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.
P V Subramanyam takes a hard look at the pros and cons of both options.
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.
Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.
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.
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.
IMAGES from the Premier League matches played on Saturday.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Hence, at the end of the day the reason why people are not buying real estate is because real estate, especially in the larger cities, is terribly expensive.
State Bank of India hikes lending rates, and other banks pick up the signal.
Politely decline to be prime minister, and hand the baton to someone else in the BJP -- like Sonia did to Manmohan Singh -- advises Krishna Prasad.
Personal loans and credit card loans provide quick access to money when it is urgently needed, but they also carry risks for borrowers.
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.
Liverpool's slim Premier League title hopes faded further on Saturday when Michail Antonio's late header earned West Ham United a deserved point with a 2-2 draw.
Amortisation, or break-up of your loan into interest and principal, is the key that can unlock the secrets of your loan by lifting the numerous curtains that banks put on it when offering you credit.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
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).
Arsenal's title hopes hit with 2-0 loss to Villa as Man City get boost
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
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.
'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.'
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
'Starting an SIP now and continuing with it is likely to translate into high returns over the long term.'
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).
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.
'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.'
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.
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 home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
If you default, the bad behaviour stays in your credit report for a very long time
'You suddenly realise that in this entire big scheme of things, you're just one speck.'
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
Due to unseasonal rains, the second quarter of financial year 2023-24 (Q2FY24) was disappointing for the room-air conditioner (RAC) segment and Q3FY23 was also slow. While general consumption demand was low in Q3FY24, the low base and the pent-up demand from the first half of financial year 2023-24 (H1FY24) seem to have driven an off-season demand for RACs.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
