Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Harsh Gupta's first JEE attempt was plagued by ill-health. But he did not give up.
Now you can get 'cash back' for paying the monthly instalment on your home loan.
If you default, the bad behaviour stays in your credit report for a very long time
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
'As these segments are growing at 25 per cent for the last three years, credit quality has been extremely good.'
Adarsh Kumar, the son of a farmer and a Class 12 student from rural Bihar, is on a mission to build one of India's largest free skill development movements, powered only with a laptop, free Internet and his relentless determination.
Public sector Indian Overseas Bank on Monday announced 0.50 per cent hike in benchmark lending rate to 14 per cent with effect from August 16, but spared housing loans up to Rs 30 lakh and education advances from the increase.
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
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
Interest rates on home and retail loans are expected to rise, as a fallout of Reserve Bank announcing a 0.5 per cent hike in Cash Reserve Ratio (CRR) to squeeze money supply to rid the economy of inflation. The CRR, the amount of funds banks are required to park with the apex bank, has been raised to 8 per cent to suck out Rs 18,500-crore liquidity from the system.
rediffGURU T S Khurana answers readers' personal income tax queries.
Such meetings are routine, the former state home minister added.
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Making it easier for urban cooperative banks to extend housing loans, the Reserve Bank of India has relaxed the risk provisioning norm for purchase of residential properties up to Rs 30 lakh (Rs 3 million).
The government needs to do some more to get real estate transactions going. One is to figure out a way to bring prices down to more realistic levels, without crossing into the realm of formal controls.
Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
If you are not alert about these pitfalls, it could cost you serious money.
Smart home loan is a product which combines the home loan with your current or savings account.
Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit growth moderated, consequent to banks tightening the supply of credit to the unsecured segments, a report by TransUnion CIBIL said on Monday. Data shows that balance-level delinquencies, measured in terms of 90 days or more past due, in the credit card segment stood at 1.8 per cent in Q1FY25- highest among all other credit segments.
A 24-year-old man killed his employer's wife and teenage son in Delhi's Lajpat Nagar after being publicly scolded for not repaying a loan. The accused, Mukesh Kumar, was arrested while trying to flee.
Banks will now have to check whether a housing loan is being sought for an authorised structure and seek an undertaking that construction is being done in accordance with the sanctioned building plan.
Shiv Sena-Uddhav Balasaheb Thackeray chief Uddhav Thackeray on Thursday accused the Bharatiya Janata Party of trying to scuttle the possibility of his party's alliance with the Maharashtra Navnirman Sena led by his estranged cousin Raj Thackeray ahead of civic polls.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
On the day P Chidambaram took charge as the Union finance minister, the country's largest lender, State Bank of India (SBI), brought interest rate relief to its new home and automobile loan customers.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
Essentially, if you can boost of a healthy credit score ranging in and around 700 to 900 points - chances are very good that you might end up saving thousands or even lakhs of rupees in the form of interest.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
RBI committee nudges banks for long-term fixed loan product.
Investmentyogi explains how borrowers can use the home loan refinance route to improve their financial management.
'This helps the consumers secure more favourable terms from CIs.'
The average age of person/s having own residential homes has come down from 42 in 2000-01 to 31 years in 2006-07? Do you know how this has become possible. Tax sops on home loans is the biggest catalyst to begin with.
Mikel Arteta said his Arsenal side must do something special next week to reach the Champions League final after a 1-0 defeat by Paris St Germain in the semi-final first leg at home on Tuesday.
After banks, it's the turn of housing finance companies to have a more transparent regime for pricing of loans. The National Housing Bank (NHB), the regulator for these companies, is working on a system that is similar to the base rate regime introduced for banks recently.
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