Mar
5
Prepayment penalties imposed on banks when people try to clear off their loans early – no resolution
March 5, 2010 | Leave a Comment
If you have taken a home loan, then you wonder at the huge amount of loan outstanding, as well as the number of EMI’s that have to be made (these EMI’s could be large sums of money that would go over many years, possibly over a decade or more); but it is worth it if [...]
Sep
28
Facts about down payment for loans
September 28, 2009 | Leave a Comment
You go for buying a house, and are not fully conversant with what all this means. There is a nice house that you are seeing in a metro, and it costs around Rs. 40 lakhs for you to buy this house. A lot of people do not have the money to buy such a house [...]
Sep
28
Personal Finance – Loan insurance
September 28, 2009 | Leave a Comment
Even though the trend of loan insurance is gaining in importance nowadays, there are a large number of people who are not aware of what loan insurance is, and why they should take loan insurance when they take a loan. So, what is loan insurance ?
Loan insurance is a safety valve you have when you [...]
Aug
19
Individual finances: How to manage when loans are killing you
August 19, 2009 | Leave a Comment
I read an article that took a situation where a person was in real trouble financially, and what the person can do in such a situation that could help. The situation was one that many of us can relate to – in times of good money and a good job, your finances and projections for [...]
Aug
9
Bank charged penalty for charging older customer more than newer customers
August 9, 2009 | Leave a Comment
It is an established business fact that when banks give loans to their customers, they normally treat newer customers more attractively than they treat older customers. The terms and conditions of the loan specify for floating rate loan that banks can charge customers more (either by increasing the EMI amount, or the loan duration) if [...]
May
16
HDFC Bank fined for ‘extra charges’
May 16, 2009 | Leave a Comment
Normally, dealing with banks is a hot and cold affair. When you have dealings with ATM’s and with over the counter in branches, things are fine normally fine. But when there is something that is out of the ordinary, that is when people have more complaints. This could be when there are some delays in [...]
Jan
4
Consumer forum fines ICICI bank
January 4, 2009 | Leave a Comment
For some time now, consumer forums have been ruling on unfair practices carried out by banks, with ICICI Bank being one of the banks having been penalized in the past for various actions that have gone against consumer practices. In this case, a forum ruled against the bank after it was disclosed that the bank [...]
Jun
29
Higher home loan rates – what can you do ?
June 29, 2008 | Leave a Comment
The rise of interest rates has been a steady factor for the last couple of years. There was a time just a few years back when it seemed that interest rates would reach historically low levels, and banks had started offering housing interest rates at levels as low as 7.25%. For people looking to buy [...]
Mar
2
Buyers must be told about loan rate changes
March 2, 2008 | Leave a Comment
Financial matters, especially the intricacies involved with loans, rate changes, floating vs. fixed, etc can be very confusing to most people; and it seems that banks play on that. People had taken loans induced by the cheap rates that were being offered, and since floating seemed all the more attractive, many floating rates were taken [...]
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