The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
Sujata Ahlawat, Senior Vice President and Head of Direct-to-Consumer Interactive, TransUnion CIBIL, offers a quick glimpse into what a CIBIL Score is, the factors that impact it, and tips for maintaining a healthy score.
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.
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.
Lionel Messi says Argentina have felt the presence of the late, great Diego Maradona throughout their World Cup campaign, including on Friday when they beat the Netherlands on penalties to reach the semi-finals.
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.
According to reports, by last year, the company has helped its customers save 15 per cent on costs -- around 5-6 per cent on fuel and 15 per cent on fleet utilisation through digital measures.
ICICI Bank, the second-largest private sector lender and state-owned Indian Bank on Monday raised their lending rates across all tenors in anticipation of a rate hike by the RBI later this week. The rates have been increased across all tenors under the marginal cost of funds-based lending rate (MCLR) system, a move that will make EMIs expensive for those who availed loans benchmarked against the MCLR. Under the revised rates, effective August 1, ICICI Bank's one-year MCLR has increased by 15 basis points or 0.15 per cent to 7.90 per cent, while the overnight MCLR rose to 7.65 per cent, as per information posted on the bank's website.
This sort of property is better suited for an investor rather than an end user.
The key problem with the current generation is that most people don't understand how much is enough to lead a good life! exclaims Virender Kapoor.
'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'
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.
So what do we do when the purchase is beyond the repayment capacity? We are presented with 2 options: Pay the Minimum Balance, or Convert the purchase into an EMI.
Host of lenders led by State Bank of India (SBI) and Bank of India hiked lending rates after the Reserve Bank raised the benchmark interest rate to tame inflation. The hike has been effected in their benchmark rate linked to the repo rate, which increased by half a percentage point to 5.9 per cent. Even financial institutions like mortgage lender HDFC Ltd hiked the lending rate by 50 basis points effective Saturday.
Reliance-Google's new smartphone has got mixed reviews from analysts and brokerages. The phone pricing is seen unattractive for low-end customers and bundled offers are being viewed as non-disruptive. While this could slow the pace of adoption, it could set the stage for tariff hikes in the industry, feel analysts.
Rising interest rates and anticipated launch of the Tata Nano has impacted the sales of entry level cars like the Maruti 800, and anlaysts expected the entry level market dynamics to change further post the Nano launch expected in the last quarter of the fiscal.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
Sukanya Verma quizzes you to find out just how much you know about the movies.
In a letter to chairmen and managing directors of public sector banks, the finance ministry has asked state-run banks not to increase the equated monthly installment, in order to provide some relief to the borrowers since interest rates have risen sharply.
For home buyers wondering whether to opt for increased EMI or tenure, here are some clues.
SBI is the first major bank to cut its base lending rate this year.
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.
Home, auto and corporate loans are likely to become expensive from October, with bankers on Thursday saying that interest rates may be hiked next month in response to the Reserve Bank raising policy rates to tame inflation.
'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.
As many as 37 per cent of smartphones sold in India in 2022 cost Rs 15,000 or more.
Sumit Roy, an MBA, shares a simple formula to cut down expenses and save money post lockdown.
'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.'
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.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
Whatever you do, continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time. Then try to buy yourself some breathing space, says Harsh Roongta.
What should you do if you have too many loans on you and you are unable to service them? Financial planning expert Vetapalem Sridhar has the answers.
For such bonanzas, prospective home buyers have a downturn to thank. Property sales have fallen 15 to 20 per cent countrywide over the last six months, owing to rising home loan rates. This has pinched the cash flows of developers, already reeling under higher borrowing costs and a range of anti-inflationary measures that restrict their flexibility to raise funds.
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
In an online chat with readers on August 3, home loan expert Harsh Roongta provided answers to how home loan borrowers should cope with their rising equated monthly installments.
