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FINANCE TIP OF THE DAY
Can you afford your loan?!
Know the quantity of loan you can afford. The banks may sanction loan based on your income but you should look at your monthly expenditure and see if you can afford the maximum that banks offer. As a thumb rule, remember not to let your credit exceed 40% of your income!
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Sardar Vallabhbhai Sahakari Bank Limited – Fix Deposit Loan
connected with Core Banking System since May 2009. The bank offers home loans, personal loans, car loans, gold loans, education loan, consumer loans etc. Purpose: To offer financial assistance to the depositors of the bank for personal purpose Quantum of Loan: We provide Fix Deposit Loans up to 90% of the Deposit Amount. Rate of Interest: 1% more than the deposit interest rate for the deposit will be charge for fix deposit loan account …
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State Bank of India
Do you know in those days the loans were restricted to Rs. 1 L only and the loan tenure was a mere 3 months only?! Also, these were security loans. Another trivia to note is that in this period lending against shares of the banks or on the mortgage of houses, land or other real property was forbidden! However, this scenario is veru different today. Today, SBI home loans packs in several benefits and innovative features in its different loan sc…
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How safe is your money at banks?
On most cases of banks declaring bankruptcy, there is an inordinate delay on the part of the Reserve Bank of India (RBI) and the DICGC in settling the deposit insurance for depositors. The reasons cited include the progress in the process of liquidation and attempts to revive the banks. This year 2009 has the dubious distinction of witnessing the most number of banks go belly up in the U.S since 1992 during the savings and loan crisis. Consid…
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Ford Motor Company – The legend
The year 1957 saw the re emergence of Ford as the top selling brand with the sale of 1.68 million automobiles and the introduction of the Skyliner model with an all steel hardtop capable of changing into an open convertible at the touch of a button. An automatic folding mechanism retracted the top into the rear deck. Despite being one of the most expensive models of Ford till then, the Retractable sold around 21 000 pieces before production st…
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Savings rate – Impact on you!
ill be that the policy rate hike will also reflect in saving accounts interest rate. A matured economy cannot afford to have such differences in the market rate and saving accounts rate. Moreover, inflation is stubbornly high for last couple of quarters. The real interest rate from savings account is negative by a huge margin. Internationally, many developed economies have deregulated interest rates in savings account years ago. Canada, USA, UK, …
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Understanding the basics of Forex!
Commonly referred to as FX in short, the forex market is by far the largest in the world with over trade worth $ 4 Trillion on an average day. Simply stated this implies exchange of currencies of foreign countries with the purpose of trading. In India there are three aspects of Forex starting with the RBI which is the overall regulator, the bank to bank or inter bank trading and bank to customer or merchant rate transaction trading of foreign e…
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SBI has rendered help under “Community Services banking of the SBI”
A recent press report said that State Bank of India has adopted a scheme called Community Services Banking under which, SBI Branch Manager Mr. Porompat S. Nikunchand Singh, presented one steel Almirah to the authority of the Kiyamgei Ideal High school during a simple function held recently at the school premises. Mr. S Nikulchand, said that the provision of the steel almirah to the high school at Kiyamgei was made under the newly introduced sche…
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Factors that influence your loan rate
o repay his loan. The interest rate that is finally passed on to the customer is X% plus or minus this benchmark prime lending rate and will correspondingly increase or decrease his EMI or loan tenure, at the time of applying for his loan. Money lent by banks and financial institutions for various purposes come with a cost, which is known as the loan rate or the interest rate at which the loan is lent. In recent times there has been a spate of C…
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Posted in Home loan tips, Personal loans
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Car loan lender SBI increases deposit rates
The biggest car loan lender of the country, State Bank of India has hiked deposit rates on various maturities. The hike has been up to150 basis points. SBI has declared the single biggest increase in 45 day deposits by 150 bps since 1997. These deposits would now earn 4% interest as against 2.5% previously. Deposits in the tenor ranging from 15-45days to 10 years would experience an interest rate hike between 25 bps to 150 bps. The interes…
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SBI has hiked its lending and deposit rates
According to a recent press report SBI has increased the lending rates by 25 basis points and deposit rate by 100 basis points. It has a positive impact on savings because the returns are high, but the home loan and auto loans interest rates have gone higher. The bank’s current deposit interest rate is 9.50 percent. In addition to the hike in deposit rates it has also increased the benchmark prime lending rate (BPLR) to 14%, the floating inter l…
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