Paying your credit card bill is now easy and convenient. You can now pay your bill online from the comfort of your home / office using any bank account of your choice.
Just pay in 3 simple steps:
1. Enter details of the Card number and the amount you wish to pay.
2. Choose the bank account you wish to debit.
3. Login to this account, verify details and confirm payment.
You can follow the links below depending on the credit card for which you wish to make a payment. Continue reading “Pay your credit card bills online” »
Photo by: kevindooley
Tax benefits on home loans have turned out to be an important aspect of home buying . Here is how you can benefit from the same.
Tax breaks
For self-occupied house property, the annual value of the house property is considered to be nil. Further, an individual could claim a deduction for the interest paid on the home loan (for purchase or construction) up to Rs 1.5 lakh, subject to certain conditions. This would result in a loss under the head house property of up to Rs 1.5 lakh, which could be set off against other income. If the property is let out, the actual amount of housing loan interest, without limit, could be claimed as deduction. Also, an individual can claim a deduction up to Rs 100,000 for re-payment of the principal amount U/S 80C of the Income Tax Act, 1961. Continue reading “Home Loans: Joint ownership” »
Did you apply for a loan but the bank turned it down without giving you sufficient details on why they turned down your application?
The Reserve Bank of India has been receiving a number of complaints, including under the Right to Information (RTI) Act, 2005, that customers are unable to get their own credit report from the banks. Continue reading “Access to Your Own Credit Report” »
In a few months’ time the taxman will coming knocking on your door. However, he cannot tax you on the following 14 important items of income and receipts, as they are fully exempt from income tax and which a resident individual Indian assessee can use with profit for the purpose of tax planning.
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Barely six months since the usage of other bank ATM’s was allowed for free — the rules have now changed.
Effective 15th October, 2009 customers will be allowed to withdraw a maximum of Rs. 10,000 per transaction from non Bank ATMs. What this means is, savings Account customers will be allowed 5 free cash withdrawals per month on non Bank ATMs. A charge of Rs. 20 per transaction will be levied for additional ATM cash withdrawal on non Bank ATMs beyond the first 5 transactions.
So its clear that as long as the end customer was paying the per transaction charges earlier the banks were happy — but once they had to start paying the fee from their own pocket to the other bank (whose ATM was used to withdraw cash) it had begun to pinch them hard.
Beginning August 1, 2009, the Securities and Exchange Board of India (Sebi) has said, there will be no entry load for any mutual fund scheme and the upfront commission to distributors will be paid directly by the investor.
Did you know you could be still paying an entry load even after Aug 1, 2009?
Here’s how — if you started investing via systematic investment planning (SIP) before Aug 1, 2009 then you will be paying the entry load on each SIP amount every month even AFTER Aug 1, 2009 till the term end of your SIP. Most funds deduct an entry load of 2.25% on each SIP installment. Continue reading “Save entry load on SIPs” »
In their constant pursuit of recovering dues from credit card customers, banks are empowering themselves with a tool that allows them to ask employers to deduct the outstanding amount from the salary. Employees who may have defaulted on payment, however, cannot object to this deduction of dues at source, according to the new clause introduced in the ‘terms and conditions’ by the country’s largest private sector lender ICICI Bank and expected to be adopted by others as well. Such deductions will be remitted to the bank and will continue till the entire dues are recovered. The deductions shall be of such amounts, and to such extent, as ICICI Bank may communicate to (and instruct) the card holder’s/card member’s employers,” says the revised terms and conditions of the bank.
Although the Reserve Bank of India has allowed shops to act as ATMs, the people meant to serve as banks’ new touch points – the shopkeepers – will have to be convinced first.
On July 22, the Reserve Bank of India had issued a circular permitting cash withdrawals of up to Rs 1,000 per day from point-of-sales (PoS) terminals at merchant establishments. PoS terminals are machines where customers can swipe their credit or debit cards to pay for purchases. Says Jayesh Sangoi, a Mumbai-based clothes’ retailer, “Already, there have been many cases of credit fraud. What happens if a customers just walks in with a fake card, and leaves with cash?
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