BUSINESS
Account aggregators: Here’s how to share your MF data with your bank or advisors
Account aggregators are a game changer as they provide a digital dashboard to your financial life, helping you avail of loans quickly and adding a financial advisor seamlessly.
BUSINESS
How to use digital Rupee to make UPI payments
Among the banks which have introduced interoperability with UPI on their eRupee app are Axis Bank, Canara Bank, HDFC Bank, Kotak Mahindra, and Yes Bank. However, an ecosystem needs to be built for the retail adoption of the digital Rupee.
BUSINESS
Eight financial changes that may impact you this September
From the end of deadlines for exchanging Rs 2,000 notes, providing nomination or opt-out for investments in MFs and demat accounts to significant changes to Axis Bank Magnus and Reserve card, there is much happening in the financial arena you need to be aware of.
BUSINESS
Why are banks cutting down on free airport lounge visits?
Complimentary visits to airport lounges, which were once a big draw to attract new customers, are now a burden. Banks and credit card companies are now cutting down on free visits.
BUSINESS
Reeling under huge credit card debt? Here’s how balance transfer helps
Credit card balance transfer method is one of the many ways to reduce your credit card debt. But make sure you have the discipline to pay off your debt in time. But if the debt is too high, a credit counsellor is a better option.
BUSINESS
Kaun Banega Crorepati: How to build a corpus of crores by the time you’re 60
Many people feel that to be financially free, you need to earn a lot but that’s not entirely true. Planning, starting early, and being disciplined can be more important
BUSINESS
Return to origin: Why NRIs return and why people with roots here are drawn to India
Moneycontrol spoke to three NRIs who returned to India and one US-born Indian-origin person who came here in the belief that the country has good growth opportunities. Read on to know what they had to say
BUSINESS
HDFC Bank eyes need-based product sales for new customers, post merger with HDFC
The bank’s private banking head says the core philosophy is all offerings on the wealth management platform have to be aligned with the customer's expectations
BUSINESS
What triggers your bank to shrink your credit card limit?
Stretching the card limit, missing payments, and inactive cards are among the few reasons your bank may decide to cut your credit card limit.
BUSINESS
3 RBI announcements that will turbocharge UPI, UPI Lite
Conversational Payments on UPI, raising UPI Lite payment limit and offline transactions through UP Lite have the potential to usher in the next era of the digital payments in India
BUSINESS
FD rates for Senior Citizens: Banks that offer up to 9.1% interest on 3-year deposits
Senior citizens should invest a part of their savings in fixed deposits which offer liquidity and ensure interest income periodically.
BUSINESS
Festive offers from Amazon and Flipkart: How to make the most of shopping credit cards
Learning to choose the right shopping credit card is a skill in itself. Weighing the fees and charges against the rewards and benefits you expect from the cards needs some thought. Experts tell you what to look for and prioritise
BUSINESS
Borrowing from a digital lending app? Spot the red flags first
Do your own due diligence before choosing one. The RBI guidelines for such apps ensure enhanced transparency between lenders and borrowers and discourage unfair lending practices.
BUSINESS
Six changes in the financial landscape you need to keep an eye on this August
August may be the last month to lock in your investments in special FD schemes offering high interest rates. You'd also need to verify your income tax returns, spend smartly as the festival season kicks off, and track the RBI’s monetary policy announcement for any repo rate hike this August.
BUSINESS
Banks are increasing MCLR rates: Should you switch to repo-linked home loans and save on EMIs?
If your home loan is linked to MCLR, switching to a repo-linked home loan rate can reduce your interest costs. However, do the math first and calculate the savings instead of relying on vague estimates.
BUSINESS
Why Axis Bank stopped redemption of reward points, selectively?
Banks and credit card companies frown when users earn faster reward points through dubious means such as swiping personal cards for business purposes. Axis Bank did the same. Here’s what happened
BUSINESS
How to avoid crucial mistakes when writing a Will
Some of the common mistakes while writing the Will include writing it in vague language which is difficult for beneficiaries to understand, not signing the Will in the presence of witnesses, appointing a beneficiary as a witness and not registering the Will to make it authentic.
BUSINESS
Small loans have seen big growth, TransUnion CIBIL report reveals
Home loans in the affordable housing segment, below Rs 25 lakh, have slumped. In the quarter ended June 2023, credit card payment defaults increased. The approval rate for loans to new-to-credit consumers, whom lenders typically approach with caution, was lower.
BUSINESS
Club Vistara's 3rd co-branded card IDFC FIRST Credit Card is here: A Moneycontrol review
The IDFC First Vistara Card gets you more benefits than the airline’s other two co-branded cards, but you also need to hit higher spending milestones and pay higher joining/annual fees
BUSINESS
Axis Bank reduces benefits on Flipkart Axis Bank Credit Card
The revised features of Flipkart Axis Bank Credit Card nudges the cardholder to spend more to earn the annual fee waiver. It has also removed a host of spends that were earlier for a cashback, thereby making the card less attractive than before
BUSINESS
Made multiple wills? Don’t make the mistake that Aretha Franklin did
Months after the soul singer passed away in 2018, two wills were found in her house with different instructions on how her assets and money should be given away to her children. As a result, her children are now in court. This has lessons for us.
BUSINESS
Millennials comprise largest segment of active users on P2P platforms
Analysis by peer-to-peer lending platform LenDenClub shows that 59 percent of lenders and a whopping 87 percent of borrowers are under 40 years of age.
BUSINESS
Banks that offer up to 8% interest on savings accounts
Smaller private banks and small finance banks are offering higher interest rates compared to leading private banks
BUSINESS
Visa says co-branding offers opportunities for new categories to emerge
Before the pandemic, 60 percent of credit card spending was face-to-face, while 40 percent was through e-commerce. However, data from Visa now indicates this pattern has almost reversed.
