Car loan and home loan offers are on with attractive interest schemes for this festive season! The home loan offers this season get even better with the dip in home loan rates expected to continue even past the magic “8 %” figure that was on offer to improve the lending scenario and breathe new life… Read More »
Car loans, Housing loans, Agri loans and Infrastructure lending have helped State Bank of Travancore to achieve a credit growth of over 13 percent as compared to the previous year. News reports have suggested that the Bank expects to end this financial year with a healthy credit growth of 20%.
A company official said that increase in loan disbursements, reduction in cost of funds, and lower non-performing loans helped HDFC achieve this milestone. The interest spread on loans for the quarter was 0.01 % higher at 2.2 per cent compared with 2.19 per cent in the preceding quarter and 0.04 % lower when compared to… Read More »
Inspite of the recession taking its toll on the state of finances of this country, some banks seem to have registered a good growth in profits thanks to the life saving measures implemented by the RBI to safeguard the economy from crumbling.
It is that time of the year when festivities bring a smile on everyone’s face. Pst October is usually a high spend time frame, where people indulge a bit having worked hard all year. From now until new year its time for loosening the purse strings. Retail markets well aware of this put up great… Read More »
Banks feel the need to educate the consumer on financial literacy and in a move to stress this Reserve Bank came out with a concept paper on the subject and Financial Literacy and Credit Counselling (FLCC) centres in April 2008. These centres could be a great resource for loan applicants as a final step in… Read More »
This interest range for the bank to choose from is termed a spread. This spread is left to the discretion of the bank and depends on the other factors involved in loan eligibility like the credit profile of the loan consumer for instance. According to RBI regulations, banks are required to make changes in existing… Read More »
Banks feed in borrower data and personal information, which the CIBIL systems pool together. A control number is generated when banks pull out your credit report on a requirement basis. The control number is a unique number, which is generated every time any bank or credit institution pulls out a credit report on you. CIBIL… Read More »
Now, you might assume that the equal parts of the principal and interest is repaid to the financial institution every month, however this not the case. During the initial years the interest component repaid is higher and during the latter years of repayment the principal component is higher. So, if you think you have paid… Read More »
Often people opt for loans due to its ready availability without giving thought to their other financial commitments. Also, they fail to account for an emergency fund and a savings plan. This could fall into perspective once a summary of a person’s credit repayment is available in a single log.