How to Deal with a Recovery Agent?

I came across an instance in a Youtube video about how borrowers are harassed by recovery agents. A news organisation uploaded the video on their Youtube channel. Do note the media does not smell of roses and tends to sensationalize things. I have not independently verified the claims of the concerned media channel. Broadcast media… Continue Reading

Ask Your Bank for a Lower Interest Rate Today!

The interest rates have been going down for over a year now. I have written many times about how banks and housing finance companies are reluctant to pass on the lower rates or move you to a more transparent interest rate regime (Base Rate to MCLR or MCLR to Repo Rate Linked loans). Even if… Continue Reading

Borrow More for the Same Amount of Gold

The Reserve Bank of India has increased the Loan-to-Value (LTV) for gold loans offered by banks from 75% to 90%. This is to increase the availability of credit to households and small businesses during these difficult COVID times. Many Indian households hold gold. And gold makes for an excellent collateral. From a lender’s perspective, it is… Continue Reading

Loan Moratorium out, Loan Resolution In

The Loan Moratorium ended on August 31, 2020. While I have written about various measures to manage cashflow stress beyond August 31, let’s explore the relief that RBI has afforded to individual borrowers in a circular issued in August 2020. On August 6, 2020, the RBI provided a framework for Resolution of COVID 19-related stress.… Continue Reading

ICICI Bank PayLater Account: Combine UPI and Credit

UPI transactions have boomed over the last couple of years and are giving serious competition to credit/debit cards and net banking in online transactions. The only problem is that you cannot make UPI payments on credit. i.e., the money gets debited from your savings bank account. You must have the money in our bank account… Continue Reading

Merchant EMI vs. Credit Card EMI

You plan to buy an expensive phone from Flipkart or Amazon. You do not have the free cash to buy the phone outright or settle the credit card dues in a month’s time.  What can you do? You can buy the phone on EMIs. You have two options. You take the EMI offer available on… Continue Reading

ICICI Bank Insta Loan Against MF Facility

ICICI Bank has launched an instant loan against mutual funds facility. So, if you are an existing ICICI Bank customer and have made mutual fund investments, you can apply for an instant loan against your MF investments. The loan is available in the form of an Overdraft facility (and not a term loan). You pay… Continue Reading