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Time of India
5 days ago
- Business
- Time of India
No home loan deductions in new tax regime: Why prepayment makes sense & how it can help you save on interest outgo
Home loan tax benefits : With key tax incentives not available under the new income tax regime, many loan borrowers are reassessing home loan repayment strategies. Many borrowers are now favouring early prepayments to cut interest outgo and loan tenure. Tired of too many ads? go ad free now The old tax regime allows borrowers to claim deductions of Rs 2 lakh on interest under Section 24(b) and Rs 1.5 lakh on principal under Section 80C. The new income tax regime doesn't have these benefits, reducing the incentive to maintain long-term loans. 'While earlier tax deductions justified holding on to loans, the new tax structure weakens that logic as the cost has gone up,' said Amar Ranu, Head–Investment Product & Insights at Anand Rathi Shares and Stock Brokers, according to an ET report. Benefits of prepaying home loans Prepaying a home loan, especially in the early years, significantly reduces interest payments because EMIs are front-loaded—meaning most of the initial outgo covers interest. For instance, on a Rs 50 lakh loan at 8.5% for 20 years, borrowers would pay over Rs 48 lakh in interest. A Rs 5 lakh prepayment in the third year could shorten the tenure by 3–4 years and save up to Rs 12 lakh in interest, according to the ET analysis. When lump sum prepayments are not feasible, increasing EMIs gradually as income rises is an effective alternative. A 10% annual EMI increase can cut the loan term to under 10 years, while a 5% rise can bring it down to 12–13 years. Annual Increase in EMI Interest Saved (Rs lakh) EMIs Saved 5% 16.1 80 10% 22.2 109 15% 25.6 125 20% 27.9 136 Source: ET report A dual strategy of periodic prepayments and stepped-up EMIs yields maximum savings. This disciplined approach doesn't necessarily demand big sacrifices. Redirecting bonuses, maturing fixed deposits, life insurance proceeds, or funds from low-yield assets can help build a prepayment pool. Tired of too many ads? go ad free now 'Prepaying 5% of the loan every year is a sensible and manageable target,' said Ranu. While early repayment yields the most savings, it becomes less effective in later stages of the loan. Borrowers in the final years may be better off continuing with the loan—particularly if the interest rate is low or they have access to investments offering higher returns. 'Prepaying your loan is like saving money at the same rate as your loan interest. So, if your home loan rate is 8.5%, every rupee you prepay helps you avoid paying 8.5% interest on it, which is as good as getting a risk-free return of 8.5%,' said Vipul Patel, Founder of in the ET report. Experts also advise checking for hidden charges before prepaying, maintaining adequate emergency funds, and ensuring liquidity before committing excess cash to loan repayment. While markets may offer higher returns, prepayment guarantees fixed savings and peace of mind.
Time of India
25-06-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed amidst easing Iran-Israel tensions? Here's the outlook
Gold rate today: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions. (AI image) Gold price prediction today: Gold rates have been declining amidst easing Iran-Israel tensions and lower demand for safe haven assets. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions Last week global central banks showed caution with mixed policy moves, the US Fed continued to pause, signalling slower cuts on stagflation concerns, Swiss and Norwegian banks did cut, while BoE and the BoJ held steady. Economic data highlighted strains across regions amid escalating geopolitical risks. Global equities mostly closed lower on Middle East tensions, while US Treasuries rallied, the dollar edged up, and oil advanced. In the current week gold started with a modest upside on escalating middle east geopolitics but gave up gains on Tuesday as the US President Donald Trump announced that both nations had agreed to a complete ceasefire, adding that Iran will begin the truce immediately, followed by Israel. The yellow metal also hit an all-time high last week on MCX after Israel launched military operations targeting Iran's nuclear power plant sites. Investors now turn their attention to Federal Reserve Chair Jerome Powell, who is set to testify before US Congress on Tuesday and Wednesday, for any signals on the future path of interest rates. After setting a record just over $3,500 an ounce in April in spot markets, gold had consolidated in a roller coaster ride, while bearish sentiment has now started to seep into the market despite geopolitical tensions. This is due to the fact that gold prices have now discounted major fundamentals while a wave of corrective moves looks likely in July month. On the fundamental side, prices could look ahead to Fed Chair testimony for further clues on monetary policy outlook amid a data heavy week ahead. Gold Weekly View: Sideways to Downside (1 - 2 weeks) Gold Strategy: Sell on Rise MCX Gold looks to test downside support at around Rs. 95,200 - 94,800 per 10 gm levels on Aug. futures contract (CMP Rs. 97,240) in the weeks ahead. In International spot markets (CMP $3320/oz), a close below $ 3270 on daily basis is required for further downside up to $3225-3220 per oz in spot. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hindu
20-06-2025
- Business
- The Hindu
Rupee rises 14 paise to close at 86.59 against U.S. dollar
The Rupee appreciated by 14 paise to close at 86.59 (provisional) against the U.S. dollar on Friday (June 20, 2025) aided by a fall in global crude oil prices and a weakening greenback. A strong show in the domestic equity markets and FII inflows further supported the local unit, according to forex traders. At the interbank foreign exchange, the Rupee opened at 86.65 against the U.S. dollar and traded in a narrow range of 86.55-86.67 before settling at 86.59 (provisional), up 14 paise. The Rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday (June 19, 2025), logging a combined loss of 69 paise during the past three sessions. "The Rupee eased today (June 20, 2025) but declined a little more than 1% this month so far, with a large portion of its decline occurring after Israel attacked targets in Iran last Friday(June 13, 2025). The attacks also raised concerns about disruption of global oil prices, sending Brent crude oil futures to a five-month peak around $79 per barrel," Maneesh Sharma, AVP-Commodities & Currencies, Anand Rathi Shares and Stock Brokers, said. "The local currency ... was comforted by a dip in oil prices after the White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war," Mr. Sharma said. Meanwhile, expectation that HDB Financial IPO is likely to witness significant inflows is seen as positive for the Rupee as broad range of 86.20-86.70 may persist during start of the next week, he added. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.30% lower at 98.60. In the domestic equity market, the 30-share BSE Sensex jumped 1,046.30 points to settle at 82,408.17, while Nifty surged 319.15 points to 25,112.40. Brent crude, the global oil benchmark, declined 2.36% to $76.99 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth ₹934.62 crore on a net basis on Thursday (June 20, 2025), according to exchange data.
Economic Times
18-06-2025
- Business
- Economic Times
Commodity Radar: MCX crude oil futures cross 200-DMA amid Israel-Iran tension. Can it breach this crucial resistance zone?
Tight inventories and a declining number of operational oil rigs have kept the prices in a positive territory throughout June, so far. Synopsis Crude oil prices are on an upswing amid escalating Israel-Iran tensions, tight inventories, and declining rig counts. Naveen Mathur of Anand Rathi says prices could stay elevated unless tensions ease. With key resistance at Rs 6,300 and global volatility, oil remains bullish despite intermittent profit booking. Amid growing geopolitical unrest between Israel and Iran, oil prices are back in their 70s and concerns over disruptions at the Strait of Hormuz and targeted energy infrastructure, combined with declining oil rigs and tepid OPEC supply, are pushing prices higher, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said. He sees that market sentiment remains bullish unless tensions ease significantly. Edited excerpts: ADVERTISEMENT Crude oil futures were trading in the green on Wednesday, notwithstanding some profit booking in the international markets. Crude oil prices have firmed up on Israel-Iran tensions, and there is a view in certain sections that the prices could double to $150 per barrel. The July crude oil futures were trading at Rs 6,324 per bbl on the MCX, gaining Rs 25 or 0.4% over the previous closing. Meanwhile, on the COMEX, crude oil contracts were trading around $74.54 per bbl, declining by $0.30 or 0.40%. Brent oil futures were down by $0.44 or 0.58% and hovering near the $76.01 mark. Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers said that the geopolitical tensions have once again gripped oil markets, this time driven by the escalating Israel-Iran conflict and the potential for supply disruptions, which have acted as a catalyst for oil's dramatic 10% price rise over the last five days. Moreover, tight inventories and a declining number of operational oil rigs have kept the prices in a positive territory throughout June, so far. 'The recent escalation in tensions has added fuel to the rally, with prices up nearly 20% so far this month. There is a heightened risk to Iran's oil output (OPEC's third-largest producer), and potential disruptions around the Strait of Hormuz—through which roughly 20% of global oil shipments pass—are fueling volatility. The fact that both sides have targeted energy infrastructure is a clear cause for concern, with the key export hub of Kharg Island and oilfields in Iraq potentially at risk. However, the threat to block the Strait of Hormuz remains the biggest wild card,' Mathur added. ADVERTISEMENT Mathur highlighted that oil rigs continue to decline and are now at their lowest level in four years. Moreover, despite OPEC's announcement of an aggressive unwinding of production cuts, the actual output increase in May was much lower than expected. 1. Key levels: Resistance & Support ADVERTISEMENT MCX Crude Oil is displaying a bullish trend as it trades above the 200-Daily Moving Average (DMA) at Rs 5,846, though it faces a significant resistance level at Rs 6,100, and a breakout above this could trigger further upside momentum, the Anand Rathi expert resistance levels are seen at 6300, 6460, and 6850, while support is placed at 6011, 5840, and 5700. 2. Moving Averages: A positive crossover of the 21 and 50 Daily Moving Averages reinforces the bullish sentiment. ADVERTISEMENT The MACD indicator continues to trend above the zero line, adding strength to the upward Crude Oil is approaching a crucial zone between $70 and $73, with $68 acting as a strong support level for a potential upside rally towards $75–$78. Additional support levels are identified at $65.90, $64, and $62.40. Also Read: Commodity Radar: Copper gets a Chinese glow. Is it time to mine profits? ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
18-06-2025
- Business
- Time of India
Commodity Radar: MCX crude oil futures cross 200-DMA amid Israel-Iran tension. Can it breach this crucial resistance zone?
Live Events Tech View 2 things to watch out for Outlook (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Amid growing geopolitical unrest between Israel and Iran, oil prices are back in their 70s and concerns over disruptions at the Strait of Hormuz and targeted energy infrastructure, combined with declining oil rigs and tepid OPEC supply, are pushing prices higher, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said. He sees that market sentiment remains bullish unless tensions ease significantly. Edited excerpts:Crude oil futures were trading in the green on Wednesday, notwithstanding some profit booking in the international markets. Crude oil prices have firmed up on Israel-Iran tensions, and there is a view in certain sections that the prices could double to $150 per July crude oil futures were trading at Rs 6,324 per bbl on the MCX, gaining Rs 25 or 0.4% over the previous on the COMEX, crude oil contracts were trading around $74.54 per bbl, declining by $0.30 or 0.40%. Brent oil futures were down by $0.44 or 0.58% and hovering near the $76.01 on the current trends, Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers said that the geopolitical tensions have once again gripped oil markets, this time driven by the escalating Israel-Iran conflict and the potential for supply disruptions, which have acted as a catalyst for oil's dramatic 10% price rise over the last five tight inventories and a declining number of operational oil rigs have kept the prices in a positive territory throughout June, so far.'The recent escalation in tensions has added fuel to the rally, with prices up nearly 20% so far this month. There is a heightened risk to Iran's oil output (OPEC's third-largest producer), and potential disruptions around the Strait of Hormuz—through which roughly 20% of global oil shipments pass—are fueling volatility. The fact that both sides have targeted energy infrastructure is a clear cause for concern, with the key export hub of Kharg Island and oilfields in Iraq potentially at risk. However, the threat to block the Strait of Hormuz remains the biggest wild card,' Mathur highlighted that oil rigs continue to decline and are now at their lowest level in four despite OPEC's announcement of an aggressive unwinding of production cuts, the actual output increase in May was much lower than Crude Oil is displaying a bullish trend as it trades above the 200-Daily Moving Average (DMA) at Rs 5,846, though it faces a significant resistance level at Rs 6,100, and a breakout above this could trigger further upside momentum, the Anand Rathi expert resistance levels are seen at 6300, 6460, and 6850, while support is placed at 6011, 5840, and 5700.A positive crossover of the 21 and 50 Daily Moving Averages reinforces the bullish MACD indicator continues to trend above the zero line, adding strength to the upward Crude Oil is approaching a crucial zone between $70 and $73, with $68 acting as a strong support level for a potential upside rally towards $75–$78. Additional support levels are identified at $65.90, $64, and $ Read: Commodity Radar: Copper gets a Chinese glow. Is it time to mine profits? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
