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SBI Bank provides auto loans at fixed interest rates under the schemes SBI Car Loan, NRI Car Loan, Assured Car Loan Scheme at interest rates from 8.00% to 8.70%. Under the Loyalty Car Loan Scheme, the SBI Car Loan and NRI Car Loan scheme provide loans at interest rates from 7.95% to 8.65% (CIC rates are applicable). Certified pre-owned car loan schemes(Loyalty Car Loan Scheme) at interest rates of 9.50% for man and 9.45% for women. The normal Certified pre-owned car loan schemes provide interest rates from 9.75% to 10.75% (CIC Based rates are applicable).

When it comes to the interest charged on credit card dues, as per the moratorium relief, if you don’t pay your credit card bills within the moratorium period, your bank will levy interest as it normally does and keeps accruing. But they wouldn’t levy late payment fees and the cumulative interest levied can go up to 12%. And if you make further purchases during the moratorium period, the interest on the additional spends will also start accruing and you might end up paying a huge amount on interest.

This EMI moratorium was mainly introduced to benefit people who wouldn’t have a regular cash flow during the covid-19 crisis. This 6 month moratorium would definitely help daily wage workers and salaried individuals who might not be able to make their EMI payments due to pay cuts or layoffs. You can accordingly decide whether you want to take up the EMI holiday or not, according to your financial situation. 

The moratorium is not a waiver but just a postponement of EMI loan payments and also for credit card outstanding dues. The moratorium is for both the principal amount of and the interest. Even though payments are postponed to a later date, the interest will continue to accrue on your dues during the moratorium period. And the interest due will be added to the outstanding amount pending, which will have to be paid along with the principal amount. 

Applying for the EMI moratorium differs from bank to bank. Ever since the RBI has announced the moratorium, banks have made sure that their customers are informed on what is to be done to apply for the moratorium. And all the information on how to avail the moratorium can be checked on each bank's official websites. The most commonly followed way for letting customers opt for the EMI holiday is by sharing links through SMSs or emails.

As there are people facing issues with paying their loan EMIs due to the coronavirus pandemic, the Reserve Bank of India has allowed banks and other financial institutions to provide a 6 month EMI holiday. The EMI holiday is included for all loans including home loan, credit card dues, personal loan, education loan,working capital loans, auto loans, etc. As this is just a postponement of EMI payments, interest will also not be waived off and will continue to be added on the outstanding amount.

The coronavirus pandemic has affected a lot of people financially as the covid-19 crisis has led to a lot of pay cuts and job losses. To ease the financial distress of people during these difficult times, RBI had announced an EMI holiday that was for three months and was extended to six months, until August 31, 2020. Customers who take up the moratorium would not have to pay their EMIs for that particular period of time.

If you are looking for a bike loan from Bajaj Finance Ltd, you may want to know about your monthly EMI beforehand to plan your finances. Bajaj Finance provides a bike loan EMI calculator that will help you find out your monthly EMI for the loan amount and tenure chosen by you. By using this calculator, you can plan your down payment and suitable tenure best for your monthly income.

The cash withdrawal limit on ATM cards varies for different banks. It depends on the policies of the bank and type of account you have opted for. On an average, you can withdraw up to Rs. 40,000 per day with most of the bank’s ATMs. You need to check with the bank for the maximum amount that can be withdrawn on your debit card.

The full form of ATM is Automated Teller Machine. It is an electro-mechanical machine that is used for withdrawing money from bank accounts. In banks, a person called the teller counts cash hands it over to the customers. In the same manner an ATM(Automated Teller Machine)provides you with the cash you need. It allows card holders to withdraw money from their bank accounts without approaching the bank to get the money.

Gold loans are managed by institutions that keep jewellery safe in a strong vault that are guarded well. Lenders also provide free insurance for the gold that is being pledged to them, which protects it against theft. So in case there is a robbery, you will get back an amount equivalent to the gold’s market value. 

Gold loan is a type of secured loan where you pledge your gold as collateral to avail the loan. The loan amount will be provided based on the current market value and the quality of the gold. Most of the major banks in India provide gold loans. As long as you fit the lending criteria and have a good credit score, any lender would provide a gold loan.

If you are planning to buy a two-wheeler with the help of ICICI Bank’s bike loan, you may want to check how much EMI you will be paying each month. While such mathematical calculations may seem tough, ICICI Bank lets you calculate the EMI in a matter of seconds through their exclusive two-wheeler loan EMI calculator. 

As of now, State Bank of India does not provide two wheeler loan EMI calculator on their website. However, you can find EMI calculators that are available commonly on various financial platforms.  EMIs are calculated based on the following formula. 

Although certain lenders do provide 100% finance on the value of the vehicle, getting it depends on your credit profile and relationship with the lender. Normally, the minimum down payment while purchasing a two-wheeler may range between 10% to 30% value of the vehicle. .

The EMI for Rs. 20 Lakhs home loan will not be the same for all. It depends on the interest amount fixed on the loan and the tenure. Now, every lender provides a home loan EMI calculator on their website. Using the calculator, you can find the EMI amount for different interest rates and tenures. 

Your car loan amount depends on your monthly income and the type of car you wish to purchase.  Before approving your car loan application, the lender goes through your credit report to analyse how you have performed in the past with your credit activities. If you have a good credit history, chances are higher that your loan application will get approved. 

The interest rate fixed on a car loan is subject to several factors. It will vary for each borrower based on their credit profile and income. Generally, the interest rate on a car loan ranges between 8% to 17%. If you are looking for a car loan with a particular lender, you must analyse the following factors as they have significant influence on your borrowing and interest rate. 

Every lender has a set of eligibility criteria to become eligible for a car loan. If you are looking for a car loan, you can easily get it by checking your eligibility criteria with the lender. Below are the criteria to get a car loan successfully. 

Most of the banks let you calculate your eligibility for a car loan on their website with the help of a car loan eligibility calculator. Most banks offer up to 100% of financing for new cars while you can get 80% for pre-owned vehicles. However, this hugely depends on the borrower’s credit profile. 

Having a fixed deposit is a kind of investment that is offered by banks where you can deposit a lump sum of money for a higher rate of interest than a savings account. Once the money is invested, it starts earning interest. When you make a fixed deposit you will not be able to withdraw the money before maturity, but you’ll be able to make a withdrawal after paying penalty.