Page 4 - Emi

EMIs to rise as RBI hikes repo rate by 40 bps; raises CRR by 50 bps

Home, auto and other loan EMIs are likely to increase after the Reserve Bank of India (RBI) hiked its key interest rate by 40 bps in a surprise move on Wednesday in an effort to tame inflation

SBI hikes lending rate by 0.1% across all tenures; EMIs to go up

The lending rate revision by SBI is likely to be followed by other banks in the days to come

SC asks banks not to impose penalty on EMI default by Amrapali home buyers

It said the liability of home buyers would come into effect from the date when possession of the flat is handed over, and banks can take action if they do not discharge their liability

Delhi govt likely to roll out EMI on electric 2-wheelers for employees

In view of encouraging large-scale adoption of electric vehicles in Delhi to reduce air pollution, the city government plans to provide e-two-wheelers to its employees on easy monthly installments

Suffered income loss? Opt for an interest-only home loan facility

Remember the reprieve you earn from paying full EMI comes at a price

Homebuyers get respite as Delhi HC restrains coercive action on EMIs

The Delhi High Court has restrained banks and housing finance companies from taking any coercive action to recover EMIs from homebuyers over incomplete projects on a plea by a group of homebuyers.

Shadow banks brace for headwinds as tighter dud-loan norms start to bite

Most MSMEs have seen a delayed payment cycle, and spend much time and resources on the collection of dues owing to the pandemic

Axis Bank to waive 12 EMIs on select home loans under festive offer

Private sector lender Axis Bank on Tuesday announced waiver of 12 EMIs on select home loan products, and discounts on various online purchases as part of its festival offer. Axis Bank is offering waivers of 12 EMIs on select home loan products and providing on-road finance without any processing fee for two-wheeler customers, it said in a release. For business owners, it will offer several benefits on term loans, equipment loan and commercial vehicle finance. Announcing the launch of 'Dil se Open Celebrations : kyunki Diwali roz roz nahi aati', the bank said it will offer deals and discounts on shopping in restaurants and other retail loan products on purchases made through Axis Bank debit and credit cards. Customers will be offered up to 20 per cent discount on purchases from select 2,500 local merchants across 50 cities. The bank customers will get discounts up to 20 percent on shopping from these stores. "This festive season we have partnered with esteemed brands and also the l

How new auto-debit rules that require customer consent will impact you

All kinds of recurring or auto-debit payments now require the customer's consent before they are cleared, mandate RBI's new rules. What does this mean and how will it impact you?

Prevent auto-debit failures by registering once again, say experts

If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c

NPAs set to see a sharp jump this year amid Covid-19 pandemic: Experts

Of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, would turn into NPAs

Facing credit card woes amid pandemic? Look for lower-cost credit options

Defaulting on card dues could restrict access to credit in future

Are you eligible for refund under interest waiver scheme? Check new rules

The government clarified that borrowers will be entitled to get a refund on an aggregate sum of Rs 2 crore borrowed from the banking system,

The actual cost behind 'no-cost EMI': Popular shopping option decoded

What is zero-cost EMI? While we shop online on Flipkart and Amazon, we come across an option of no-cost EMI. Retailers offer such schemes in festival season, especially on products like mobiles, electronic appliances. But, does no-cost EMI really mean that there is no interest involved? In this video, we will decode the term and explain in detail about this offer and things you should keep in mind while shopping online.

Loan moratorium case: SC grants Centre, RBI a week to file affidavits

The development comes as the Centre is set to formulate a scheme to waive compound interest for small borrowers during the six-month moratorium period

Govt to waive compound interest during moratorium for some loans: Report

Report says government's decision will benefit those clearing their dues on a variety of loans between March and August

Man arrested for duping over 2500 people by offering phone on EMI

A 32-year-old man was arrested from Ghaziabad for allegedly duping over 2,500 people on the pretext of getting them mobile phones on EMI through fake websites

SC adjourns hearing on loan moratorium as RBI seeks time to file affidavit

The apex court ordered that all decisions taken by the RBI, the Government of India or the banks be placed before it for consideration

Waiver of EMI interest against basic canon of finance: Centre to SC

Waiver of interest on deferred EMIs during the moratorium period would be against the basic canons of finance and unfair to those who repaid loans as per schedule, the Centre told the Supreme Court

Are you in financial trouble? Ask your bank to restructure your loan asap

Take your repayment capability and the extra interest cost involved when choosing a restructuring option