LOANS


New and used cars have different sets of issues for insurance and financing. Buyers and sellers need to know how to safeguard themselves for insurance. Get to know the financing options for new and used cars and the parameters to consider   Insurance can be tricky for buyers and...

Read More



Moneylife Digital Team 14 April 2015
ICICI Bank, India's largest private sector lender, said it cut interest rates on home loan by 25 basis points or by 0.25% for all its existing and new borrowers.   "With this announcement, women as well as applicants from weaker sections will get home loans at 9.85%. The rate will be...

Read More



If the RBI raises interest rates, your home loan rate goes up. But when RBI cuts rates, your rates don’t go down. Why?   Whenever RBI announces an increase in its monetary policy rates, housing loan-providers, such as banks and finance companies, are quick to hike interest rates....

Read More



Moneylife Digital Team 11 February 2015
Remember Credit Sudhaar, the firm that used to charge money for improving one’s credit score? It is now claiming to provide ‘free credit score’ that too when neither CIBIL nor Experian India nor Equifax gives free credit report    Credit Sudhaar Services Private Ltd, the so-called...

Read More



Moneylife Digital Team 12 January 2015
Seven years after he settled a loan, a borrower is being subjected to numerous calls, notices and even arrest warrant. The only mistake, he committed was not to collect the NOC and account statement from the lender after his settlement    Mumbai-based trader Ramnik Patel (name...

Read More



Moneylife Digital Team 23 December 2014
With the new product, a customer can avail a home loan at an interest rate that remains fixed for a duration of 2 years to 10 years and thereafter the loan switches automatically to HDFC's adjustable rate home loan (ARHL)   Mortgage lender HDFC launched a fixed interest rate home loan...

Read More



Moneylife Digital Team 23 January 2014
The typical US worker near retirement has only two years of replacement income Lessons learnt from the United States, and elsewhere, provide us with valuable insights on personal money management. Yet, often, many ignore such lessons and, worse, repeat mistakes. A recent survey by...

Read More



Moneylife Digital Team 19 December 2013
SBI's revised EMI for loan tenure of 30 years will be Rs885 for women and Rs889 for others against the prevailing EMI of Rs900 per lakh State Bank of India (SBI), the country's largest lender on Thursday announced a separate interest rate structure for woman home loan borrowers. SBI also...

Read More



Moneylife Digital Team 06 November 2013
With SBI, the country's largest bank, increasing its base rate, other state-run lenders may also go in for a hike in lending rates Taking a cue from HDFC Bank, the country's largest lender State Bank of India (SBI) has hiked its base rate by 20 basis points or 0.2% to 10% from 9.8%. The...

Read More



Moneylife Digital Team 09 October 2013
SBI is the fourth bank after PNB, OBC and IDBI Bank to offer special interest rates on loans for buying automobiles and consumer durables such as televisions, air-conditioners and refrigerators during the festive season State Bank of India (SBI), the country's largest lender on Wednesday...

Read More



Moneylife Digital Team 19 September 2013
SBI has increased deposit rates to 7.5% from 6.5% for deposits below Rs1 crore for maturity between seven to 179 days and 211 days to less than a year State Bank of India (SBI), the country's largest lender, has hiked its base rate by 10 basis points (bps) to 9.8% from 9.7% and also...

Read More



Debt doctors play a useful role as long as they don’t scare the borrower into signing up and claim a ‘nexus’ with CIBIL to be able to‘fix’ credit records to remove the defaulter tag A retired banker told us that Indians do not really want to default on loan repayments. But they are...

Read More



Moneylife Digital Team 03 September 2013
In its bid to arrest the free-falling rupee, the Reserve Bank of India (RBI) has brought down the amount of dollars one can take out of the country, in a single year, from $200,000 to $75,000. “Education loans and remittances related to overseas studies are a part of the $75,000 limit, but if...

Read More



Moneylife Digital Team 07 August 2013
HDFC Bank becomes the second lender after YES Bank to hike its lending rate to 9.8% after the RBI's status-quo over monetary policy last week HDFC Bank, the country’s second largest private sector lender raised its benchmark lending rate by 20 basis points to 9.80%. This would auto,...

Read More



Moneylife Foundation’s Insurance Helpline has solved three cases of life insurance sold with a bait of fraudulent “interest-free loans”. In all the cases, Reliance Life’s corporate agent AB Capital was involved Moneylife Foundation’s Insurance Helpline has helped three persons to get...

Read More



Moneylife Digital Team 09 July 2013
Concerned over rising bad loans, bankers have started publishing names and photos of guarantors of defaulted loans as well in newspapers. However, there is no clarification on the selection criteria of either the defaulter or guarantor Close on the heels of banks publishing photos of...

Read More



Moneylife Foundation’s Insurance Helpline has received a second  case of fraudulent “interest-free loan” offer from AB Capital. This time, the victim took a loan of Rs2 lakh to pay the high insurance premium, lured by the carrot of a fat, interest free loan of Rs10 lakh On 4th July...

Read More



Moneylife Digital Team 14 June 2013
Credit Sudhaar, a non-specified user entity is sending mails to people whose loans have been rejected. It not only claims to enhance and protect but also 'restore' credit of individuals for a yearly fee of Rs16,000. However, the firm has no answer about how it could do the job Is Credit...

Read More



Who checks the quality of technology or data-matching algorithms used by CIBIL or the other credit bureaus? What is the redress process, when it fails? At Moneylife’s ‘Open House’ with RBI deputy governor Dr KC Chakrabarty on 3rd June, an angry customer stood up to complain about Credit...

Read More



Moneylife Digital Team 06 June 2013
A consumer was denied home loan because CIBIL mixed up his credit history or record with someone else. Another was denied a loan due to gender mismatch. This could happen to you as well Moneylife and Moneylife Foundation have been continuously raising question on the quality of credit...

Read More

Free Helpline
Legal Credit
Feedback