Paisamagnet a Personal Finance Blog

Health insurance can be ported from one insurance provider to another. It is better to port your policy rather than buy a new one will not have any general waiting period and waiting period for pre-existing disease if any will be adjusted against waiting period completed till date.

Points to remember while porting your health insurance.

• You can port only at time of...

No claim bonus (NCB) is a discount on vehicle insurance given by insurance company for every claim free year. In Standard vehicle insurance premium is addition of  two components third party insurance premium and self damage premium. Additional premium will be charged for add on's like zero depreciation cover,road site assistance etc. No cla...

If you ask me which is best investment real estate or mutual fund, then i would choose the later option. It would be a different story if you are planning to buy home for self use.

Reasons for my choice are listed below.

1.Return on investment: Equity mutual funds provide on a average 12–15% returns in the long term.Real estate is a cyclical sector so time of entry a...

Require money for home improvement or to fund marriage expenses, new car etc, then you can go for top up on existing home loan.

How does home loan top-up work ?

1.Tenure for top-up loan will be equal to tenure balance for existing home loan. For example for your existing home loan 14 years are balance out of original 20 years, then top-up loan will also have tenure of...

Planning to buy a new health insurance policy, then go through this checklist before you zero down on any particular policy or health insurance provider. 

1. Individual or family floater : Premium for health insurance decided based on age of oldest member in family floater policy. If you are planning buy a policy for yourself and parents, then buy two separate polices...

People invest in mutual fund NFO thinking that they can make listing similar to IPO of share market, but this is nothing but a myth. Before we dig dipper on difference between IPO and NFO, you should know below listed terms.

• NFO: New Fund Offer.

• IPO: Initial Public Offer.

• NAV: Net Asset Value.

How does stock market IPO work ?

In stock market I...

Everybody wants to prepay and get rid of home loans as soon as possible, but it may not always make a sense to prepay your home loan. 

To drive our point we need to first find your effective home loan interest rate, for this we assume that you have a Rs 20 Lac home loan with tenure of 20 years(24 months) at an interest rate of 10% .

Home loan principal and i...