BUSINESS
Wedding loans: Are Gen Zs, millennials risking their financial future in pursuit of social media ‘likes’?
A growing number of younger couples in India are choosing to self-fund their weddings, but nearly 26 percent are using personal loans to cover costs. Destination weddings and personalised experiences are key drivers of this trend. However, financial advisors warn of high interest rates, potential penalties, and impact on credit scores.
BUSINESS
New rules for NSS, PPF, credit cards, insurance, share buyback tax structure and other financial changes that you must watch out for in October
Several new financial rules will come into force from October 1. They include tax dispute resolution scheme, share buyback tax, HDFC Bank’s restrictions on its high-end Infinia credit card reward pointss, small saving account rules, and revised norms for existing insurance products, among others.
BUSINESS
Black Friday Sale: 5 shopping traps to avoid
Black Friday Shopping Offers: E-commerce websites often use clever tactics to create a false sense of urgency. Buyers should spend wisely after doing their own calculations on cashback offers while shopping, experts say.
BUSINESS
How to plan your wedding on a budget: 5 handy tips for smart spending
Budget Wedding Planning: Usually, venue and catering play spoilers to the wedding budget. Money is also needed for honeymoon, perhaps a new home and for essential as the couple start a new life. All these expenses need to be budgeted for, say wedding planners.
BUSINESS
HSBC India launches facility to pay for foreign education expenses
The bank’s customers can directly transfer payments to over 600 universities across five countries / territories, such as the US, UK, Canada, Hong Kong, and Australia. HSBC doesn’t charge anything for the service.
BUSINESS
BOBCARD’s EMI option on RuPay-UPI cards: Should you opt for this facility for festive spends?
EMI on UPI Payment: Ahead of the festival season, BoBCARD has rolled out a facility that allows users to apply for EMI directly through any UPI app on their linked RuPay credit card. However, be mindful of the interest charges when opting for this facility
BUSINESS
How much cash should you keep in your savings bank account?
Too much idle cash in your savings bank account limits your wealth creation. Use auto-sweep feature to park in fixed deposits. Else liquid and overnight mutual fund schemes offer better returns and just as much liquidity.
BUSINESS
Last date to invest in SBI's special FD is September 30: Should you hurry to invest now?
The deadline to invest in special FD schemes of SBI, IDBI and Indian Bank ends on September 30. These FDs are popular with risk-averse investors and senior citizens because of their higher interest rates.
BUSINESS
Cash deposit made easy: Bank of Baroda, Axis Bank roll out UPI-ICD facility
UPI-ICD offers a cardless solution, mitigating the risks of debit card loss, theft or related fraud. By eliminating the need for physical cards, the user-friendly facility provides a secure and convenient way to manage your finances.
BUSINESS
RBI penalty on HDFC Bank: Know the recovery agent rules that lenders cannot violate
As per RBI guidelines, recovery agents are required to follow a strict code of conduct when dealing with borrowers – they have to maintain decency and courtesy, respect personal space and adhere to specified timings for contacting borrowers.
BUSINESS
Google Pay UPI Circle: A step-by-step guide to add family members, make payments
The feature allows two individuals to use one bank account to make UPI payments. It aims to support those who currently rely on others for executing payment transactions.
BUSINESS
Awaiting your deposit insurance claim? Check the status easily with Daava Soochak
The online tool can be accessed through the DICGC website by keying in the bank’s name and your mobile number.
BUSINESS
No-cost EMIs and BNPL schemes are attracting younger consumers who desire flexibility, ease, and control over their payments: Raj Khosla
Mismanaging your credit card repayment cycle, missing EMIs, and accumulating excessive unsecured debt can lead to increased credit card APRs, says Khosla.
BUSINESS
RuPay, Visa or MasterCard? From September 6, you'll have the power to choose your credit card network
Enabling customers to choose their preferred card network may offer benefits like wider acceptance, memberships and so on. However, experts say that it might not bring down the card fees.
BUSINESS
Home loans: These public sector banks offer the lowest interest rates
Union Bank of India, Bank of Baroda and State Bank of India offer interest rates between 8.35 and 8.5 percent on a home loan of Rs 75 lakh for a tenure of 20 years.
BUSINESS
46% of those looked up their credit scores showed improvement in their ranking after checking: CIBIL report
Credit score: 119 million individuals in India were actively monitoring their CIBIL scores as of March 2024, according to a TransUnion CIBIL report.
BUSINESS
Come September, don’t let these 7 changes surprise your wallet
A slew of changes are due In September, some of which could hurt your wallet if you’re not careful.
BUSINESS
Knot on a cruise: 45% of Indian couples ready to stretch budgets by up to 50% for destination weddings
Destination weddings are gaining popularity among Gen Z and millennial couples, according to a survey by Skyscanner, a leading global travel app. About 85 percent of respondents have either experienced or are planning a destination wedding
BUSINESS
MC Explains: How NPCI's new UPI Circle feature benefits users and what precautions to take
UPI Circle's delegated payments bridge the gap for individuals who face challenges in managing their digital finances because of technical barriers. This includes senior citizens and children in the family.
BUSINESS
Gold loans: These banks and NBFCs offer the lowest interest rates
Gold loans: Indian Bank, State Bank of India offer the cheapest gold loans at interest rates of 8.8-9.05 percent per annum. A gold loan is secured and is given when customers pledge their gold with the bank.
BUSINESS
Moneycontrol MF Summit: Here are 5 steps to achieve SIP contribution of Rs 50,000 crore, say experts
Set investors' expectations in the right manner, handhold investors to create wealth and avoiding recency bias are some steps suggested by experts to achieve the SIP of Rs 50,000 crore.
BUSINESS
Cheapest car loans: Banks that offer the best deals this festive season
This festive season, UCO Bank, Canara Bank and Bank of India offer best car loans at interest rates between 8.45 and 8.85 percent on loans of Rs 5 lakh with a five-year tenure.
BUSINESS
RBI’s new rules for P2P platforms: A net positive for lenders, borrowers, say experts
Tighter regulations may have put P2P lending platforms in a spot of bother, but the guidelines bring in better clarity and transparency.
BUSINESS
This Raksha Bandhan, give more than cash: Gift your sister financial wisdom and investments
Gift your sister a term deposit, a SIP in mutual funds, enrol her for a financial planning workshop or book an appointment with a financial adviser to make a personalised investment plan.
