Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
When interest rates rise, so does the EMI of your home loan. There are two ways in which you can deploy surplus funds to reduce the EMI. For maximum benefit, you can combine the two options.
Ashish Narsale/Rediff.com tells you what you must keep in mind.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
While planning for retirement, the key is to let your money be idle, says Amar Pandit.
Having lost her job as a stage dancer for film award shows in the pandemic, Smita Soni learnt how to make organic bath and body products. Archana Masih/Rediff.com met her as she sold her handmade items from the boot of her car with baby on her hip.
Housing sales fell 37 per cent year-on-year during the 2020 calendar year while gross office space leasing declined 35 per cent on low demand because of the coronavirus pandemic, but demand improved significantly in the last quarter to cross pre-COVID level, property consultant Knight Frank India said on Wednesday. In its 'India Real Estate - Residential and Office Update H2 2020' report released on Wednesday, the consultant reported that sales of residential properties fell 37 per cent to 154,534 units in 2020 across eight cities as compared with 245,861 units in the previous year.
HSBC India has announced a new home loan package offering to pay back part of the interest to borrowers. Yes, like the foreign bank claims, it is a first in the home loans business. But if one takes a careful look, it might not be such a big deal after all.
Since, most banks are unlikely to approve the amount, you could be sanctioned the desired loan on a higher tenure of may be 22 or 25 years. This would result in a lower instalment, which would not strain you monthly outgo.
Rashmi Bansal Returns to Rediff.com! The author of bestsellers like Stay Hungry Stay Foolish and Connect the Dots explains why MBAs should be looked upon as long-term investments.
'The assumed linear correlation between forced lower yields, higher bank borrowing from the RBI, higher lending, and higher growth involves leaps of faith, each a step on the quicksand of false beliefs,' warns Debashis Basu.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
A peek outside your airplane window as you land in any Indian metropolis is confirmation of the fact that 26 per cent of Mumbai and an astounding 60 per cent of New Delhi lives in slums or substandard housing.
'It has the potential to add half a trillion dollars to the economy over the next five years.'
It's important you keep the following points in mind as you set out to have your name plate on the wall.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
If you decide to go for a step-up loan, select fixed rate option instead of floating rate option, as it will let you control your EMIs. Besides avoid over-borrowing on this kind of a loan, to prevent financial problems later on.
With more and more youngsters preferring to shop online, the credit appetite has surged.
Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. However, the government in a notification on Saturday said the moratorium will be lifted by 18:00 hrs on March 18.
Hemangi and Prashant Nakwe's vegetarian thaali business is keeping them busy in the lockdown.
There were nearly 4,000 cabin crew with Jet when the airline was grounded; every fifth remains without a job to date. One cabin crew member with 10 years of experience has been forced to take up a teaching job; some have branched out into small businesses. Aviation jobs were scarce even before the Covid-19 pandemic arrived on Indian shores in early 2020. The situation has been exacerbated since.
Start now, and sail through your tenure like a pro!
GST impact: Higher lease payouts may hit airlines, cab aggregators.
The Centre informed the Supreme Court on Monday that a decision is likely in 2-3 days over charging of interest by banks on instalments which were deferred during the moratorium period in view of the Covid-19 pandemic.
Stop indulging in these before it derails your financial future
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
You need not worry about the long tenure as you can prepay the amount that is around 3-4 times your EMI periodically like once a quarter or when your year end bonus comes through.
Here's how you can ensure you have enough in your kitty and be in command of your finances.
Indian economy was growing faster than the global average and all other major economies: FM
Terming the 23.9 per cent fall in economic growth in the June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding, "Unfortunately, after an initial burst of activity, it seems to have retreated into a shell."
'During the pandemic, thousands of IT employees have lost their jobs.' 'Many of those who still have their jobs fear that they will lost it any moment.'
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
In July 2013, RBI warned banks against sending unsolicited cards.
ICICI Bank is offering the salaried having an account with it, credit from Rs 500,000 going up to Rs 1 crore against property owned by them
The housing stock demand may increase further
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