Your most recent credit card bill is Rs 1.5 lacs. Your cashflows do not allow you to settle the card bill in full. What do you do? Clearly, you should have been more careful and should not have raked up such a high card bill in the first place. While you should have been more… Continue Reading
Has your credit card application been rejected? If yes, do you know the reason? The banks usually do not tell and just reject the application. If you have recently started working and had applied for your first credit card, a reason for rejection could be the lack of credit history. Also known as ‘No Credit… Continue Reading
You need to pay your daughter’s college fee of Rs 15 lacs in the coming month. You are wary of visiting the bank branch multiple times for getting an education loan sanctioned. You took a home loan 5 years back. You get a call from your bank that you are eligible for a top-up home… Continue Reading
You must have heard that you can get a loan against your life insurance policy. Are you aware that all life insurance policies are not eligible for a loan facility? Yes, only a certain category of life insurance products are eligible for a loan against policy facility. Types of Life Insurance Products There are broadly… Continue Reading
Struggling with credit card debt? You make small payments on your credit card every month, but the debt just does not seem to go down. Why Does This Happen? Because credit cards are the most expensive debt in the formal finance sector. The interest rate ranges from 36% to 45% p.a. While you may be… Continue Reading
There are many ways to own gold. You can buy gold coins, gold biscuits, or even gold jewellery. You can also hold gold in financial form. Gold mutual funds, Gold ETFs, and Sovereign Gold Bonds (SGBs). SGBs deserve special mention since these bonds also offer 2.5% interest. No other form of gold ownership pays you… Continue Reading
Higher education is getting expensive and many of us need to take an education loan to fund higher education for children. Fortunately, all the banks offer education loan products. And, given the product nature, there are a few peculiarities about education loans. Since the student won’t earn while studying (or earn enough), education loans have… Continue Reading