During this festive season, major banks have slashed their home loan rates to attract the customers. Here are few such offers from major banks. SBI SBI, ‘the most preferred home loan provider’ of the country, offers home loans at 6.7%, for those whose credit score is above 800, irrespective of loan amount. So during this… Continue Reading
With the second Covid wave impacting lives and livelihoods, the Reserve Bank of India has made an attempt to provide relief to troubled borrowers. While the RBI has not opted for an outright EMI moratorium this time, it has allowed banks to restructure loans under Loan Resolution Framework 2.0. Loan resolution (or loan restructuring) schemes… Continue Reading
Have you received messages from your bank that the standing instructions on your credit card will not be honoured from April 1, 2021? And that you must make payments to the service providers/merchants directly. Thus, if you have automated your payments to streaming service providers (Netflix, Disney Hotstar, Sony Liv etc) or for utility payments… Continue Reading
The Finance Minister presented the Union Budget 2021 on February 1, 2021. Here are the key highlights. Tax Slabs Remain Unchanged No changes have been made to the existing income tax slabs. Interest on EPF Becomes Taxable If you contribute more than Rs 2.5 lacs to your EPF account every year, the interest earned on… Continue Reading
The Government of India recently announced certain tax-relief measures for the home buyers and the real estate developers. With such a move, the Government hopes to give a push to the real estate demand in the country. Stamp Duty, Circle Rate, and the Income Tax Problem The real estate industry is struggling with high unsold… Continue Reading
In an earlier post, we had discussed how the Government is considering waiver of interest on interest (compound interest) for the loan moratorium period of 6 months from March 1, 2020 until August 31, 2020. On October 23, 2020, the Central Government announced the Scheme for grant of ex-gratia payment of difference between compound interest… Continue Reading
There are many apps that are ready to provide you quick loans. The experience is seamless. Everything gets done on the app/website. How does everything work? Do these apps lend on their own or they are acting as agents? If any website or a mobile application is offering you a loan, one of the following… Continue Reading
The automobile industry has taken a severe beating during this lockdown. The manufacturers reported zero sales during the month of April, their worst month ever in terms of sales. However, from their point of view, not everything is negative news. Given the desire for social distancing, the commuters may avoid public transport and that may… Continue Reading
While all of us are staying at home amidst Covid 19 scare, all the expenses including the loan EMIs must still be paid. The salaried employees shouldn’t have much to worry, at least in the very short term since they will continue to get their salaries. However, a certain segment of self-employed, professionals, shopkeepers and… Continue Reading
My current credit card expired recently and I was issued a fresh card by the bank. An interesting thing about the new card was the it permitted contactless transactions. Call me paranoid but I was not very comfortable with the contactless feature. I asked the bank to switch off the feature but the bank declined.… Continue Reading