EMI

EV major Tesla India on Tuesday said it has launched various initiatives, including an EMI scheme, to lift weak sales in the country. To encourage customers switching from the petrol and diesel cars to electric, Tesla said it is offering Rs 3 lakh exchange incentive. Besides, customers can now purchase the Model Y at a monthly installment starting from Rs 49,000, with a down payment of just Rs 6 lakh significantly lowering the barrier to entry for premium electric vehicles, it added. Tesla India commenced deliveries of Model Y in September last year. As per the EV sales data shared by FADA, Tesla India has managed to sell 225 units last year. Overall electric passenger vehicle retail sales rose to 1,76,817 units last year, up 77 per cent as compared with 99,875 units in 2024 calendar year. By switching to Tesla Model Y the customers can achieve savings of up to Rs 20,000 per month through reduced fuel and maintenance costs, underscoring the long-term cost benefits and lower total

A husband cannot assert exclusive ownership over a property jointly acquired and registered in the name of both spouses, solely on the basis that he paid the EMIs, the Delhi High Court has held. A bench of justices Anil Kshetarpal and Harish Vaidyanathan Shankar made the observation on September 22. "Once the property stands in the joint names of the spouses, the husband cannot be permitted to claim exclusive ownership merely on the ground that he alone provided the purchase consideration," the court said. It said the husband's claim would contravene Section 4 of the Prohibition of Benami Property Transactions Act, which bars a person, claiming to be the real owner of the property, from instituting any suit, claim or action to enforce rights against any other person in whose name the property stands. In her petition before the high court, the wife also claimed that 50 per cent of the surplus amount belonged to her, asserting that it formed part of her stridhan (a woman's absolute a

Struggling with home loan EMIs? In the early years, most of your payments go into interest, not principal — making your loan feel endless. But there’s a smart repayment hack that can cut a 25-year

The RBI recently surprised the markets with a 50-basis-point cut in the repo rate, bringing it down to 5.5%.

A personal loan is a quick and easy way of getting some money to tide over a cash crunch

A 30-day delay can cause a substantial drop in credit score, lowering your score by 90-100 points and even more

The move comes after Reserve Bank of India reduced the policy repo rate by 25 bps on Friday

The exact gain for each home loan borrower will depend on their current principal outstanding and interest rate

Blinkit's EMI feature aims to boost customer loyalty by providing flexible payment options for higher-value orders

Compare the EMI price with the regular cash price to ensure you're not overpaying on your no-cost EMI

The National Payments Corporation of India (NPCI) has announced new features coming to the Unified Payments Interface (UPI) platform. These features, which will be available by May 31, 2024, will mak

Banks offer a range of interest rates, starting as low as 8.45 per cent from UCO Bank and going up to 14.85 per cent at City Union Bank.

In 2024, experts suggest that home affordability, as well as sales, are expected to improve further on the back of cooling inflation and the likelihood of lower interest rates

The contributing factors include narrowing the gap between rents and EMIs, increase in affordability and security of owning a home

Our pick this week explains when you must say no to your relationship manager and what the best purifiers do

A go-to guide to on what to look for in the fine print of deals being offered

Experts advise close examination of no-cost EMI offers to uncover any concealed fees or charges

Diwali's around the corner, and you're eyeing that snazzy new gadget, right? And then those magical words catch your eye: "No Cost EMI." But wait, is it really zero interest? >

The Reserve Bank on Friday asked banks to provide fixed interest rate option to individual borrowers and directed the lenders to levy only reasonable penalty charges in case of default in EMI payments. The two decisions are expected to provide a relief to the borrowers amid rising interest rates and most of the retail loans being on floating rates now. In a directive to banks and NBFCs, including housing finance companies, the Reserve Bank of India (RBI) said that several consumer grievances have been received in relation to elongation of loan tenor or increase in EMI amount with regard to EMI-based floating rate personal loans, without proper communication or consent of the borrowers. Interest rates have risen since May last year as the central bank hiked the repo rate to tame high inflation. As a result of 250 basis points increase in the repo rate from May 2022 till February this year, a large number of borrowers are facing negative amortisation, wherein the Equated Monthly ...

The RBI on Friday directed banks to allow individual borrowers paying loans through EMIs to opt for fixed interest rate system or extension of loan tenor, a move aimed at preventing loanees from falling into the trap of negative amortisation, in wake of rising interest rate. The interest rates have moved northward since May 2022 after the central bank started raising the benchmark lending rate (repo) in a bid to check inflation following the outbreak of the Russia-Ukraine war. As a result of 250 basis points increase in the repo rate, a large number of borrowers faced negative amortisation, wherein the Equated Monthly Instalment (EMI) works out to be less than the interest obligation, resulting in persistent increase of the principal amount. RBI said that at the time of sanction of EMI-based floating rate personal loans, banks and NBFCs should take into account the repayment capacity of borrowers to ensure that adequate headroom is available for elongation of tenor and/ or increase