Don’t be lulled by the current low rate on home loans

State Bank of India (SBI) has announced an attractive housing loan scheme that charges you 8% per annum. While other banks say it’s a gimmick, they have also started announcing offers to match SBI’s scheme. So, the question is: Have we entered a golden period of low interest rates? “Those who have been heaving a sigh of relief over the...

Grand weddings, parental pressure and the availability of easy loans have wrecked several promising young lives. They burnt up lakhs of rupees to make the family look good for a few days, only to face a future of financial trauma and depression. Nutan Lugani, a committed consumer activist, currently in charge of Disha, ICICI Bank’s counselling centre, describes how borrowing to splurge on...

Shalini Amarnani explains how to avoid such a fate

Though widely used and immensely convenient, credit cards can become your worst enemies if you are careless. One negative aspect of using credit cards, instead of cash, is that you don’t feel you’re spending real money. The pleasant feelings you experience when you purchase an item are disconnected from the unpleasant or painful feelings of...