Do you find yourself in a situation where your account balance is zero? Don’t worry—you can still access funds from your account. Let’s explore this convenient feature that banks offer to their customers: the overdraft facility. Banks allow you to withdraw funds as needed, even if your account balance is zero. This is known as … Read more
Are you depositing more money into your account? Understanding the maximum deposit limit and the potential consequences of exceeding it is crucial. This knowledge will empower you to manage your finances effectively. Did you know that the income tax department may send you notices if you deposit an amount beyond the prescribed limit? Let’s take … Read more
A new cash deposit facility will soon be available, eliminating the need for a debit card or account number when depositing money in cash deposit machines at ATM centers. RBI Deputy Governor T Ravi Shankar announced this new service, called UPI Interoperable Cash Deposit (UPI-ICD), at the Global FinTech Fest on Thursday. The National Payments … Read more
Closing a credit card: With the increasing use of credit cards and the attractive offers from banks, many individuals may find themselves needing to close their credit cards. This could be due to difficulties paying bills on time, high annual fees, or a desire to reduce the number of credit cards they have. Methods for … Read more
In times of emergency, you may need to take a loan, which is a significant financial challenge for many middle-class families. It’s crucial to responsibly pay off the borrowed debt to prevent it from becoming overwhelming and negatively impacting our lives and those of our family members. Tragically, we often hear about people resorting to … Read more
Agricultural loans are essential for farmers, and around 75 percent of the loans from rural banks are for agriculture. Farmers can benefit from comprehensive information when taking crop loans. Crop Loan Interest: Interest on crop loans is usually lower, around 7 percent, compared to other types of loans. Crop Loan Renewal: Farmers can benefit from … Read more
Home loans are a standard financial product, but banks’ interest rates vary significantly. If a high interest rate burdens you, you can transfer your home loan to another bank to reduce your interest payments. Transferring a home loan involves gathering certain documents and meeting specific eligibility criteria. It’s important to note that not all banks … Read more
Are you considering buying a new car and thinking about getting a loan from a bank? Opting for a low-interest rate loan can decrease the interest burden. What would be the monthly EMI if you borrow Rs. 5 lakh for a car? Also, which banks offer low interest rates? This is a list of banks … Read more
Traditionally, obtaining a loan has been a time-consuming process, often involving significant paperwork. However, with the Open Network for Digital Commerce (ONDC), you can secure a loan in just 6 minutes, without the need for any physical documents. This revolutionary service, launched on August 22, is designed to provide swift financial assistance to those in … Read more
In 2024, India Post Payments Bank (IPPB) launched IPPB WhatsApp Banking, a significant step towards enhancing digital banking accessibility. This innovative service allows customers to seamlessly manage their finances directly from their mobile phones, making banking more convenient. Established in 2018, India Post Payments Bank is a public sector bank under the Department of Posts. … Read more