Bajaj Finance offers instant personal loans, providing pre-approved offers of up to Rs 12,76,500. Some customers may not need to submit any documentation, while others may need to provide basic paperwork. The loan application process is online and the disbursal process is fast, with funds being credited within 30 minutes to four hours.
Is it possible to get a credit card if you are not employed — what if you are, say, a student, a retired person or a homemaker? Proof of income is not the only way to understand the repayment capability of a credit card applicant. Banks have multiple ways to check the credibility of a customer who does not have salary-account statements or payslips. Find out how you can get a credit card without income proof.
SBI offers interest rate on car loans between 8.80% to 9.70% and will vary based on CIC scores. Also, interest rate can be higher if the tenure of the car loan is above 5 years.
A gold loan can be a suitable option for those looking for a loan with collateral. The loan amount is based on the value of the gold, allowing borrowers to access up to 75% of its worth. The interest rates for gold loans are generally low, making it a cost-effective option. Additionally, the eligibility criteria for a gold loan are simpler compared to other types of loans, and the repayment options are flexible. This type of loan can be used for various purposes and does not have any end-use restrictions.
Home loan prepayment: Most banks discourage prepayment because it results in a loss for them. Banks incur additional charges for rerouting the cash through the credit channel when you want to pay off a loan earlier than expected. Here are banks and their charges of pre closure of home loan.
In 2023, several patterns of the Chinese P2P ecosystem have found their way into India. Here are some parallels that the regulators and investors need to watch out for.
Interest rates on floating rate home loan, especially EBLR home loans, have risen by almost 2.5% within last 16 months due to which the EMIs have gone up. Borrowers will now need to pay a much higher total interest due to higher interest rate. However, smart use of partial prepayment can significantly bring down the total interest outflow and help borrowers to pay off the loans quickly.
Home loan interest rate: When the interest rate goes up, banks usually increase the tenure of the loan to shield borrowers from rising EMIs. But tenure extension has its own cost as borrowers end up paying a lot of money towards interest payments. Now RBI has asked lenders to provide borrowers the options to either increase the EMI or extend the loan tenure, or use both options together at the time of resetting interest rates on home loans. What's new in it and how it is going to benefit home loan borrowers? ET Wealth Online explains
The MCLR-based rates will now range between 8% and 8.75%. The bank revised Benchmark Prime Lending Rate to 14.95% from 14.85%, effective from September 15, 2023.
The RBI made this announcement via a notification issued on September 13, 2023. Personal loans include any loans that involve collateral, like home loan, car loan or gold loan.
ome lenders impose a processing cost that is flat, while others often charge a variable processing fee that might reach 2% of the loan amount. Here are tops banks and their processing fees charged for a home loan.
Home loan interest rates for individuals vary depending on the various factor including CIBIL Score, salary, employment, tenor, etc,. Here is a full list of home loan interest rates of banks as on September 7, 2023.
Applying for a home loan can be overwhelming, but this step-by-step guide can help simplify the process. It is important to research and compare lenders to find the best deal. The application can be done online or in person, and certain documents need to be attached
The concession is applicable on regular home loan, flexipay, Nri, non-salaried, privilege, Apon Ghar. The last date for concession on home loans is till December 31, 2023.
Here is a look at the latest MCLRs of ICICI Bank and PNB. According to the bank websites, the increased interest rates will come into effect from September 1, 2023.
State Bank of India (SBI) customers can avail concession on home loans up to 55 bps lower than the actual rate. The rates are offered only during the campaign valid up to August 31, 2023.
When the interest rates on a floating rate loan rise, borrowers may either see a hike in their EMIs, or an extension of the loan tenor, or both. However, lenders follow arbitrary practices in this regard. Taking cognisance of the numerous complaints received on the changes imposed by lenders without proper communication or consent of borrowers, the RBI has introduced a new framework for resetting floating rate loans. Here is how the new measures will provide succour to borrowers.
HDFC Bank has joined hands with Swiggy, one of the most popular food and grocery delivery platforms in the country, to launch a co-branded credit card — the Swiggy HDFC Bank Credit Card. When compared with the two most popular platform-specific co-branded credit cards — Flipkart Axis Bank Credit Card and Amazon Pay ICICI Credit Card — the Swiggy HDFC Bank Credit Card looks quite attractive. Is it a good deal?
The interest rate on a personal loan varies depending on the bank and credit score, among other criteria. Here are banks offering lowest interest rate on personal loans.
Home loan eligibility is based on factors like age, qualification, income, number of dependents, spouse income, stability and continuity of your occupation, assets, and based on the value of the property proposed to be purchased.
The central bank has also asked the banks and NBFCs to provide those borrowers an option to increase Equated Monthly Instalment (EMIs) or tenure or prepay the full amount or a part of it at any point during the tenure. This move is likely to provide relief to floating-rate borrowers of home, auto, and other loans reeling under the impact of high interest rates.
Credit card issuers often offer credit card upgrade or credit limit increase option to their credit card customers. While there are many benefits which an upgraded card or a card with higher limit may offer however it comes at a cost and may have some additional risk. So how to decide if you should go for this offer.
Loan interest rates: In August, top banks in India, such as HDFC Bank, and ICICI Bank, Bank of Baroda increased their marginal cost of funds-based lending rate (MCLR) across various tenors.
Public sector lender, Canara Bank has hiked its MCLR rates across tenors by up to five basis points. Further the Repo Linked Lending Rate (RLLR) stood at 9.25 per cent with effect from August 12, 2023. Read below to know what are the new rates.
Bank of Baroda loan interest rates: The loan interest rate hike announcement of Bank of Baroda comes a day after the Reserve Bank of India maintained status quo on the repo rate. Here is a look at BoB's latest loan rates.
Home loan borrowers have been struggling with a steep hike in their EMIs due to hike by 2.5%. With three consecutive hold in repo rate in RBI MPC hopes of these borrowers has gone up to see a fall in interest rate. Will they see a fall in their EMIs soon?
MCLR is the minimum interest rate a financial institution needs to charge for a specific loan. The new rates are effective from August 7, 2023, according to the HDFC Bank website.
Premature withdrawal of bank FD or loan against FD: It may not always be a prudent idea to break off years of savings especially when the money is locked in at an attractive rate and liquidation is likely to result in a significant loss. How to decide when to withdraw your deposit and when to take a loan against it? ET Wealth online explains
ICICI Bank, Punjab National Bank, and Bank of India have revised their marginal cost-based lending rate (MCLR) on loans across tenures. The revised interest rates are effective from August 1, 2023, as per the bank websites.
The State Bank of India (SBI) has increased the marginal cost of funds-based lending rate (MCLR) by 5 basis points (bps) as of July 15, 2023. The MCLR is the lowest interest rate a bank may charge a customer for a loan.
One benefit of buying resale property is that you won't have to wait for development to be finished before moving in; instead, you will have immediate possession of the property in your preferred location.
The cost of borrowing will increase or decrease each time the RBI changes the repo rate depending if there is rate increase or decrease in the lending rate.
On certain tenures, HDFC Bank has raised the benchmark marginal cost of funds-based lending rates (MCLR). The new rates are effective from July 7, 2023, according to the HDFC Bank website.
Many banks offer gold loans with low interest rates. Before disbursing the loan, the lender validates the gold's weight and purity. Here is a comparison of banks offering the cheapest interest rates on gold loan.
Housing Development Finance Corporation (HDFC) Ltd. and HDFC Bank will become a merged entity on July 1, 2023. Here is how HDFC home loan borrowers will be impacted.
