Unsecured loans had became a no-go area for banks that burnt their fingers following the global financial crisis of 2008. However, that has not deterred India’s second largest private sector bank, HDFC Bank, from pushing such loans in a big way and
Access to higher education is easier now, with good colleges in India and foreign universities wooing students. But, parents must plan and start saving early to build a corpus for their children's higher studies.
It's not often that a property purchase is funded through a gold loan. Yet, that's exactly what the client of a South-based financial planner recently did to purchase his property worth Rs 50 lakh. The own-contribution requirement was Rs 10 lakh.
There is some good news for those looking to buy a home. With State Bank of India (SBI), ICICI Bank, HDFC Bank and Axis Bank cutting their base rates, there will be an automatic reduction in interest rates of all floating rate loans.
While taking a home or car or personal loan, people do a lot of due diligence in terms of shopping for rates on offer, prepayment penalties, etc. However, the same isn't done by many while closing the loan.