A few important factors to keep in mind while applying for a home loan, and strategies to manage it, whatever your age.
The Reserve Bank of India (RBI) on Thursday extended the card-on-file (CoF) tokenisation deadline by six months to June 30, 2022, in view of various representations received from industry bodies. Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions. The earlier deadline was December 31, 2021. "In light of various representations received in this regard, we advise...the timeline for storing of CoF data is extended by six months, ie., till June 30, 2022 and post this, such data shall be purged," RBI said in a notification addressed to all payment system providers and payment system participants.
Always be clear about the clauses and conditions laid down by your bank or housing finance company. If at all you skip this task then you may face a major problem during the entire tenure of your loan or may be even beyond that.
Check for hidden costs such as processing charges, especially for products below Rs 50,000.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
Commercial aviation is safe because the crew is paid well and trained extensively for contingencies
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A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
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There will be tripartite pact with member, bank/housing agency and EPFO.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
Facebook enabled users to mark themselves safe in Chennai since Thursday morning
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
Premium property developers plan easier EMIs to cast net wider.
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Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
The guild, which claims to represent around 1,100 of the 1,600 Jet pilots, had earlier warned to go on strike from April 1, unless their salary dues were cleared and clarity was provided on future payments by March 31.
When does it make sense and when does it not?
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
Only a small percentage of passengers who traveled on the trains involved in the June 2, 2023 accident in Odisha had availed of travel accident insurance while booking their tickets online on the IRCTC portal.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
You can get a lumpsum sanctioned, but you may draw only part of it and pay interest on the amount used.
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If one has to draw a parallel to a home loan, marriage comes pretty close. There is a high involvement of finances, emotions and a long time commitment. But don't let this analogy send your thought trail in a frenzy! Just like marriage, this can turn out to be the best decision of your life.
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A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
Balance transfer is a facility in which you can transfer outstanding balance from one credit card to another. It works well if you have multiple cards.
To make the most of your vehicle, use the age-old 20/4/10 personal finance rule, suggests Bindisha Sarang.
You can build your credit score and get tax benefit, but defaulting will make life difficult.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
Rising property prices and the inflation hardly leaves sufficient amount after the payment of the EMIs.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
While the stress is lower than projections, it would be higher than what we saw last year because of the pandemic: Axis.
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