BUSINESS
CARE Ratings report on uptick in retail loans: What you must do to avoid a debt trap
Even though loans are cheap and easily available, your EMIs should not exceed 40 percent of your take-home pay
BUSINESS
Axis Bank waives penalty on premature withdrawal from FDs: Here are the details
Bank of India has already waived such charges on early withdrawals and Kotak Mahindra Bank do not charge premature withdrawal for all FDs with original tenor up to 180 days
BUSINESS
How reverse mortgage helps senior citizens increase their monthly income
The maximum amount most banks offer is Rs 1 crore, even if your property is worth much more
BUSINESS
We want to position our credit cards as the most rewarding in India for the consumers: Yes Bank
At present, spends using credit cards are almost back to February 2020 levels
BUSINESS
Digital lenders association tightens code of conduct for loan recoveries: What borrowers must be aware of
The digital lenders’ association claims it is working closely with the payment partners to identify unethical recovery activities
BUSINESS
How many credit cards should you have?
You can own more than one credit card, depending on your needs. But make sure you pay your dues on time
BUSINESS
Do not just go by high interest while shifting banks; look at new bank’s services: RBL Bank
The bank you are choosing should be able to offer the entire bouquet of financial products you may require over a period
BUSINESS
RBI’s warning to coercive digital lending apps: What borrowers must be aware of
While applying for a loan, you must verify the background of the lending company
BUSINESS
CRIF report on the rise in personal loan borrowings: How to avoid a debt trap
Personal loans are expensive. If you fail to pay even a single EMI on time, your credit score gets impacted
BUSINESS
SBI report on rising online credit card usage: How to avoid a debt trap
A recent report from State Bank of India suggests a massive rise in online credit card usage. If used carelessly, credit cards can wreck your finances
BUSINESS
Bank mergers: Here are the procedural changes customers must be aware of
With a host of bank mergers, customers will have to be prepared for new processes and systems
BUSINESS
Account aggregators go live: Here’s how customers can share financial data with banks
The account aggregator does not store or save any data transmitted between financial information providers and users
BUSINESS
Festive spending: Should you opt for the no-cost EMI schemes offered by major banks?
This festive season, banks are partnering with Flipkart, Amazon and offline retail stores with lucrative schemes on cards for customers. But are these really no-cost schemes?
BUSINESS
Govt announces compound interest waiver on moratorium loans — here's how it will affect borrowers
Although the government has finally announced its scheme on waiving interest on interest on moratorium loans, the relief to small borrowers is minimal. You will still need to pay your principal and original interest.
BUSINESS
IMPS limit raised: How to choose the best mode to transfer money between NEFT, IMPS & RTGS
Based on the speed of transfer, value of the transaction and other factors, you should decide the mode of transfer
BUSINESS
Use a Will to gift your property, or you may end up being homeless
To save stamp duty and time, some transfer properties through gift deeds. But parents must ensure that gift deeds are water-tight
BUSINESS
How Google Pay allows you to make purchases without your credit card
Google Pay allows you to make payments through secure digital tokens
BUSINESS
We advise against loan restructuring if customers can afford to pay: Federal Bank
Loan restructuring could impact their interest costs and credit score
BUSINESS
Mis-selling: Is your bank asking you to pledge gold to save on locker rent?
Customers fall into this debt trap by giving up the locker facility and taking a credit line from the bank
BUSINESS
The pros and cons of paying credit card bills through third-party mobile apps
Stay alert to breach of financial data and when you redeem cashback offers while shopping from partnering merchants
BUSINESS
All about the loan restructuring schemes of SBI and HDFC Bank
You will have to bear an increased debt burden for up to two years if you opt for restructuring
BUSINESS
Gold loans: How to choose between the regular EMI option and overdraft facility
Taking an overdraft facility means that you do not get a lump-sum amount at the start
BUSINESS
Took a gold loan? Here are 5 ways to repay
Making principal repayments during the loan tenure would reduce interest costs
BUSINESS
SBI Card dues restructuring plan: Should you apply for it?
The plan involves converting the existing credit card dues into a term loan
