BUSINESS
From mutual fund info validation to opening e-insurance accounts, here are seven key financial changes this April
Also brace for rise in debit card fees and scaled down credit card reward points next month.
BUSINESS
HDFC Bank raises new home loan rates even as repo rate stays steady. Here’s why
This increase however, is applicable only to new loans sanctioned and not existing loans, which means that older borrowers will not be impacted by these hikes.
BUSINESS
The Money Calendar 2024-25: Keep up with investments, taxes, lenders and more
Come April 1, we hope you have a happy new financial year! Be sure to download our calendar and keep track of your portfolio, your tax filing dates, your life and health insurance policies, and Valentine's Day, among other things. The Money Calendar 2024-25 helps you stay abreast of the most important dates in the upcoming financial year.
BUSINESS
Axis Bank credit card fiasco: Customers hit by fraudulent international transactions must act quickly to protect themselves
To start with, you may want to disable your international transactions immediately and ignore messages/email alerts to enable international online usage until the issue is sorted out. You can file complaints and claim refunds as per RBI rules, says Axis Bank.
TRAVEL
Summer Holiday Packages: 6 tips to secure the hottest holiday deals
For your summer vacation planning only focussing on the cheapest package will not make for a very happy holiday. So research thoroughly, and choose wisely.
BUSINESS
AU Small Finance, Bank of Baroda, and other banks that offer up to 8% interest on green deposits
Banks such as AU Small Finance, Bank of Baroda, Indian Overseas Bank, SBI, among others are offering green fixed deposits with interest rates ranging from 5.7-8 percent, depending on the tenures chosen.
BUSINESS
Rewards Restrictions: What does it mean for Axis Bank cardholders?
The Bank has also chopped off benefits on travel credit cards, which includes the Atlas credit card, and co-branded credit cards such as Vistara Infinite and Vistara Platinum. The changes will be effective April 20, 2024.
BUSINESS
Recurring Deposits: Bank of Baroda, Axis Bank offer interest rates of 7.1-7.25% on three-year deposits
Interest rates offered by top ten public sector banks and private banks on three-year recurring deposits range from 6.25-7.25 percent per annum
BUSINESS
Gold loans: Banks that offer the lowest interest rates
Gold rush: HDFC Bank, Indian Bank offer the cheapest gold loans at interest rates of 8.5-8.65 percent per annum. A gold loan is given when customers pledge their gold with the bank.
BUSINESS
Using Axis Atlas credit cards for ‘business’ spends lands cardholders in a soup
Axis' email to its credit card customers seeks invoices to verify that their trips were indeed intended for leisure. Usage for commercial or business purposes is not permitted, as it constitutes unfair accumulation of reward points.
BUSINESS
RBI Ombudsman received more complaints against CIBIL in FY23: Report
The RBI reported a total of 1,039 complaints against the credit information companies.
BUSINESS
RBI Ombudsman received more complaints against private banks per branch in FY23: Report
RBL Bank had highest complaints per branch amongst private banks at 6.52. Among public sector banks, RBI received 1.61 complaints per branch against the SBI, which is highest amongst public sector banks.
BUSINESS
Should you apply for the PNB-EaseMyTrip co-branded credit card?
The card is overpriced compared to the Standard Chartered-EaseMyTrip credit card. Consider this only if it's in tune with your travel and annual card spend patterns.
BUSINESS
Are you a landlord or tenant? Here is an ideal way to make a solid rental agreement
A rental agreement should spell out rent payment dates, frequency, penalty if rent is late, and a clause that specifies rent increase.
BUSINESS
Women’s Day: Women borrowers witnessing highest growth in personal loan segment, says CRIF Report
The number of young women borrowers under the age of 35 years has continued to increase over the last three calendar years (from CY 2021 to CY 2023). Further, new-to-credit women borrowers are also contributing to the growth and showing responsible borrowing behaviour.
BUSINESS
Women’s Day: Women borrowers lead growth in gold loan segment as of Dec 2023, says report
Unlike other credit products that have stringent eligibility criteria, gold loan has a simpler application and disbursal process.
BUSINESS
NRO deposit rates: These banks offer up to 7.25% interest on 2-year deposits
Bank of India, ICICI Bank, and Axis Bank among others are some of the leading banks offering the best interest rates on NRO deposits with two-year tenure.
BUSINESS
YES Bank imposes minimum card usage to unlock domestic airport lounge access
Soon, to unlock complimentary domestic lounge access, YES Bank cardholders need to spend Rs 10,000 or more in a calendar quarter.
BUSINESS
Women’s Day 2024: 86% of working women desire to learn financial skills, finds survey
The key reasons for women not making investment decisions themselves are lack of confidence and limited understanding of financial instruments.
BUSINESS
Linking RuPay credit cards to UPI: What you need to know
In June 2022, the RBI allowed RuPay credit cards to be linked to UPI. No other credit card has this facility. According to banking experts, allowing other networks to integrate with UPI will broaden the scope of digital payments, fostering competition and innovation.
BUSINESS
Lifestyle and travel goals are top categories to save for spendvesting enthusiasts: Multipl report
Spendvesting promotes recurring investments in assets such as mutual funds and digital gold and caters to diverse lifestyle needs like travel, gadgets, home decor, vehicle, jewellery, insurance, education, etc.
BUSINESS
India doesn’t have enough bank lockers to cater to the rising demand: Aurm Report
Aurm, a provider of safe and accessible lockers, estimated that the gap in demand and supply is about 54 million lockers in top Indian cities, highlighting the need for secure and accessible lockers in the country.
BUSINESS
Restrictions on Paytm Bank to paying advance taxes, here's your guide to five key financial changes this March
From curbs on Paytm Payments Bank accounts to planning of investments to save taxes to paying advance taxes, a lot is happening this month. Here’s what to watch for.
BUSINESS
Home loan: What’s the difference between sanctioned loan and disbursed amounts?
Borrowers need not have to avail the entire sanctioned loan amount. If they opt for a lesser amount, that will be the disbursed amount. Which of the two amounts banks will use for calculating interest rate is what matters.
