PERSONAL FINANCE


MDT/PTI 20 September 2012
SBI, the largest lender in the country is also the first to cut base rate after RBI's policy announcement and this move would be followed by other banks as well   Mumbai: Acting on Reserve Bank of India (RBI)'s cue, country's largest lender State Bank of India (SBI) announced a...

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MDT/PTI 17 September 2012
Soon after the Reserve Bank cut CRR rates by 25 bps to 4.5% in it’s the monetary policy, several bankers hinted that they may reduce lending rates in the coming days Borrowers could see better days ahead as banks are expected to cut lending rates following the Reserve Bank of India...

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MDT/PTI 17 September 2012
OBC launched RuPay ATM card and RuPay Kisan card that would help the bank reduce transaction costs   New Delhi: State-run Oriental Bank of Commerce (OBC) has launched debit cards on the indigenously designed payment gateway RuPay, reports PTI.   The move is expected to help...

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MDT/PTI 13 September 2012
The total spends made on all credit cards issued in the country as on 31 March 2012 was Rs96,000 crore and it is likely to go up to Rs1.2 lakh crore as on 31 March next year Hyderabad: SBI Cards, a joint venture between State Bank of India (SBI) and GE Capital, is targeting to add one...

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MDT/PTI 13 September 2012
Under the partnership SBI will provide post-harvest credit facilities, while StarAgri will offer warehousing and other value-added services to farmers across India Mumbai: State Bank of India (SBI) and Star Agri-warehousing & Collateral Management (StarAgri), an agri-services and...

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MDT/PTI 12 September 2012
The rate of interest has been reduced on housing loan from 11% to 10.50% up to Rs30 lakh, and above Rs30 lakh from 11.25% to 10.75%   Vijayawada: Andhra Bank has slashed its interest rates on retail loans, reports PTI quoting G Ravi Kumar, deputy general manager of the...

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Bharti AXA Life’s new plan provides guaranteed additions of up to 10% of each year’s cumulative base premium paid. Find out how it translates to returns of less than 4.5% p.a. for a 20-year policy. If IRDA really wants to bring transparency, it needs to start with this product  

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MDT/PTI 10 September 2012
Bharti Axa Life said its new plan provides guaranteed additions of up to 10% of each year's cumulative base premium paid, with life cover   Mumbai: Private insurer Bharti Axa Life on Monday launched a new traditional plan which it said offers customers guaranteed returns with life...

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Moneylife Digital Team 10 September 2012
Bank of Baroda said to offer a stimulus to sagging demand amid the ongoing slowdown, it cut its interest rates on home loans by 25 bps for existing and new borrowers   Mumbai: State-run lender Bank of Baroda (BoB) on Monday announced a 0.25% reduction in home loan rates across all...

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Moneylife Digital Team 10 September 2012
“A facility to generate member passbook, employee passbook and on-request passbook through Employees’ Portal on EPFO website has been devised,” said Abhay Ranjan, regional PF commissioner Greater convenience and up-to-date information has been introduced by the Provident Fund (PF)...

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Moneylife Digital Team 10 September 2012
HUDCO prices its home loan in competition to SBI’s   Housing and Urban Development Corporation (HUDCO) has restarted lending for home purchases by launching a competitively priced product. HUDCO will be offering home loans at a floating rate of 10.2% for loans up to Rs25 lakh, its...

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Moneylife Digital Team 10 September 2012
IDBI Bank becomes the first bank to launch floating rate deposit scheme   State-run IDBI Bank became the first lender to come out with a floating rate deposit product after the Reserve Bank of India (RBI) nudged banks in July to switch to such mode of deposits.     “Our Bank’s...

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MDT/PTI 08 September 2012
Kotak Mahindra, the IRDA order said, violated the guidelines on group insurance policies by not paying the small value death claims directly to the beneficiary. The insurance company routed the claims through the NGO   New Delhi: The Insurance Regulatory and Development Authority...

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AEGON Religare Term Insurance Plan is a new product with inbuilt accidental death cover and optional double death benefit at an additional premium. Does the insured really need both these features? Understand pros and cons   AEGON Religare Life Insurance (ARLI) launched a term plan...

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Moneylife Digital Team 06 September 2012
IDBI has also joined the race as banks have started reducing interest rates after the finance ministry nudged them to do so IDBI today announced reduction in both fixed and floating interest rates for home loans. These rates will come into effect from 7 September 2012. According to the...

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MDT/PTI 06 September 2012
The insurance plan from AEGOn Religare also provides life cover up to age of 75 years besides giving an option to add three riders like critical illness, woman care, total and permanent disability rider besides tax benefits   Mumbai: Private insurer AEGON Religare Life Insurance...

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ICICI Lombard Complete, as the name suggests, is an all-embracing regular mediclaim product which can be considered as senior citizen mediclaim too due to no restriction on entry and exit age. It does get pricey for elders and for covering maternity and OPD expenses ICICI Lombard General...

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Moneylife Digital Team 06 September 2012
The 'Happy Ending Home Loan' from Axis Bank offers to waive off last 12 EMIs for tenure of 20 years, but no discounted interest rates are applicable for this scheme   Mumbai: Axis Bank, the third largest private sector lender in India, has launched a home loan product with a built-in...

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Moneylife Digital Team 06 September 2012
 New products, regulations, features and options, interpreted from your perspective Apollo Munich Optima Senior:  Competitive option for seniors Apollo Munich Optima Senior is a welcome entrant in the senior citizen mediclaim segment. The highlights are: no-claims-based loading,...

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MDT/PTI 06 September 2012
Easy Gold' from Federal Bank offers a debit card with an overdraft facility using which customers can withdraw money or use loan amount through any ATM or PoS terminals   Mumbai: Federal Bank, which has seen high growth in its gold loan book in recent months, has introduced a new...

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