When a loan is given by a lender along with it some repayment schedules are also laid down. The repayment schedule may be weekly, monthly or annual. If any of these payments are missed, the loan is said to be defaulted loan. Any defaulted loan will be affecting the credit history of the person who… Read More »
When you borrow money from a close friend, the only thing you have to repay is that amount you borrowed (this is called the principle amount), especially when it is a small amount. Instead you are borrowing from a financial institution, or a bank, and then you will have to repay the original amount plus… Read More »
Credit history is a report which documents anything related to how an individual managed their financial transactions. The Credit Information Bureau (India) Limited (CIBIL) was incorporated in 2000 by the Government of India and the Reserve Bank of India to provide credit information about commercial and consumer borrowers to a limited group of members, including… Read More »
Secured loans are those loans that are protected or backed by an asset or collateral of some kind. The item purchased using such loans, such as a home or a car, can be used as collateral, and a lien can be placed on such purchases. This is kept with the finance company/ bank will hold… Read More »
The cash surrender value is the amount of cash a policyholder gets from the life insurance company if he/she actually surrender/cancel a life insurance policy before its maturity or becomes payable by death . This amount is net of any surrender charges and outstanding policy loans and interest thereon. The cash value of the policy… Read More »
What happens when one puts a rubber ball down on the floor? Simple it bounces back. So what can be a bounced cheque? A bounced cheque is nothing but a cheque that is returned by the bank because the account holder who offered the cheque does not have sufficient money to honour the cheque (do… Read More »
Having a home is everybody’s dream. There are a variety of home loans available today. Choosing the most suitable loan available is the only thing to be done. After a few years of repayment of the loan, the repayment scheme or interest rate may turn out to be unsuitable to a person. The interest rate… Read More »
According to the Q4 results announced by ING Vysya, the banks net profit has gone up by 34 peer cent to Rs 91.3 crore, from Rs 67.9 crore. The bank has reported its growth after taking into consideration the impact of about Rs 36 crore on account of the second pension and enhancement in gratuity… Read More »
This Bank was first established as a Co-operative Urban Credit Society in the year 1917. This was later on converted into a Bank. Till 1993 the Bank had only 8 branches spread over Satara District of Maharashtra only. Since then it has expanded its wings in other prominent Districts of Maharashtra viz. Sangli, Kolhapur, Solapur,… Read More »
Every year the Government opens up new options for tax savings to encourage the tax payers utilize their monies better! However, most of the time, tax payers tend to put off saving plans to the last minute and miss out the right investment opportunities. Here is a list of tax saving options that will meet… Read More »