However, leveraging shares comes with conditions and risks that need careful consideration. How loan against shares works A loan against shares (LAS) allows borrowers to pledge their equity holdings as collateral for an overdraft facility, offering flexibility by charging interest only on the utilized amount. For example, if shares worth ₹10 lakh are pledged, the … Read more
Instant personal loan is a type of unsecured loan which gives quick access to money with minimal documentation and fast approval, sometimes within minutes or a few hours. Instant personal loans are generally offered by banks, non-banking financial companies (NBFCs), or fintech lenders and are quite handy to address short-term financial needs, which include but … Read more
A personal loan is an unsecured loan given to meet immediate financial needs of people. Lately, it is quite common for banks to offer instant loans in this category. These instant loans are given to meet urgent financial assistance. There could be a number of reasons for which an instant personal loan is applied. This could … Read more
A Cash Deposit Machine or Automated Deposit-cum- Withdrawal Machine (ADWM) — is an ATM-like machine that enables depositors to deposit cash into their accounts using the ATM-cum-debit card. One can use this machine to immediately credit their account without visiting the branch. The transaction receipt gives an updated account balance. Meanwhile, it is vital to … Read more
Benchmark indices Sensex and Nifty hit new highs in the previous session on September 24. However, as of September 25, trading remains subdued, with muted movement across the markets. On September 24, Benchmark Sensex reached a record high of 85,163.23, crossing the 85,000 mark for the first time, while Nifty set a new high of … Read more
Credit cards are one of the easiest ways to buy your favourite products without paying for them in cash immediately. But what does it mean for banks that provide you credit? How do they benefit by lending money to you? Or do they have to wait till the due date to get their money back? … Read more
Can banks charge you a joining fee even before your credit card is activated? They cannot as the credit card account will not be created unless the card is activated. With complaints about banks charging a joining fee even before the card is activated, unsolicited cards being issued and the undue delay in closing the … Read more
If you run short of cash and plan to withdraw your mutual fund investments, take a pause. There is another option: You can take a loan against mutual funds and not disrupt the long-term potential compounding of your investment. Several banks offer loans against mutual fund units at interest rates ranging from 10-15% per annum. … Read more
Although the banking sector has lagged behind the Indian benchmark Nifty index over the past 6 to 12 months, it is well-positioned for substantial long-term growth, driven by India’s largely underbanked population. In 2024, the Nifty Bank index has risen over 8 percent year-to-date, trailing the benchmark Nifty’s almost 13 percent increase. Meanwhile, over the … Read more
Students planning to go abroad for higher studies tend to apply for a forex prepaid card with foreign currencies loaded into it. Almost all major banks in India offer forex prepaid cards. One such card, Student Sapphiro Forex Prepaid Card, was launched by ICICI Bank recently. Meant for students who are planning to study abroad, … Read more