Editorial Staff

Borrowing money can help you to smooth out the gaps between your income and expenses. It will help you to pay for larger purchases to enjoy the benefits straight away instead of waiting for your saving money to get accumulated. Before you borrow money, its necessary that you learn how to pay the amount or else you will be in trouble. In this article you will learn how to … [Read more...] about How to Borrow Money from a Bank

With the directives of RBI, banks in India have introduced a new concept called base rate. Under this new system banks are free to use any method in calculating their base rate provided it should be in consistent as required by RBI. Base rate is the interest rate that has been calculated by the bank on the basis of their cost of deposits and refers to the minimum interest … [Read more...] about Base rate – How it impacts your loan

Major source of revenue for a blogger in India comes from advertisement, affiliate sales and consulting services related to blogging. Incomes generated from all these services are chargeable to income tax based on the slab rates as applicable to a blogger for the financial year in which its generated. A person can make his career in blogging by either working somewhere as a … [Read more...] about Income tax Guide for Indian Bloggers

CTC stands for cost to company. It is always important for a job seeker to understand the difference between CTC and take home salary. Cost to company ot CTC means the total cost that company will incur by employing you. It includes all benefit that company will provide whether monetary or non monetary. To attract candidates, these companies will always add all components to … [Read more...] about Understanding different components of your CTC

Cheque is the most common way used for bank payments or to exchange funds between two peoples. It has flexibility in making payments to someone at a future date. Writing a Cheque will be easy as long as you know what goes there. In this article we will be discussing 5 points which you have to keep in mind while writing a Cheque. Name of the payee - To Whom Cheque is … [Read more...] about 5 important things to remember while filling out a cheque

With access to internet banking, you can do lots of things like transferring funds, paying bills, recharging your mobile phone, viewing balance in your account, stopping payment on a cheque etc. You can do almost everything over internet without visiting your bank’s branch office. All most all banks can provide you internet banking facility. It’s up to you to avail the … [Read more...] about 3 things to consider while choosing for internet banking

Building your own home is special, isn’t it? To get you, your dream home, banks are offering different home loan facilities to lay the foundation. However, these banks have different mechanism to find out your eligibility before processing your application. It’s always nice to go for things with your eyes wide open. Here are few tips to help you in enhancing your home loan … [Read more...] about How to enhance your home loan eligibility

As a guarantor, you promise the bank that you will pay your friend’s debt. Banks are generally asked for a guarantor when they are not convinced with the borrower’s asset. In case, the borrower did not repay the loan amount then bank will first sell the asset that kept as a security with them to recover the money. After such set off, if any balance loan amount left out then … [Read more...] about The risk of being a guarantor for your friends debt

EMI stands for Equated Monthly Installments. When you take a loan from bank or financial institutions, you are required to pay fixed monthly payments or EMI calculated based on the amount of loan and contracted period. The best part of fixing Equated Monthly Installments or EMI at the time of taking loan is that the borrower will know precisely how much money they need to … [Read more...] about How EMI Is Calculated For Your Loan

Till date RBI has not stipulated any minimum balance requirements that need to be maintained by a customer in his saving or current account. Banks are prescribing these requirements based on the cost involved in maintaining accounts. If you do not maintain your minimum balance then bank will levy specific charges for it. In private banks these charges are higher compare to … [Read more...] about Understanding Minimum Balance Requirements for saving accounts