Whenever you borrow a home loan, lenders such as banks and Non-Banking Financial Companies (NBFCs) usually shell-out 80% of your property’s worth as a loan amount. The remaining 20% of the property value is to be paid by you. This 20% amount is called your Down Payment. For example, you are buying a property […]
Your credit card offers numerous dining benefits but you seldom dine out, you are more of a movie buff. On the other hand, your friend likes shopping a lot but her credit card offers airline privileges more than shopping benefits. This is true for most of us. We own a credit card that is not […]
As per an NDTV.com article, the Cheque books of the State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad and Bhartiya Mahila Bank now stand invalid. After the merger of these six banks with the State Bank of India (SBI) in April […]
The State Bank of India (SBI) has announced a waiver of account closing charges for savings accounts that are at least a year old according to a Business Today (BT) news report. This announcement comes only a few days after India’s largest public sector bank announced a revision of the minimum balance requirements for savings […]
The country’s largest public sector bank, State Bank of India, has reduced the limit of Minimum Average Monthly Balance (MAB) in metro cities from Rs 5000 to Rs 3000. The bank has decided to treat bank accounts in metros on the lines of those in urban centres. This move will directly benefit more than 5 […]
Are you Eligible to get home loan subsidy? The announcement of the central government’s ‘Housing For All by 2022’ initiative came clubbed with the Pradhan Mantri Awas Yojna (PMAY) scheme focussed on the urban poor (Economically Weaker Sections (EWS), Lower Income Groups (LIG)) and later, also on the Middle Income Groups (MIG) of the society.
If you are reading this article, then odds are good that you are in a deep credit card debt and looking for a way to get out of it. You are not alone in this quest. According to a recent RBI report, the credit card outstanding amount in India has reached an all-time high and […]
Before you choose a car model and visit the car dealer to bring home your favourite car, you should spend some time in analysing some figures and prepare a set of questions if you want to opt for a car loan. It is always good to make informed financial decisions. The saying “Knowledge is more […]
As per the latest report, 4 PSU banks have reduced their Marginal Cost of Fund based Lending Rate (MCLR) on 6th September, 2017. Punjab & Sind Bank lowered the overnight MCLR by 45 basis points from 8.65% to 8.15%. The one-month MCLR was reduced by 40 basis points to 8.20% and the one-year MCLR was reduced […]
The cabinet has approved the ordinance to increase the cess on luxury cars and sports utility vehicles (SUVs) from 15% to 25%. The ordinance would amend the Schedule to Section 8 of the GST (Compensation to States) Act, 2017, in order to increase the cess and in turn, price of the vehicles. All cars […]
