Faced with competition from the biggest lender of the country, State Bank of India has made HDFC Bank increase its teaser loan scheme on home loans. The product will carry a fixed rate of 8.25% up to March 2011 and 9.25% for the subsequent 12 months. From April 2012, the existing home loan rates will… Read More »
YES Bank has selected Chandigarh as the first city to introduce ‘Mobile money services by YES bank’ in association with Nokia and Obopay India. The service would allow the customer to transfer money in a safe manner using his mobile phone. The service is called ‘Mobile money services by YES Bank, powered by Nokia’. It… Read More »
Ratnakar bank, has taken the initial step to drastically alter its management structure. The private sector lender has approached the Reserve Bank of India (RBI) to recruit Vishwavir Ahuja, earlier MD & CEO of Bank of America’s India operations, as the would-be CEO.
Crisil has enhanced the debt instruments of ICICI Bank to ‘stable’ from ‘negative’ and said that the bank is expected to retain progress in earnings profile. Crisil said, “Crisil has revised its rating outlook on ICICI Bank upper tier II bonds and tier I perpetual bonds to stable from negative,” it said in a release.… Read More »
If securities are sold on the exchange within a period of one year of purchase, it is short-term in nature. Short-term capital gains are taxed at 15%. Short-term capital loss can be set off against short-term capital gain & long-term capital gains.
Income tax authorities allow you to self assess your income and accordingly pay taxes. Many people tend to believe that his/her income tax return is a drop in the ocean for the income tax authorities and hence not declaring income or understating income may well be worth because it saves you a few bucks. Deliberately… Read More »
The process of electronically filing Income tax returns through the internet is known as e-Filing. It is a simple process in which, you need to fill up the tax return form provided online and the other required information about income, expenditure and savings. Then, it is just a matter of logging into the income tax… Read More »
Our investments are heavily affected by inflation. Assume you have opened a bank deposit offering you 6% interest for one year. Now while closing the deposit account, if the inflation is 8%, you actually end up losing 2% (8-6). It means your investment has lost its value. In order to protect the value of your… Read More »
Like how the number of people in India who participate in extreme sports is low, the numbers of companies ready to provide insurance covers for such people are minuscule. Here are some things that may help you understand and get an insurance cover for such activities.
Making a Will is one of the most important and integral part of Personal Financial Planning. Normally, all of us avoid making it. A Will enables each one of us to distribute our property and assets in the manner we wish to distribute it. A Will may also reduce the risks of undue litigation, delays,… Read More »