India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.
Top four consequences for you to keep in mind before you miss a mortgage payment
While financial planning is good for you, the process which a planner can put you through is not so great, observes financial planner P V Subramanyam.
RBI rate cut is a welcome step for all citizens of India as everyone is looking for near-term boost in economy.
SKODA introduced a 'Holiday Offer' whereby a customer can buy the car and pay EMI a year after the purchase.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
The interest charged on an inter-state loan given to a credit card holder without the use of a plastic card would not be subject to the integrated goods and services tax (IGST), a two-judge bench of the Calcutta high court has ruled. In this connection, it recently set aside a ruling by a single judge of the high court. The issue was a loan of Rs 650,000 granted by Citi Bank with an EMI of Rs 58,056 for 12 months and inclusive of integrated GST (IGST) on each installment of interest.
Vodafone, which is offering the iconic Apple iPhone in India along with Airtel, has tied up with Axis Bank and Barclays to offer the phone on six or 12 equated monthly installments (EMIs) for customers who may find the Rs 31,000 to Rs 36,000 price tag too steep.
Arsenal's title hopes hit with 2-0 loss to Villa as Man City get boost
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24. While it managed to deliver strong earnings growth, it saw a perceptible decline in net interest margin (NIM) and suffered deteriorating asset quality. Taken together, the market was disappointed with the share dropping 3.5 per cent.
Reserve Bank Governor Raghuram Rajan on Tuesday again surprised the markets and raised the key policy rate by 0.25 per cent to 8 per cent in a bid to curb inflation, a move that may translate into higher EMIs and push up the cost of borrowing for corporates.
A lowdown on the strings attached to such credit card schemes and when you should and should not opt for them.
ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments for a large number of its borrowers by enhancing the tenure of their home loans.
The offer will be valid on Galaxy Note 2, Galaxy S3, Galaxy Grand, Galaxy Tab2 as well as Galaxy Camera.
Personal loans and credit card loans provide quick access to money when it is urgently needed, but they also carry risks for borrowers.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
Here are some golden nuggets when it comes to creating wealth. Read them and if you find yourself saying, 'This everybody knows', cross your heart and ask yourself how many times you have forgotten these simple rules, says P V Subramanyam.
The main culprit is the lack of transparency that your lending bank of housing finance institute employs in determining home loan rates.
'Try to obtain a secured personal loan or credit card by offering some collateral, such as a fixed deposit or gold.' 'Not only will this improve your eligibility, but the lender may even offer a lower interest rate.'
It has been decided to reduce home loan rate by 20 basis points.
Acer India has announced a tie-up with Bajaj Finance to provide consumers across India with a six-month EMI and zero per cent interest option on Acer's entire range of notebooks and desktops.
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
The Reserve Bank on Wednesday increased the benchmark lending rate by 40 basis points (bps) to 4.40 per cent in a bid to contain inflation, which has remained stubbornly above the target zone of 6 per cent for the last three months. The decision follows an unscheduled meeting of the Monetary Policy Committee (MPC), with all six members unanimously voting for a rate hike while maintaining the accommodative stance. While the inflation has remained above the targetted 6 per cent since January, RBI Governor Shaktikanta Das said the inflation print in April is also likely to be high.
The shrinking sales of residential apartments have forced real estate developers in Pune to even pay the monthly home loan installments of their customers who have lost jobs due to the economic slowdown.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
The One97 Communications stock saw a surge in interest as the company's operating performance update for August was considered positive by the Street. In addition, there was a news buzz as the company released a new hitech soundbox, which has longer battery life and processes all major cards. The performance indicates that the company, which is better known by its Paytm brandname, is still on course to achieve its guidance of going cashflow positive by the end of the 2023-24 financial year (FY24).
'You suddenly realise that in this entire big scheme of things, you're just one speck.'
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
'Starting an SIP now and continuing with it is likely to translate into high returns over the long term.'
State Bank of India hikes lending rates, and other banks pick up the signal.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card). On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in near-term concerns. Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face pesistent magin pressure.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
Read on to find out the truth about how change in interest rates work and why a change in rate cut doesn't always mean an immediate lower EMI.
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