Death in the family brings not just emotional trauma but can also bring financial agony to the family. If the deceased was the primary breadwinner, the family can struggle financially unless the deceased had bought adequate life insurance coverage. If the deceased had taken a home loan, the loan needs to be repaid too. Since… Continue Reading
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
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
Amazon has launched Amazon Pay Later facility. As the name suggests, you can use the facility to buy now and pay later on Amazon. In this post, let’s find out how this facility works and how you can register for the facility. How Does Amazon Pay Later Work? Amazon is an e-commerce company and cannot… Continue Reading
We get several queries from readers about if they can get a loan or how much loan will they get. Some queries have details about the income or security too. It is not easy to answer such queries. The banks look at many more things before they sign off your loan application. By the way,… Continue Reading
A common grouse among many loan borrowers is that banks are very keen to hike the interest rates when the rates are moving up in the economy. However, banks are not very prompt to pass on the benefit when the rates are going down. Do you fall in the same category of borrowers? If you do not… Continue Reading
So, you want to close your credit card. The reasons for closing a credit card may be many. You already hold other cards that provide you sufficient credit limit and you do not need another card. Or you are paying an annual fee for the card that you don’t need. Or you are fed up… Continue Reading
You have been planning to purchase a house. A completed property is quite expensive. For an under-construction property, you understand it will be difficult to manage both EMI and rent at the same time. You have heard about the concept of pre-EMI and full EMI, that are typically available for under-construction properties. You understand a Pre-EMI… Continue Reading
In this post, I will share an example where the bank did not pass the interest rate cut to the customer for a very long time. I found out about this case in an article in MoneyLife magazine. A gentleman took a floating rate loan from HDFC Bank in 2007. The loan was to be… Continue Reading
You take utmost care while using your credit card. You have never shared payment details with anyone. Despite exercising a lot of care, it may well happen that you may be at receiving end of a credit card fraud. What do you do in such a case? More importantly, what is your liability? Do you have… Continue Reading