Interest rates have been constantly in the news over last seven months. Actually, do you know how they impact economy and our personal finances? And why do interest rates change frequently? This article is a simplified guide which talks about loans and interest rates in detail and how they affect your personal finances.

Are you in need of a loan? Get it now! Seemingly, there are enough indications for borrowers to celebrate the festive season as lenders have been coming out with discounted loan schemes. A sharp drop in interest rates comes as a relief for millions of borrowers. Be it a home loan, corporate loan, auto loan or education loan, this is the perfect time to go in for any. Recently, RBI has cut down key interest rates for the sixth time in last seven months.

The word “pledging” is buzzing in the industry. Do you know what is meant by pledging? The concept is not new to India, but the concept has caught attention of the players of the industry very recently after the Satyam debacle. PagalMoney guides you through the concept:

Suddenly, in this season of tax-planning, have you realized how important it is to buy a house through loan? By this time, you should have learnt that you can avoid paying tax on the amount that goes for interest and part-payment of the loan. So, you have decided to own a house. That’s good! It’s better late than never. You are on the right path of tax-planning. But, by the time you become legal owner of a house you would feel drained. You have to overcome several hurdles.