How Fintech Loans Can Deceive You

I will give you Rs 1 lacs. You have to pay me 5% interest. Sounds like a good deal? I will add a few caveats. You must pay 5% interest upfront. Pay off the loan in 3 equal monthly installments of Rs 33,333 each. Is this a joke? No, it is not. This is the… Continue Reading

How Credit Card Refunds Are Adjusted?

Ever wondered how refunds from failed/reversal/refund transactions are adjusted to your credit card bills? You may think, since the transaction will eventually be reversed, the bank will not charge you for the transaction. You are right, but the timing of the reversal/refund may sometimes complicate things a bit for you. RBI has specified the adjustment… Continue Reading

What to Do if You Receive an Unsolicited Credit Card?

Have you ever received an unsolicited card? OR received a card that you applied for but now think that you shouldn’t have applied for this card. As per regulations, the banks are prohibited from issuing unsolicited cards and are required to seek consent from the customer before issuing a card. Reproducing an excerpt from RBI… Continue Reading

How to Control Your Credit Card Expenses?

Have you come across a friend or a colleague who cannot keep a check on monthly credit card expenses and struggles to come to terms with the size of the card bill? Vows to keep expenses under check from next month, but the story keeps repeating. I am sure you have. You wonder why. They… Continue Reading

Loans or Investments: Make an Informed Decision

A loan for one is an investment for another. And vice versa. Your loan (liability) is an investment for the bank. Your investment in a bank FD is a liability for the bank. Similarly, your insurance investment is a liability for the insurance company (in cases where the returns are guaranteed). We have seen how… Continue Reading

Should You Get an Add-on Credit Card for Your Family?

Your daughter studies in a different city. You transfer money to her bank account every month for her regular expenses. Or whenever she asks for it. UPI payments are accepted everywhere, and she has no problems getting by. She conveniently makes payments from her favorite UPI app for her purchases. Now, imagine she needs Rs… Continue Reading