The country's largest home loan player, Housing Development Finance Corporation, said on Thursday it will not hike interest rates even if the central bank signals an upward movement in the monetary policy on July 27.
Here's why it happens and how you should avoid it.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
Top four consequences for you to keep in mind before you miss a mortgage payment
The slowdown in retail asset growth and competitive pressure have forced banks to reduce rates on retail loans. After HDFC reducing floating home loan rates by 50 basis point, it is now the turn of Axis Bank, which has reduced its floating home loan rates by 50 basis points.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
SBI has sought to be a lender of choice through aggressive cuts in lending rates. But borrowers need to do a proper analysis.
Lending rates in certain segments may be increased; fixed depositors may lock into existing rates.
Take advantage of the reduced interest rates offered by banks and the tax benefits to make it a lucrative deal
Finance Minister P Chidambaram on Friday sought to allay fears that interest rates will go up in the face of the decision of ICICI Bank and HDFC to hike home loan rates by 0.50 per cent.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
You can gift your sister a Women Special Credit Card, which is not only loaded with exciting rewards for women, but they are also your sister's first step towards a better credit management.
On the evidence so far, however, these steps have not improved the scale of transactions in the real estate market. Most buyers continue to hold back in the hope of further drops in prices, while developers find that financial succour gives them the staying power to withhold price cuts. The result may, therefore, prove to be the opposite of what was intended, by delaying the price adjustment that is essential if demand and supply are to balance once again.
Banks have issues with their balance sheet profiles, say PSB executives.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
Any saving on the car loan EMI can translate into major savings.
Sanjay Gulati, a resident of suburban Oshiwara, went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
State Bank of India hikes lending rates, and other banks pick up the signal.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
To ease the process of decision making while buying a house, we have put together important factors you need to consider.
How should you, as a consumer, be prepared for a rate cut, if any? Read on to find out more.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
A 39-year-old bank executive from Mumbai went missing on September 5 evening.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
Banks and financial institutions provide 6-12 months of additional time, beyond which you need to negotiate.
Let not the smartness be confined only to your phone... Transfer it to borrowing too! Here's how
In an online chat with readers January 24, Rajeev Mahajan of Antworks answered queries on personal loans and peer to peer lending.
In an hour-long chat on rediff.com on Friday, financial expert K V S Manian replied to many Budget-related investment queries.
