Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
State Bank of India (SBI), the country's largest lender, has decided to increase its base rate or minimum lending rate by 20 basis points (bps) from Thursday, to 10 per cent from the present 9.8 per cent.
Making an informed choice will help you save money and some hassles too.
Customers need to weigh whether they will be better off selling their mutual fund holdings or taking a loan against it.
Stock market investors and potential home buyers may not remember the years 1998 and 2008 too fondly.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Follow these tips to get ready to celebrate with sweets and kites with your friends and family in your new house next Pongal.
The lender has said it is betting on increased loan demand in smaller cities to boost growth in a slowing economy.
The People's Bank of China has picked up a 0.006 per cent stake in ICICI Bank by investing Rs 15 crore in the private sector lender's Rs 15,000 crore qualified institutional placement (QIP) exercise which concluded last week.
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
It has been a decade since Shyam Srinivasan took over as managing director and chief executive officer at Federal Bank. He wants to ramp up the bank's unsecured lending going ahead even as it homes into the space vacated by competition. Reappointed for a fresh three-year term as the bank's helmsman, he spoke to Hamsini Karthik on the plot ahead.
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
SBI is the first major state-run bank to hike lending rates after short-term rates rose as a result of the Reserve Bank of India's liquidity tightening moves announced in July.
By consolidating borrowings, the total EMI burden and interest cost can be reduced.
Leading financial institutions ICICI Bank and HDFC have raised their benchmark lending rates by 0.25 per cent, making home and auto loans costlier.
PMAY-Gramin, which was launched in November 2016, aims to construct 10 million homes by March 31, 2019, with private sector and state government participation
In a rising interest rate scenario, borrowers generally tend to hold back on procuring loans.
While the fall in rates is certainly a good signal, is it a great idea to take a loan to purchase a home or car? Most experts felt that this may not be the right time to do so.
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
A fall in home loan rates since last September as well as a few provisions in the Union Budget 2016-17 are working in favour of the home buyers, says Rajiv Raj
'This is for the first time home loan rates have dropped below 7 per cent,' notes Tamal Bandyopadhyay.
We asked readers to send their useful ideas and advice on how one can get out of credit card debt. Here are the first four useful suggestions and tips.
HDFC charges 9.85 per cent for women and 9.9 per cent for others.
Lenders taking up incubator-style roles with small investments in start-ups
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
Be wary of co-operative banks which have historically been most vulnerable.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
After the NHB asked housing finance cos to desist from offering interest subvention schemes, disbursement of loans are likely to get delayed, points out Tinesh Bhasin.
Despite a complex interface, online banking is fast gaining acceptance.
Apart from streamlining loan processing, most public sector banks charge lower interest rate, an aspect which seems to be game changer.
If you default, it will affect your credit score and your career.
In fact, some private sector lenders have decided to skip advertising these altogether.
