Monthly Archives: December 2013

Your gold can now fetch you money with Reserve Bank giving green signal to banks for gold loans

Reserve Bank of India has extended the fresh directive to banks for offering loans against gold up to Rs. 1 lakh. This may include loan against gold jewellery and gold coins. The lump sum payment or bullet repayment against the gold loan will also be permitted as a part of this scheme. The loan would be offered against gold jewellery, gold coins, mutual funds, ETFs etc. The gold is known for its use in jewellery and the increasing price of gold has left it in lockers. The use of gold is being limited due to the high cost and threat

The car loans can turn out to be a cheaper affair if you know the insider’s story

Buying a car has been the status symbol for years and that has not yet changed even after so many cars entering the market. The small cars have still made the cars available to all classes of society but yet the car loan interest rates have kept the car out of reach for many. The car loan can now turn out to be a cheaper affair if you know the insider’s story. The below points can surely help you get your dream car loan at cheaper interest rates. Check for the car models that have profitable loan offers Some car

New Year gift by ICICI home bank to the new house buyers

The house buyers have all reasons to rejoice in the coming year 2014 as ICICI bank has reduced the home loan interest rates. This move was taken by the bank to align the home loan interest rates with those offered by the home loan giant HDFC. The reduction in home loan rates has been announced by 15 basis points to 40 basis points for the loan amount up to Rs. 75 lakh. This scheme may not offer due benefit to the existing home loan borrowers but would be extended to the new loan borrowers. The bank is planning to offer

The common problem faced for property seekers – Buy or Rent

The property rates are touching sky and the home seekers may therefore face a common confusion about buying or renting the house. This decision may mainly depend on the city you are finding the house and also on your income. The prevailing property rates and rent may also influence this decision to a large extent. This decision may be tricky and may depend on many other factors but when the money is only the decision factor then the following tips may surely help. City in which you are searching the house Some cities have more supply of property for rent

Kotak Mahindra Bank will now explore the rural markets

Kotak Mahindra Bank has always made its impact on the urban market with its operations ranging from big cities to metros. The bank has now decided to go rural with its strategy to focus on the less touched rural markets. Thus move made by Kotak Mahindra Bank will make it stand along other nationalised and major private banks. The bank has made big plans to open about half of the branches in rural India and would also make his presence felt in semi rural areas. The banks need to open about quarter of their new branches in the regions having

The home loan rates may not go further up – Thanks to the slump in realty demand

Recently, the home loan sector witnessed good hike in rates being introduced by the home loan financers like State Bank of India, HDFC and others. The hike was termed as the initiative made by the banks as a part of fund management. The banks like SBI brought up its rate to around 10.5% to 10.75%. HDFC had also announced the increase in base point rate. The hike in home loan rates have now been checked as the realty market is witnessing a downward trend. The liquidity issues have reflected in the realty market as the demand for under construction properties

Shopping with your debit card may now require ATM pin for validation

Debit card shopping will now become extra secure as the shopper will have to enter ATM pin while indulging into shopping. The credit card and debit card shopping have received good acceptance from last decade. The shoppers refrain from carrying cash along with them as it creates unnecessary weight in the wallet and may also create issues like theft or robbery. The shopping with card may include credit card shopping as well as debit card shopping. The credit card shopping may require payment to be made later when the bill is raised by the credit card provider. In case of

Mutual Fund industry going through rough patch followed by SEBI’s tough directives

The mutual fund industry is experiencing turbulence at the time of launching new funds owing to strict directives by SEBI. The international asset management giant Franklin Templeton faced a strict no from SEBI for introducing new fund by its India unit. This fund was planned to direct the investments to various financial segments like money market, bonds, stocks and gold. The company expected a good return as a part of this initiative but this was prevented by SEBI. The officials have revealed that the scheme seemed to be very risky for the investors and hence it was not given a

Inflation linked savings instruments will soon be operational as per RBI directive

RBI has announced a special inflation linked savings instrument for small investors to check the hefty investments made on gold. The rising inflation has directed the investor towards investing their hard earned money on gold. This investment wave will be controlled by the 10 year savings scheme which is planned to be introduced in December’ 2013 as a part of RBI directive to check inflation. This scheme will be inflation linked and would benefit the customer with good returns. The scheme will be launched under the title of IINSS (Inflation Indexed National Savings Securities). It will be extended to the

Planning to transfer your home loan – Go through the check points below

Transferring the home loan from existing lender to the new lender has become the trend of the time due to interest rate being higher for the older borrowers. The process for transferring the loan is very easy but there are certain points that need to be checked before making your mind for loan transfer. Points that govern the decision for loan transfer -          The transfer of loan is beneficial only when it is done during initial years of the loan tenure. This is because the interest portion of the loan amount is already been paid during the first 3 to