What portion of your salary should you spend on loan EMIs?
Most people buy a house or a car by taking a loan from the bank, but do you know what is the maximum portion of your salary that you should spend on EMI? What is the 40 percent EMI rule? What are the disadvantages of spending more on EMIs? Among home loan, personal loan, auto loan and credit card bills, which loan should you eliminate first?
Infosys closed over 9% in red on the Bombay Stock Exchange (BSE). Last week, Infosys had reported lower-than-expected growth in the fourth quarter net profit. The IT bellwether had given a weak 4-7 per cent revenue growth guidance for FY24. As a result, Infosys emerged as the biggest laggard among the Sensex pack on Monday. The counter closed at Rs 1,258 on the BSE. Other IT stocks like TCS, Tech Mahindra, HCL Technologies and Larsen & Toubro dreaded investors as Sennsex plunged 520 points and closed below 60,000 points. Nifty50 on also took a plunge and managed to end the day just above 17,700 levels. Both the equity benchmarks fell for the first time in last 10 trading sessions.
Published: April 17, 2023, 16:59 IST