 "Benefit only for low home loan slabs")
Festival season and discounts go hand-in-hand. And, discounts are packaged very attractively to spur you into buying the latest television, fridge or other goods, whether you need it or not.
Many have started understanding the financial engineering that goes behind such discount offers. For example: Zero per cent schemes. All of us now know these schemes simply pass on the discount from the manufacturer/seller to the lender, rather than to you. And the interest rate charged is 16-18 per cent a year.
Recently, a friend called me to decipher the latest home loan offers by two prominent banks, ICICI Bank (one per
