November 29, 2010 23:43 by Admin
Over the last year or so, teaser home loans have been launched and re-launched with enough fanfare by a few banks to attract customers with lower interest rates that are fixed in the initial 2-3 years of the home loan. At the end of this period, the applicable floating rate of interest as linked to the base rate of the bank will kick in and be charged from the borrower. Let us look at why these products are under fire and if there really is a fundamental issue with the offering. [More]
July 6, 2010 22:53 by Admin
Most of us do not really consider headlines associated with monetary policies of The Reserve Bank of India (read increase or decrease in interest rates) as being of any direct consequence to us but the underlying trends of these moves can have an impact on our personal finances.
The Reserve Bank of... [More]
June 30, 2010 00:40 by Admin
Under a Reserve Bank of India (RBI) mandate, all banks in India will move to a new 'Base Rate' framework. Each bank will need to establish and publish its Base lending rate, which will be the rate on which the bank will charge a risk related premium depending on the nature of loan and the credit worthiness of the borrower to arrive at the final lending rate. This new framework is expected to bring about a higher level of transparency to make it easier for individual customers to compare lending rates across banks. [More]