Money Saving Tips

RBI expands scope of Bharat Bill Payment System https://www.fundstiger.com/rbi-expands-scope-bharat-bill-payment-system/ In a consumer-friendly initiative, the RBI on 16th Sep19 expanded the scope of Bharat Bill Payment System (BBPS) to cover all repetitive bill payments, which may include school fees, insurance premiums and municipal taxes. BBPS is an interoperable platform that enables a customer to pay bills such as telephone, water, gas, direct-to-home (DTH) and electricity at a single location electronic or physical. With the expansion of the scope of the payment facility, other recurring payments such as school fees, municipal taxes, insurance premiums can also be paid via BBPS. Currently, BBPS covers bills of five segments – direct to home (DTH), electricity, gas, telecom, and water. The objective of BBPS is to implement an integrated bill payment system that offers interoperable and accessible bill payment services to customers through a network of agents, enabling mult...

Ways to get Personal Loan for CIBIL Defaulters https://www.fundstiger.com/personal-loans-cibil-defaulters/ Defaults are troublesome and can have wide-ranging impacts on your life and finances, terribly affecting your quality of life in the process. They’re often seen as signs of poor financial management something that isn’t taken pleasantly by lenders. The good news is that they aren’t the dead end, really. They certainly induce setbacks by causing a string of rejections when you apply for new loans or credit cards, but things can definitely change if you take corrective measures. Before we go on to look at how to cope with a default, let us understand what defaults actually are. What exactly are Repayment Defaults? Technically, a default is a missed monthly payment towards a loan/credit card for a period of more than 30 days. Anything past the due date is considered a late payment, and late payments aren’t a good thing either. But non-payments have a more serious impact on yo...

Psbloansin59minutes Personal Loan https://www.fundstiger.com/psbloansin59minutes-personal-loan/ Public sector banks (PSBs) have started giving in-principle approval of home and personal loan applications on the ‘PSB Loans in 59 Minutes’ web portal, launched last year to facilitate quick loans for micro, small and medium enterprises (MSMEs). According to a statement by PSB Loans in 59 Minutes, applicants can now get in-principle approvals from 19 PSBs, including the State Bank of India (SBI), Punjab National Bank, Bank of Baroda and Union Bank of India. Psbloansin59minutes Personal Loan A Personal loan can be helpful to Individuals with their immediate financial needs. Whether you need funds for a medical emergency or to travel to an exotic destination or to have your dream wedding, your requirement can be any, but you can fulfil it with an easy personal loan. psbloansin59minutes offers fast and hassle-free contactless personal loan In-principle approval to help meet your plan...

Psbloansin59minutes Home Loan https://www.fundstiger.com/psbloansin59minutes-home-loan/ Online loan platform PSB Loans in 59 Minutes has launched in-principle retail loan approval for home and personal loan customers. The platform is currently offering loan approvals to MSME sector. The applicants will get an in-principle approval for loans within 59 minutes through 19 public sector banks including names like SBI, Punjab National Bank, Bank of Baroda and Union Bank of India. Customers will have the option to choose the bank and the product they like, and will also have quick and hassle-free access to home and personal loans, irrespective of whether they have an account with any of the available banks. According to the statement, the 59 Minutes scheme uses advanced algorithms to analyse data points from several sources such as income tax returns and bank statements. Once an applicant uploads required information, the proprietary algorithms on the website appraise the applicati...

SBI Cuts Interest Rates on Home Loans, Fixed Deposits https://www.fundstiger.com/sbi-cuts-interest-rates/ India’s biggest bank State Bank of India or SBI has cut interest rates on fixed deposits or FDs, its second revision in about 15 days. SBI today lowered FD rates by 20-25 basis points. SBI also announced reduction in its MCLR by 10 bps across all tenors. The new rate of interest will come into effect from 10 September 2019. State Bank of India (SBI) on 9Sep19 announced a reduction in its marginal cost-based lending rate or MCLR by 10 basis points. It also lowered interest rates on term deposits across all maturities by up to 25 basis points. The move marked the fifth consecutive reduction in MCLR by the country’s largest bank so far this financial year. The cut in interest rates comes on the back of the Reserve Bank of India (RBI)’s 1.1 percentage point reduction in the repo rate – the key interest rate at which it lends short-term funds to commercial banks – so far this year...

SIDBI Swavalamban https://www.fundstiger.com/sidbi-swavalamban/ Small Industries and Development Bank of India (SIDBI) Small Industries and Development Bank of India (SIDBI) mainly focuses on the financing, promotion and development of the Micro, Small and Medium Enterprises (MSMEs). Established in 1990, SIDBI’s primary objective is to strengthen the MSME sector by facilitating cash flow. The bank assists MSMEs to get funds for the development, commercialization and marketing of their innovative technologies and products. SIDBI offers customized financial products under several loan schemes and provides services to meet the demands of various business projects. SIDBI’s Objectives SIDBI majorly follows four major objectives which are development, promotion, coordination and financing. Some of its key functions incudes: SIDBI extends financial support to Small Scale Industry (SSIs), and other service sectors It provides indirect finance through banks, NBFCs, SFCs and other f...

Is Long Term Personal Loan a good choice? https://www.fundstiger.com/long-term-personal-loans/ Personal loans are unsecured loans offered by banks, NBFCs and Fintech lending companies to creditworthy individuals. Tenures on these loans start from 1 year and stretch up to 5 years. The question of whether to choose a short tenure (1-2 years) or a long tenure (4-5 years) has often baffled customers. In this article, we observe the pros and cons of choosing long repayment tenure. They offer flexible end use and repayment tenure that usually varies from a year to 5 years. The question to choose a short tenure (6 to 2 years) or long tenure (3 to 5 years) is debatable. Though almost all the lenders offer the privilege to choose the loan tenure as per your repayment ability, it is necessary to be careful while choosing the right tenure. Eligibility Criteria for Long-Term Loans Long term loans offer huge loan amounts and as such have stringent eligibility guidelines. However, these cr...