Car loan. What you should know

Car loans and is it important to go for a car loan

Having a home and a car is one of the glorious milestones of life. Thanks to the advent of various financial institutions and banking systems which offer car loans, it has become very easy for people to fulfil their dreams of owning a car.  We all want that shiny little set of wheels standing in the parking place of our house. Well, with the help of car loans you can easily fulfil your dreams now.

All the private and public sector financial institutions in India offer car loan. Similar to another loan, you need to submit documents like ID proof, income proof, and credit history to qualify the bank’s eligibility criteria and avail the car loan. Aadhar card is mandatory.

Why Choose a Car Loan?

Some people dread loan. They don’t want to get trapped in the web of EMIs but, banks and financial institutions have come up with customer-friendly policies which make availing car loan stress and hassle-free process.

If you go ahead with car loans, you get two benefits :

  • We all know that cars come with a hefty cost, car loans have emerged as an easy way to buy a car.
  • A massive purchase like buying a car with cash can make you come in the radar of Income Tax department. Furthermore, you might lose an opportunity to build up credit history which may later be used to avail home loan.

Car Loans – Features and Benefits

Here are few other sets of benefits which car loan has to offer and make you choose it.

  • With the help of car loan, you can buy a better car than the one which fits your budget.
  • You can quickly buy the car with the help of car loan, which otherwise would be difficult if you want to buy it by arranging the money.
  • You can manage the cost of purchase by distributing it across a longer duration regarding EMI. This makes it easy for you to pay back for the loan without affecting your pocket too much.
  • Car loans in India are mostly secured which means the car serves as a security for the loan. Thus, posing a little financial risk to you.
  • Availing car loan is simple.
  • Car loans are often based on fixed interest rate when it comes to EMIs. It means that you have a fixed amount that has to be given every month. It ensures that you can plan your monthly budget.
  • The repayment tenure of car loan ranges from 5 years to 10 years.

Thus, if you are willing to buy a car don’t delay the decision. Contact your bank, and you can open the gateway to bring in your dream car.

Booking a cab or Buying a car with car loan.

You can book a cab whenever you want to wherever you want. If you are going to office in a cab and weekend getaways are always on a hired car, calculate the amount you spend every month. Instead buy a car where you can afford for the EMI. Car loans come at a very low interest rates. Instead of having the head ache of booking a cab every now and then, buy your favourite car by going for a car loan at a lowest interest rates.

What does? know to offer loan at the lower interest rates from many lenders. Car loan is important when you go for buying your favourite car. We understand your need. Hence, we keep it simple for you by letting you know the lower interest rates, getting the loan disbursed from your favourite lender. All you need to do is give a missed call to 040-71011991. We will follow the rest.

Car Loan Interest Rates

Well, buying a shiny and glamorous four-wheeler is the dream of many individuals. But, in a nation where most of the people in middle class and have restricted source of income, spending the hefty amount in buying a car can be a costly affair. The time has changed, we are now living in a world where banks and financial institutions are offering car loans and car loan interest rates at affordable EMIs.

Car loans are not only easy to avail but also a great way to buy a car. However, you must know that car loans interest rates may vary from one bank to another. Apart from this, you must also qualify the eligibility criteria mentioned by the bank to avail car loan.

Here is a quick view of the  car loan interest rates offered by different banks and financial institutions :

Bank Name Interest rate Processing Fees Loan Amount Loan Tenure
HDFC Fixed Interest Rate- 8.40% – 10.35% Up to ₹ 4720 (it’s a one time fee) Minimum ₹ 1 Lac 1 -7 years
Axis Bank Fixed Interest Rate- 8.60% – 11.50% Up to ₹ 5000 Minimum ₹ 1 Lac
  1. 7 years
ICICI Fixed Interest Rate- 8.40% – 13.25% Up to ₹ 5000 (its one time fee) Minimum ₹ 1 lac 1-7 years
Dena Floating Interest Rate-9.15% ₹575 (it’s a one time fee) Minimum ₹ 1 lac 1-7 years
Federal Bank Fixed Interest Rate-9.75% ₹ 1500-  ₹ 2500 (it’s a one time fee) 1-5 years
Bank of India Floating interest rate- 9.25% ₹ 500+ ST ₹ 50 lac – ₹ 1 cr 7 years
Canara Bank Floating Interest Rate- 8.60% – 9.25% ₹ 1000 – ₹ 5000 7 years
Bank of Maharashtra Fixed Interest Rate- 8.95% 7 years
Indian Bank Fixed Interest Rate- 9.95% 0.229% (max. ₹ 10,191/-) (It’s a one time fee) Maximum ₹ 2 crore 7 years
Central Bank of India Floating Interest Rate- 8.70% Maximum ₹ 75 lac Seven years
IDBI Bank Fixed Interest Rate- 9.10% 0 7 years
L&T Finance Limited Fixed Interest Rate- 16% – 17% 2% Minimum ₹ 1 lac 7 years
Reliance Commercial Finance Fixed Interest Rate- 16% 1.25% (Min. ₹ 5,175)( It’s a one time fee) ₹ 50K – ₹ 15L 1-4 years
Yes Bank Fixed Interest Rate- 10.25% – 12.25% ₹ 5,000 to ₹ 10,000 (It’s a One time fee) Minimum 1 lac 1-7 years
State Bank of India Floating Interest Rate- 9.05% ₹0 7 years

What Loanyantra can do for a lower car loan interest rates :, known for the quickest disbursal and fastest process also helps you get loans from your favourite bank at lower interest rates. If you have a home loan, you can easily get a car loan from the same lender and at a lower interest rate. Get more tips and easiest ways from Also avail cash back offers on the car loan interest rates.

Indiabulls dhani personal loan

Personal loans exclusively from Indiabulls dhani personal loan features quick, easy and fast personal loans.

After five years of study, it is stated that the search is majorly from mobiles than from PCs and laptops. So, Indiabulls came up with an innovative personal loan feature known as Indiabulls dhani personal loan.

What is Indiabulls dhani personal loan?

To make you reach your financial needs with much ease, Indiabulls introduced first of its kind, loans from phone, called Indiabulls dhani personal loan.

Do you have an Aadhar card? If yes, then the personal loan is sanctioned and disbursed through your phone to your account.

Never miss any of your needs, any of those pending vacation, any of those dream aims. Celebrate your life with this new feature in your phone. Fulfil every dream by attending to it financially within minutes.

How does Indiabulls dhani personal loan work?

It works in three steps.

  1. Download the app in your phone from playstore or app store.
  2. Enter your loan amount, aadhar number.
  3. Get money in your account instantly.

Indiabulls dhani personal loan – features and benefits

  • Use your smart phone, know your aadhar number. That’s all you need to know to get maximum Rs. 15 lakhs amount in your account as personal loan.
  • Never leave your dream unfulfilled – As the process is so easy, it just takes seconds to get your dream true.
  • The lean interface leaves the user with quickest experience with fastest loan disbursement.
  • No need to apply your documents. Just enter your aadhar number and get the loan amount disbursed in your account.

How Loanyantra helps

Personal loans through Loanyantra is the best way out there in the market. Know every detail about every product, every feature about each loan. Loanyantra is known for its customised service with happy feedback. Manage your loan through our dedicated customer relationship manager. Receive market updates and interest rate changes as and when there is a change. All you need to do is just a missed call to 040-71011991.


SBI increases lending rates

The State Bank of India (SBI), India’s largest PSU bank, on Thursday, raised lending rates from 7.95 percent to 8.15 percent. SBI increases lending rates for the first time since April 2016. SBI is the first one to implement the MCLR based calculation for loan interest rates when MCLR is introduced an year ago.

There is no change in RBI policies since two quarters. But, it is observed that SBI increases lending rates. Liquidity tightening, rise in bond yield, credit demand pick up and other profitability issues are pushing the banks to up the interest rates

Just a day after SBI increases interest rates on fixed deposits, SBI increases lending rates. SBI term deposits for 7 to 45 days will earn an annual interest rate of 5.75 per cent, up from 5.25 per cent earlier. For one year deposits, SBI customers will now earn 6.40 per cent from 6.25 per cent earlier, while those deposits maturing between two years and 10 years will earn 6.50 per cent, compared with 6 per cent earlier. For senior citizens, the revised interest rates are 7 per cent on their deposits, up from earlier 6.50 per cent.

Another state-run bank PNB also raised its lending rate, effective March 1, 2018. PNB raised its one-year MCLR rate to 8.30 per cent from 8.15 per cent.

SBI increases lending rates
SBI increases lending rates – EMIs to go up

Many banks have been increasing their deposit and lending rates since the last quarter. While lending rates have been jacked up on an average of 5-10 bps by private sector lenders like HDFC Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank since January, almost all the state-run lenders have been increasing their bulk deposit rates in the range of 15 bps to 125 bps.

SBI’s new marginal cost of funds-based lending rates with effect from March 1, 2018, as shared by the bank on its website –

Tenor Existing MCLR (In %) Revised MCLR (In %)
Overnight 7.7 7.8
One month 7.8 7.8
Three months 7.85 7.85
Six months 7.9 8
One year 7.95 8.15
Two years 8.05 8.25
Three years 8.1 8.35

What loanyantra does for you while SBI increases lending rates – 

Get the loan from best of banks. Know every bank’s lending rates and choose your favourite one. Be the first one to know about every lender in the banking sector. Our dedicated Customer Relationship Manager will help you through every step while you choose home loan for your dream home.

How to Buy a Business With Poor Credit-Business Loan

Getting a business loan with bad credit to buy a business is challenging and requires the business to have enough assets to meet the lender needs.

Your Credit Profile
Before you jump into applying for loans to buy a business, examine your own credit. You may assume you have bad credit, but it might not be as bad as you think. Take the opportunity to clean up any errors or pay down other debts to improve your credit profile.

Personal credit reports are available through any of the three reporting agencies: Experian, Equifax and TransUnion. You can also check with an existing bank or credit card company to see if it offers free credit reports. Review the report for any errors. Contact reporting companies about errors with proof of payment, such as a receipt for having paid a bill on time.

If there isn’t much you can change in the report, prepare to explain negative issues on the report, why there was a problem and what you have done to rectify it. If you were ill and out of work for a period of time and were late on payments, an explanation might help during the loan underwriting process.

The Business Credit Profile
Gather all the financial information about the company you are purchasing. An owner who is reluctant to provide information may be hiding something. Obtain bank records, merchant services, account transactions, inventory numbers, vendor sheets and tax returns. Look back at least two years, longer if possible.
Request budget items such as payroll and lease information. Gather any existing debt owed on the business including open lines of credit. You need to know what the business pulls in and what its expenses and liabilities are.
Write a business plan detailing the successful history of the business and project the growth out for the next five to seven years. The business plan helps lenders get a real picture of what the loan is used for. Most business loans are unsecured, meaning there is no collateral. All of these records help you and the lender see if there is an asset to tie the loan to – perhaps real property, inventory or merchant receipts.

business loan with bad credit
Business loan with bad credit

Applying for Credit
Whether you are starting a new business or buying an existing business, make an appointment to review the entire plan with a Small Business Administration counsellor. This person may be able to improve the plan so it better suits what a lender seeks. The counsellor also has relationships with lenders who specifically provide SBA loans.
Whether you go through the SBA or go directly to a bank or credit union, make your package as professional as possible and look like a business owner when you meet with lenders. While you are a customer, lenders view their role more as investors and want to work with professionals. Complete the application and present the entire package as supporting documentation.

Alternative Ideas
If you are denied a loan, ask the lender about having a credit partner. A credit partner is a co-signer to the loan, using their positive credit and maybe industry experience as a mentor to the company. You will probably need to give up a percentage of ownership to get a credit partner, but this might be the only way to establish the credit to buy the business. If you still can’t get a loan, look to private investors within your network or microlenders involved with local economic development agencies in your area.

What Loanyantra can do for your business loan?

Loan in five minutes. Get to know different bankers, different interest rates. Get a call from them and get customized quotes. Explain your business details completely for business loan. Get credit report and get an analysis done and know your business’s eligibility.


How to Calculate a Loan Loss Provision Coverage Ratio

How to Calculate a Loan Loss Provision Coverage Ratio

Loan loss provisioning is a systematic way of handling risks rationally, signalling managerial prudence. Banks across the globe follow a dynamic provision policy. Sometimes, a well – designed policy is not enough to safeguard the interests of all the stakeholders. One such prominent and time – honoured modus operandi to face contingencies is the rate of provisioning to be set aside annually to meet any contingencies.

Banks and credit unions are in the business of lending money to individuals, families and businesses. But not every loan is repaid in full; in fact, many banks lend to risky borrowers by charging high interest rates. To stabilize earnings and remain solvent in bad times, banks estimate losses and seek to hold enough capital to absorb future write-offs.

Estimated Losses: Loan Loss Provisions
The loan loss provision is a balance sheet account that represents a bank’s best estimate of future loan losses. Suppose that a bank extends a Rs.5,00,000, five-year loan to a gas station in its community. If one year later the borrower runs into financial problems, the bank will create a loan loss provision. If the bank believes the client will only repay 60 percent of the borrowed amount, the bank will record a loan loss provision of Rs.2,00,000 ((100 percent – 60 percent) x Rs.5,00,000).


Loan loss provision

Actual Losses: Net Charge-offs
Some time after creating a loan loss provision for a worrisome loan, a bank will discover how much the borrower is actually able to repay. At that moment the bank will record a net charge-off — the amount of the loan that will never be repaid. In the earlier example, suppose the bank is only able to collect Rs.1,00,000 from the gas station. In this situation the net charge-off would equal Rs.4,00,000 — an amount even greater than the original loan loss provision.


Loan Loss Provision Coverage Ratio
The loan loss provision coverage ratio is an indicator of how protected a bank is against future losses. A higher ratio means the bank can withstand future losses better, including unexpected losses beyond the loan loss provision.

The ratio is calculated as follows: (pre-tax income + loan loss provision) / net charge-offs.

In the earlier example suppose that the bank reported pre-tax income of Rs.25,00,000 along with a loan loss provision of Rs.8,00,000 and net charge-offs of Rs.5,00,000. Its loan loss provision coverage ratio would equal 6.6 (25,00,000 + 8,00,000) / 5,00,000.

Insights Into the Economy

Loan loss provisions are important not only to banks but to the broader business community. During difficult economic times, loan loss provisions and net charge-offs spiked as borrowers struggled to repay their debts. Loan loss provisions and net charge-offs can therefore serve as useful indicators of the overall health of the economy.

How Loanyantra helps

The bad debts to the banks make them run short of money and this will always make the banks increase the loan interest rates. Loanyantra’s customers will know it before hand, as our team constantly track the loan’s interest rate and sends alerts. Also know about different banks interest rates and get into the bank whose interest rate is lower and a process where you can finish the loan earlier.


PNB-Nirav Modi Scam. What did RBI do?

Is giving Letter of Credit / Letter of Understanding to Nirav Modi is a mistake by PNB?

Actually, according to the banking procedures, there should be  a collateral while lending money. Any lender should not lend money without taking anything as a guarantee.

So, PNB had given a letter of credit stating that PNB guarantees the on time repayment of the loan by Nirav Modi. This had become a common practice by the nationalised banks. For India to grow, these are the small steps taken and the authority given to such high officials. So, to be frank it is not a wrong step by PNB to Nirav Modi.

Another important thing while lending money is, while the borrower is already with an existing loan, the top up loan cannot be sanctioned without looking into the repayment details and guarantor details.

This is the wrong step by the letter of credit issuer and the lending banks that they blindly follow the brand as a guarantee from the borrower instead of looking at the details of their repayment status and credit score. Now, it is  a shock to PNB and the other lenders also as they have to face such huge bad debt.

PNB - Nirav Modi case
PNB-NiravModi Case – A big lesson to the whole Indian Banks and RBI.

PNB-Nirav Modi’s case is the same issue as Vijay Mallya’s case. Under Vijay Mallya’s case, the banks had given credit loan of 25 crores by taking the logo of the company as a guarantee. Under PNB-Nirav Modi’s case, the banks had given loan on one LoU, which is really ridiculous. The common man should roam around multiple banks just to get a simple personal loan to fulfil his needs, Whereas the so called promoters get the loan so easy that they can skip the loan and can roam away from India.

Will this misuse by so called bureaucrats influence common man? How?

The scams like PNB-Nirav Modi, Vijay Mallya, surely influence the banks’ economy and state’s growth. When there is such huge bad credit, the banks will not be in a state to pay the Fixed Deposit Interest Rate or Fixed Deposit withdrawls. This makes the banks increase the loan interest rates atleast by a minimum to cover the loss. So, ultimately, it affects the common man paying the loan interest rates.

Axis Bank (one of the lenders in PNB-Nirav Modi case), had already raised the MCLR to 10 basis points, leading to increased lending rates,the second time in last two months.

How did the NPA (Non Performing Assets ) problem become so big?

There are many reasons and no one reason can be attributed as the biggest problem. In some cases, it was just a case of bad promoters taking too much debt and even siphoning off money instead of trying to run a tight ship. They were in turn abetted by lax bankers who did not do much due diligence and also politicians who helped them get loans. In other cases, there were genuine reasons like telecom or mining licenses being cancelled after much money had already been sunk. In still other cases, it was the shortage of gas supplies from the KG basin, on which the project depended on, or dumping by Chinese in some goods. And then there were cases of over ambition where the promoters bought and expanded indiscriminately without having the management depth or the resources to run the companies properly.

The biggest reason for the NPA problem was that the banks got swayed by big project plans of businessmen and simply did not take enough precautions or enough due diligence.

What did RBI do for a solution after PNB-Nirav Modi case?

The new guidelines have specified framework for early identification and reporting of stressed assets. The Reserve Bank of India (RBI) on Monday came out with a revised framework for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC).

“In view of the enactment of the Insolvency and Bankruptcy Code (IBC), 2016, it has been decided to substitute the existing guidelines with a harmonised and simplified generic framework for resolution of stressed assets,” the RBI said in a notification issued after the PNB-Nirav Modi case came into light.

All lenders will be required to submit Central Repository of Information on Large Credits (CRILC)- Main Report to the Reserve Bank on a monthly basis effective April 1, 2018.

In addition, the lenders shall report to CRILC, all borrower entities in default (with aggregate exposure of Rs 5 crore and above), on a weekly basis, at the close of business on every Friday, or the preceding working day if Friday happens to be a holiday. The first such weekly report shall be submitted for the week ending February 23, 2018, with a view to harmonise the guidelines with the norms specified in the IBC, said the notification while withdrawing existing mechanism for dealing with the bad debt in the banking system. The new guidelines have specified framework for early identification and reporting of stressed assets.

If this practice is observed strictly, from now on, there are chances for many defaulters to come in light like PNB-Nirav Modi case. There are chances, in future to reduce the bad debts number.

But as of now, because of PNB-Nirav Modi’s case, 11,000 crore debt, it is sure that there will be an increase of lending rates.

You should not be the one to get victimised for such increase of lending rates. Be the first one to know which bank offers the lesser interest rate. Come, be a LOANYANTRA customer and know more tips and tricks about your loan interest rates.





How It Actually Happened – The Loanyantra’s Story

An experienced banker, Harsha, was performing his duty with respect to the banks and also to the end customers. He was aware of the customers problems and knew the banks’ tips regarding home loan. It was his passion to help the customers, in his best means, to get through the loan process as fast as possible.

On his way towards life, came a tech savvy customer, Vijayananda Reddy, who knew a little about home loan. His thirst was to come out of home loan as early as possible. He observed that his 2 year old home loan interest rate was higher than the market interest rate, loan tenure was increasing as the interest rate increases and no change in the loan EMI. So, the intelligent techie Vijayananda Reddy  quoted two issues to Harsha, the intellectual banker,

  1. I want to reduce my ROI to the present market ROI which is comparatively lesser than my ROI.
  2. I want to keep myself updated about the changing ROIs by different lenders.

Harsha, as his responsibility, is very positive and responsive in solving Vijayananda Reddy’s issues with utmost care and with a hassle-free process. The bright engineer thought he could be helpful to many home loan borrowers by automating this process and by bringing awareness to them.

There rose an initial seed for LOANYANTRA.COM. The two bright worlds banking and IT came together to create a customer friendly home loan process which includes automated, technology oriented home loan management. took its shape in January 2016 and started operating from T-hub, Hyderabad. Proud to be a chosen start-up for t-hub. Also victoriously winning the hearts of the investors.

Now, with its motto, pay less, pay fast, going ahead successfully with a team of 8. The well planned business strategy not only helps the home loan customers but also guides them to save to the maximum on their home loans.

The LoYans, as they call themselves, have processed 70 cr. loans majorly from Bengaluru and Hyderabad. They want the online home loan management to reach to all those 80% online users in India.

How does the standard deduction benefit the tax payers?

Union Budget 2018-19, introduced standard deduction of 40,000. Which is a pure deduction from tax, as the tax payer need not show any bills or documents to claim.

So, is the standard deduction really beneficial and how?

For example, a tax payer is getting a salary of Rs. 10,00,000. According to the taxation rules. There is a tax slab till Rs.5,00,000 wherein he need not pay the tax for the Rs.5,00,000. So, the next Rs.5,00,000 is considered as taxable income. The tax payer can claim for tax deduction if he has some investments or expenses. Say, before Budget 2018-19, the tax payer can claim for medical reimbursement of Rs. 15,000 by submitting proper medical bills. Also, there was transportation allowance 19,200.

However, the tax payer can claim those benefits only by showcasing the proper bills. With the budget 2018-19, the medical reimbursement and transportation allowance is removed. But a standard deduction of Rs. 40,000 is added. Which means, the tax payer, without proving or without any reason or without submitting any bills can just need not pay tax for that Rs.40,000. 

Aditya Modani, Tax Director, EY India, said, “Re-introduction of standard deduction meets the long-time wish of salaried class taxpayer. Standard deduction will be provided without any requirement to furnish any evidence for claiming such a deduction.”

It is a bundled exemption, in which the individual tax payer might benefit upto INR 5,800.

Budget and standard deduction
Budget and standard deduction

Plan Now and Save More

You can also get tax exemption if you have investments. Your investments can be in mutual funds, insurance, home loan.  You can claim tax benefits upto INR 3,00,000.

It is perfectly fine to invest. Invest now and claim tax benefit and save more. It is also best time to invest in home as the interest rates are lower. So add both the advantages and flow with the market. Loanyantra helps you to plan well and save more on your loans.

Get to know all the tax exemptions associated with home loans. Claim tax exemption on principal and interest. Loanyantra plans it all for you. Loanyantra is just a missed call away –  040-71011991. Get a call back to let us know more about your requirements. Get a customized service from dedicated relationship manager. Know about all the lenders and choose from the favourite banks with reduced interest rates. Also avail discount on interest rates for an year. Loanyantra will still follow your loan till you close the disbursal loan. Yes, loan. Know more to save more.



Budget 2018 and Your Loan – Repo Rate Unchanged

Budget 2018-19, the 5th budget and the last budget in P.M Narendra Modi’s tenure, presented by Finance Minister Arun Jaitley, left no hopes for reduction of home loan or personal loan interest rates.

Though the budget sounds rural and weaker section friendly, it is worth mentioning that it is a much foresighted budget which if really implemented and taken as it is to the poor, will surely make India Proud.

After a two day meet, the Monetary Policy Committee (MPC) of the Reserve Bank of India, announced a no repo rate change. Repo Rate, the rate at which the RBI lends money to the banks, doesn’t change and remains at 6%.Five members of the monetary policy committee voted to keep rates unchanged, with one member, Michael Patra, voting for a 25 basis points hike.

The inflation which is at a high pace is expected to increase further, as the analysts see. Commenting on the RBI policy statement, Anjali Verma, economist, Phillipcapital India, said: “The policy decision is in line with our expectation along with the hawkishness that is built into the statement. While we retain status quo from RBI for FY19, a risk to our call may come from higher inflation.”

Here are some other key projections from the central bank’s sixth bi-monthly monetary policy statement of 2017-18:

– GVA growth (value of goods and services) for 2017-18 projected at 6.6%
Reverse repo rate (rate at which it borrows from commercial banks) kept unchanged at 5.75%
– Inflation forecast at 5.1% in fourth quarter of fiscal year 2018
– RBI estimates retail inflation in 5.1-5.6% range in first half of 2018-19, 4.5-4.6% in second half.

Know about repo rate and its influence on loan interest rates

Repo Rate 6%
Reverse Repo Rate 5.75%
Interest Rate – Home Loan 8.3%
Interest Rate – Personal Loan 10.35%

Tax Advantage from Union Budget : 

There is no more medical reimbursement and transport allowance by the government to the salaried and the pensioners. There is a standard deduction of Rs. 40,000, no need of submitting bills and documents. There is an increase of 1% cess from 3% to 4%. The net income on which benefit would be available is INR 5,800 and consequential income-tax saving will depend on the income-tax bracket an individual falls in. In case of taxpayer who are differently abled persons, the transport allowance exemption would continue.

Tax Details Before Budget 2018-19 After Budget 2018-19
Medical Expenses 15,000 Nil
Transport Allowance 19,200 Nil
Standard Deduction 40,000

Loans Cheaper than Usual :

Repo rate vs interest rate
Repo rate vs interest rate

Before 2016, the home loan interest rates used to be 14%. Slowly RBI reduced the repo rate and in turn, there is a reduction in interest rates to 8.3%.

If you are one of the luckiest persons to shortlist your dream home, then why delay, the interest rates are much lower than ever before. Book your home and start paying your home loan EMI and close it as fast as you can.

Loanyantra looks at all your financial needs. Why worry for anything else. We look at the trends of the interest rates and guide you the best lender according to your requirements. Whether a home loan or personal loan, we are just a missed call away. Once you are our customer, your loan is our loan. Follow our updates and start saving on your loans and close it early.