Interest rates for NRE deposits having one to two years, two to three years and three years and above tenures have been revised to 3.01 per cent (3.08), 3.10 per cent (3.10) and 3.67 per cent (3.74) respectively
Earlier this week IDBI bank had cut its home and auto loan rates by 0.25 – 0.5 %. Interest rates for home loans up to Rs 30 lakh will be 8.75 per cent as against the existing 9 per cent. Loans between Rs 30 lakh and Rs 50 lakh will attract a rate of 9… Read More »
A Foreign Currency Convertible Bond (FCCB) is a type of convertible bond issued in a currency different than the issuer’s domestic currency. In other words, the money being raised by the issuing company is in the form of a foreign currency. It gives two options. One is, to get the regular interest and principal and… Read More »
ULIPs have higher costs associated with it in the initial years because of the policy charges. Also, market fluctuations will tend to provide lower amount of returns as the amount invested would be slightly lesser in the first couple of years in the policy. However, overall charge structure for the term comes down substantially after… Read More »
Though this move is in the right direction, it will not eliminate frauds completely. One reason is that not many users are aware of the dangers lurking on the Net. This has been evident in the way in which they have given out their personal details online. They don’t take steps to change their passwords… Read More »
A Unit Linked Investment Plan (ULIP) is an instrument which combines insurance and investment. A part of the investments are used to provide life cover and the remaining amount is used to make investments in a unit fund. With ULIPs, you can top-up, switch between funds, increase or decrease the protection level during the term… Read More »
After all, insurance is all about risk, and it is an undeniable fact that the average military serviceman or officer is exposed to a much higher level of risk than the average member of the general population. Clearly then, the insurance coverage available for the general population is utterly inadequate for the needs of the… Read More »
Although they are not better than private banks in terms of facilities provided, their interest rates are definitely competitive. For example, the interest rates on auto loans are anywhere less than 5%-7% than that offered by private banks. However, unlike private banks, the documentation process is lengthy and getting a loan approved quickly is rather… Read More »
NAV or Net Asset Value is the aggregate of the market price of all the shares contained in the portfolio, inclusive of cash after deducting the liabilities divided by the sum of units issued. It can also be called the book value of the unit of the fund. Learn all about it here.
Did you know the word Bank was derived from the Italian word “banco”, which means “bench” over which transactions happened during the earliest days when banking as a concept came into existence. A bank needs an approval from the government to set up its business. This approval or license is applied differently in different countries.