LOANS


Nishant Vivek 17 April 2019
As a personal loan is an unsecured loan, its interest rate, terms, and other features that you can enjoy are heavily dependent on your credit score. A good credit score, one that’s 750 and above, can help you bag the loan amount you need at an affordable interest rate from a reputed lender....

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Nishant Vivek 01 March 2019
There are more than 42.50 million businesses in India, contributing to 95% of the total industrial output of this country. It employs 106 million people and produces more than 6,000 types of products. The sector has maintained an average growth rate of over 10% every year.   Such...

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Moneylife Digital Team 06 November 2018
UPDATED on 10 November 2018 at 1550 to include response from CapitaWorld and SIDBI-led consortium   The Diwali gift from prime minister Narendra Modi to the micro, small and medium enterprises (MSME) sector, may well turn out to be a privacy and security nightmare for small businesses...

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Nishant Vivek 18 September 2018
The Pradhan Mantri Awas Yojana(PMAY) has brought a series of benefits for first-time homebuyers. A subsidy on your home loan interest is one of the prime advantages that PMAY extends to you. Claiming the subsidy on your home loan is easy basis your eligibility, if you apply for the Pradhan...

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Nishant Vivek 22 August 2018
Your home loan interest rate usually depends on your lender, the central bank’s policies, and the current economic climate in the country. During times of inflation, the Reserve Bank of India (RBI) may hike the base rate, which may impact your home loan interest rate and subsequently your...

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Nishant Vivek 09 August 2018
Every parent wants the best for their child, especially when it comes to his or her education.   But a great degree at the best institutions can be quite expensive, especially if you are looking at universities abroad. Costs like books, practicals, tutorials, and living expenses drive...

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You may want to renovate your home to carry out essential repairs and maintenance work or to improve its aesthetics and your comfort. Both can come with a heavy price tag. In order to meet the expenses without any compromise, consider applying for a home renovation loan. Here’s how renovating...

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For long, parents have been saving for the primary and secondary education of their children, as well as any higher studies. The past 10-15 years have seen a change with more students willing to take on the responsibility to fund their education, and this is where student loans play an...

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Where there is an asset, can the lender be far behind? After loan against property, here comes loan against mutual funds (MFs). HDFC Bank has launched an online overdraft (OD) facility that can be set up in under three minutes, for lending money against your mutual fund holdings. The Bank has...

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The duration of a loan, especially a mortgage, tends to be so long that one tends to forget details about what went into the process of procuring the loan. This, sometimes, leads to carelessness in ensuring that the loan is correctly closed.    Every Thursday, I guide people facing...

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IANS 02 November 2017
India's largest lender State Bank of India (SBI) on Thursday announced reduction of interest rates on home and automobile loans by five basis points (bps).   In a statement issued here the bank said, it has reduced home loan interest rates to 8.30 per cent.   Similarly,...

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The State Bank of India (SBI) on Friday announced reduction in home loan interest rates by 10 basis points (bps) for salaried women who take a loan of above Rs 75 lakh, effective from June 15.   "Home loans above Rs 75 lakh will now be cheaper by 10 bps with effect from June 15. The...

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Outlining its plan to deal with the mounting problem of banks' bad loans, the Reserve Bank of India (RBI) on Monday said it will reconstitute the oversight committee (OC) to operationalise the banking ordinance for resolving the issue of non-performing assets (NPAs).   "It has been...

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Moneylife Digital Team 17 May 2017
Here is good news for new borrowers of home loans as they can now get lower interest rates, with several lenders having reduced the rates. However, for existing borrowers on floating rate basis, there is no immediate respite, as they will have to wait for the next reset date for the marginal...

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Mumbai, The mounting problem of bad loans of banks cannot be resolved by their simple recapitalisation and options like raising private capital for state-run banks need to be considered to deal with the issue, the RBI said on Friday.   "I wish to propose that we deal with the ailing...

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Moneylife Digital Team 19 January 2017
HDFC Ltd, one of the largest housing finance company, on Thursday announced a 15 basis points (bps) reduction in its retail prime lending rate (RPLR). This reduction would benefit all existing customers, the lender said.   For all new home loans of up to Rs75 lakh, interest rates for...

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Abhirup Ghosh 05 August 2016
The Pradhan Mantri Awas Yojana (PMAY)– Housing for All aims at addressing the shortage of 20 million slum and non-slum urban poor households, by 2022. Under the PMAY, central assistance will be provided to the Urban Local Bodies (ULB) and other implementing agencies through union territories...

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Bengaluru: Outgoing Reserve Bank of India Governor Raghuram Rajan on Wednesday said that education loans should be made flexible to the borrower.   "What a number of banks are finding is that some of the education loan borrowers are not paying back, default rate is picking up," said...

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Jason Monteiro Jason Monteiro  and   Niraj Prajapati 23 June 2016
Indians love gold and even the poorest Indian tries to acquire the smallest trinket that doubles up as jewellery and long-term savings. Naturally, television advertisements featuring movie superstars who tell you how easy it is to borrow money against that carefully accumulated gold, touch an...

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Moneylife Digital Team 20 May 2016
Moneylife Foundation, a non-governmental organisation (NGO) with over 39,000 members, has requested the Reserve Bank of India (RBI) to provide clarity on defaults recorded by credit information companies (CICs), proper dispute resolution mechanism for credit reports, score and history and...

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