If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
Postpone the purchase of big-ticket consumer durable items, recreational spending on holidays, and other such expenses unless your financial position is very secure, advises Sarbajeet K Sen.
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.
While the likely intensity of the third wave is still a matter of debate, wisdom lies in being financially prepared for it, advises Bindisha Sarang.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
The popular National Electronic Funds Transfer (NEFT) system for online transfer of funds will remain unavailable for 14 hours from Saturday mid-night till Sunday afternoon due technical upgrade, the Reserve Bank of India said on Monday. National Electronic Funds Transfer (NEFT) is a nation-wide centralised payment system owned and operated by the Reserve Bank of India (RBI). It is available round the clock availability on all days of the year.
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
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.
As Jahangirpuri's C-Block remains heavily barricaded and under tight security following last week's violence, several residents Friday said they are unable to open their shops or go to work due to restriction on movement which is affecting their livelihoods.
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.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
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.
With India rolling out 5G services, can telcos get the sizeable 350-400 million 2G customers to upgrade to 4G, or even better -- but very improbably -- straight to 5G?
Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points. Continuous foreign fund outflows and surging crude oil prices also weighed on markets. The 30-share BSE benchmark dropped 214.85 points or 0.39 per cent to settle at 54,892.49.
A summary of Sunday's action in the Premier League.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
Premium property developers plan easier EMIs to cast net wider.
Sanjay Kumar Singh speaks to experts to find out if Tata Housings new loan offer should interest you.
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.
Check for hidden costs such as processing charges, especially for products below Rs 50,000.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
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.
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.
A higher government borrowing will 'crowd-out' the private borrowing and push interest rates higher.
Management professional Shajan Samuel explains his current frugality.
A look at few things about car loans which can save a lot of money for every car loan customer.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Luxury car manufacturer, DaimlerChrysler on Thursday, announced the launch of its new retail financing scheme -- Star Extend -- in conjunction with ICICI Bank.
If you plan to take an auto loan, Priyadarshini Maji lists 5 points you need to consider.
It takes a longer time to avail of these loans, owing to tight due-diligence process of banks.
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.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
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.
Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.
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.
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.
