Author: Nisha Chawla

Defaulting on a home loan is a challenging situation, but it’s possible to recover and avoid added penalties if you act quickly and strategically. Here’s a breakdown of effective steps you can take to regain control over your finances. Review Your Loan Agreement Thoroughly The first step to managing a loan default is understanding your loan’s terms and conditions. Review your loan agreement in detail, noting terms like late payment policies, penalty charges, interest rates, and foreclosure deadlines. These details can provide insights into the steps you can take next. Tip: If any terms are unclear, reach out to your…

The Digital Fixed Deposit (Digital FD) is fast becoming a popular choice among investors looking for a simple, risk-free investment option. Offering similar benefits as traditional FDs, Digital FDs let investors open and manage their accounts online from the comfort of their homes. It’s ideal for those who seek security, fixed returns, and minimal hassle. Let’s explore the benefits, process, and details about Digital FDs and how they stand out from regular FDs. What is a Digital Fixed Deposit? A Digital FD is much like a traditional fixed deposit but can be opened entirely online. It doesn’t require you to…

In today’s world, many people are investing in the stock market, not just to grow wealth but also to keep financial options open. If you’re one of those investors and need cash on short notice, you can easily take a loan against your shares. Here’s a breakdown of what it means, how it works, and what to keep in mind. What is a Loan Against Shares? A loan against shares (LAS) is a type of loan where your shares act as collateral. Instead of selling your shares when you need cash, you can pledge them to the lender and take…

For frequent travelers, having access to airport lounges can transform a hectic trip into a peaceful experience. Lounges offer free food, drinks, Wi-Fi, and comfortable seating, allowing you to unwind before a flight. Many premium credit cards from HDFC, SBI, and Axis Bank offer complimentary access to airport lounges, but choosing the right one can be confusing. Here’s a guide to the best credit cards for lounge access in 2024, along with tips on making the most of your lounge benefits. Why Lounge Access Matters Traveling often means dealing with crowds, long waits, and the hustle of airport terminals. An…

Paying your credit card bill on time is crucial not only for avoiding penalties and late fees but also for maintaining a healthy credit score. A good credit score opens up financial opportunities, such as loan approvals and favorable interest rates. Let’s dive into when and how to pay your credit card bill for the best results. Why Timely Credit Card Payments Matter If you miss your credit card payment deadline, you face two major issues: Understanding Interest-Free Periods Most credit card companies offer an interest-free period of around 45-50 days. This is the time from when a transaction is…

When planning an international trip, one of the biggest expenses is foreign transaction fees on credit cards. Many credit cards charge up to 3.5% as a forex markup fee on every international transaction, adding significantly to your costs. Fortunately, some premium credit cards in India come with zero forex markup fees, meaning you can enjoy your vacation or business trip abroad without worrying about extra charges on your card. Here’s a list of seven of the best credit cards for international travel that eliminate forex fees, along with some unique benefits to enhance your trip. 1. HDFC Bank Regalia ForexPlus…

Prepaying a home loan, whether fully or partially, can be a great way to save on interest costs and achieve financial freedom earlier. However, it’s essential to be aware of potential charges that lenders may apply and understand how prepayment terms work. This guide walks you through what prepayment means, types of charges you might face, and other key factors to consider before making an early loan repayment. What is Prepayment, and Why Consider It? Prepayment means paying off a part or all of your home loan before the due date. Many people choose prepayment to save on interest costs,…

Fixed Deposits (FDs) are a trusted investment option, especially for senior citizens, who prioritize stable returns with minimal risk. Many banks offer higher interest rates on FDs for individuals aged 60 and above. These FDs ensure guaranteed returns and help seniors grow their savings without worrying about market volatility. Banks typically provide an extra 0.50% to 0.75% interest to senior citizens compared to the general public. Let’s explore the best FD schemes available, benefits offered, and which banks are giving the highest returns. What Makes Senior Citizen FDs Popular? Senior citizens often prefer FDs for their safety, steady returns, and…

If you travel frequently for work or leisure, the right credit card can be a game-changer. Travel credit cards offer excellent benefits like air miles, airport lounge access, flight discounts, and even premium services that enhance your travel experience. Here’s a look at some of the best credit cards tailored for air travel enthusiasts. 1. Axis Bank Atlas Credit Card Annual Fee: ₹5,000 The Axis Bank Atlas Credit Card offers comprehensive travel rewards right from the first transaction. Perfect for those who spend often on travel and hotel bookings, this card helps you earn and redeem miles on purchases and…

Using a credit card can be convenient, especially for those new to the system, but if not used wisely, it can lead to trouble. Whether you’re shopping for Diwali or managing everyday expenses, credit cards offer perks like cashbacks, reward points, and short-term loans. However, with these benefits comes the responsibility of managing your spending wisely. Let’s take a closer look at five common mistakes new users should avoid to protect their credit score and avoid unnecessary debt. 1. Don’t Use Too Much of Your Credit Limit It’s easy to get carried away with spending when you have a credit…