-
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!
Search Results for: www.rediffmail.com
All about the Banking Ombudsman
Statistics show the banking Ombudsman Scheme has been effective in dealing with customer complaints efficiently and in reasonable time. To give an example, during the year 2007-08, the Banking Ombudsmen received 47887 complaints. There was a 24 percent rise in the number of complaints filed in the previous year (38,638). The Banking Ombudsman could settle 89 percent of the total complaints as against 84 percent in the previous year. Furt…
Read more »
Posted in Loans, Money management
Leave a comment
ICICI Bank has made Money2India available on mobiles
…ansfer and Net Express available on Money2India.com for their money transfer tracking needs. Money2India (www.money2india.com) is a popular online money transfer tracking service offered to NRIs by ICICI Bank. The user has to complete a simple one-time online registration at Money2India.com and can avail the online tracking service for money transfers from any bank in 15 countries to any account with over 100 banks in India. ICICI Bank is renowne…
Read more »
Posted in Articles, Glossary
Leave a comment
Axis Bank has planned to offer Online Loan Application Facility on its Website
ons provider excelling in customer delivery through smart use of technology. He said that the bank was confident about success of the web based customer acquisition model is and is expected to play a large role in the days to come. Mr. Adhil Shetty, CEO, BankBazaar.com, said that the BankBazaar.com model adds appreciably higher value to loan consumers as it offers an end-to-end solution, where the consumer will be able to do everything online wit…
Read more »
Posted in Articles, Glossary
Leave a comment
Understand your credit profile!
…iduals applying for a home loan are in the age group of under 50 years while only around 10% are in the above 50 category. Tip: If you are nearing your 50s but feel you need a 20 year tenure to enable you to pay your loan EMI comfortably, you could apply for the loan with your son or daughter as a co-applicant which will help you increase your loan eligibility and loan tenure. Place of employment and job stability Banks place a lot of importance …
Read more »
Make disability an ability
…cally challenged Loan tenure: About seven years You can get a rebate of 0.5 per cent on interest for timely repayments of the loan amount. NHFDC also offers loans through Punjab & Sind bank (P&SB) and Oriental Bank of Commerce (OBC). Contact details of NHFDC: National Handicapped Finance and Development Corporation (Ministry of Social Justice & Empowerment) Red Cross Bhawan, Sector-12, Faridabad – 121007 Number: (0129) 2287512, …
Read more »
Posted in Personal loans
Leave a comment
Fixing errors in your CIBIL credit report
…s that the bank has seen when they drew a report on you. Hence, it is important for you to request the bank to provide you the control number. Dealing with an uncooperative bank When the bank is uncooperative you could post a complaint in the bank’s website and if the bank does not respond within 15 days, you can register a complaint with the banking ombudsman, presenting a copy of the complaint posted on the bank’s website as proof. …
Read more »
Posted in Credit cards, Home loan tips, Personal loans
13 Comments
What everyone must know about CIBIL
The idea behind setting up CIBIL is to gather all existing consumer and commercial credit information and pool it in a one-point source, for reference. As in, an individual or commercial establishment could have accounts in several banks and credit from different lending institutions. All such data can be pulled out at one single point, for a quick reference check on the individual or commercial establishment seeking a loan. This helps the lend…
Read more »
Posted in Credit cards, Home loan tips, Personal loans
15 Comments
Did you know about the KYC?
Earlier the KYC Know your customer) norms had to be complied by those investors who invest more than Rs 50,000 in Mutual Funds. But, w.e.f January 1, 2011, you will need to comply with the know-your-customer (KYC) norms before you invest in a mutual fund , irrespective of the amount. What is KYC? They are norms under Prevention of Money Laundering Act to keep a check on the legality of funds used for investment. KYC is done to prevent money laun…
Read more »
Posted in Articles
Leave a comment
Bubble trouble – What, why and how?
…y to make use of the various financial tools, online and offline will also help while opting for the right strategy. Remember the dot-com bubble that formed in the 1990s when almost every man and his dog invested in dot-com companies blindly driven by the price rise and with little or no insight into what these companies were really worth! And none can forget the dot-com bubble burst in the year 2000 that gobbled up nearly half the value of…
Read more »
Posted in Miscellaneous
Leave a comment
