You may forget about your mistakes but CIBIL keeps an eye and maintains a record of each and every transaction right from your first credit card!
As temperatures rise, travellers are increasingly gravitating towards cooler climates, driving demand for hill stations such as Mussoorie, Munnar, Varkala, Ooty and Kodaikanal.
Use credit cards with discretion and try to generate a net monthly surplus to avoid falling into a debt trap
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
Here are some simple tips that can save you a great deal of money and reduce financial stress.
Lender had 5.12 mn cards - almost a third of the total number of credit cards in the industry - at the end of November, 2013.
If a consumer spends Rs 50,000 on a credit card and only pays off the minimum amount of 5 per cent due every month, then at an interest rate of 34 per cent per annum it will take him about 11 years to completely pay off the amount with the total interest payable at Rs 57,000.
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
The Association of Payment Clearing Services said that the 25 per cent initial rise in fraudulent use of British credit and debit cards in three years was mainly due to stolen and counterfeit cards used abroad. Card fraud overseas rose by 77 per cent last year to 208 million, 39 per cent of the total. There have been several instances of British consumers reporting money withdrawn from their accounts in India, The Philippines, Australia and Canada.
Converting credit card outstandings to a personal loan reduces the interest burden. But one needs to select the right tenure.
Today pay-later services are available for practically anything under the sun. And these include small purchases like clothes, gadgets, movie tickets, and even food.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
If you are panic-stricken because of your inability to repay even your minimum amount due on your credit card, help is at hand.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
We asked you, dear readers to share your best tips on saving money. Navin K Singh shared these tips.
Sharing your credit card with the spouse has it perks. Read on to find out more!
Instant approval, no due diligence, conversion to easy-to-pay EMIs, nominal processing fees are some of the reasons why credit card loans are better
Some of the major spending categories that saw a drop included online food ordering and dining out, with more individuals purchasing groceries and preparing meals at home.
The Supreme Court stayed the National Consumer Commission's order, which had capped the interest rate chargeable on credit card holders at 30 per cent. The verdict will allow banks to levy any interest rate they consider applicable to card holders. In their appeal, the banks said they were following the guidelines of the RBI, which was the only authority to regulate the fixing of the interest. The commission had no jurisdiction to pass an order directly to the banks.
Have you reached a stage where you cannot even pay minimum amount due? You need some smart help to get that debt burden off you.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Banks are witnessing a surge in hiring for sales staff in secured segments such as home, vehicle and gold loans as compared to the recovery category, driven by a boost in business growth, and a host of regulatory measures aimed at improving ease of doing business, according to industry experts.
'This helps the consumers secure more favourable terms from CIs.'
Next time you get your credit card bill, look at the amount due carefully and repay the entire amount.
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
Many placement agencies are fly-by-night operators in New Delhi.
Air India's passenger service system provider SITA faced a sophisticated cyberattack in February this year leading to leak of personal data of 4.5 million passengers -- which included passengers of the national carrier -- from across the world, an official statement said on Friday. Personal data -- including name, date of birth, contact information, passport information, ticket information and credit card data -- which was registered between August 11, 2011, and February 3, 2021, has been leaked of a certain number of Air India's passengers, the statement issued by the airline said. "While we and our data processor continue to take remedial actions...We would also encourage passengers to change passwords wherever applicable to ensure safety of their personal data," it said.
Before signing up for a BNPL plan, read the fine print carefully and watch for red flags like unclear repayment terms, vague information on interest or late fees, and marketing that downplays the cost of default.
Because from June 1, 2015, you will have to fork out 14 per cent service tax instead of 12.36 per cent
'Save the entire chain of e-mail exchanges so that you have documented evidence to show you informed the bank about the issue.'
The government on Wednesday approved two schemes worth Rs 45,000 crore to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
USA captain Monank Patel reflects on sharing the Wankhede with Jasprit Bumrah, his move to the US, cricket's rise in America and leading a diverse team at the T20 World Cup.
'There is a debit execution failure which is because there is not enough money in the user's bank account.'
As deposit growth lags credit expansion, Indian banks face shrinking low-cost Casa inflows, rising funding costs, and structural shifts driven by UPI, e-Kuber, and digital savings trends, points out Tamal Bandyopadhyay.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Private sector banks that announced their earnings for the October-December quarter (Q3) of 2024-25 (FY25) reported a rise in credit costs due to higher provisions, mainly for unsecured retail loans.
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