BankBazaar: Personal Loan, Home Loan Guide

The taxpayer and the New Direct Tax code

BankBazaar.com — Mon, 06 Sep 2010 02:53:33 +0000

In the present tax code, if you have invested in long term savings products like PF, gratuity fund, pension fund etc, then you can claim a deduction of Rs 1lakh from being taxed. Now with the introduction of new tax code, you can claim a deduction of an additional Rs 50,000 for tuition fees of children, pure life insurance premium and health insurance premium. Also, if you invest in infrastructure bonds, deduction of an additional Rs 20,000 also can be claimed.

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What credit card for whom?

BankBazaar.com — Mon, 06 Sep 2010 02:16:19 +0000

Cobranded credit cards work on brand partnership, when two companies form an alliance to work together, creating marketing synergy. For e.g. : Citibank credit card and Shopper’s Stop have an alliance. They are credit cards, which are associated with particular airlines, travel or retail outlet. These cards can be used just like regular credit cards but they also offer benefits to users of the relevant product like frequent travel points and special discounts. (more…)

Trust EPS, `Earnings per share’ for investing?

BankBazaar.com — Mon, 06 Sep 2010 01:58:17 +0000

While deciding between the companies operating in the same sector, examine the rate at which the EPS of these companies has changed during the final two quarters and compare this difference with the rate of change of EPS during the last 3-5 years. If the EPS has shown an increase, it would mean the company is on the growth path. It will give you an idea of which of the companies under consideration would give you the best possible returns.

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State Bank of Patiala opens 7 more branches in Punjab

News Desk — Fri, 03 Sep 2010 23:30:46 +0000

State Bank of Patiala has opened another 7 new branches in the Bathinda and Jalandhar districts of the bank. The bank, a subsidiary bank of State Bank of India has taken this measure to boost its access in rural Punjab. (more…)

Central Bank of India introduces prepaid cards

News Desk — Fri, 03 Sep 2010 23:30:40 +0000

Central Bank of India, which are the official bankers of Commonwealth games 2010, have launched pre paid cards meant for the players participating in the games and delegates for the current customers of the bank. (more…)

Hero Honda introduces Super Splendor costing Rs 45,950

News Desk — Fri, 03 Sep 2010 23:30:18 +0000

The country’s biggest two-wheeler manufacturer Hero Honda has introduced a new model of one of its best-sellers, Super Splendor, costing Rs 45,950 (ex- Delhi). (more…)

Car loan lender IDBI Bank removes minimum balance condition on savings and current a/cs

News Desk — Fri, 03 Sep 2010 23:30:17 +0000

Car loan lender IDBI Bank has removed the requirement for minimum balance on its current and savings accounts as well as majority of the service charges on these accounts. The bank has taken this step so as to boost its share of CASA deposits. (more…)

CIBIL and NHB to launch central registry for homes purchased using home loans

News Desk — Fri, 03 Sep 2010 23:30:17 +0000

CIBIL and NHB are making active steps to lessen frauds connected with home loans. Both the companies have chosen to start a central registry of mortgaged homes. One of the prime causes for increasing number of bad loans was frauds in which the borrower took the loan by using fake documents. (more…)

Citigroup stresses more on financial inclusion

News Desk — Fri, 03 Sep 2010 23:30:03 +0000

Banking giant, Citigroup is ready to play its part in the growth of Indian banking sector by continuing its concentration on microfinance and priority segments of the country such as financial inclusion and education sector, according to the bank’s CEO. (more…)

Personal loan lender UCO Bank gets a relief of 6 months in PCR norms

News Desk — Fri, 03 Sep 2010 23:30:03 +0000

Personal loan lender, UCO Bank has obtained a 6 month extension from RBI for reaching the provision coverage ratio of 70%. The extension obtained by the bank is valid till March 31. (more…)