While there is easy access to money, the flip side is the high interest rate and processing fees, points out Sarbajeet K Sen.
HDFC Bank on Monday said it aims to regain the two per cent market share in the credit card market it ceded to rivals during a recent ban, within a year by aggressively tapping into its existing depositor base. The bank will also focus on forging new partnerships to sell more cards and will not deviate from its conservative approach on taking credit risks as it goes aggressive in the market, its group head for payments and consumer finance, digital banking and IT, Parag Rao, told reporters. On August 17, RBI lifted the ban on HDFC Bank which had prevented it from issuing new credit cards from December 2020.
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.
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.
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
'When the country is jobless, why should I pay through my nose to feed these people who want some perks in office?' 'Let them also join India's unemployed.' 'Let them also taste the bitter medicine of being jobless.'
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.
It's important you keep the following points in mind as you set out to have your name plate on the wall.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
Rediff reader Murali Krishnan Ambati, 47, from Bengaluru shares an interesting formula to save money.
'Initially, I was reluctant about being friends with him.' 'He was a star.' 'It took me a while to understand him, and when I did, I opened up to him and we started talking about this and that and whatnot.'
While planning for retirement, the key is to let your money be idle, says Amar Pandit.
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.
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.
Start now, and sail through your tenure like a pro!
Twenty-six immovable properties worth Rs 101.45 crore, and bank balance totalling Rs 2.28 crore in 22 accounts have been attached provisionally under the Prevention of Money Laundering Act (PMLA) by the Lucknow zonal office of the agency, they said. The Greater Noida-headquartered Bike Bot taxi service is accused of scamming about Rs 3,000-Rs 4,000 crore from 2.25 lakh investors in multiple states including Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.
A 43-year-old woman's SOS to UK Prime Minister Boris Johnson made the Indian embassy in London, the ministry of external affairs in New Delhi and the Delhi police swing into action and prevent her from killing herself.
'This is a blip in the 100-year history of cinema.'
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
Stop indulging in these before it derails your financial future
With more and more youngsters preferring to shop online, the credit appetite has surged.
'Your faith in the system, and in the fact that you are a citizen of this country and have rights, starts eroding.'
Are you a first-time home loan borrower? Here are a few tips that can help you feel at ease.
The FIR was lodged at the Sector 20 police station on Thursday after the complainant, a Noida resident, alleged that her Amazon Prime account got hacked and the problem remains unresolved despite assurance from Amazon boss Jeff Bezos, an official statement said.
One of the reasons Dutt wants to go ahead and shoot for EMI is because of his bearded look. As for the other films, he just need to trim his beard for a different look.
'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.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
In July 2013, RBI warned banks against sending unsolicited cards.
Changing your home loan provider to save on interest could actually mean you are losing money. Here's how.
It is difficult for an NRI to get a loan in India, says personal finance expert Harsh Roongta.
It makes sense to let your head do the leading when you buy a car. Especially, since it is a depreciating asset and won't give you any returns.
