Today, credit cards have become an integral part of our lives, almost acting like a lifestyle statement. One of the key reasons for the popularity of credit cards is the convenience that they provide – they come to our rescue in times of cash crunch by providing short term loans with a 40 to 50 […]
As per data by the RBI, the growth rate in bank deposits made in the two week period ending 2nd September marked the highest level in the past 10 years. This growth has been aided by the payments from the 7th Pay Commission and credit-to-debit ratio has increased to 14%. As of fortnight ending on […]
One of the most crucial steps towards beginning with financial planning is to sketch your financial goals. These goals essentially help you decide which investment options to go for, mutual funds, FDs, savings accounts, among others. However, there are multiple opinions surrounding the use of accounts and how many accounts are ideal to maintain in […]
Buying a home often tops the list when it comes to the aspirations of an average Indian. After all, who wants to keep paying rent all their life? But the skyrocketing property prices in cities, as well as small towns, make home-buying a pricey affair for the mid-income professionals. To assist them, banks and NBFC have […]
With increasing competition and growing cost of education, applying for education loans has become commonplace these days. A computer engineering degree from IIT Bombay, it will cost you about Rs. 5.5 lakhs. At Symbiosis, a private university, a degree in design costs about Rs. 10 lakhs and one in law around Rs.11 lakhs. Higher studies, […]
Public sector lender Punjab National Bank (PNB) has decided to increase the fine on current account holders who fail to maintain their quarterly average balance (QAB) from 1st October 2016. According to the revised tariff, the non-maintenance QAB charges will be applied on PNB Smart Banking current accounts and current general accounts. Platinum account holders […]
Of the 10 provisionally licensed banks, three are all set to begin operations in a few months. The Reserve Bank of India has issued final license to Capital Local Area Bank, Suryodaya and the newly listed Equitas. According to the RBI, the licensees have put in place the necessary systems and have met the regulatory […]
For most individuals, savings accounts mark the first association with any bank. Till a few years back, you could open a savings account at a bank only if your application was endorsed by a current customer. Today’s banks are more open to welcome customers and assist them in opening a savings account with minimal documentation. […]
The rapid strides that technology is taking often come with its own share of positives and unique challenges. With e-commerce and online retail options aplenty, life has become easier for us as we can make several purchases just by swiping our credit or debit cards. However, using your credit cards for purchases at websites of […]
Savings account can be defined as an interest bearing deposit account held by individuals for personal usage which is maintained by a bank that has retail operations. Using a savings account individuals can set aside a portion of their monthly funds and can earn interest on their deposits. Savings account features various limits and charges on […]
