BUSINESS
Independence Day Special | Seven steps for Financial Independence, Retire Early
FIRE is a relatively new concept in India and somewhat difficult to pull off. Some of the ways to achieve this goal are starting to invest early, considering various factors to build the retirement corpus and investing in equities, among other things.
BUSINESS
Applying for a personal loan from a fintech lender? Here are five parameters to consider
Borrowers are applying for small-ticket personal loans to meet immediate financial needs, such as medical expenses, debt consolidation, home renovations, holidays, education costs, and the like. Before applying for a loan, it is important to evaluate the key fact statement and other parameters.
BUSINESS
Top 3-year corporate FDs that offer interest rates of up to 8.38%
Depositors should carefully study the credit ratings assigned by rating agencies while investing in corporate fixed deposits. Low-rated deposits carry the risk of default.
BUSINESS
Festive shopping: 7 tips to make the best of 'handsome' offers
Freedom sale, Ganesh Chaturthi and upcoming festivities bring with them ‘irresistible’ shopping offers. Shop, but don’t overdo it. Compare the prices online and offline, use cards for instant discounts. Remember, not to fall into a debt trap with EMI schemes
BUSINESS
Keeping Score: Your credit record will be updated every fortnight, if not earlier
The RBI diktat aligns with international standards of credit reporting, and may potentially lead to real-time data updates, benefitting both borrowers and lenders
BUSINESS
RBI Policy: RBI proposes same-day cheque clearance. Here's what it means for customers
The time taken to clear cheques will go down from T+2 days to a few hours, once the continuous clearing process comes into force
BUSINESS
Computer-ji, you are asking too many questions: 1 of 4 applicants abandon digital bank a/c applications, shows survey
Indian consumers are embracing digital banking, but too many questions is a dampener, says a survey. People are most worried about fraud when they are tricked into sending money to a fraudster
BUSINESS
RBI Policy: No impact on home loan EMIs as RBI keeps repo rate steady
Several economists expect the Monetary Policy Committee to change its stance to Neutral in October, and start the rate cutting cycle from December. Existing borrowers will have to contend with higher interest rates for a few more months.
BUSINESS
DBS Bank offers elderly 7% interest rate on savings a/c on its 30th anniversary in India
‘DBS Golden Circle’, a priority banking programme, woos resident Indian citizens aged 60 years and above with higher interest rate on savings accounts and deposits, discount on locker rentals and lifetime free debit cards.
BUSINESS
Personal loans: Banks offering the lowest interest rates on a Rs 5-lakh loan during the festive season
Bank of Maharashtra, HDFC Bank and ICICI Bank offer interest rates between 10 and 10.8 percent on a personal loan of Rs 5 lakh for a tenure of 5 years.
BUSINESS
Not prepared for job loss, debt repayment is a big worry: Survey
Nearly 77 percent of the respondents aren’t prepared for medical emergencies. They either depend solely on employer-provided health insurance, or are simply under-prepared. The lack of contingency planning is a big hole in people’s financial plans.
BUSINESS
FDs for senior citizens: Equitas SFB, Ujjivan SFB offer up to 9% on 15-month tenor FDs
Small finance banks top the list of entities that offer the highest interest rates on short-term fixed deposits.
BUSINESS
Travelling abroad for studies? BookMyForex rolls out zero fee remittance, bundled deals
The BookMyForex Student Offer is a limited-time promotion, valid up to September 30, 2024. It provides zero fee remittances, cashback offer, discount on international flight tickets and hotel bookings from MakeMyTrip.
BUSINESS
Lenders are cautious on higher NPA levels, but no alarm bells so far: Amit Diwan
India Mortgage Guarantee Corporation's chief distribution officer also said that customers shopping around for and transferring home loans to new lenders offering lower rates in a high-interest regime is a natural phenomenon.
BUSINESS
Key financial changes in August: Tax deadline, faster cashless insurance approvals and new credit card rules
Verifying income tax returns, non-life insurance companies granting cashless authorisation within one hour, revised terms on HDFC Bank credit card and more. August brings crucial changes that will impact on your personal finances.
BUSINESS
Card Alert: Banks are reducing the minimum amount due; here’s why that’s not such a great deal
While it enables the customer to pay more regularly rather than default, it also means a higher outstanding on which interest is levied. So, reducing the minimum amount due ultimately benefits the bank.
BUSINESS
No hike in tax deduction under Sections 80TTA and 80TTB disappoints individuals, HUF and senior citizens
Finance Minister Nirmala Sitharaman kept tax deduction unchanged under Sections 80TTA and 80TTB in Union Budget 2024 announcement.
BUSINESS
Financial support announced for students to pursue higher education in Union Budget 2024
E-vouchers for loans up to Rs 10 lakh for higher education announced in Union Budget 2024
BUSINESS
Union Budget 2024: Six demands that top home loan borrowers’ wish list
Budget 2024 Expectations: Home loan borrowers are hoping that the Union Budget will increase the tax concession on home loan interest paid. Other demands include a separate tax deduction for home loan principal repayment, reinstatement of credit-linked subsidy scheme, etc.
BUSINESS
Gold loans: These banks offer as little as 8.8% interest
Loan against gold: Bank of India, Indian Bank and Bank of Baroda offer interest rates between 8.8 and 9.15 percent on a gold loan of Rs 5 lakh for a tenure of one year.
BUSINESS
SBI, Bank of Baroda roll out special, short-term FD schemes: Should you invest?
These limited period fixed deposit schemes with shorter terms are ideal for conservative or risk-averse investors looking for assured returns within a relatively short period. If the interest rate is above 7 percent, risk-averse investors can consider the schemes.
BUSINESS
Should you apply for the rebranded HSBC cashback credit card?
HSBC Live+ Credit Card offers luxury benefits on travel, lifestyle spending and cashback. The cardholders will get 15% discount at restaurants across Asia. The card also offers 10% cashback on spending in three categories: dining, food delivery, and groceries.
BUSINESS
Tax Saving FDs: These banks offer interest rates of up to 7% per annum
Tax Saving Fixed Deposit: HDFC Bank, ICICI Bank and State Bank of India offer interest rates between 7 and 6.5 percent on tax-saving FDs.
BUSINESS
Loan Against Mutual Funds: Borrowers not eligible for higher loan amount when market rises during tenure - Mirae Asset Financial Services CEO
Loan Against Securities: In an exclusive interview with Moneycontrol, Krishna Kanhaiya, Director & CEO of Mirae Asset Financial Services discusses growth of loans against mutual funds and shares and how it works.
