According to the RBI guidelines, using or threatening to use muscle power for loan recovery will be considered as harassment.
Understand with ease, how to avoid home loan default and what steps banks can take against the customer?
Many times the customer is harassed even after repaying the loan; loan recovery agents' foul language is unacceptable: RBI guv
Loans available for banks have become expensive by about one percent. Now big question is how expensive will loans become for end consumer?
If you have never taken a loan but intend to take one, then on what basis will you get a new loan?
Home loans, auto loans have longer tenures of 10 to 20 years. A large number of people also buy products like Freeze, AC and TV on installments.
For home loans costing Rs 30, 50 and 80 lakh home loans, EMIs are going to go up in the interest rates of 7-7.45%
Know what are the benefits of transferring outstanding loan balance and what extra expenses you will have to incure
Many large banks such as SBI, Kotak Mahindra and Axis Bank have increased MCLR rates owing to RBI’s hawkish stance in last month’s MPC meet.
Some banks ask for a guarantor before giving a loan. Understand the risks of becoming a loan guarantor.