Terror insurance is considered to be a difficult product for insurance companies, as the odds of terrorist attacks are very difficult to predict and the potential liability enormous. This combination of uncertainty and potentially huge losses makes the setting of premiums a difficult aspect. Most insurance companies therefore exclude terrorism from the insurance coverage.
No special permission is required for an Indian citizen residing outside India to acquire (by purchase or gift) any immovable property in India other than agricultural land, plantation property or a farmhouse. Therefore, Mr. Sethi can buy a house in India as easily as any resident Indian.
Recently the Reserve Bank of India (RBI) has hinted at drafting a policy to restrict banks from imposing prepayment penalty of retail loans. The proposed move follows many such complaints from loan borrowers paying EMIs based on the floating rate of interest. They feel that they are missing out on the benefits of periodical rate… Read More »
The rapidly evolving banking systems have enabled credit cards emerge from a simple tool for cashless transactions to multiple types with different interest rates, fees and reward programs.
This article is a sample case study stressing on the fact that one should look beyond introductory offers to arrive at the actual total loan cost to truly compare various home loan offers from banks. One also needs to consider, will there be better or more expensive offers after a while on both the property… Read More »
The loan offer Gayathri obtained was a flat rate loan. Sanjana on the other hand, had shortlisted two reducing balance loan offers with different rest periods. As her calculations revealed the loan offer with a monthly rest turned out to be a better loan bargain than the one with an annual rest.
Whenever you make a timely payment of the outstanding amount, your credit rating, and consequently your credit score goes up. Similarly any delay or default in the payment, will downgrade your credit score. Your credit score is important as most lenders check out your credit score before approving your loan application. A high score will… Read More »
Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. The term collection agency is usually applied to third-party agencies, called such because they were not a party to the original contract. The creditor assigns accounts directly to such an agency on a contingency-fee… Read More »
The stock market fluctuates, that too when the overall economy is not that stable, it fluctuates a lot. This is true not only for India but across the world. Again this is true not only in our times, but in all known history. To fluctuate is one of the basic characteristics of the stock market.
You can obtain a loan against the surrender value of your life insurance policy from the insurance company or from a bank or obtain a loan from your provident fund account if you have had an employee provident fund account for more than 5 years. The interest rates would definitely be lower compared to the… Read More »