Loan protection insurance, or loan payment protection insurance, is a form of payment protection insurance. This type of insurance can help you protect your monthly loan payments if you become unemployed or suffer an accident or sickness.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
The revised ceiling will be within the Rs 10 lakh mark.
Do you want to know if your investment in a house, mutual fund, insurance or real estate taxable? How is tax calculated on your ESOPs?
Bajaj Finserv - the holding company of Bajaj group's financial services business - has laid out plans for the next five years. During this period, it is eyeing 18-22 per cent compound annual growth rate (CAGR) in net profit at Rs 21,000-24,000 crore on a consolidated basis.
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
Younger customers should opt for increasing cover as their financial commitments are likely to rise in the future.
Currently, deposits of up to Rs 5 lakh are covered under the deposit-insurance scheme.
'Today, we are at a stage where we have launched a voice-to-voice model that supports 14 Indian languages.'
The most common mistake is investing without assessing suitability and long-term implications.
Make sure the rider adds value rather than just adding to cost.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
To handle the sudden loss of cashless facility, patients should maintain an emergency fund or a short-term credit line to manage all or part of hospitalisation costs.
Coforge's planned $2.35 billion all-stock acquisition of US-based Encora has divided the Street, with a few brokerages terming it a "strategically positive" but execution-heavy bet while others raising valuation concerns.
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
'Some buyers get carried away by festival offers and purchase higher variants or larger vehicles than they truly need, which impacts running cost and long-term affordability.'
Your EPF isn't just a retirement pot. It's a financial safety net you can dip into for life's biggest needs. Here's how these one-time advances work and when to use them wisely.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Indrani Mukerjea, in pure white, sporting dancing pearl jhumkas, bobbed about the accused box, occasionally floating up front to whisper urgent suggestions to her lawyer Ranjeet Sangle as retired cop and prosecution witness Dinesh Kadam gave her a long look. Vaihayasi Pande Daniel returns to cover the Sheena Bora murder trial after 18 months.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates "very stressful" and urged banks to make them affordable. Speaking at an event organised by State Bank of India, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the "Viksit Bharat" aspiration.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
For commercial banks to float subsidiaries, approval from the Reserve Bank of India (RBI) may not remain mandatory, according to highly placed sources.
To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.
'The danger is that when the music stops, the fall will be sudden, faster, and deeper than anyone expects,' warns Debashis Basu.
'They take care of the problem: How can I ensure my child's education and other goals are not compromised, even if I am not around?'
Chartered accountant Nitin Kaushik's message to India's young workforce is clear: spend smart, save smarter and let money serve your goals.
'There is a debit execution failure which is because there is not enough money in the user's bank account.'
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
