Do you use credit cards for cashbacks, discounts, and rewards points? Many of us do. What if the bank were to suddenly reduce such benefits on your credit card? Why Would Your Bank Reduce the Benefits? Yes, the customer may get annoyed and feel cheated. You may use the card less or even stop using… Continue Reading
If you own a credit card and have been paying your bills on time, your bank must have bombarded you with one of the following offers. This is over and above various merchant/brand or discount/cashback offers that the bank sends communications about. Get a higher credit limit. Get a personal loan on your credit card.… Continue Reading
Credit card debt is the most expensive debt in the formal finance sector, with the annual interest rates ranging from 30% to 45% p.a. Hence, you should try to avoid revolving your credit card debt. “Revolving” means not paying your credit card debt in full and carrying forward unpaid amounts to the next cycle. The… Continue Reading
That’s how it should be, right? Longer home loan tenure means you want a longer period to repay the home loan. And that can happen only if you repay the loan slowly. Still, when I wrote about a 40-year home loan product a few weeks back and discussed how you would have paid only ~15%… Continue Reading
Every lender claims to offer the “Best Personal Loan”. Fair enough. “Best” is anyways subjective. No one knows what aspect of the personal loan the bank is referring to. Well, according to you, what shall be the features of the “Best personal Loan”? In this post, let’s find out. While we are discussing the “best”… Continue Reading
Credit card frauds — nobody wants to experience one. However, there is no dearth of charlatans who want to pull one over on you. In the past, I have written many times about how to prevent credit card frauds. But this is an evergreen topic and it never harms to revisit some of the common… Continue Reading
RBI has increased repo rate from 4% p.a. to 6.5% p.a. since May 2023. If your home loan is benchmarked to RBI Repo rate, that means a hike of 2.5% in your home loan interest rate. Impact of Interest Rate Hike on Your Loan Tenure Usually, the default option in case of interest rate hike… Continue Reading
This may sound strange, but this may indeed be true for many taxpayers. Why? Because the Union Budget 2023 has incentivized the New Tax regime in a big way by reducing the tax rates in the various income slabs. And the New Tax regime does NOT give you any tax benefits for tax-saving investments. No… Continue Reading
This sounds a bit strange since we usually associate credit cards with overspending and incurring unnecessary debt, which leads to financial strain and difficulty in managing finances. Then, how do credit cards figure here? Well, credit cards can be quite useful if you use them wisely and responsibly. Let’s first look at a question to… Continue Reading
For many of us, a new year starts with resolutions. And these resolutions can encompass a wide range of areas such as physical health, financial wealth, personal spirituality, and relationships. What are your resolutions for the new year? Well, you don’t have to tell us but make a concerted effort to see them through to… Continue Reading