Monthly Archives: February 2014

Protect yourself against credit card fraud with these tested tips

Credit card frauds have become quite common as mostly people use credit card at various big and small shopping joints. The use of credit card is quite prevalent for shopping at saloons, grocery stores, super markets, fuel stations and most commonly for online shopping. The use of credit card has made life easier for the shoppers but at the same time it has increased the risk of fraudulent use of credit card by hackers. You can’t stop using your credit card because of this risk but yes you may check the following tips to protect yourself against any fraud. Register

Say no to car loan rejection – Select the right bank for your credentials

The car loan has now become the integral part of the routine expenses for any household. The banks have made car loan cheaper and the criteria for offering the loan have been mad liberal so that this loan can be availed by the people falling into various classes of society. One car per house has become quite common with this easy car loan options. Though the things are now quite simple, the chances of car loan rejection are still there. If you are salaried or business owner and you want a car loan then make sure that you consider following

United Bank of India may son merge into Union Bank of India owing to bad debts

The United Bank of India that has already undergone lots of speculations owing to bad debts have now been expected to soon merge into Union Bank of India as depicted by the sources. This merger would be an act to bail out the bank against the bad debts that are expected to be about Rs. 8,546 crores. The above merger would take place as a part of capital infusion carried out by government. The non-performing assets of United Bank of India grew abnormally under the chairmanship of Managing Director and Chairperson Archana Bhargawa. This merger has followed as a result

Bad loans may make the future worse for United Bank of India

United Bank of India that has 100 years old rich history may go through a very rough patch in coming times owing to bad loans. The banking sector has found it difficult to combat the downfall caused by bad loans and the same may make it difficult for United Bank of India to sustain. The current banking sector works on market driven structure and the weak capital structure will leave no room for certain banks. The Kolkata Bank is suspected to have undergone the sudden downfall not just because of the weak capital structure or bad loans but it is

Last quarter experiencing hick-ups in insurance sale due to revised insurance regulations and commissions

Last quarter of the fiscal year is always a season for insurance sale as most of the tax payers start hunting for the investment schemes to save their tax. This year the scenario has changed as the insurance companies have come up with revised commission structure for their sales team and the regulations have also been amended by the insurance providers. The insurance sales force which is always on its toes and has been considered the most pro-active sales force is now quite slowed down as they have non-lucrative commission structure. The insurance is found to be the best investment

Insure your home loan to secure your home against unfortunate event

Home loans are meant to build the dream home which is otherwise unaffordable. The home loans are made affordable by the banks and that is the reason why home buyers opt for bigger EMIs that cover more than 50% of their monthly income. This is quite a big amount and hence it is important to insure the home loan as well. The home loan insurance is offered by many private and public sector banks at affordable premium. The home loan insurance can be availed for constant sum assured or reducing sum assured. The constant sum assured will remain the same

SBI targets the existing borrowers and the new borrowers with the low interest rates on home loans

The home loan war has begun with the banking giant SBI reducing the home loan interest rates for the new borrowers as well as the existing borrowers of the rival home loan providers. This public sector bank has already started campaigning to the new home loan borrowers about the reduced home loan rates. The bank has this time decided to target the home loan borrowers with their rival banks too. Their campaigning in this segment would be directed for the customer segment achieved from home loan transfer from the rival bank to SBI. The bank has taken this quite seriously

You can now trust Unit Linked Pension Plans with the capital protection

The pension plans work for the retirement and that is the reason why people refrain from investing in the Unit linked pension plans. These plans are linked to the equity market and the associated risk is also quite high. The retirement benefit may become very less if the investment in the equity market doesn’t work. The equity market is the volatile market. The profits may turn to loss if not handled properly. The retirement funds are not good to be invested in volatile market but the same can now be tackled as the new regulations have introduced capital protection clause

Home loan can save you money by reducing your income tax deductions – find out how

The loan means borrowing money but the fact is that it can save you money in the form of reduced income tax deductions. The different loans may have different advantages but the home loan may get you the maximum benefit as it directly impacts your income tax deductions. The home loan may be the best way to turn your dream house to reality but it may also be the great choice for increasing your take home salary by reducing the overall income tax payment. How it works? The home loan repayment would be in the terms of EMI and this

Indian Bank announces revision in interest rates for FCNR

Foreign Currency Non-Resident (FCNR) deposits with Indian Bank may now fetch revised interest rates as per the announcement made by Indian Bank. These rates would be applicable from immediate effect and the NRI investors may now deposit their savings with these revised rates. These FCNR deposits are made by NRIs in different currencies. The rate revision may differ as per the deposited currency. The deposits made in dollar will fetch lower interest rate by 0.01% and would now get returns at 2.57%. The interest rate earlier was 2.58% for the deposits made for 12 to 24 months. The interest rate