By carefully selecting the appropriate loan product and ensuring timely repayment, borrowers can enhance their credit score, opening the door to better deals and lower interest rates.
A financial plan is a roadmap or a strategic decision-making process of how one can allocate their funds in a proper manner in order to achieve their short- or long-term goals
On August 20, the Bank of Baroda issued a public notice saying Bollywood actor Sunny Deol had unpaid dues on a loan he had taken. The notice was later withdrawn but banks and lending institutions aim to recover their outstanding dues by seizing the defaulter's property and auctioning it as per the SARFAESI Act of 2002
Gold loan lenders are regulated entities and provide written notice of default before initiating legal action against a defaulter. This notice does not intend to convict borrowers or strip their rights, instead offer a specified period to repay the outstanding dues.
The Mumbai-based bank is converting about 530 offices that previously specialized in mortgages into ones with fully-fledged banking services in the coming months, said Kaizad Bharucha. The HDFC Bank deputy managing director said his firm can now offer home loans at more than three times the locations following its merger with HDFC Ltd. and that’s just the start.
Most Indian banks are offering loans between 85 percent and 95 percent of the value of customers' FDs
Union MoS for Finance Bhagwat K Karad asked civic bodies to review the applications returned by banks and resubmit them after rectification.
The proposed framework will enable borrowers to make informed decisions on whether to switch between fixed and floating rate regimes when there is a change in the interest rate
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Reset on home loan and other floating rate loans to be made more transparent. This measure would not make interest rates beneficial for you, but you would have more rights as a customer.
Getting the best interest rate for you loan is what we all dream of when buying a car or a home. But it can get confusing when one has to choose between a fixed interest rate or a floating interest. Watch this video, as we talk about these interest rate options and the difference between them.
Credit card debts must be carefully managed for long-term financial security. Most credit card holders tend to make a few common mistakes that take them deeper into debt.
On the asset quality side, the bank witnessed improvement with the gross non-performing assets (NPAs) easing to 5.21 per cent of the gross advances by June 2023 from 6.35 per cent a year ago.
Managing debts can be a very daunting task. All the loans along with daily expenses is something that can take a heavy toll on your finances. But there are a few ways by which you can make the repayment process seamless. Watch this video to find out.
Home loans in the affordable housing segment, below Rs 25 lakh, have slumped. In the quarter ended June 2023, credit card payment defaults increased. The approval rate for loans to new-to-credit consumers, whom lenders typically approach with caution, was lower.
The bank currently has a home loan book of Rs 650 crore and plans to increase it to Rs 15,000 crore in the next three years, MD and CEO Sumant Kathpalia said.
Outstanding education loans jumped to Rs 97,756 crore on May 19 from Rs 82,662 crore a year ago.
Post the merger of HDFC and HDFC bank, borrowers may have several queries regarding their existing or sanctioned home loans. Here are the answers to some of their key concerns.
Increased provisioning for bad loans, which could come about, both from the new expected loss-based regulations or from increased NPAs, could dent profitability and CRAR ratios in future
If you credit score is over 750-800, most banks and housing finance companies will offer their best – that is, lowest – interest rates to you.
In April, PhonePe kicked off its digital lending pilots for merchants and the company said that it will launch it officially soon, a move that will be a shot in the arm for the fintech decacorn, putting it in direct competition in the lending space with its largest rival Paytm
The Tamil Nadu-based bank was also planning to open 35 more branches and 500 business correspondents this year, Karur Vysya Bank Managing Director and CEO Ramesh Babu said on Tuesday.
Axis Bank’s purchase of Citibank’s retail business drove the market share loss of foreign banks in both lending and deposits. For the first time in more than a decade, public sector banks gained market share in lending during FY23.
The central bank holding off on a rate hike will bring some much-needed relief to borrowers by not pushing up their monthly outgo or interest for now.