A personal loan comes in handy when we are short of funds and need the money as soon as possible. A personal loan is an unsecured loan given by a lender. While taking this loan, the potential borrower is not…
Flat Interest Rate vs. Reducing Interest Rate
Flat Interest Rate Flat interest rate, as the term implies, means an interest rate that is calculated on the full amount of the loan throughout its tenure without considering that monthly EMIs gradually reduce the principal amount. As a result,…
Ugly outcomes of the govt’s waiver of interest on interest
The Indian government is willing to bear the cost of the waiver of interest on interest charges on loans in the wake of the distress due to the pandemic. The proposal seems well thought and middle class borrowers would rejoice…
Latest Home Loan Interest Rates July 20, 2020
What are the various fixed and floating interest rates on offer for home loans today? Let’s take a comprehensive look at interest rates across banks and housing finance companies. Institution Under Rs. 30 L Rs. 30 L to 75 L…
Don’t just consider the interest rates when taking a home loan
Interest rates on home loans have been falling ever since the lockdown, with the Reserve Bank of India (RBI) opting for deeper cuts in the policy rates to revive demand and economic activity that has taken a beating due to covid-19. In…
Government announces 2 per cent interest subsidy for small borrowers under Mudra Yojana
The government on Wednesday approved a 2 per cent interest subsidy scheme for Shishu loan account holders under the Mudra Yojana to help small businesses tide over difficulties created by the lockdown following outbreak of coronavirus disease. Under Shishu category,…
Where to invest now when interest rates are falling?
The Reserve Bank of India (RBI) has cut the repo rate five times this year. Banks, following suit have cut interest rates on loans as well as on an investment avenue favoured by many Indians – fixed deposits. Yes, the…
Interest Rates in India
How the interest rate on your loan is determined? There are many factors that affect the interest rate that you have to pay on a loan such as credit scores, collateral and so on. The following are the few factors…
SBI Cuts Interest Rates on Home Loans, Fixed Deposits
India’s biggest bank State Bank of India or SBI has cut interest rates on fixed deposits or FDs, its second revision in about 15 days. SBI today lowered FD rates by 20-25 basis points. SBI also announced reduction in its…
Small Savings Scheme Interest Rate – Revised
A savings scheme with maturity of 15 years, PPF provides the benefit of compounding over a long period. It also offers EEE or ‘exempt, exempt, exempt’ advantage in terms of tax advantage, meaning subscribers get deduction benefit up to ₹1.5…