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- Flexi Hybrid Home Loan allows paying only interest as EMI
- Principal holiday period of 4 years
- The principal and interest after 4 years paid only on the amount utilised
- Flexibility of flexi-interest and flexi term loan in a single loan
With the Reserve Bank of India (RBI) hiking repo rates in its bi-monthly monetary policy review by 25 bps, interest rates of several loans have already started tightening. Though aimed to control inflation, it’s anticipated that home loan borrowers will bear the brunt of the latest move by the apex bank.
Hike in repo rate would push up home loan interest rates and subsequently the EMIs. The move might be a dampener if you are a first-time home loan borrower. However, with Bajaj Finserv Flexi Hybrid Home Loan, not only do you get the requisite funds to buy your dream home but are also relieved of heavy EMIs. Read on to know more.
Payment of only interest component as EMIs
A regular home loan, on a fixed interest rate, taken from a financial institution consists of the interest and the principal component. During the entire loan tenor, the EMI remains constant. Though the interest and the principal ratio varies during the loan tenor, the EMI remains fixed.
However, with Bajaj Finserv Flexi Hybrid Home Loan, during the initial tenor, you pay only the interest as the EMI and nothing for the principal. The principal holiday period, where you need not pay anything towards the principal, lasts up to 4 years. Only after 4 years, the EMI will constitute the principal and the interest component.
So, for instance, if the EMI of your home loan is Rs.30,000, with the interest component amounting to Rs.20,000, during the initial 4 years, you need to pay only Rs.20,000. Only after 4 years, you need to pay the principal component of the EMI. This not only reduces your EMIs but also help you better manage your finances. Also, during the interest-only period, there’s no reduction in the loan limit.
Principal and interest only on the amount utilised
Unlike a regular home loan where you need to pay interest on the entire loan amount disbursed, in case of Flexi Hybrid Home Loan, after the principal holiday period of 4 years for the balance tenor, the EMIs would consist of the principal and the interest – only on the amount utilised from your approved loan limit and not on the entire limit.
For instance, if your approved limit is Rs.25 lakh for a tenor of 15 years, and you use only Rs.20 lakh from this limit, after the principal holiday period, from fifth year onwards, you need to pay the principal and the interest only on Rs.20 lakh. This further brings down the EMI and helps in savings in the long-run.
High EMIs – No longer a hurdle
Thus, with a Bajaj Finserv Flexi Hybrid Loan, high EMIs are no longer a hurdle in purchasing your dream home. Irrespective of hike in home loan interest rate, following RBI’s move, this new and innovative home loan offering helps you buy your dream home with utmost ease.
Even if you are early into your career, where generally income levels are low, you can go on and address the crucial life goal of buying the home of your choice. The principal holiday period of 4 years not only keeps your EMIs low but also ensures you are able to take care of day-to-day expense of running a household. Apply for home loan today and enjoy the joys of owning your own home.
With pre-approved offers from Bajaj Finserv on a gamut of loans including business loan, personal loan, etc., availing finance is easy and quick. No long queues and lengthy paperwork. Just share a few basic details to know your pre-approved offer within seconds.
Great historic events that have shaped the world and changed the outlines of countries are often not recorded in memory, or so we think. Wars made sure to destroy evidence and heritage, and the ones who survived told the tale of what really happened. Folklore, albeit through oral tradition kept alive many such stories, hidden in verse, limericks, and rhymes.
Ringa-ringa-roses, a common playtime rhyme among children across the world, is an example of folklore that has survived for many centuries. It tells the story of the The Great Plague of London which ravaged the city between 1665-1666.
The Plague broke out from improper disposal of garbage and poor sewage conditions. Fleas from the rats that lived in the sewers spread the disease that killed more than half of London's population. Many people fled from their homes as there was no medicine available for those who were infected.
Beak-shaped masks worn during the Great Plague of London Image source: wikimedia commons
It was around this time that masks began to be invented. The first masks were shaped like beaks, and were worn not to protect the wearer from the disease, but to the prevent them from being able to smell the decay and death around them, which they called 'miasma'. The beaks were filled with floral herbs that allowed doctors and nurses to tend to the sick without being reviled from the smell.
Children are often seen forming circles by holding hands and reciting loudly,
Pockets full of posies
We all fall down"
An illustration of the Great Plague of London, 1665 Image source: wikimedia commons
When the last line is sung, they break the circle and fall down. The roses and posies are believed to be the preferred fragrances inside the masks, and a single sneeze (a-tishoo) was enough to infect the one who was exposed to the disease. Consequently, they fell down, ill, and later died.
An alternative version of this rhyme is sung about the fall of Hiroshima and Nagasaki in the aftermath of World War II. The roses and posies are interchanged with geranium and uranium, to symbolise what was used in the atomic bomb. But this version is not as famous the original.
Keywords: Rhymes, Ringa-ringa-roses, Great Plague of London, WWII, Hiroshima, Nagasaki, Folklore
In modern times, many social movements aim to bring reform to the society we live in, on the basis of certain existing patterns. Patriarchy is something that many aim to cleanse our cultures of, to usher in the era of social and gender equality. Despite all these so-called movements, in southern India, certain societies that patronise matriarchy have existed since before India's independence. The Nairs and Ezhavas of Kerala, and Bunts and Billavas of Karnataka are matrilineal societies that continue to thrive in a patriarchal country.
Kerala remains separate from the rest of India in many ways. Be it literacy policy, form of government, or cultural practices, this state does not always conform to the ideal that India is known for. Even so with their social structure. Certain tribes have remained matrilineal, where the decision-making power rests with the eldest female of the family.
The Nairs and Ezhavas of Kerala, and Bunts and Billavas of Karnataka are matrilineal societies that continue to thrive in a patriarchal country. Image source: wikimedia commons
A male member, who is the close confidante of the matriarch is chosen. He plays a crucial role in representing the male members of his family, and his opinion is highly valued. He is called karavanan. The men reside in separate rooms or in separate houses, and do not interfere in the upbringing of children. Property is also passed down along the lineage of the eldest female. Among the Nairs, matriarchy is more prominently adhered to than the Ezhavas, who have some patrilocal connections.
In Karnataka, the Bunts and Billavas belong to the Tuluva ethnic group. They are also a predominantly matriarchal society, founded on the belief in a legend. Their matrilineal descent is known as Aliyasantana.
The story is told of a demon who threatened to destroy a kingdom if the king did not sacrifice his sons, but the king's sister comes forward to offer her children in sacrifice for the sake of the kingdom. The demon is touched and does not destroy the city. Since then, the kingdom, or the property is inherited through female lineage.
In Karnataka, the Bunts and Billavas belong to the Tuluva ethnic group. They are also a predominantly matriarchal society, founded on the belief in a legend. Image source: wikimedia commons
In the recent past, many of these matriarchal societies have been reduced to matrilineal societies by certain governmental laws. They fall under the patriarchal scheme of the rest of the state but have reserved the right to pass on property and heritage through the female line. In the North east of India, matriarchal dominance is far more resilient than the south.
Keywords: Bunts, Billava, Nair, Ezhava, Aliyasantana, Matrilineal, South India, Karnataka, Kerala
Apple inc. Is an American multinational tech firm specialized in consumer electronics, computer programs, and internet services founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976 to manufacture Wozniak's Apple iComputer. It is the world's top tech company in turnover (totaling $274.5 billion in 2020) and its most valuable corporation. Apple is the fourth-largest PC seller by unit sales and the fourth-largest smartphone manufacturer in the world.
Apple has revealed a slew of new products at a special launch event that has been long-awaited. On the day of the live event, Apple announced the iPad mini, Apple Watch Series 7, iPhone 13 mini, and iPhone 13, as well as the iPhone 13 Pro and iPhone 13 Pro Max.
Apple has revealed a slew of new products at a special launch event that has been long-awaited. | Photo by Daniel Romero on Unsplash
In the first major product announcement during the event, Apple introduced the newest edition of the iPad and a 5G-capable iPad Mini.
iPad: The 10.2-inch iPad is equipped with a solid A13 processor that delivers 20 percent quicker performance than the preceding version. According to Apple, it is now three times faster than a Chromebook. A new 12MP ultra-wide camera with Center Stage, which utilizes machine learning to optimize the front-facing camera during FaceTime video chats, as well as more incredible accessory support, including compatibility with the first-generation Apple Pencil, are among the new features. For 64GB of storage, the iPad costs $329.
iPad Mini: In addition to reduced borders and more rounded edges, the 8.3-inch iPad mini also has improved front and back cameras. A liquid retina display, USB-C compatibility, magnetic support for the Apple Pencil, an enhanced speaker system, and new hues such as pink and purple are all features of the new Apple iPad Mini. The starting price is $499.
In the first major product announcement during the event, Apple introduced the newest edition of the iPad and a 5G-capable iPad Mini. | Photo by Leone Venter on Unsplash
The other major unveiled products include:
iPhone 13 and other variants: The iPhone 13 range is almost identical to the iPhone 12 lineup, with a 5.4-inch iPhone 13 Mini, a 6.1-inch iPhone 13, a 6.1-inch iPhone 13 Pro, and a 6.7-inch iPhone 13 Pro Max. It was also revealed that the Watch Series 7 has a smaller "S7" processor, which may allow for a bigger battery or other components to be housed in a smaller footprint. The gadgets have a revolutionary design that includes a dual-camera system, placed diagonally. Apple's iPhone 13 and iPhone 13 mini have longer-lasting batteries than the previous generation of devices. In addition, Apple claims that the iPhone 13 will have a battery life that is 2.5 hours longer than the iPhone 12, and the iPhone 13 mini will have a battery life that is 1.5 hours longer. A more energy-efficient display, an upgraded 5G chip, and functionality called "Cinematic Mode," similar to the famous Portrait mode function but is only available for movies, are among the other enhancements. The A15 Bionic chip present in the iPhone 13 and iPhone 13 mini is also used in the 6.1-inch iPhone 13 Pro and 6.7-inch iPhone 13 Pro Max, also 6.1-inch devices. However, it also has a five-core CPU, which promises graphics that are 50% quicker than previous models. Other notable features of the Pro devices include a brilliant Super Retna XDR display with a higher refresh rate and long-lasting battery life. Now, for the price, it will start at $699 for the iPhone 13 mini with 128 GB of storage, $799 for the iPhone 13 with 128 GB of storage, and the Pro and Pro Max have starting prices of $999 $1,099, respectively.
Apple Watch Series 7: The new Apple Watch Series 7, which is smaller and has a larger screen than its previous model, was introduced by Apple on Wednesday. There is a 20% increase in screen size over Series 6 on the new watch. A complete keyboard that you can touch or slide to write out text messages can show 50% more text. It starts at $399.
Keywords: Apple, iPad, iPad Mini, iPhone 13, iPhone 13 pro, iPhone 13 Pro Max, iPhone Mini, Apple event 2021