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.
It makes sense to shift to a home loan provider offering a lower interest rate or make occasional prepayments by using bonuses or other windfalls, says Sanjay Kumar Singh.
Sanjay Kumar Singh speaks to experts to find out if Tata Housings new loan offer should interest you.
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.
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.
Personal accident cover should be purchased by everyone, irrespective of age, occupation or health condition, as one does not know when an accident could occur, causing hardship to the family.
Premium property developers plan easier EMIs to cast net wider.
Management professional Shajan Samuel explains his current frugality.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Check for hidden costs such as processing charges, especially for products below Rs 50,000.
The FM said, change in the mindset of the millennials not to commit any EMIs towards buying an automobile and instead taking Ola, Uber or the Metro (train) services also led to automobile sector slowdown.
To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.
So for the time being, consumers need not worry about their EMIs on home loans, auto loans etc. going up. However, as April progresses the scenario could change.
The unexpected interest rate hike by the RBI on Wednesday will have the banking system on average making a 10-15 bps gains on the yields, with private banks making larger gains as 57 per cent of their loans are linked to external benchmark rate and 40 per cent to the marginal cost of lending rates, as per a report. Stating that lenders and borrowers will face volatile times with the Reserve Bank raising the repo rate by 40 bps to 4.40 per cent and the cash reserve ratio (CRR) by 50 bps on May 4 in an off-cycle policy move, India Ratings said the market rates had already been moving higher before the move. The 364-day T-bills have moved up 120 bps and 10-year G-sec by 140 bps since May 2020, when the repo rate was cut to a record 4 per cent, which led to an expectation of a faster and sharper rise in interest rates in the system but the central bank stayed the course to support the fragile economy battered by the pandemic.
If you plan to take an auto loan, Priyadarshini Maji lists 5 points you need to consider.
A higher government borrowing will 'crowd-out' the private borrowing and push interest rates higher.
A look at few things about car loans which can save a lot of money for every car loan customer.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
It takes a longer time to avail of these loans, owing to tight due-diligence process of banks.
Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
Luxury car manufacturer, DaimlerChrysler on Thursday, announced the launch of its new retail financing scheme -- Star Extend -- in conjunction with ICICI Bank.
Lionel Messi, so often the key man for Argentina, paid tribute to Martinez.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Did you know these options existed? Their pros and cons? Here's a lowdown...
With automotive sales entering into a sluggish period, leading commercial vehicle makers are enticing buyers by doling out discounts and lucrative finance options. Tata Motors, for instance, recently run a scheme wherein commercial vehicle buyers would get three months' waiver on equated monthly installments on the vehicle loan. The response, according to the company, was very positive.
Consumers may have to fork out up to Rs 1,500 more every month for a home loan of Rs 20 lakh, as bankers say that interest rates could go up by 0.5-1 per cent after RBI's hawkish policy aimed at containing inflation.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
There is no getting away from higher equated monthly installments. The country's second largest commercial bank ICICI Bank and the largest mortgage player HDFC have decided to increase the lending rates.
RBI committee nudges banks for long-term fixed loan product.
Saurabh Chaudhary shot 16 in the gold medal contest to finish ahead of Germany's Michael Schwald (6).
The 28-year-old's body was flown back to Argentina and arrived in Buenos Aires on Friday morning before being driven the 538 km (334 miles) to Progreso, where he grew up.
The economy is struggling and companies may soon be forced to cut salaries or let people go. What are your plans for the dark days ahead?
In India, younger workers willing to work at lower salaries are easily available, so you could find yourself out of a job before 60. Therefore, save for retirement with urgency, advises Sanjay Kumar Singh.
To make the most of your vehicle, use the age-old 20/4/10 personal finance rule, suggests Bindisha Sarang.
Interest rate and tenure are not the only two factors to consider.
The country's largest lender, SBI on Tuesday said it has cut savings rate by 25 basis points, or 0.25 per cent, to 2.75 per cent on all deposits. The new rate will come into effect from April 15, 2020.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
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