Articles for Interest Credit

Your credit card defaults may pinch much more
1 day, 11 hours ago

Your credit card defaults may pinch much more

Deccan Chronicle  

Mumbai: The next time you miss credit card payments, you may be hit by much higher interest charges and late fees then what you may be paying now.In a move that will give lenders more freedom to set their own interest rates for credit card defaults, the Supreme Court has set aside an order of the National Consumer Disputes Redressal …

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SC allows banks to charge over 30% interest on credit card; overturns NCDRC cap
Trending News
3 days, 9 hours ago

SC allows banks to charge over 30% interest on credit card; overturns NCDRC cap

The Hindu  

The Supreme Court on Friday allowed appeals filed by banks challenging a 2008 National Consumer Disputes Redressal Commission order, which held that charging over 30% interest on credit card dues amounted to unfair trade practice under the Consumer Protection Act. The NCDRC had passed the order in 2008 on the questions whether banks could charge the credit card users interest …

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CIBIL score to get a home loan: How high should it be?
3 days, 20 hours ago

CIBIL score to get a home loan: How high should it be?

Live Mint  

Many people want to become home owners, and owning a home might be as simple as taking a home loan. One of the necessary requirements is that you ought to be credit-worthy, as a high CIBIL score increases your opportunities of acceptance besides helping to bargain better terms for loan. Here we will know the minimum required CIBIL score for …

Credit Loans Loan Home Loan High Score Good
Personal Loan: Can you qualify with a 666 credit score?
6 days, 21 hours ago

Personal Loan: Can you qualify with a 666 credit score?

Live Mint  

Credit score can help you get low interest rates on personal loans and is one of the major criteria of your application approval. A high credit score can help you get low interest rates and your desired loan amounts. CIBIL Score Range Rating 300-500 Poor 550-600 Average 650-750 Good 750-900 Excellent Can you get a personal loan with a 666 …

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‘Buy now, pay later’ is more popular than ever. It can cost more than you think
3 weeks, 2 days ago

‘Buy now, pay later’ is more popular than ever. It can cost more than you think

LA Times  

More shoppers than ever are on track to use “buy now, pay later” plans this holiday season, as the ability to spread out payments looks attractive at a time when Americans still feel the lingering effects of inflation and already have record-high credit card debt. Buy now, pay later can be particularly appealing to consumers who have low credit scores …

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Why is your credit score important and how will it impact your future?
Trending News
4 weeks ago

Why is your credit score important and how will it impact your future?

Live Mint  

Your credit score is an important number that influences every aspect of your life financially. A high credit score tells lenders that you are not very much of a risk, which translates to more favourable loan terms and lower interest rates. Loan limits: A good credit score can also mean a higher amount to be loaned, helping you access more …

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Pros and cons of personal loans: Is borrowing right for you?
1 month ago

Pros and cons of personal loans: Is borrowing right for you?

Live Mint  

Personal loans are one of the most sought after products in the field of finances, since they fulfil the need for instant money for any purpose. Personal loans are usually repos which are meant to meet specific needs despite the fact that as much as lenders set caps depending on your income and your ability to repay. No collateral required: …

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EPF interest delays: How it impacts compounding and tax filing
1 month, 1 week ago

EPF interest delays: How it impacts compounding and tax filing

Live Mint  

Chennai-based Sudarshan Jain was in for a shock when he checked his Employee Provident Fund passbook in August this year. “EPFO considers the previous year's declared rate of interest to process the claim. If the present year rate of interest is higher than the previous year, to that extent, member will be in loss of interest," he said. If EPFO …

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Before you sign up for a store credit card, know what you’re getting into
2 months, 3 weeks ago

Before you sign up for a store credit card, know what you’re getting into

LA Times  

With holiday shopping season around the corner, experts recommend caution when your favorite store offers you a credit card. Store credit cards as a way to build credit history Store credit cards were once known as a tool to build your credit history if you’d never had a credit card before. Store credit cards versus buy now, pay later Since …

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How to prepare for the Fed’s forthcoming interest rate cuts
3 months, 4 weeks ago

How to prepare for the Fed’s forthcoming interest rate cuts

LA Times  

The Federal Reserve is poised to cut its benchmark interest rate next month from its 23-year high, with consequences for consumers when it comes to debt, savings, auto loans and mortgages. “The time has come” to reduce interest rates, the head of the Federal Reserve, Jerome H. Powell, said Friday in his keynote speech at the Fed’s annual economic conference …

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High interest rates are hurting people. Here’s why it’s worse for Californians
5 months, 3 weeks ago

High interest rates are hurting people. Here’s why it’s worse for Californians

LA Times  

By the numbers, the overall U.S. economy may look good, but down at the street level the view is a lot grimmer and grittier. “I’ve been really sacrificing a lot to get to this point to purchase a home and now I just feel like I got here but I didn’t work quick enough because interest rates have gotten the …

Credit Car Interest Rates Credit Cards California Los Angeles Fed
What is the outlook on the global economy? | Explained
8 months ago

What is the outlook on the global economy? | Explained

The Hindu  

The story so far: The International Monetary Fund released the latest global financial stability report on Tuesday warning about the risks to the global financial system from persistent high inflation, rising lending in the unregulated credit market, and increasing cyber-attacks on financial institutions. Investors have been pushing up the prices of financial assets such as stocks in recent months in …

India Market Financial Inflation Credit Global Economy Interest Rates
Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind
9 months, 2 weeks ago

Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind

Live Mint  

The particular prerequisites for applying for a personal loan may slightly vary depending on the lender. Best Personal Loan for you at lowest interest rate Instant Apply Documents required for personal loan Identity verification : This may involve providing documents such as your Aadhaar card, PAN card, passport, or Voter ID. Credit history: Although a positive credit score is preferable, …

Personal Financial Credit Personal Loans Documents Eligibility Loan
Moody’s lowers US credit outlook, though keeps triple-A rating
1 year, 1 month ago

Moody’s lowers US credit outlook, though keeps triple-A rating

Associated Press  

WASHINGTON — The credit rating agency Moody’s Investors Service lowered its outlook on the U.S. government’s debt on Friday to “negative” from “stable,” citing the cost of rising interest rates and political polarization in Congress. Moody’s retained its top triple-A credit rating on U.S. government debt, though it is the last of the three major credit rating agencies to do …

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Medical credit cards may lead patients to overpay for their health care, Democrats warn
1 year, 5 months ago

Medical credit cards may lead patients to overpay for their health care, Democrats warn

Associated Press  

NEW YORK — A group of Democratic senators is asking the nation’s consumer finance watchdog to take action against medical credit cards such as CareCredit, saying use of these cards can result in patients paying much more for their medical care than they should. The bureau has not taken any action since the report came out, but groups of consumer …

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States confront medical debt that’s bankrupting millions
1 year, 8 months ago

States confront medical debt that’s bankrupting millions

Associated Press  

DENVER — Cindy Powers was driven into bankruptcy by 19 life-saving abdominal operations. Some of the bills would create medical debt relief programs or protect personal property from collections, while others would lower interest rates, keep medical debt from tanking credit scores or require greater transparency in the costs of care. In Colorado, House lawmakers approved a measure Wednesday that …

Medical Credit Debt Interest Rates Interest House Colorado
Credit Suisse deal averted crisis, Swiss central bank says
1 year, 9 months ago

Credit Suisse deal averted crisis, Swiss central bank says

Associated Press  

GENEVA — The Swiss central bank hiked its key interest rate Thursday and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil. In a statement, the Swiss National Bank said it is providing large amounts of support for the deal to merge Switzerland’s biggest banks and that the late Sunday announcement by …

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EPF Interest Credit: Member Accounts Of 98% Contributory Firms Updated Till Mar 6, Check Details
1 year, 9 months ago

EPF Interest Credit: Member Accounts Of 98% Contributory Firms Updated Till Mar 6, Check Details

News 18  

Employees’ provident fund member accounts of 98% of contributory firms or establishments have been updated with the latest interest credit till March 6, 2023, Parliament was informed on Monday. “This is an ongoing process, which has been taken up in a scheduled manner post development of software and by March 6, 2023, the process has been completed in respect of …

Credit Interest Process Interest Credit Teli Employees Provident Contributory Establishments
Wait for interest credit for 2021-22 prolongs for lakhs of EPF subscribers
1 year, 10 months ago

Wait for interest credit for 2021-22 prolongs for lakhs of EPF subscribers

The Hindu  

Nearly two years after the Budget 2021-22 introduced a tax on annual Employees’ Provident Fund contributions of over ₹2.5 lakh, implementation challenges continue to affect lakhs of EPF members with interest dues for that year still not credited into their accounts. Since then, the Employees’ Provident Fund Organisation has split EPF passbooks for 2021-22 into taxable and non-taxable contributions, but …

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How MSMEs can procure NBFC loans without mortgaging assets
2 years, 2 months ago

How MSMEs can procure NBFC loans without mortgaging assets

India TV News  

For MSMEs, sustained funding represents the difference between success and failure. Advent of Cash Flow-based Lending However, the advent of cash flow-based lending has made it much easier for MSMEs to procure credit, although at a somewhat higher interest rate to cover the extra risk of lenders. While new-age lenders such as NBFCs and fintech firms were the first to …

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