The recent announcement from RBI curtailing the use of free ATMs to five times a month and a upper limit of Rs.10,000 per ATM withdrawal, the joy of the consumer in availing this service has become short lived. This new ruling comes into effect from October 15th, 2009. However, with people working 24×7, but banks… 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.
Apart from the exciting and often tempting credit card offers, have we ever looked at the fine print, the stuff that actually makes the difference between a good and a bad choice? Most probably, not. Here is some information you should always look at before you opt for a credit card.
This interest range for the bank to choose from is termed a spread. This spread is left to the discretion of the bank and depends on the other factors involved in loan eligibility like the credit profile of the loan consumer for instance. According to RBI regulations, banks are required to make changes in existing… Read More »