Customers are increasingly preferring to pay through EMIs while buying high-value consumer items, as affordability has become a key factor in the post-pandemic scenario, payments solution provider Ezetap said on Thursday. Buying ability of consumers across the country has been significantly reduced due to the pandemic. They are either avoiding a single big payment or entirely skipping to buy any new item, Ezetap said.
Gaurav Mohta lists three ways to ensure a smooth financial situation for your family despite rising interest rates.
Home First Finance will be answering readers' home loan queries. Mail your queries to getahead@rediff.co.in with the subject line 'Home Loan Query' and we will have your queries answered by Home First Finance.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
Make sure buying a house won't lead to compromises on other crucial financial goals.
'We deposited money just yesterday, but they did not say anything...'
In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
While festive offers can reduce costs, borrowers should also consider the lender's transparency and service quality. Customers need to be mindful of their repayment capacity.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Financial markets are under stress and require steps by the central bank for market stability and revival of economic growth, he said while announcing the decisions taken by the Monetary Policy Committee in Mumbai.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Under the scheme, customers can now make zero down payment, avail a six-month EMI holiday (only interest needs to be serviced monthly) and access up to 100 per cent on-road funding for a loan tenure of five years, Tata Motors said in a statement.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
Experts say the move will make matters worse for buyers, reports Karan Choudhury.
Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
Using mantras from the Bhagavad Gita, Vatsal Ramaiya explains how you can conquer your home loan debt and unlock a world of financial freedom and peace of mind.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
Abhishek Agarwal takes a controversial view on how our dreams are being mortgaged by EMIs we keep paying month after month.
Your awareness about the effect of the home loan tenure and EMI on your loan empowers you to take better decisions, explains Gaurav Mohta.
If your total EMI payments exceed 35-40 per cent of your monthly income, use these strategies to avoid a Squid Game like debt trap, suggests Bindisha Sarang.
You will lose out on discounts and have to pay a higher premium.
Of course, NO! You must think of EMI option if and only if one is on the verge of defaulting on a payment.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
The actor returns to what he does best: act as a bhai.
Jiophone Next will be available from Diwali for Rs 6,499 per unit for customers wanting to buy the smartphone without financing option, Jio and Google said in a joint statement on Friday. Jio is also giving a finance option for the Jiophone Next where users can make an upfront payment of Rs 1,999 and pay the rest in easy monthly instalments spread across 18-24 months, the company said in a statement. "This is the first time that a phone in the entry-level category is getting a financing option.
Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
'Lack of self-control over spending leads to a credit card debt trap.' 'People think they have money and spend using a credit card, but when it's time to pay, they realise they don't have the money.'
Consumer durables retailers and manufacturers may end up bearing the cost of the Reserve Bank of India's (RBI's) tightening on easy personal loans, as their margins are expected to be impacted by higher borrowing costs. During the recently passed festival season, consumer durables companies started offering longer tenure loans, zero down payments, and zero interest on a wider assortment of products than ever before, making the products more affordable. While 18- and 24-month easy monthly instalment (EMI) options were available earlier, companies offered them only on select products; now, they are being extended to a larger section of products.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
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