LOANS


Moneylife Digital Team 27 April 2011
There is a feeling that replacing the very popular special loan scheme with floating rate schemes will not make much of a difference Experts think that the move by the State Bank of India (SBI) to scrap teaser home loans will have no impact on prospective home buyers. SBI, the...

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R Balakrishnan R Balakrishnan 21 April 2011
SEBI has banned FMPs from giving indicative yields. It should re-examine the fiat Market regulator Securities and Exchange Board of India (SEBI) has said that neither a fund house nor a distributor can give ‘indicative’ returns on fixed maturity plans (FMPs). This is a strange order and...

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Yogesh Sapkale Yogesh Sapkale 20 April 2011
CIBIL, the first credit bureau in India, has launched 'Score', which will help individuals to get loan approvals quicker and negotiate better interest rates Lenders are readily giving loans to customers who have a credit score of 800 and above, therefore, it is in the interest of a...

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Moneylife Digital Team 08 April 2011
Education loans through banks have grown by 20% in the past couple of years. That’s the fastest ever, and banks want to push that further to 30%-40% going ahead The season of college admissions has begun and banks are gearing up to facilitate maximum education loans to students. Going...

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Builders are offering to pay for pre-EMIs. But is this worthwhile for you? Experts believe that real-estate prices have escalated so sharply within such a short period that pressure for a correction is increasing. There is a counter view that builders will not lower prices as input...

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Moneylife Digital Team 02 February 2011
Next biggest areas of complaints in 2009-10 were basic banking facilities and problems over loans and advances   Credit card grievances relating to overcharging and issuance of unsolicited cards accounted for the bulk of complaints received by the banking ombudsman in 2009-10. The...

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Moneylife Digital Team 29 November 2010
High Mark will be the country's fourth credit bureau after CIBIL, Experian and Equifax High Mark Credit Information Services today became the fourth credit information company in the country to receive the approval of the Reserve Bank of India (RBI) to operate as a credit bureau.

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Moneylife Digital Team 22 November 2010
The country’s largest credit records institution is not updating its records on time, according to a complaint by a senior banker. Also, individuals are upset that they are not receiving their credit reports on time Credit Information Bureau of India Ltd (CIBIL) is falling behind in...

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Debashis Basu Debashis Basu 25 August 2010
If you are hard up for cash and need the money immediately, consider pledging gold. But remember, there are serious pitfalls, explains Debashis Basu You can see their advertisements all over: Muthoot Finance, Muthoot Fincorp (the two entities are separate) and Manappuram Finance. They...

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Are you aware of the actual interest you are paying to a bank for home loans or any other loan? You are not. The actual effective interest rate is veiled in a mass of banking jargon—reducing balance, compounding, quarterly rests, etc. That would seem strange for a retail product or service....

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Pallabika Ganguly 31 December 2009
A housing finance company feels that documents like salary slips are not the only way to judge the credit-worthiness of a potential borrower If you want a loan to buy an affordable home, but do not have enough documents (like salary slips), do not worry. Micro Housing Finance Corp Ltd...

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India’s largest lender offers attractive home loan schemes to generate demand, then loses interest when it comes to processing loan requests. One such complaint against SBI exposes the situation Customers lining up for home loan offerings better size up the uphill task ahead of them. For, even...

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Monopoly position enables international behemoths Visa and MasterCard to levy exorbitant costs on client banks; a domestic payment system would be considerably cheaper The country’s central bank, the Reserve Bank of India (RBI), is considering putting in place a domestic card payment system...

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CIBIL Location Plus will provide comprehensive information like customer identification details and contact addresses along with the reported dates and all the customer contact numbers to member banks. Credit Information Bureau (India) Ltd (CIBIL) has said that it has launched a new product,...

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Don’t be lulled by the current low rate on home loans State Bank of India (SBI) has announced an attractive housing loan scheme that charges you 8% per annum. While other banks say it’s a gimmick, they have also started announcing offers to match SBI’s scheme. So, the question is: Have we...

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Grand weddings, parental pressure and the availability of easy loans have wrecked several promising young lives. They burnt up lakhs of rupees to make the family look good for a few days, only to face a future of financial trauma and depression. Nutan Lugani, a committed consumer activist,...

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Shalini Amarnani explains how to avoid such a fate Though widely used and immensely convenient, credit cards can become your worst enemies if you are careless. One negative aspect of using credit cards, instead of cash, is that you don’t feel you’re spending real money. The pleasant feelings...

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“Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry” Shakespeare wrote this in Hamlet. Luckily for the world, nobody listened; otherwise there would have been no banking services. Globally, the debt market is estimated at around...

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