Home Loans Interest Rates by Major Banks
By Gian Brett
In the period of recession most of the banks offer home loans, car loans, and personal loans on lower interest rates. Recently, SBI announced to lower interest rates for its special home loans for new borrowers at 8% for one year. After the one year interest rates will reset again.
SBI has announced special home loans for its existing customer also which is known as "SBI Lifestyle Loan". SBI Lifestyle loan offers up to Rs. 5 lakh. On the loan amounts charge rate would be 8% per annum for one year period. For above Rs. 5 lakh to 20 lakh SBI offers "SBI Special Home Loan scheme". According to the scheme an existing customer can take loans at 8% rate for one year and originally contracted rate will be applicable after having completed the one year.
ICICI is another second largest bank of India which offers home loans on lower interest rate. It has cut about 25-50 bps charge rates for its new customer. However, it has higher interest rates from SBI and HDFC banks. Its current interest rates would be 9.75% for 20 lakh loan amounts. For above 20-30 lakh home loan amounts interest rates would be 10% and for more than 30 lakh it would be 11.5%.
The ICICI bank has not cut interest rates for its existing customers.
On the other hand Canara Bank has fixed the interest rates for 20 years with different rates on the different slabs.
Other major banks are IDBI and PSU. IDBI bank has cut its home loans rates up to 20 lakh for 9.75% and above 20 lakh at 10.25% per annum.
IDBI has cut its deposits rates also. Major Banks of India has announced that they will revise their interest rates by next months again.
In the property and mortgage there is more rebate by property dealer and banks in spite of the investment in property is lower like other sectors.
The economical crisis has led the crisis in real estate and banking sector also. Along with the banking sectors, insurance sectors are also affected by the economical crisis which is clear by AIG's loss.
Gian Brett is an expert writer of various subjects. He has written many articles on Mortgage Process also.
================================
Understanding the Different ISAs Available
By Paul Mcindoe
In a bid to encourage UK residents to save more money the British government introduced ISAs, short for individual savings accounts. The appeal of an ISA lies in the tax efficiency that you receive when saving your money in this type of account.
With many other types of saving account you are liable to pay tax on any interest accrued whereas an ISA gives you freedom from this, meaning no Income or Capital Gains tax is paid on the interest you receive or any return on your investment.
There are a number of different ISA products available, so a spot of initial research will ensure you choose the best product to suit your individual needs.
There are two types of ISA to choose from; Cash ISAs and Investment ISAs. A Cash ISA operates in a similar way to any other savings account that pays interest; you place money into your ISA account for a set period of time and then earn interest on your savings. The way in which a Cash ISA does differ to other bank accounts relates to the fact you will not pay any tax on the interest you receive, which ultimately means more money for you in the long run.
As with other types of savings account there are a number of different types of Cash ISA, from easy access to fixed rate to notice accounts. The rate of interest you receive tends to vary depending on which type of account you opt for, so it is well worth shopping around before making your final decision.
If you want to invest in a Cash ISA in the United Kingdom then you need to be 16 years of age or over. In addition, if you want to save money in a British bank account then you must be a resident in the UK.
An Investment ISA is a Stocks and Shares ISA which enables you to invest your money in a choice of funds with different investment objectives. Whether you want to achieve regular income or capital growth, an Investment ISA is also a tax-efficient way of saving that gives you the flexibility to tailor your investments to suit yourself.
You can open one Cash ISA and one Investment ISA each tax year. Under the 2008/09 tax rules that apply in the United Kingdom you can invest up to £3,600 in a Cash ISA. The remainder of your £7,200 allowance can be invested in a Stocks and Shares ISA. Alternatively, you can just open a single Stocks and Shares ISA and invest the full £7,200 in that.
As with opening any new savings account, it pays to take your time to thoroughly research the market. That way, you can be sure you are choosing the most suitable account for your needs.
Paul McIndoe writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
=========================================
You Have the Means to Survive the Financial Crisis
By Wendy Stenberg-Tendys
As global financial giants continue to crash on the deck with resounding crashes, the financial world reels in chaos. Scenes of bewilderment and loss of self-assurance not seen since the Great Depression in the early 1930's, fill the media. This is not the moment to panic and allow your emotions to take control.
So What are the Facts?
• The universal giants of the finance world are the ones who have been humbled, because of their over-borrowing with no ability to pay it back. They might be dripping tears into their caviar, but when 18 billion becomes a mere 3 billion, who is counting, except the filthy rich?
• Numerous 'average' business owners are buried underneath the bed covers shaking in fear.
The current situation has been likened to economic Darwinism, where survival of the fittest is the rule of thumb. You can choose to either let yourself drown in doom and gloom, or survive. You do have a choice.
The pertinent key to your survival is the management of your money. Okay, that sounds like just the same old stuff, but in this new day you have to rethink everything. You will survive the financial crisis, if you are prepared to make a few changes.
• You first priority is not to panic. Nor react emotionally to the situation and let your emotions rule you. Operate from the head not the heart in this situation.
• Secondly, you need to evaluate the global situation for yourself, not simply accept everything the media hype is feeding you. They will report the story the way that sells copy. Remember they are experts in Bad News. Take time out to do your own research.
• Universally we have evolved into being a consumer society on a huge scale, so take a long hard look at your personal set of circumstances. Reassess coldly and calculatingly. Cut back all expenses wherever you can. Streamline for more efficiency and stop wastage. Spend money wisely and save it where and whenever you can.
Now is the time to split the wants list from the needs lists. Don't give up on your dreams, but they are something you have to work up to.
You are inundated with thousands of different ways to spend your hard earned cash as quickly as possible, particularly if it involves credit - where only the banks are the winners! It's time to realize the fact that credit is a product the same as any other form of commodity. It is continuously being sold to you.
Yes, in some cases people are losing their jobs, but that can happen in any economical climate. Be prepared to diversify. So what if you have done the same job for the last several years. You have other talents, some you are not even aware of. Adjustment is the answer to your survival. Seek out new areas you could break into. Find out what areas are still progressing.
Jean-Claude Larreche, professor of marketing said "It's not the creative entrepreneurs but the large companies that are being challenged. Creative companies can survive any conditions", when he was reporting from the World Knowledge Forum in Seoul, South Korea.
"An enormous amount of opportunities will emerge as a result of the current global economic slowdown but companies need to be nimble in order to move quickly and decisively to realize these opportunities", says Sir Richard Branson.
This is not the time to hide away in fear, or to bury your head in the sand and just hope it will all go away. This is the time to stand up and take constructive action. Seek out what your options are, plan carefully and step forward boldly. When things get tough, the tough get going.
Dr Wendy Stenberg-Tendys and her husband are CEO's of YouMe Support Foundation (http://youmesupport.org) providing high school education grants for children who are without hope. You can read more about this exciting project, that aims to give these children a once in lifetime 'Blue Moon Opportunity'. A change to fulfill their dreams at whatever level they chose to. This Blue Moon Opportunity may even help you survive the financial crisis. Take a few minutes to check it out at Win A Resort (http://winaresort.com)
Feel free to contact Wendy on admin@youmesupport.org
By Gian Brett
In the period of recession most of the banks offer home loans, car loans, and personal loans on lower interest rates. Recently, SBI announced to lower interest rates for its special home loans for new borrowers at 8% for one year. After the one year interest rates will reset again.
SBI has announced special home loans for its existing customer also which is known as "SBI Lifestyle Loan". SBI Lifestyle loan offers up to Rs. 5 lakh. On the loan amounts charge rate would be 8% per annum for one year period. For above Rs. 5 lakh to 20 lakh SBI offers "SBI Special Home Loan scheme". According to the scheme an existing customer can take loans at 8% rate for one year and originally contracted rate will be applicable after having completed the one year.
ICICI is another second largest bank of India which offers home loans on lower interest rate. It has cut about 25-50 bps charge rates for its new customer. However, it has higher interest rates from SBI and HDFC banks. Its current interest rates would be 9.75% for 20 lakh loan amounts. For above 20-30 lakh home loan amounts interest rates would be 10% and for more than 30 lakh it would be 11.5%.
The ICICI bank has not cut interest rates for its existing customers.
On the other hand Canara Bank has fixed the interest rates for 20 years with different rates on the different slabs.
Other major banks are IDBI and PSU. IDBI bank has cut its home loans rates up to 20 lakh for 9.75% and above 20 lakh at 10.25% per annum.
IDBI has cut its deposits rates also. Major Banks of India has announced that they will revise their interest rates by next months again.
In the property and mortgage there is more rebate by property dealer and banks in spite of the investment in property is lower like other sectors.
The economical crisis has led the crisis in real estate and banking sector also. Along with the banking sectors, insurance sectors are also affected by the economical crisis which is clear by AIG's loss.
Gian Brett is an expert writer of various subjects. He has written many articles on Mortgage Process also.
================================
Understanding the Different ISAs Available
By Paul Mcindoe
In a bid to encourage UK residents to save more money the British government introduced ISAs, short for individual savings accounts. The appeal of an ISA lies in the tax efficiency that you receive when saving your money in this type of account.
With many other types of saving account you are liable to pay tax on any interest accrued whereas an ISA gives you freedom from this, meaning no Income or Capital Gains tax is paid on the interest you receive or any return on your investment.
There are a number of different ISA products available, so a spot of initial research will ensure you choose the best product to suit your individual needs.
There are two types of ISA to choose from; Cash ISAs and Investment ISAs. A Cash ISA operates in a similar way to any other savings account that pays interest; you place money into your ISA account for a set period of time and then earn interest on your savings. The way in which a Cash ISA does differ to other bank accounts relates to the fact you will not pay any tax on the interest you receive, which ultimately means more money for you in the long run.
As with other types of savings account there are a number of different types of Cash ISA, from easy access to fixed rate to notice accounts. The rate of interest you receive tends to vary depending on which type of account you opt for, so it is well worth shopping around before making your final decision.
If you want to invest in a Cash ISA in the United Kingdom then you need to be 16 years of age or over. In addition, if you want to save money in a British bank account then you must be a resident in the UK.
An Investment ISA is a Stocks and Shares ISA which enables you to invest your money in a choice of funds with different investment objectives. Whether you want to achieve regular income or capital growth, an Investment ISA is also a tax-efficient way of saving that gives you the flexibility to tailor your investments to suit yourself.
You can open one Cash ISA and one Investment ISA each tax year. Under the 2008/09 tax rules that apply in the United Kingdom you can invest up to £3,600 in a Cash ISA. The remainder of your £7,200 allowance can be invested in a Stocks and Shares ISA. Alternatively, you can just open a single Stocks and Shares ISA and invest the full £7,200 in that.
As with opening any new savings account, it pays to take your time to thoroughly research the market. That way, you can be sure you are choosing the most suitable account for your needs.
Paul McIndoe writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
=========================================
You Have the Means to Survive the Financial Crisis
By Wendy Stenberg-Tendys
As global financial giants continue to crash on the deck with resounding crashes, the financial world reels in chaos. Scenes of bewilderment and loss of self-assurance not seen since the Great Depression in the early 1930's, fill the media. This is not the moment to panic and allow your emotions to take control.
So What are the Facts?
• The universal giants of the finance world are the ones who have been humbled, because of their over-borrowing with no ability to pay it back. They might be dripping tears into their caviar, but when 18 billion becomes a mere 3 billion, who is counting, except the filthy rich?
• Numerous 'average' business owners are buried underneath the bed covers shaking in fear.
The current situation has been likened to economic Darwinism, where survival of the fittest is the rule of thumb. You can choose to either let yourself drown in doom and gloom, or survive. You do have a choice.
The pertinent key to your survival is the management of your money. Okay, that sounds like just the same old stuff, but in this new day you have to rethink everything. You will survive the financial crisis, if you are prepared to make a few changes.
• You first priority is not to panic. Nor react emotionally to the situation and let your emotions rule you. Operate from the head not the heart in this situation.
• Secondly, you need to evaluate the global situation for yourself, not simply accept everything the media hype is feeding you. They will report the story the way that sells copy. Remember they are experts in Bad News. Take time out to do your own research.
• Universally we have evolved into being a consumer society on a huge scale, so take a long hard look at your personal set of circumstances. Reassess coldly and calculatingly. Cut back all expenses wherever you can. Streamline for more efficiency and stop wastage. Spend money wisely and save it where and whenever you can.
Now is the time to split the wants list from the needs lists. Don't give up on your dreams, but they are something you have to work up to.
You are inundated with thousands of different ways to spend your hard earned cash as quickly as possible, particularly if it involves credit - where only the banks are the winners! It's time to realize the fact that credit is a product the same as any other form of commodity. It is continuously being sold to you.
Yes, in some cases people are losing their jobs, but that can happen in any economical climate. Be prepared to diversify. So what if you have done the same job for the last several years. You have other talents, some you are not even aware of. Adjustment is the answer to your survival. Seek out new areas you could break into. Find out what areas are still progressing.
Jean-Claude Larreche, professor of marketing said "It's not the creative entrepreneurs but the large companies that are being challenged. Creative companies can survive any conditions", when he was reporting from the World Knowledge Forum in Seoul, South Korea.
"An enormous amount of opportunities will emerge as a result of the current global economic slowdown but companies need to be nimble in order to move quickly and decisively to realize these opportunities", says Sir Richard Branson.
This is not the time to hide away in fear, or to bury your head in the sand and just hope it will all go away. This is the time to stand up and take constructive action. Seek out what your options are, plan carefully and step forward boldly. When things get tough, the tough get going.
Dr Wendy Stenberg-Tendys and her husband are CEO's of YouMe Support Foundation (http://youmesupport.org) providing high school education grants for children who are without hope. You can read more about this exciting project, that aims to give these children a once in lifetime 'Blue Moon Opportunity'. A change to fulfill their dreams at whatever level they chose to. This Blue Moon Opportunity may even help you survive the financial crisis. Take a few minutes to check it out at Win A Resort (http://winaresort.com)
Feel free to contact Wendy on admin@youmesupport.org
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