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LOAN FROM PPF ACCOUNT
PPF to fetch 7.1%, NSC 6.8% as govt slashes small savings schemes interest rates
Rates of these schemes have been slashed by between 70 bps and 140 bps for the Apr-June quarter.
PSU banks announce loan EMI moratorium for customers via tweets
Lenders like Punjab and Sindh Bank, PNB, Canara Bank have announced EMI loan ...
Confusion prevails among borrowers over three-month moratorium as many get EMI reminders
Many borrowers, credit cardholders and mutual fund i...
Moratorium on loan EMIs, credit card dues will have an interest cost
People have a lot of misconceptions about what has been promised. Keep these things in mind when you make financial decisions basis the announcements in the relief package.
RBI's loan EMI moratorium proposal for borrowers: Here's all you need to know
Sunil Mehta, Chief Executive, Indian Banks’ Association (IBA)answers some common questions regarding the 3-month moratorium on loans announced by the Reserve Bank of India
These banks have cut interest rates on loans
For instance, Bank of Baroda announced that it has reduced its repo-linked lending rate (BRLLR) by 75 bps with effect from March 28, 2020.
My PPF account will mature on March 31. Where can I invest this money for the short term?
There are few choices such as Post Office Time Deposits or debt mutual funds other than bank FDs. A one-year time deposit at the post office will earn 6.9%, calculated quarterly and paid annually. The minimum lock-in is 6 months.
No pain, shame if you miss EMIs till May 31
Those who choose to take a three-month break from repayments will also not damage their track record with credit information bureaus. RBI governor Shaktikanta Das on Thursday directed banks to ensure that they do not report delayed payments as a default.
Repayment moratorium covers all loans, including credit card dues: RBI
Issuing the detailed instructions on the moratorium announcement later in the day, the RBI said, "The instalments include payments falling due from March 1 to May 31 such as the principal and/or interest components; bullet repayments; equated monthly instalments; and credit card dues."
What 3 month moratorium on repayment of term loans means for borrowers
RBI has allowed lending institutions to offer a moratorium on loan repayments.
Coronavirus may lead to increase in bad loans: CARE
Until the last quarter, the impression was that barring a few banks, SCBs had generally turned the corner on non-performing assets, CARE said.
Coronavirus impact: These banks are offering credit line with softer terms to retail borrowers
Under Canara Bank's new scheme MSMEs, retail borrowers are eligible to avail from 10-35% of their existing working capital or loan limit depending upon category of borrowers on softer terms up to 30.06.2020. No additional security is required for the said facility.
FAQ on stimulus checks, unemployment and the Coronavirus bill
The Senate unanimously passed a $2 trillion economic rescue plan Wednesday that will offer assistance to tens of millions of American households affected by the coronavirus. Here are the answers to common questions about what’s in the bill.
No new business, little profit: Banks face the squeeze
Experts say banks will see a negative operating leverage due to less revenue.
Tax-saving investments for FY 2019-20 allowed till June 30, 2020
According to chartered accountants, this means that individuals can complete their tax-saving exercise for the ongoing financial year 2019-20 by June 30, 2020.
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