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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. 

As the moratorium has been extended to August 31,2020, SBI bank has simplified the process of stopping EMIs by initiating an SMS communication to all eligible customers to stop EMIs. This is done to obtain consent from customers to stop their Standing Instructions (SI)/NACH mandate for EMIs due from June 1, 2020 to August 31,2020.

ICICI Bank is allowing its customers to apply for moratorium on your loans, credit cards and other credit facilities. If you apply for the moratorium, your EMI dues will be postponed and you would have to resume payment after August 31,2020. As this is only a deferment of payment, interet will continue to accrue on your outstanding amount,during the moratorium period. Due to this, the tenure of your loan will also get extended.

You can opt to avail the moratorium for your SBI Bank credit card dues. The moratorium means that it’s just a deferment of payment and your credit dues will continue to accumulate interest and other charges(other than Late Payment Charges and residual GST). So it is advised to make card payments regularly, to lessen the burden from accumulation of outstanding amounts. The moratorium has been extended till August 31, 2020.

Owning a car has become much easier with the varied financing options available from banks and private lenders. With a salary of Rs. 20,000 per month, you must be wondering how much you will be able to get as the maximum car loan amount. Banks, typically, consider your income, credit score, employment and employer as the major criteria to offer a car loan. 

Owning a home is the common dream among most Indian people. With banks offering instant home loans, buying a home is made simple. If you are wondering what will be the maximum eligible amount for a home loan, here  is the answer. 

ICICI Bank provides an exclusive moratorium EMI calculator to measure the impact of opting for the facility announced by the RBI during COVID-19 pandemic. To calculate the impact of moratorium, you need to have the following details. 

During the Corona pandemic, RBI instructed banks to offer a 6-month loan moratorium to all borrowers.  Axis Bank provides a detailed explanation of the Moratorium policy and its impact on your repayment schedule. If you are an Axis Bank customer, you can avail of the moratorium facility online by registering your mobile number. 

State Bank of India (SBI) accepts applications for availing Moratorium facility for up to 6 months starting from March 2020 till August 2020 as per RBI regulations. You can fill up the form and submit it at a nearby SBI branch or you can contact the customer care department to avail this EMI deferment facility. You must remember that opting for moratorium will come with additional cost in the form of interest charges. Henceforth, avail this facility only if deemed necessary. 

During the Corona Pandemic, the RBI announced various measures to ease the burden of EMIs on borrowers. Loan EMI Moratorium was one such step taken to protect borrowers from lenders. 

In view of the COVID-19 pandemic, the RBI has instructed all banks to offer moratorium facilities. If you opt for a moratorium facility on your loan, the repayment period will be postponed. However, interest charges need to be paid during the moratorium period. If you have taken a loan from Bajaj Finserv and have opted for a moratorium, you can use the calculator provided at their website to arrive at the amount you will be paying after the moratorium period. 

You can avail moratorium facility on your home loan that  is offered by banks in the wake of COVID-19 pandemic. It can be availed for up to 6 months from March 2020 to August 2020. While you can stay away from making the repayment, interest charges apply during the moratorium period. If you plan to use the moratorium period for your home loan, through the moratorium EMI calcultor, you can get to how much you will be paying additionally after the moratorium period ends. 

Moratorium is offered by banks in the wake of COVID-19 pandemic to defer payment for up to 6 months. While you can stay away from making the repayment, interest charges apply during the moratorium period. If you plan to use the moratorium period for your personal loan, through the moratorium EMI calcultor, you can get to how much you will be paying additionally after the moratorium period ends. 

Internet banking enables seamless financial transactions for the users without having to visit the bank in person. You just need to have an internet connection to conduct transactions from anywhere in the world. Debit card or ATM card details have been made mandatory to register for an internet banking to ensure a secured transaction. Those who do not have a debit card will have to visit the nearest bank branch to register for the net banking. 

The RBI (Reserve Bank of India) had announced that the moratorium would extend till August 31, 2020. The total moratorium period in all eligible term loan accounts will be extended and SBI is also reaching out to its eligible loan customers to obtain their consent to stop their Standing Instructions(SI) to debit loan EMIs every month. The bank has made it easy for customers to stop their EMIs by initiating SMS communication to all eligible customers.

Bajaj Finserv lets you avail moratorium on requesting them to stop EMI repayment of any loans during this period. Interest will continue to accrue on the outstanding amount of the loan during the period of moratorium.

According to RBI guidelines, banks are permitted to offer extension of moratorium on payment of loan installments or credit card dues which fall between the moratorium period. The moratorium period was extended to August 31,2020. Opting for the moratorium means deferment of your EMI payments. The repayment along with the accrued interest will resume from September 2020, once the moratorium period ends. 

HDFC Bank has announced an extension of the moratorium on loans to 31 August, 2020. You can avail loan moratorium up to 6 EMIs due from 1 March, 2020 and 31 August, 2020. If you take up the moratorium you wouldn’t have to pay your EMIs between the moratorium period given.

Netbanking is the easiest way to pay your HDFC Personal Loan EMI.  Personal Loan EMIs are usually auto-debited from your bank account via NACH Mandate or ECS. However, if you want to make an overdue loan payment, you can do so from the HDFC Bank website. 

The Indian government has shown inclination to encourage citizens to invest in a house by providing multiple tax benefits. If you are taking a home loan for purchasing or constructing a house, it must be completed within 5 years from the end of the financial year in which the loan was taken by you. EMIs for housing loans have two components - interest and principal payments. Interest portion of the EMI paid can be claimed as a deduction from your total income up to a maximum of Rs. 2 lakhs.

Among the post office saving schemes, National Savings Recurring Deposit Account is one of the schemes that helps investors to form a capital to meet their future needs. Account can be opened by a single adult or as a joint account having maximum 3 adults. Recurring deposits are provided to help people invest their money through regular monthly deposits and earn interest at applicable rates