Pratip Chuadhuri, SBI’s newly appointed Chairman, said that the bank will engage with the RBI to lower the higher-than-comfortable provisioning requirement of teaser loan. In an attempt to temper the highly charged-up discourse, Mr. Pratip said, “The current provisioning requirement of 2 % on teaser loans is a bit difficult for the bank when compared… Read More »
LIC Housing Finance recently announced the launch of its new home loan product – Freedom, which offers loan amounts up to Rs. 1.5 Crores for interest rates as high as 10.75%. An interest rate of 9.9% would be offered for loan amounts up to Rs. 30 Lakh and an interest rate of 10.35% would be… Read More »
Investing in stocks and equities are advised to only those investors, who wish to fulfill their long term investment goals. As the market is fairly unpredictable in the short run, in the long run, the markets seem to promote healthy returns. Gaining high returns is also subjected to your stock options. If you have invested… Read More »
Bankbazaar gives you the guide for your prepayment hierarchy: Costliest loan first: The costliest loan is definitely the debt your credit card carries, an interest rate 45% per annum. It is very important to clear this debt off as soon as possible. If you think that it is fine to maintain the minimum balance, then… Read More »
There are a lot of things you need to bear in mind when you think about prepaying a loan. Prepayment penalties and various other charges differ from bank to bank. In such situations, the actual amount to prepay becomes slightly higher. The first thing that your lender is going to look at is the source… Read More »
While bank fixed deposits of up to Rs. 1 lakh per bank branch are secured by Deposit Insurance and Credit Guarantee Corporation, there is no such guarantee on CDs. Investing your hard earned money and losing it, will be highly undesirable as it will lead to extreme conditions of you getting into a debt trap… Read More »
If you do not have any financial responsibilities which you have to fulfill in the next 1-3 years, it is best you direct your investments to higher equity exposure. Assuming that you are in your late 30s and have kids who are in their primary classes and have your own house by now, no loan… Read More »
As the gold rates go up, you can avail higher loan amounts on your gold. For instance, on 18 March 2010, you would have got a loan of up to Rs1.50 lakh for 100g of gold, worth Rs16,701 per 10g then. While on 18 March 2011, when gold was at Rs20,776 per 10g, the same… Read More »
PPF is generally not recommended for senior citizens because of its lock in period of 15 years. So, getting interest rates after 15 years, during post retirement age, would not make much sense. If you have been a prudent investor, and managed to build a good corpus which not only debt and equity assets but… Read More »
The time horizon: If you as an investor, are looking forward towards a short-term time horizon, then a short-term bond fund or a money market fund, preferably a liquid fund, would be ideal, as the capital would be protected and you can enjoy current income without being bothered by the daily fluctuations of the bond… Read More »