Experts say the move will make matters worse for buyers, reports Karan Choudhury.
A silly plot, long and winding narrative and mediocre acting makes EMI a torture to sit through. The only silver lining in this debale is Sanjay Dutt.
Rising inflation and stagnant wages are forcing a number of salaried professionals to venture into the bike taxi service as part-time riders.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Wouldn't it be better to reach 45 with a backup engine of passive income that helps you glide through these years instead of grinding, asks Ramalingam Kalirajan
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
'I don't know how long cinema will survive.'
While most borrowers calculate the gain they stand to make from switching to a lower interest rate, they often fail to take into account all the costs.
Borrowers should consider switching from an MCLR-linked to a repo rate-linked loan.
Tough times don't last, but tough people -- and smart financial strategies - do, says Ramalingam Kalirajan
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Don't opt for the moratorium unless critical, advises Charlie Lee, founder and CEO, True Balance.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
A fitter and faster Jyothi Yarraji admitted she was under stress to defend her 100m hurdles title, but focusing on timing rather than the medal helped her stay calm while clinching her second successive gold at the Asian Athletics Championships in Gumi, South Korea, on Thursday.
Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation. The move would increase EMIs for housing loans by the firm. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement.
'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15 years in India are prepaid, within 7-8 years.' 'This doesn't happen anywhere in the world.'
Gold rush: Yarraji, Sable, women's 4x400m relay finish on top to extend India's Asian C'ship dominance
Under the scheme, customers can now make zero down payment, avail a six-month EMI holiday (only interest needs to be serviced monthly) and access up to 100 per cent on-road funding for a loan tenure of five years, Tata Motors said in a statement.
The country's largest lender State Bank of India has raised its marginal cost of funds based lending rate by 10 basis points or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. This is the second hike in a month raising the cost by 0.2 per cent with the two consecutive increases. The revision follows an off-cycle rate increase by the Reserve Bank earlier this month. The central bank hiked the repo rate -- at which it lends short term money to banks -- by 0.40 per cent to 4.40 per cent.
Manchester City's Matheus Nunes scored deep in injury time to salvage a crucial 2-1 Premier League victory over Aston Villa on Tuesday in their breathless chase for a Champions League berth next season.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
Aston Villa striker Marcus Rashford scored twice in a 3-0 defeat of second-tier Preston North End in their FA Cup quarter-final at Deepdale on Sunday to earn a Wembley semi-final against fellow Premier League team Crystal Palace.
After effecting two back-to-back 25 basis points rate cuts, Reserve Bank Governor Sanjay Malhotra on Wednesday hinted at another reduction in key policy rate by changing the central bank's monetary stance to 'accomodative' from 'neutral', which may further lower EMIs for consumers.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
While festive offers can reduce costs, borrowers should also consider the lender's transparency and service quality. Customers need to be mindful of their repayment capacity.
You will lose out on discounts and have to pay a higher premium.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
The biggest risk in under-construction projects is delay and non-completion.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
'We deposited money just yesterday, but they did not say anything...'
Goenka approached Rahul after the match to congratulate, only to receive what looked like a cold, disinterested handshake. No words, no eye contact. Just quiet closure and a telling payback.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
From attractive EMIs to assured buyback guarantees, luxury carmakers have lined up a slew of offers to woo customers this festival season to address dwindling sales amid rising inventories.
A round-up of Saturday's action in the Premier League.
As much as 20 per cent of the gross merchandise value (GMV) of sales made on e-commerce platforms is being financed through the no-cost EMI route, up from 4-5 pc two years ago.
