Sameer Kochar is a businessman running a kids’ cycle manufacturing plant in Ludhiana. His business had been doing well, but has been slowly losing its luster due to the competition from cheap imports from China. Sameer has been dejected not because he failed in the business due to his lack of dedication or focus but… Read More »
Borrowing a loan requires careful planning and analysis. When you take a home loan, this becomes all the more important, since the commitment is for a long term. You may end up paying more or getting inefficient service if you choose the wrong scheme or bank for your home loan. There are many mistakes committed… Read More »
Three years of moving into her new house, Minisha finally bought her dream car. While being happy on her new purchase, Minisha was worried as she had no funds left to buy a parking space in her society. Surely parking the new car out in an unsecured location was not a good idea. With her… Read More »
LAP commonly known as property loan is a loan provided by the bank/financial institution against the mortgage of your property (residential or commercial) provided the same has not been put up as security for any other purpose. LAP differs from a mortgage/home loan which is a taken to buy a property; LAP is a loan… Read More »
The one thing that he forgot was to be educated about the different features this card offered, read the agreement and understand the cost of using each of these features. The card offered a grace period or free credit period of 30 days. Thereafter, it charged 3.5 percent interest on the outstanding amount due. Mr.… Read More »
Many car buyers who opt for borrowing think only of car loan option and are not aware of the other possible options like car overdrafts. Let us take a look at the intrinsic difference between a normal car loan and a car loan overdraft facility and analyse the pros and cons for both.
A car loan is definitely one of the most popular loan products in the country. Arvind applied for a car loan at an early age with the dream of buying his favourite car. He researched thoroughly about the different loan providers in India and the benefits of every type of loan. More than 80% of… Read More »
Every individual has a Savings Bank account, but pays little attention to the interest earned on the balance in this account. Some people may not even know that the balance they maintain in their savings bank accounts earn an interest. In the past, before RBI had deregulated the savings bank interest rate regime, all banks… Read More »
Different banks quote their interest rates differently. Some might quote rates with an annual rest, while others may quote rates with a monthly rest. In every case the bank will usually quote the ‘annualised rate’, which is obtained by multiplying the rate per rest period into the number of rests per year. For example: In… Read More »
A recent press report said that the most banks have set up thorough systems, including reports from credit information bureaus in order to determine the repayment capacity of a borrower. The system has been set up due to the solid rise in bad loans during the last few months. Reports said that borrowers with a… Read More »