MUDRA stands for Micro Units Development and Refinance Agency Ltd. MUDRA was setup by the Union Government in FY2016 to provide funding to non-corporate, non-farm small business enterprises and entrepreneurs. The biggest problem that small businesses and entrepreneurs face is that of funding. It is a known fact that banks and financial institutions are not very… Continue Reading
A few days ago, I watched an interesting TV commercial for a personal loan product from Bajaj Finserv. The product is Bajaj Finserv Flexi Loan. Let’s find out more about the product. How Does the Bajaj Finserv Flexi Loan Work? Think of it as a credit line. You can withdraw/borrow or repay as many times as… Continue Reading
Most Indians have a fondness for gold. And it is not just for ornamental purposes. Many use it for investment too. It is an asset they think they can always rely upon in case of any needs. Fair enough. In an earlier post on gold loans, I had discussed how you can use your gold to take… Continue Reading
In an earlier post on home loan for borrowers in the low and middle income segment, I had reviewed PNB Housing Unnati Home Loan Scheme. In this post, I will review Axis Bank Asha Home Loan Scheme that is targeted at the same segment. You can take this loan for Purchasing a ready, under-construction or… Continue Reading
We have reviewed many home loan products on this blog. However, most of those loan products were for established self-employed professionals and salaried individuals working with Government Organizations or established corporates. However, the desire to own a home is much deep rooted and almost everyone wants to own a house. And most need a home loan… Continue Reading
ICICI Bank has recently launched a scheme where new home loan borrowers will get 1% of EMI as cash back. Most of us would associate cash backs with credit card or online purchases. However, as banks try to find competitive advantage in relatively commodity like home loan market, cash back has found its way into plain… Continue Reading
I recently came across a news item that Tata Housing, a prominent realty company, has tied up with Indiabulls Home Finance to offer home loans at 3.99% p.a. The loan will offered by Indiabulls Housing Finance and the special interest rate of 3.99% p.a. applies for purchases in select projects from Tata Housing. As per the… Continue Reading
Axis Bank has a unique offering where the bank waives off your last 12 EMIs if you have maintained a good repayment record. Looks like a really good deal. Who wouldn’t like to save on 12 EMIs? You would, right? Why will a bank waive off the EMIs? Banks never do charity. Clearly, there is… Continue Reading
Young salaried employees are target customers for all the banks. Therefore, you can expect them to come with schemes to lure such prospects to their fold. The core idea behind such products is to offer such customers principal moratorium for a few years (since they may not be able to afford the full EMI). The… Continue Reading
In an earlier post, I had talked about ICICI Bank Step-up Home Loan, where the applicants could get higher loan eligibility than regular home loans due to moratorium on principal repayment for a few years. However, the limitation with Step-up loan was that the maximum age was capped at 40 years, the loan tenure was… Continue Reading