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Credit-card issuers are increasingly turning into financial counsellors. Come January quarter, SBI Cards, a standalone credit-card company co-promoted by India’s largest state-owned bank, plans to launch ‘customised statements’ to help its customers know their spending pattern, say over a year. Based on the analysed spending pattern, which will be shared in the credit card statements, […]

Although rock-bottom interest rates are playing havoc with investment returns, they offer a retirement-planning opportunity that adviser Marguerita Cheng now uses regularly: mortgage refinancing. “For our reviews, we ask clients to bring in their mortgage statements and investment statements,” said the Ameriprise Financial Inc. financial adviser. “Since you can’t control markets but can control what […]

The home loan and personal loan cannot be clubbed since both are different products. You can ask your home loan lender to give you a top-up loan on the security of the house and use that to prepay your personal loan. You will be eligible for a top-up loan only if your income is sufficient […]

Mahindra & Mahindra Ltd. (M&M), India’s leading SUV manufacturer signed a Preferred Financier agreement with Bank of India (BoI), one of India’s largest public sector banks with 106 years of banking history. Under the aegis of this tie-up, M&M customers will be able to avail of Car loan services from any branch of BoI across […]

Two global private equity majors-Carlyle Group and Warburg Pincus-offloaded substantial chunks of their holdings in two of India’s leading financial services firms – HDFC and Kotak Mahindra Bank, respectively – through block deals on Wednesday, jointly worth about Rs 2,200 crore ($440 million). CMP Asia, a Carlyle Group fund, sold 2 crore shares (about 1.4%) […]