loans

May 30, 2023 01:56 PM IST

Capital Small Finance Bank eyes Rs 14,000 crore of total business in FY24

The Jalandhar-headquartered bank has also plans to expand its branch network by opening 20 more branches in the northern region.

Moneycontrol Daily: Your Essential 7

A daily round-up of the most interesting articles to help jump-start the day.

Looking out for lower interest rates on home loans? A good credit score helps

If you credit score is over 750-800, most banks and housing finance companies will offer their best – that is, lowest – interest rates to you.

Why a down payment corpus is just as important when taking a home loan

Since there is a limit to the loan amount lenders can offer, home buyers will have to contribute 10-25% of the acquisition cost on their own. It is always better to invest early to build such a corpus. While doing so, there are certain dos and don’ts to be followed.

HDFC looks to offload Rs 2,000 crore stressed developer loans: Report

HDFC’s asset quality has been improving in the past few quarters and it wants to sell the stressed loans before its merger with HDFC Bank which will create a financial behemoth

India’s middle-class and the EMI conundrum: 4-step guide to reducing the home loan burden

Here are some ways in which housing loan borrowers can reduce their EMI burden ― increase the down payment, prepay the home loan, and switch your lender, among others.

BharatPe acquires NBFC Trillion Loans

BharatPe, which acquired a 51% stake in the Mumbai-based NBFC, said it has also infused a substantial amount of investment into Trillion Loans to enable its loan book to grow

SEBI delivers final order in Karvy demat scam, cracks down on MD and directors

The Karvy demat scam, which first came to light in the second half of 2019, was orchestrated by the brokerage house by pledging securities lying in the demat account of unsuspecting customers.

India’s banks have it all, except caution

Strong profit growth has put Indian financiers’ optimism in overdrive, but is it sustainable? Skimping on loss provisions is risky, especially when this strategy has backfired in the past

Google took enforcement action on 3,500 personal loan apps in India in 2022

In August, Google had stated that it had blocked 2,000 personal loan providers from its app marketplace in India from January 2022 to July 2022.

Farm Uneasy: Despite push towards access to formal credit, most farmers continue to rely on middlemen for loans

To meet their growing expenditure, from daily needs and health emergencies to weddings and sending their children abroad for studies, farmers rely on Arhtiyas despite the heavy interest they pay. Arhtiyas remain crucial for the farm economy of Punjab and Haryana 

Gold loans: Banks and NBFCs that offer the lowest interest rates

Central Bank of India, Union Bank of India offer the cheapest gold loans at interest rates of 8.45-8.65 percent per annum

RBI drafts rules on loan penal charges. How will they benefit loan borrowers?

The RBI’s draft guidelines discuss details of the penal charges levied by financial institutions, interest rates on late repayment, terms and conditions of the penal charges, and modification of interest rates in line with regulatory orders, and more

Baby steps: The bulk of Mudra loans fall under the Shishu category of up to Rs 50,000

According to microloan lenders, customers typically use such loans to buy cattle, set up vegetable shops, etc.

RBI releases draft rules on penal charges related to loans

Issuing the rules the RBI said that the quantum of penal charges shall be proportional to the defaults/ non-compliance of material terms and conditions of loan contract beyond a threshold.

Banks sanction Rs 23.2 lakh crore to about 41 crore beneficiaries under Mudra Yojana

Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities.

Bajaj Finance spurts 4% on strong Q4 business update

The non-banking finance company said its customer franchises increased by 3.1 Mn to stand at 69.1 Mn as of 31 March 2023.

LIC Housing Finance MD & CEO on rising interest rates, competition in housing finance industry | LIVE

Moneycontrol’s Correspondent Harsh Kumar in an exclusive conversation with LIC Housing Finance Limited MD & CEO. Y. Viswanatha Gowd. During the conversation, Gowd talks about the challenges in the housing finance industry. He also said that 30 percent of the borrowers are from this age group 25 to 35.

With rates rising, should you prepay your home loan now?

If you have taken a home loan in the last year or two, the rate hikes would have hit you. Consider making part prepayments to better manage your home loan if your finances allow for it. Floating-rate loans work both ways — if you took advantage of a low rate when starting your loan, you should be prepared to pay a higher rate when rates start rising.

Higher spending, missed payments? Your credit card may be cancelled

From a high credit card utilisation ratio to violating terms and conditions, like reward policies, there are several reasons credit card companies can cancel your credit card.

What are conversion charges in home loans?

What is risk-based pricing of a home loan?

Bank of Maharashtra cuts home loan rate to 8.4%

BoM has already waived processing fees for its gold, home and car loans under the festive offer, the lender said.

MC Exclusive | Interest rates on consumer loans unlikely to come down soon: HDFC’s Keki Mistry

In a floating loan, it doesn't make any difference if you take a loan when rates are high or low, said Mistry.

MC Exclusive| HDFC’s Keki Mistry: Cross selling housing loans growth stronger in the bank

The penetration of the housing finance market is just 11 percent in India and there is potential to grow to 20 percent, Mistry said.