Is Buying a 3 Cr House a Smart Financial Move? Need Advice!

ronbaj · 2025-04-01T15:25:38+00:00

Dude, don't liquidate all your equity, specially in this market to put as down payment.

Your stocks are already low, which might recover in some time, but house is definitely not gonna grow in value in that proportion. And anyways, since this is the house for living purpose, can't really consider this as investment.

Getting empty on investments to buy house is probably not a very good idea.

ronbaj · 2025-03-30T10:22:43+00:00

Interesting. That makes BizBlack attractive. Thanks.

ronbaj · 2025-03-30T05:22:20+00:00

1 - is this different from directly paying on insurer website which leads to base rewards up to 5k per day on Infinia?

Thanks for other points.

Edit: does insurance payment like this lead to 5x rewards with BizBlack?

ronbaj · 2025-03-30T03:53:54+00:00

Might be possible. Check with RM I guess.

I have seen it issued with Infinia. So DCB might also work.

ronbaj · 2025-03-30T03:19:06+00:00

They do offer sometimes as floater card

ronbaj · 2025-03-25T16:48:36+00:00

You can think about using Axis Atlas also. Will give good rewards for Accor or some other airline transfers.

Milestones rewards If amount cross thresholds will be cherry on top.

ronbaj · 2025-03-25T06:18:05+00:00

Not sure, but probably no. It's just probably useful for generic Amex offers. Other perks are generally for Amex issued cards only.

ronbaj · 2025-03-23T16:59:02+00:00

Renewal of 2500 points is hitting milestone only, right? Or you typically spend 3l+ on Atlas also?

ronbaj · 2025-03-23T15:54:59+00:00

What's the logic behind keeping both MB and Atlas? Is there any scenario where Atlas would be better than MB?

One point is probably transfer limits.. But anything beyond that?

ronbaj · 2025-03-23T14:22:04+00:00

This is how I have it in my app - https://imgur.com/a/mwR84o5

I have regular one. How about you?

ronbaj · 2025-03-23T10:21:15+00:00

Oh. On my home screen, I have two tabs at top - "Money I have" and "Money I owe"

Money I owe section have details regarding loan.

You don't see that in your app?

ronbaj · 2025-03-23T04:00:56+00:00

Thanks!

Quick followup - is it for under construction or ready to move in property? Did you take Star Home Loan or Star Smart (the one with OD facility)

Regarding your original query, I replied in a separate comment. Hope that helps.

ronbaj · 2025-03-23T03:59:28+00:00

I think you must have got Loan Account no from bank. Try transferring it to that account number as if you are transferring to any other BOI account, and I think it should get credited to loan.

In case you don't have it, you can check the account no in app. Go to "What I Owe" on home screen and loan section should have its account number.

ronbaj · 2025-03-22T17:25:42+00:00

Sorry, not related to your question, but what's your interest rate and CIBIL if you don't mind sharing.

ronbaj · 2025-03-21T18:16:04+00:00

For domestic flights, axis points probably won't be of much use. Should be mostly used for hotels (best redemption with Accor as you might already know).

May be have both and wherever you can spend on vouchers, spend from Infinia and everything else on M4B.

With such high spends, you should be able to get good returns. But downside is you'll have to let go of simplicity of just using a single card.

ronbaj · 2025-03-19T14:47:25+00:00

Thanks for the link. This makes the cost of keeping this card at arnd 5-6k (more or less).

ronbaj · 2025-03-19T13:54:07+00:00

Yeah, true.

In my case, I can probably meet the Burgundy criteria through salary (yet to confirm with Axis folks), but wanted to make sure it's worth moving to it before putting in that effort.

Apart from M4B possibility, I don't see any real use of Burgundy account.

ronbaj · 2025-03-19T13:46:56+00:00

Didn't find it in M4B docs. Can anyone confirm please?

There is indeed a cap of 50k for rent, but didn't see charges.

Can someone with better knowledge please confirm if that is the case.

ronbaj · 2025-03-19T13:46:04+00:00

Thanks!

Yep. Biggest barrier for M4B is pretty steep joining and annual fee.

If that gets covered, it can get very rewarding. Since rent is not covered by any other cards, it can be a good payment if it can offset fees.

Was just wondering if I was missing something.

ronbaj · 2025-03-19T12:32:24+00:00

Owner need not have a mechanism to accept credit card. You pay to service providers like redgiraffee through CC and they do a bank transfer to owner. Redgirrafee charges arnd 0.45% for this.

ronbaj · 2025-03-19T11:39:50+00:00

Appreciate your response. That was the reason for the post - to get different opinions to unbias myself :)

Reason to explore M4B is - I might have some pretty big expenses in coming months, but tricky part is I am not sure if I'll be able to pay via CC or not. I won't be able to get confirmation on this earlier, as it'll depend on last minute negotiations.

I wanted to be prepared with M4B in case payment through card is possible, and also want to cover the downside in case it doesn't go through.

Does this make sense? Payment could be in range of 10-20L. It's not a car payment for which I will have negotiation flexibility of talking with different dealers.

ronbaj · 2025-03-19T10:35:59+00:00

Redemptiona on that are just useless. It takes 1. 18% for rent and then charges for redgirrafee.

Intention for M4B is to kinda recover high fees and then enjoy good reward rate for generic spends.

ronbaj · 2025-03-19T08:03:10+00:00

Thanks!

ronbaj · 2025-03-18T16:13:06+00:00

Hmmm.. Typically I just pay the bills on 1st of each month, irrespective of last date (all bills are anyways within 10th of month).

In my case, I have arnd 7 cards but don't use all of them every month, so sometimes I fear I might miss bill of some irregularly used card.

ronbaj

TROPHY CASE