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Book your railway ticket online from your mobile phone
Book your railway ticket online from your mobile phone   No Need to Carry Ticket Print-Out, Mere Display of Message on Mobile is sufficient during  Travel To bring further convenience to the rail users, Indian Railways through Indian Railway Catering & Tourism Corporation (IRCTC), a Public Sector Undertaking under the Ministry of Railway, has been offering the service of booking e-ticket over the mobile phone. After initial registration and downloading of suitable software on the mobile handse...
Impact on floating rate home loan, EMI and tenure on change in interest rates:
Impact on floating rate home loan, EMI and tenure on change in interest rates:  The interest rates have been very volatile in the last few years.  A couple of years back, the rates were going down. And they have been moving up for some years now. What effect does a rate change have on a floating rate home loan ? Does it change the amount of the EMI? Does it alter the tenure of the repayment period? Let’s find try to find answers to the above questions. With inflation rising to over 10%, the interest ...
Fixed or Floating Rate Housing Loans – which one is better
Fixed or Floating Rate Housing Loans – which one is better  “Home loan” without doubt the biggest loan you have ever taken in your life. Home loan is long term commitment in which the borrower has to pay monthly instalments for many years. As such the decision for choosing type of interest rate is very critical. There are two options for borrowers fixed interest rate or floating interest rate. Whether to choose a fixed rate home loan, which is easy to budget and has an element of certainty wit...
Be careful of Phishing Scams
Phishing is a way of attempting to acquire information such as usernames, passwords, and credit card details by unscrupulous people using electronic communications such as e-mail, SMS etc. Phishing scams are just another attempt to get valuable information. Scammers send a mass email to every address they can find. Typically the message will appear to come from a bank, financial institution or even Government authorities. The email states that you should update your information for one reason or another, and they usuall...
Good News to Home Loan Borrowers - No need to pay prepayment penalty
Good News to Home Loan Borrowers - No need to pay prepayment penalty The announcement of National Housing Board on 19th Oct, 2011 will bring a relief to the home loan borrowers. The decisions of NHB are as follows: a) NHB (National Housing Board) has barred the housing finance companies (HFCs) from charging prepayment penalty on floating rate home loans. In case of the fixed rate home loan, the prepayment penalty can be charged. However, in this case, if the borrower is paying from his own sources, there will be no prep...
NRIs are not eligible get the benefit of recent Savings Bank interest rate deregulation.
NRIs are not eligible get the benefit of recent Savings Bank interest rate deregulation. All Savings Bank Account holders including NRIs are under the impression that, they are all eligible to get the benefit of the recent Savings Bank account interest deregulation by RBI. But this thinking is wrong. As per RBI Circular , “Interest rate on Non-Resident (External) Accounts Scheme and Ordinary Non-Resident Deposit under savings account, which has been prescribed at 4 per cent per annum at present, will continue to b...
Beware of Bank Safe Deposit Boxes (July 2011)
Most of the Banks offer their customers \\\\\\\\"Safe Deposit Boxes\\\\\\\\" service at designated branches for a quarterly, half yearly or annual rental. The rentals charged will be vary from Rs 500-20,000 depending on the size of the safe deposit box and the city. Customers can arrange to store a box containing their valuables and important papers (such as jewelry, house deeds, investment certificates and other valuable documents) in the bank’s \\\\\\\\"strong room\\\\\\\\" or other secure ar...

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