In a note to customers, the country's largest lender State Bank of India said, 'Interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period'. The accrued interest will be collected by the lender in the form of additional EMIs from those borrowers who opt for the three-month moratorium.
How will the RBI announcement on loan moratorium work for those with home loans, auto loans, personal loans, consumer durables loan? Here's what experts have to say.
While planning for retirement, the key is to let your money be idle, says Amar Pandit.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
Concern is growing among healthcare experts who believe that if people do not follow the lockdown or social distancing seriously, the situation can quickly go out of control.
We have eight reasons to celebrate Monday mornings at work. Here goes...
If tweets can do so much, why do we need an independent regulator and multiple committees discuss and recommend policy?
There will be tripartite pact with member, bank/housing agency and EPFO.
Commercial aviation is safe because the crew is paid well and trained extensively for contingencies
Despite these advantages consider your options carefully and make a decision based on your abilities and your financial goals, says Abhishek Agarwal.
Follow these if you want to enjoy credit happiness and easy access to finance in the New Year by maintaining a healthy credit report and high credit score
Always be clear about the clauses and conditions laid down by your bank or housing finance company. If at all you skip this task then you may face a major problem during the entire tenure of your loan or may be even beyond that.
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
'The fact that you did not receive the rent through a bank will not take away the taxability of the rent in your hands.'
Do you aspire to purchase a house? Are you depending upon a bank or housing finance company to fund your needs? Is the same rate of interest charged by two different lenders confusing you? You are at the right place.
If one has to draw a parallel to a home loan, marriage comes pretty close. There is a high involvement of finances, emotions and a long time commitment. But don't let this analogy send your thought trail in a frenzy! Just like marriage, this can turn out to be the best decision of your life.
Facebook enabled users to mark themselves safe in Chennai since Thursday morning
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
For an industry which saw sales shrinking in 2013-14, this is hope indeed.
There are umpteen cases where travel websites and airlines advertise tickets for unbelievably low prices, without mentioning taxes and other charges.
If you have recently been laid off or are worried that your neck may be in the line, it is natural to be worried about your finances. But worrying, as you know, will not get you anywhere. Here are some tips about what you can do to keep the boat from rocking and keep your CIBIL score intact while doing so.
A few important factors to keep in mind while applying for a home loan, and strategies to manage it, whatever your age.
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A discount on the product may make a credit card loan seem cheaper than a consumer durable loan. But missing a payment in case of the former will mean exorbitant charges.
Remember to take important documents like no dues certificate.
Abhishek Agarwal takes a controversial view on how our dreams are being mortgaged by EMIs we keep paying month after month.
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
For an entrepreneur, managing his personal finances well is half the battle won.
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