The home loan and personal loan cannot be clubbed since both are different products. You can ask your home loan lender to give you a top-up loan on the security of the house and use that to prepay your personal loan. You will be eligible for a top-up loan only if your income is sufficient [...]
Mahindra & Mahindra Ltd. (M&M), India’s leading SUV manufacturer signed a Preferred Financier agreement with Bank of India (BoI), one of India’s largest public sector banks with 106 years of banking history. Under the aegis of this tie-up, M&M customers will be able to avail of Car loan services from any branch of BoI across [...]
Prospective home loan seekers will now have to shell out 25% to 30% of the value of a property as against 20% until now with the Reserve Bank of India asking banks to exclude stamp duty, registration fee and other levies from total cost. Effectively, this means that the ‘loan to value’ ratio has come [...]
The State Bank of India (SBI) is worried over the rising trend in Odisha of people taking loans and showing no interest to pay back. Though the problem exists in other states too, Odisha seems headed to top the trend. Pratip Chaudhuri, SBI chairman, who came here to address the two-day conclave of the bank’s [...]
The banking sector, reeling under a rise in non-performing assets (NPAs) from the corporate sector, is seeking to hedge loans to individual borrowers. Increasingly, borrowers are being asked to buy insurance policies to cover their loans. “Covers with personal loans and overdraft facilities have gained traction in recent times. Both public and private sector banks [...]
Ever wondered being denied a loan due to poor phone bill repayment history? This may soon be true for postpaid connection users. The next time you delay or not pay your phone bill you may have to deal with more than just a call from your service provider reminding you about the dues. It may [...]
Two global private equity majors-Carlyle Group and Warburg Pincus-offloaded substantial chunks of their holdings in two of India’s leading financial services firms – HDFC and Kotak Mahindra Bank, respectively – through block deals on Wednesday, jointly worth about Rs 2,200 crore ($440 million). CMP Asia, a Carlyle Group fund, sold 2 crore shares (about 1.4%) [...]
Kotak Mahindra Bank has acquired the non-performing portfolio of Barclays Bank’s credit card business in India. The deal, experts said, gives momentum to the sale of stressed loan market in the country which has been having a dry run following stringent regulatory norms introduced in 2007. Last month, Standard Chartered Bank bought the performing portfolio [...]
A two-day ‘Basant Rinn Utsav’, organized by the SBI (State Bank India), began at SBI’s main branch on Monday (30-01-2012). The event was inaugurated by DGP Abhayanand. The objective of the event is to provide hassle-free credit at affordable rate for home and car loans. The event is also beneficial for customers who want information [...]
When we swipe our card at shopping malls and restaurants or use it at the ATM to withdraw cash and pay utility bills, we are under the constant threat of our cards being counterfeited. Besides, if you lose your card, someone can misuse the time lag, between your losing and blocking the card, to swipe [...]
