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<ul><li>There are different financing options available while <keyword id="17334567" type="General" weightage="20" keywordseo="buying-a-phone" source="Orion">buying a phone</keyword> or gadget like a credit/debit card <keyword id="6357050" type="General" weightage="20" keywordseo="emi" source="Orion">EMI</keyword>, BNPL, or personal loans. </li><li>For no-cost EMIs, the manufacturer agrees to pay the EMI on your behalf instead of giving you a discount. </li><li>Calculate your total monthly outflow on EMIs for various gadgets taken on credit so that you are able to meet your monthly fixed obligations.</li></ul> When Kolkata-based Dhruv Singh bought a phone earlier, it would last him for two years if not more. This time, he upgraded his phone within 6 months of buying a new phone because the next edition was out. Singh could ‘afford’ it, at a salary of ₹50,000, because he purchased the phone on a no-cost credit card EMI for which he has to pay ₹7,000 every month for two years. With multiple options to finance a phone or any other gadget we fancy, buying a phone or a watch has now become easy and instant. “There are many different options that are now available to the consumers. Embedded finance has enabled online portals like Amazon, Flipkart, etc to provide different financing options directly on the platform itself like EMIs through credit cards, BNPL and quick personal loans through multiple lenders,” says Aakash Yajnik, national sales manager, Lifestyle Loans, Loantap, an online loan platform. EMIs are also available on debit cards. “Some retailers also offer in-store financing options that allow you to spread out the cost of your gadget over several months,” says Mahesh Shukla CEO and founder PayMe, an instant loan app. With such a plethora of options it is easy to be able to buy a gadget that we fancy. Spoilt for choice Each of the financing options comes with pros and cons. Let us take a look. Credit card EMIs: Credit card EMIs allow repayment option of up to 24 months. Some banks even provide a tenure of up to 36 months. Taking a higher tenure loan reduces the monthly EMI burden on customers. “However, on the flip side, when you make a purchase, your credit limit gets blocked, reducing the amount available for monthly transactions. Also, if EMI is not paid on time, it may result in late payment fees and interest charges that makes transaction costly,” says Ambuj Chandna, president , consumer assets, Kotak Mahindra Bank. Debit card EMIs: Debit Card EMI can be a convenient way for customers without credit cards to make large purchases on an EMI basis. Plus since your EMI is linked to your bank account and auto debited, there is little chance of missed payments. However, all banks may not provide debit card EMI options and also the credit limit may not be large enough to make high value purchases. Buy Now, Pay Later or BNPL offers customers instant access to credit, even if they do not have a credit card or the option of a debit card EMI. However, it typically has a lower repayment tenure of up to 90 days, which means customers have a limited amount of time to repay their debt. Additionally, failing to pay on time may result in high penal charges and interest costs ranging from 2-3% per month which can add up quickly and lead to financial difficulties. Personal loans: Personal loans may offer a loan amount of as high as ₹25 lakh. “It is low on convenience as loan amount will be disbursed in your bank account through which customers can make payment. Also, they are more suitable for other high ticket expenses such as health emergencies, education, marriage etc,” says Chandna. Also, depending on your credit profile, a personal loan may come at a very high interest of up to 24% per annum. Exercise caution while buying a gadget on EMI While these payment options might be convenient, one must use them responsibly. “Buying things on credit should be planned beforehand to avoid any financial burden in the future,” says Yajnik. Any of the above schemes involve paying an EMI over a period of time. This brings with it a certain amount of risk. “It makes you buy more than you can afford in one go,” says Arijit Sen, a SEBI-registered investment advisor, and co-founder of Merry Mind, a financial advisory firm. Anything taken on credit must be paid back and one becomes vulnerable to debt-trap as cash flow management may go for a toss with too much outflow on account of EMIs. “Understand the monthly EMI outflow – calculate total monthly outflow on EMIs for various gadgets taken on credit so that you are able to meet monthly fixed obligations. Also, keep in mind payment due dates as missing them may lead to penal charges and affect your credit score,” says Chandna. “In any unforeseen emergency, managing these expenses over and above the regular and discretionary outflows becomes extremely difficult for a family. Thus, these no-cost EMI or buy now, pay later schemes are adding to the misery of those who exhibit impulsive buying habits,” says Sen. Many people believe that No-cost EMIs are a great way to make purchases without much financial burden. However, this is not entirely true. “Here, the manufacturer agrees to pay the EMI on your behalf instead of giving you a discount and the consumer finds that it looks like a no-cost EMI,” says Akshay Mehrotra, co-founder &amp; CEO, Fibe, an instant personal loan app. If Singh gets bored of his new phone because a newer technology comes in and wants to change it after 8-10 months, he will be stuck with the EMIs of the ‘old phone’ for at least a year more. If he has the money and wants to prepay the loan, he will have to pay a prepayment penalty as well. In hindsight, Singh thinks that he should perhaps have not made the impulsive purchase and spent three times his salary on a phone. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/the-vivo-zeiss-story-how-a-covid-time-collab-led-to-the-creation-of-the-x90-series/articleshow/100013619.cms">The Vivo-Zeiss story: How a Covid-time collab led to the creation of the X90 series</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-tumble-over-1-on-sell-off-in-hdfc-twins/articleshow/100013793.cms">Sensex, Nifty50 tumble over 1% on sell-off in HDFC twins</a>

Buying a phone on an EMI? It may not be as simple

Planning a second property as investment? Things to ensure before making the plunge

<ul><li>A <keyword id="17512600" type="General" weightage="20" keywordseo="debt-resolution-company" source="Orion">debt resolution company</keyword> offers comprehensive solutions to help individuals overcome their debt burdens. </li><li>The primary goal of a <keyword id="977398" type="General" weightage="20" keywordseo="debt-counsellor" source="Orion">debt counsellor</keyword> is to equip individuals with the knowledge, tools and support necessary to navigate the challenges of debt resolution. </li><li>It is essential to conduct thorough research and compare the fees of different debt resolution companies before making a decision.</li></ul>Dharshan Kumar S, a 30-year old banker, had a <keyword id="180660" type="General" weightage="20" keywordseo="personal-loan" source="Orion">personal loan</keyword> on his <keyword id="6368202" type="General" weightage="20" keywordseo="credit-card" source="Orion">credit card</keyword> and was paying his EMIs on time. But during the lockdown, the family income went down and he could not pay the EMIs, or equated monthly instalments. With his <keyword id="6360217" type="General" weightage="20" keywordseo="loan" source="Orion">loan</keyword> and credit card debt, his outstanding dues rode up to ₹4 lakh and he was struggling to repay. There were creditors coming home and harassing him. That’s when he came across the contact of a debt resolution company on Facebook and approached them for help. <cmsannotation type="cmsannotation" annotationid="Options to deal with outstanding debt" comment="subhead" text="Options to deal with outstanding debt">Options to deal with outstanding debt</cmsannotation> In today's world, loans have become an essential part of our lives, and many individuals find themselves managing multiple debts simultaneously. If you are facing difficulties due to excessive debt, the initial crucial step is to assess and understand the nature of your debts. “It is crucial to identify high-cost debts such as credit cards, and app loans with interest rates as high as 40-48%, personal loans, and accordingly decide where to concentrate your repayment efforts first. The longer one keeps loans open, the more interest one has to pay overtime, and it can eventually spiral into a toxic trap that will lead to delinquency if not repaid on time,” says Ritesh Srivastava, founder and chief executive officer, FREED, a debt relief platform. “There are several options available for individuals who are struggling with outstanding debt,” says Manavjeet Singh, managing director &amp; CEO, CLXNS, a debt collection platform for banks. Debt consolidation, debt counselling, and debt resolution are some of the options. <cmsannotation type="cmsannotation" annotationid="Should you approach a debt resolution platform?" comment="subhead" text="Should you approach a debt resolution platform?">Should you approach a debt resolution platform?</cmsannotation> “When debt has gone out of hand, one should take help from professionals for debt management. While debt restructuring and subsequent resolution will need traditional finance experts, a money coach would be great to help you with behavioural changes,” says Renu Maheswari, co-founder and principal advisor, Finscholarz Wealth Managers. “Nothing comes for free, so weigh the pros and cons and use debt resolution as the last resort,” she adds. <cmsannotation type="cmsannotation" annotationid="How does debt resolution work?" comment="subhead" text="How does debt resolution work?">How does debt resolution work?</cmsannotation> “A debt resolution company offers comprehensive solutions to help individuals overcome their debt burdens. These companies provide services such as debt settlement, consolidation, and elimination. Debt settlement involves implementing financial discipline by setting aside funds for loan repayment in a trust account and thereafter negotiating with the creditors,” says Srivastava. On the other hand, debt consolidation focuses on combining multiple high-cost loans into a single loan. By doing so, individuals can benefit from a reduced interest rate and an extended repayment period. It is helpful for borrowers who are currently repaying their debt but are over-leveraged. <cmsannotation type="cmsannotation" annotationid="The importance of debt counselling" comment="subhead" text="The importance of debt counselling">The importance of debt counselling</cmsannotation> Debt counselling services employ a systematic approach to help individuals burdened by debt achieve a debt-free life. These services involve offering educational resources, guidance on budgeting, and utilising tools and strategies to reduce and eliminate debt. The main objective is to foster financial discipline in borrowers and provide ongoing support throughout the debt relief process, all while avoiding excessive upfront costs. “The primary goal of a debt counsellor is to equip individuals with the knowledge, tools and support necessary to navigate the challenges of debt resolution. By providing financial education, budgeting assistance, and advocating for their clients' interests, these services empower individuals to take control of their financial situation and work towards achieving freedom from debt,” says Srivastava. The fees associated with debt counselling resolution services in India can vary based on the specific services offered and the debt resolution company selected. Many companies offer a free initial consultation, after which fees may be charged for ongoing services. This can be a percentage of the total debt, in case the debt issue is resolved, or subscription fees for other services such as counselling, support for creditor harassment, budgeting. “It is important to carefully research and compare the fees of different debt resolution companies before choosing one,” says Singh. Kumar was counselled on his debt and how he could handle his creditors. Now he has to pay a consolidated amount every month to his debtors and is looking to be debt free soon.

Neck deep in debt? Here’s how some companies are helping habitual borrowers consolidate their loans

<ul><li>The <keyword id="12733824" type="General" weightage="20" keywordseo="Samsung-Galaxy-M33-5G" source="Orion">Samsung Galaxy M33 5G</keyword> is the latest offering in the affordable Galaxy M series.</li><li>The device is part of the highly competitive sub-₹20,000 segment.</li><li>Here’s our review of the Galaxy M33 5G that will help you decide whether you should buy the device or not.</li></ul><keyword id="10591" type="General" weightage="100" keywordseo="samsung" source="Orion">Samsung</keyword> had launched the Galaxy M33 5G in India earlier this month, adding another option to its affordable Galaxy M series. The device is part of the highly competitive ₹20,000 segment and is packed with features. The Galaxy M33 5G comes with several upgrades over its predecessor, the Galaxy M32. The device is also future-proof as it comes with 5G support. The company has used its own Exynos 1280 chipset to power the device and like other Galaxy M series devices, the Galaxy M33 5G features a plastic body. I have been using the Galaxy M33 5G for a few weeks now and here is my review of the latest affordable offering from the Korean giant. <cmsannotation type="cmsannotation" annotationid="Samsung Galaxy M33 5G price and availability" comment="subhead" text="Samsung Galaxy M33 5G price and availability"><keyword id="13471444" type="General" weightage="20" keywordseo="Samsung-Galaxy-M33-5G-price" source="Orion">Samsung Galaxy M33 5G price</keyword> and availability</cmsannotation> The <keyword id="173725" type="General" weightage="80" keywordseo="samsung-galaxy" source="Orion">Samsung Galaxy</keyword> M33 5G is priced at ₹17,999 for the 6GB RAM variant and ₹19,499 for the 8GB RAM variant. The device comes in Deep Ocean Blue and Mystique Green colour options and is available from Amazon India, Samsung online store and the company’s authorized retail stores across the country. As part of an introductory offer, users can claim an instant discount of ₹2,000 on the device by purchasing it using an ICICI Bank credit card or by purchasing the device on EMI. The Galaxy M33 5G competes with the likes of the <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-11-pro-5g-review-excellent-display-great-battery-life-but-slightly-pricey/articleshow/90533447.cms">Redmi Note 11 Pro+ 5G</a>, and the <a href="https://www.businessinsider.in/tech/mobile/news/realme-9-speed-edition-smartphone-review/articleshow/90145143.cms">Realme 9 Speed Edition</a>, among others. <cmsannotation type="cmsannotation" annotationid="Samsung Galaxy M33 5G pros and cons" comment="subhead" text="Samsung Galaxy M33 5G pros and cons">Samsung Galaxy M33 5G pros and cons</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Pros" comment="subhead2" text="Pros">Pros</cmsannotation> <ul><li>Battery life</li><li>120Hz refresh rate display</li><li>5G support</li><li>Dedicated SD card slot</li></ul><cmsannotation type="cmsannotation" annotationid="Cons" comment="subhead2" text="Cons">Cons</cmsannotation> <ul><li>TFT display</li><li>Charging time</li><li>No charging brick</li><li>Bulky</li></ul><cmsannotation type="cmsannotation" annotationid="Samsung Galaxy M33 5G design" comment="subhead" text="Samsung Galaxy M33 5G design">Samsung Galaxy M33 5G design</cmsannotation> <div type="image" title="Back" msid="91076142" hostid="261" caption="&amp;lt;p&amp;gt;Samsung Galaxy M33 5G back.&amp;lt;/p&amp;gt;"></div> The <keyword id="13461790" type="General" weightage="20" keywordseo="Samsung-Galaxy-M33-5G-features" source="Orion">Samsung Galaxy M33 5G features</keyword> a similar design as other Galaxy M series devices. It comes with a plastic back with a glossy finish. The device comes in two colour options – Deep Ocean Blue and Mystique Green. We received the Mystique Green variant which looks elegant. You don’t have to worry about fingerprint smudges and there is no need to get a protective case. However, the weight is an issue as the device is 215 grams even without a case. This is one of the trade-offs of having a huge 6,000mAh battery. <div type="image" title="Bottom" msid="91076167" hostid="261" caption="&amp;lt;p&amp;gt;Samsung Galaxy M33 5G ports and speaker.&amp;lt;/p&amp;gt;"></div> At the bottom, the device comes with a 3.5mm audio jack, USB Type-C port, a microphone and a speaker. <div type="image" title="Fingerprint sensor" msid="91076176" hostid="261" caption="&amp;lt;p&amp;gt;Samsung Galaxy M33 5G volume rockers and power button.&amp;lt;/p&amp;gt;"></div> On the right side, the device sports the volume rockers and the power button, which doubles up as a fingerprint sensor. The power button offers a good tactile feel and the fingerprint sensor is responsive. <div type="image" title="SIM tray" msid="91076258" hostid="261" caption="&amp;lt;p&amp;gt;Samsung Galaxy M33 5G SIM tray + microSD card slot.&amp;lt;/p&amp;gt;"></div> On the left side, the device features the SIM tray. It supports dual nano SIMs and features a dedicated microSD card slot that allows you to expand the storage up to 1TB. <cmsannotation type="cmsannotation" annotationid="Samsung Galaxy M33 5G software and bloatware" comment="subhead" text="Samsung Galaxy M33 5G software and bloatware">Samsung Galaxy M33 5G software and bloatware</cmsannotation> The Galaxy M33 5G runs on Android 12 with the company’s OneUI 4.1 on top. The user interface is easy to understand and offers a clutter-free experience. <div type="image" title="Apps" msid="91076441" hostid="261" caption="&amp;lt;p&amp;gt;Pre-installed apps on the Galaxy M33 5G.&amp;lt;/p&amp;gt;"></div> In addition to Samsung’s suite of apps, the device also comes with other apps such as Netflix, Facebook, Snapchat and Truecaller. It also comes with bloatware such as Moj, Josh, ShareChat and BYJU’s. However, these apps can be easily uninstalled. <cmsannotation type="cmsannotation" annotationid="Samsung Galaxy M33 5G display" comment="subhead" text="Samsung Galaxy M33 5G display">Samsung Galaxy M33 5G display</cmsannotation> <div type="image" title="Display" msid="91076097" hostid="261" caption="&amp;lt;p&amp;gt;Samsung Galaxy M33 5G display.&amp;lt;/p&amp;gt;"></div> The Samsung Galaxy M33 5G features a 6.6-inch Full HD+ LCD display with a 120Hz refresh rate and Corning Gorilla Glass 5 protection. The device comes with a water-drop notch for the selfie camera. Samsung has used a TFT display instead of an AMOLED display to bring down the costs. The device’s primary rival, the Redmi Note 11 Pro+ on the other hand offers an AMOLED display. While the TFT display is not as bright or energy efficient as an AMOLED display, it offers vivid colors and offers excellent color reproduction. The LCD panel offered by Samsung is much better compared to other LCD displays offered in the price segment. <cmsannotation type="cmsannotation" annotationid="Samsung Galaxy M33 5G performance and battery life" comment="subhead" text="Samsung Galaxy M33 5G performance and battery life">Samsung Galaxy M33 5G performance and battery life</cmsannotation> The Samsung Galaxy M33 5G is powered by the company’s Exynos 1280 chipset coupled with up to 8GB RAM and 128GB of internal storage. We found the device performs well in day-to-day tasks but there are occasional stutters while launching an app or performing heavy tasks. The device performed well while playing games such as Battlegrounds Mobile India or Call of Duty Mobile. While the device performed well, we did notice the occasional lag. Coming to the battery, the device is powered by a huge 6,000mAh battery and offers 25W charging support. The device takes around 100 minutes to be fully charged and in regular usage with over an hour of calling, light gaming and video streaming, the phone offered almost one and a half day of battery life. The battery life is easily one of the highlights of the device and also supports reverse charging, allowing you to charge your other devices with the phone. <cmsannotation type="cmsannotation" annotationid="Samsung Galaxy M33 5G camera" comment="subhead" text="Samsung Galaxy M33 5G camera">Samsung Galaxy M33 5G camera</cmsannotation> <div type="image" title="Camera" msid="91075908" hostid="261" caption="&amp;lt;p&amp;gt;Samsung Galaxy M33 5G rear camera.&amp;lt;/p&amp;gt;"></div> The Samsung Galaxy M53 5G features a triple camera setup at the back consisting of a 50MP primary camera, a 5MP ultra-wide-angle sensor, a 2MP depth sensor and a 2MP macro sensor. <div type="image" title="Morning" msid="91076685" hostid="261" caption="&amp;lt;p&amp;gt;Image captured in daylight conditions.&amp;lt;/p&amp;gt;"></div> In my testing, I found the Galaxy M33’s camera performs decently during daylight conditions and is able to quickly focus. The low light pictures were decent but not as good as the daylight pictures as sometimes the images looked washed-out. <div type="image" title="20220422_204609" msid="91076779" hostid="261" caption="&amp;lt;p&amp;gt;Samsung Galaxy M33 5G image captured in indoor lighting.&amp;lt;/p&amp;gt;"></div> The portrait-mode images turned out well and there was good edge detection. <div type="image" title="Low-light" msid="91076559" hostid="261" caption="&amp;lt;p&amp;gt;Image captured in low-light conditions.&amp;lt;/p&amp;gt;"></div> The phone struggles a bit when it comes to low light conditions. The details were a little blurry but it offers good performance in this segment. <div type="image" title="0.5x 1X 2X" msid="91076812" hostid="261" caption="&amp;lt;p&amp;gt;Image captured in 0.5X, 1X and 2X.&amp;lt;/p&amp;gt;"></div> On the front, the device sports an 8MP selfie camera. The selfies captured in daylight turned out good. The images turned out a little noisy in low light conditions. <cmsannotation type="cmsannotation" annotationid="Wrapping up" comment="subhead" text="Wrapping up">Wrapping up</cmsannotation> The Samsung Galaxy M33 5G is a good device for people looking for an affordable phone that offers a long battery life and runs smoothly with normal usage. However, the device is placed in the highly competitive ₹20,000 price segment and if you are looking for a more powerful device, the Redmi Note 11 Pro+ 5G might be a better option. The main drawbacks of the device are the plastic back, TFT display and slow charging. The main strengths of the device include the battery life, Samsung’s good after-sales and software update guarantee topped with decent performance. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-11-pro-5g-review-excellent-display-great-battery-life-but-slightly-pricey/articleshow/90533447.cms">Redmi Note 11 Pro+ 5G review – excellent display, great battery life but slightly pricey</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-under-40000-in-india/slidelist/90912275.cms">Best phones under ₹40,000 in India</a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-9-5g-mobile-vs-realme-9-pro-5g-mobile-specs-price-and-features-compared/slidelist/90722748.cms">Realme 9 5G vs Realme 9 Pro 5G – specs, price and features compared</a>

Samsung Galaxy M33 5G review – dependable device with an all-day battery

Buying your dream car and then maintaining it in the long run is expensive. First three years your wallet is drained in paying the EMIs and then after 40,000 kilometres in your car speedometer, the maintenance takes a toll. First the tyres need a change and then gradually the brake pads and clutch pads. Besides there is always an annual oil change, AC servicing associated, no matter how good is your car. At such a juncture when your annual increment lures you to buy a new car and then you have lot of thoughts going in the back of your brain, <keyword id="3018623" type="ORGANIZATION" weightage="20" keywordseo="Revv">Revv</keyword> has just come up with a solution. The Delhi-NCR based shared mobility platform has launched a unique and innovative service Switch that lets users subscribe to a curated fleet of cars, by-the-month or by-the-year. Revv claims that this is the first ever, multi-brand car subscription platform in Asia, and is essentially an attempt to re-imagine the 100-year old practice of car ownership. Revv raised its Series A round of funding in November 2016 from Edelweiss <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">Private Equity</keyword>, and since then, have added Mumbai, Pune, Chennai, Jaipur and <keyword id="112271" type="CITY" weightage="20" keywordseo="Vishakapatnam">Vishakapatnam</keyword> to their geographical footprint. “Mainstream adoption of shared mobility will increasingly depend upon an ecosystem of services coming together, which collectively cater to the full set of needs of a person who wants to adopt a lifestyle based on shared mobility v/s traditional car ownership. While some use-cases have been increasingly well-served by cabs and hourly self-drive rentals, there is a clear gap in services tailored towards longer term mobility,” said one of the co founders of the company. Pros For users with fast-changing lifestyles, or for users with tactical requirements (say, for a few months), buying or leasing a car is impractical, because of the long-term commitments and hassles involved in purchase, maintenance and resale. Switch aims to change that and fill this gap. It is a subscription service, available by-the-month or by-the-year. It makes accessing a car much more convenient and hassle-free, through what is essentially a ‘no commitments’ relationship. The user can get started whenever he wants, without worrying about fixed long-term expense, and switch it off whenever he wants. He can switch between car models as frequently as every month, e.g. using a hatchback for day-to-day usage, while switching to a nice SUV for vacations. He can even maintain his subscription across cities. The upfront expense will also be much lower than buying a car because of no down-payment. Cons However if you actually want a car for long term, it’s wiser to buy a car itself. Given the price point of Rs 21000 plus a month for hatchbacks, this won’t really work on long term. Even for down payment of Rs 1 lakh, you can buy a decent hatchback car at Rs 8000 EMIs.

Why pay for EMIs and maintenances of cars when you can just subscribe!

Are you caught up in the rent vs. buy a house debate? Fret not. We have come to your rescue. After analyzing the pros and cons of <keyword id="599142" type="UNKNOWN" weightage="20" keywordseo="Renting">renting</keyword> and <keyword id="24474" type="ORGANIZATION" weightage="20" keywordseo="buying">buying</keyword> a house, we have compiled some interesting pointers in a table below. These pointers will not only solve the conundrum for you, but will also help you make a smarter decision. 
 
 
 
If the above table still didn’t answer all your questions and you are still thinking of buying a home, you should ask yourself the following questions: 
<ol>
	<li>
		Do you plan to stay in your current city for a long term (more than 5 years)?</li>
	<li> Have you calculated what your <keyword id="6357050" type="COMPANY" weightage="20" keywordseo="EMI">EMI</keyword> could be if you were to purchase a house? Does this EMI fit your budget?</li>
	<li>
		What is your current ‘rent to capital’ ratio?</li>
	<li>
		What is the estimated annual increase in the value of the property you plan to buy?</li>
</ol>
If you have the answer to the last question, then the puzzle has been solved. 
 
About the author: Naveen Kukreja is Director, Paisabazaar.com 
Image: Thinkstock

The Puzzling Rent-or-buy Debate

In this age of stiff competition among lenders, each one of them makes an effort to bring in a difference. An interest rate differential is one such example that we could use. This factor surely plays an important role in your equated monthly instalment (<keyword id="6357050" type="COMPANY" weightage="100" keywordseo="EMI">EMI</keyword>) payment and hence, in your choice of lender. 
 
As interest rates vary from lender to lender, an existing borrower is lured to shift to a lender who quotes a lower interest rate than what she is currently paying. 
 
Home loans are long-tenure loans and typically large ticket size. When a lending institution offers you an interest rate differential, you will consider shifting your loan to that specific lender. But is that the right step? Does it always make sense to shift lenders? 
 
You surely need to give it a thought before you take any decision. And the crucial points to consider here are: 
 
Cost 
The cost you will incur is the processing fee charged by the new lender, which could be a flat amount or a percentage of the loan amount. In addition, some lenders may also ask you to get your property documents verified by a lawyer, at your own cost. A one-time stamp duty will also be payable as a percentage of the loan amount. 
 
Process 
The process includes submission of two key documents to the new lender. These are: 
<ol>
	<li>
		A letter that details the list of documents currently held by the existing lender and the amount that will be considered as full and final payment.</li>
	<li>
		No-objection certificate from the builder or society.</li>
</ol>
 
However, interest rate differential should not be the sole factor behind shifting. Other factors you need to consider are: 
 
Calculating the total fees and charges that you need to pay to the new lender. 
 
Checking if your balance loan tenure is worth the shift. 
 
Checking the outstanding loan amount. If this is low, avoid shifting your loan. 
 
Reading all the terms and conditions of the new lender. Do not fall for an offer just because of the frills associated with it. 
Sometimes, negotiating with the existing lender can help you save a penny. On the other hand, changing your lender in a hurry may also cost you a pound. So consider all the pros and cons before you take a decisive step. 
 
About the author: Satish Mehta is the founder and director of Credexpert, a credit and debt counselling company in India.

To Shift Or Not To Shift Lenders – That’s The Question

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<ul><li>Announcing that it will make the entire portfolio of its <keyword id="1009778" type="PERSON" weightage="20" keywordseo="Smart-watches">Smart Watches</keyword> in India, <keyword id="107877" type="COMPANY" weightage="20" keywordseo="Samsung-India">Samsung India</keyword> on Thursday launched the first 'Make in <keyword id="9544601" type="UNKNOWN" weightage="20" keywordseo="india-galaxy-watch-active2">India Galaxy Watch Active2</keyword> 4G (aluminium edition) for Rs 28,490. </li><li>The Smart Watch will come in three colours - Cloud Silver, Aqua Black and Pink Gold - and will be available starting July 11 across retail stores and leading online portals. </li><li>Consumers buying Galaxy Watch Active2 4G can avail 10 per cent cashback and six-month, no-cost EMI offers till July 31, the company said in a statement. Announcing that it will make the entire portfolio of its Smart Watches in India, <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> India on Thursday launched the first 'Make in India Galaxy Watch Active2 4G (aluminium edition) for Rs 28,490.</li></ul> The Smart Watch will come in three colours - Cloud Silver, Aqua Black and Pink Gold - and will be available starting July 11 across retail stores and leading online portals. Consumers buying Galaxy Watch Active2 4G can avail 10 per cent cashback and six-month, no-cost EMI offers till July 31, the company said in a statement. "The Aluminium edition of Galaxy Watch Active2 4G is our most affordable 4G watch now. With Galaxy Watch Active2 4G, we have also started manufacturing our entire range of 18 smartwatches in India as part of 'Make for India' programme," said Mohandeep Singh, Senior Vice President, Mobile Business, Samsung India. Samsung's 4G smartwatch range now comprises nine distinct colour finishes, three sizes (42mm, 44mm and 46mm) and two unique design templates - elegant classic of the Watch 4G and modern minimalistic of the Watch Active2. The Super AMOLED Display on Smart Watch covers the screen edge to edge and comes with a touch bezel, giving consumers Samsung's signature rotating UI experience while navigating through apps on the Galaxy Watch Active2 4G. Each Watch can be customised with standard watch straps and a massive library of watch faces from the app store. The Galaxy Watch Active2 4G comes with 39 workout trackers built-in with many of them focusing on indoor workouts. Galaxy Watch Active2 4G comes with improved sleep analysis and stress algorithms, housing a popular sleep and meditation app called 'Calm'. Galaxy Watch Active2 4G comes with e-SIM connectivity. The device is supported by Airtel and Jio. SEE ALSO: <a href="https://www.businessinsider.in/india/news/photographer-of-the-viral-black-panther-images-from-india-shares-his-story/articleshow/76830618.cms">INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther</a> <a href="https://www.businessinsider.in/politics/world/news/harvard-and-mit-are-suing-ice-to-block-its-order-forcing-international-students-to-leave-the-us-if-their-course-is-online-only/articleshow/76856699.cms">Harvard, MIT, and Northeastern University are suing ICE to block its order forcing international students to leave the US if their course is online-only</a> <a href="https://www.businessinsider.in/tech/enterprise/news/russian-scammers-are-conning-senior-executives-into-giving-away-2-7-million-by-impersonating-real-ceos-and-lawyers/articleshow/76849870.cms">Russian scammers are conning senior executives into giving away $2.7 million by impersonating real CEOs and lawyers</a>

Samsung to make all Smart Watches in India, unveils 1st desi device

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If you are planning to buy your <keyword id="185442" type="UNKNOWN" weightage="20" keywordseo="dream-house">dream house</keyword> and the specifics of agreement seem scary, this is a must read for you. The very attractive opportunities, in fact, may turn out to be risky as even the most lucrative deals also come with hidden clauses which the buyer is unaware of. 
 
An Economic Times report talks about the pros and cons of buying a home, possibly your biggest investment. A number of people in the NCR region are hunting for a home, but they’re unable to understand the nitty-gritty details of schemes such as 20:80 or 8:92, or offer of lower interest rate of 7.99% for three years, guaranteed rentals for three years or a 100% buyback scheme, etc. 
 
Harendra Singh, a buyer who is looking for a home from past eight months, told ET that he had already approached a number of dealers and each of them is offering a new scheme. "I understand this is the best time to buy as prices are relatively low but just how do we trust these schemes?" asked Singh. After all, he has been hearing far too many horror stories of abandoned projects, much delayed homes and builders not honoring their commitments. 
 Not just the buyers but the brokers too understand the complexity of the deals. Sunil Kapur of Delhi-based property brokerage firm <keyword id="2942712" type="ORGANIZATION" weightage="20" keywordseo="KK-Real-Estate">KK Real Estate</keyword> told ET, "They want to buy but find it difficult to understand these schemes. Once they realise the risks, many back out." 
 
Another homebuyer, who is currently fighting a legal battle with a builder for delaying his apartment by three years, asserted, "You are taking a financial risk based on a builder's guarantee. But who guarantees the guarantor?” 
 Referring to the EMIs taken by the buyers, Amit Kukreja, founder of <keyword id="25456" type="ORGANIZATION" weightage="20" keywordseo="financial-planning">financial planning</keyword> firm <keyword id="2943496" type="COMPANY" weightage="20" keywordseo="WealthBeing">WealthBeing</keyword> Advisors, told the financial daily, "Since the EMIs are on account of the buyer, it is his credit history that is at stake if for some reasons the project is delayed way beyond scheduled date and additional cash outflow, due to EMIs, cause financial stress." 
 
Speaking about the reduced interest rates, Kukreja said, "Buyers need to carefully examine the interest rates applicable after the low interest rate period. The catch here is that the banks can move the buyer to prevailing market rates or even higher after the agreed period. The new EMI may hurt the buyer's financial goals and planning." 
 
The ET report also highlighted that another major concern for homebuyers could be the very striking deals which may fail for any unidentified reason. 
 <keyword id="2943495" type="UNKNOWN" weightage="20" keywordseo="Ashwin-Chawwla">Ashwin Chawwla</keyword>, chief executive officer of Gurgaon-based online property portal <keyword id="2728436" type="UNKNOWN" weightage="20" keywordseo="BigDeals">BigDeals</keyword>.in, explained, “To increase sales, builders offer 30:70 scheme. Under that, the buyer can make 30% down payment and is allowed to pay the rest at time of possession. The deal seems beneficial as the buyer does not even have to take a loan at the outset.” 
 
The risk in such a deal could be of builder ditching the buyers. "What if for some reason the builder does not construct? He probably needed funding for some other project and got it from buyers in this project,” concluded Chawwla. 
 
image: indiatimes

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