Category: Personal Finance

How To Apply For BoB Home Loan With An Interest Rate of 6.50%?

Personal Finance

[ad_1]

Read More/Less


Benefits of BoB Home loans

Potential homebuyers looking for a new house loan with a low-interest rate of 6.5 percent can apply with Bank of Baroda to take advantage of special features and perks. Both resident and non-resident Indians are eligible for the Bank of Baroda’s home loan plan, and they may use it to purchase a plot, acquire an apartment, build their own home, or even modify their current dwelling.

Customers applying for a home loan with BoB can take advantage of various benefits such as low-interest rates, low processing fees, higher loan amount, free credit card, free accidental insurance, longer tenures, and easy top-up loans. The home loan amount that can be issued differs depending on the individual’s residence and employment or income status. For example, the maximum home loan amount in semi-urban and rural regions is Rs. 1 crore, whereas the maximum home loan amount in metros ranges from Rs. 5 crores to Rs. 10 crores, according to the lender.

The interest rate is adjusted monthly and is tied to the bank’s Baroda Repo Linked Lending Rate (BRLLR). The term of our home loans fluctuates depending on the loan amount and income of the borrower, with a maximum term of 30 years. On BoB home loans, there is also a moratorium duration, which can last up to 36 months only after the loan has been approved. Even collateral for home loans is also approved by the bank.

On the announcement of a reduction in home loans, Mr H T Solanki, GM- Mortgages & Other retail assets, Bank of Baroda said, “Bank always tries to offer the most competitive rates of interest on home loan and other retail loan products while making the process seamless and hassle free through our digital platforms and our dedicated teams. Our customers will get benefited from this offering in this festive season. With this reduced rate of interest, Bank of Baroda home loans are now offering the most competitive rates across categories for a limited period till 31/12/2021 .”

Eligibility required to apply for a home loan with Bank of Baroda

Eligibility required to apply for a home loan with Bank of Baroda

The home loans are available to all Indians, including residents and non-residents, between the ages of 21 and 70. The home loan is available to eligible borrowers for the following purposes:

  • Acquisition of a new or used home.
  • For the construction of a new home
  • Acquisition of a plot of land for the purpose of constructing a new home.
  • Paying back a loan from some other Housing Finance Company or bank.
  • With the floating rate option, the repayment period can be extended up to 30 years.
  • Reimbursement of the price of the particular land if purchased within 24 months.
  • At the time of home loan application borrowers can specify a co-applicant that can be husband and wife, father and son, mother and son, and so on.
  • Based on the location where property is scheduled to be constructed/purchased, the maximum loan to any particular applicant will be Rs. 10 crores per unit. Under the housing loan scheme, the bank will offer a loan up to 90% of the cost of the property for new houses/flats.

How to apply for a home loan with Bank of Baroda?

How to apply for a home loan with Bank of Baroda?

Customers with the required or valid documents can apply for a home loan online at Bank of Baroda. The bank offers a range of home loan schemes based on the needs of a borrower. BoB provides Baroda Home Loan, Baroda Home Loan Advantage, Baroda Home Loan Takeover Scheme, Home Improvement Loan, Baroda Pre-Approved Home Loan, Baroda Top Up Loan (Resident/NRIs/PIOs), Pradhan Mantri Awas Yojana, Baroda Home Suvidha Personal Loan, Interest Subsidy Scheme for Housing the Urban Poor (ISHUP), and Credit Risk Guarantee Fund Scheme for Low Income Housing.

Customers can visit https://www.bankofbaroda.in/personal-banking/loans/home-loan and click on “Apply Online” where they need to select “Home Loans” under the loans section. Now they are required to sign up for the home loan by entering their full name, email ID, mobile number, in order to proceed further.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

IMPS Transaction Limit Increased To Rs 5 Lakh From Rs 2 Lakh

Personal Finance

[ad_1]

Read More/Less


Planning

oi-Sneha Kulkarni

|

In its meeting held, the Reserve Bank of India increased the IMPS transaction limit from Rs 2 lakh to Rs 5 lakh.

The NPCI (National Payment Corporation of India) facilitates the Immediate Payment Service (IMPS), which is an instant money transfer service. Inter-bank transfers, which have become a popular method of moving payments, are made easier by IMPS.

IMPS Transaction Limit Increased To Rs 5 Lakh From Rs 2 Lakh

IMPS makes use of mobile banking to its greatest potential. Both the sender and the receiver receive text messages from the bank as alerts from the app as soon as funds are sent to the receiver. Both sides are relieved because they now know the true state of the deal.

Individuals can now send up to Rs 5 lakh through IMPS, which was previously limited to Rs 2 lakh.

How to Register for IMPS?

You must first sign up for the bank’s mobile banking service. The bank’s Mobile Money Identifier (MMID) and MPIN will also be required. They are also required for the recipient or beneficiary. If your bank has SMS IMPS, you can use the SMS facility in your phone or download the mobile banking application from your bank.

The first four digits of the Mobile Money Identification Number (MMID) are the unique identification number of the bank that offers IMPS.

IMPS Charges

Customers who use IMPS transactions are charged by their banks. However, depending on the type of account held by the user or the use of IMPS via Internet banking, certain banks offer IMPS for free.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Should You Invest In US Stocks: Dollar-Rupee Volatility Question

Personal Finance

[ad_1]

Read More/Less


Most of the Indian traders, who are engaged with the equity markets are interested in Indian company stocks, ETFs, or government bonds. Domestically, the NIFTY and SENSEX are at bullish positions now; both long-term and short-term investors are making profits. But why the question of US stock is getting attention now? The reason is especially the market volatility of stock exchanges, and diversifying the risks.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

RBI Keeps Policy Interest Rates On Hold for 8th Consecutive Time

Personal Finance

[ad_1]

Read More/Less


Investment

oi-Sunil Fernandes

|

The Reserve Bank of India (RBI) in its third bi-monthly monetary policy for FY22 left policy interest rates or repo rates unchanged. With this, the repo rate remains at 4%, while the reverse repo rate remains unchanged at 3.35%.

This was largely in line with expectations from analysts and economists. The Monetary Policy Committee (MPC) also decided to keep the policy stance accomodative, by a 5:1 majority.

RBI Governor Shaktikanta Das in the previous MPC meet decided to keep the repo rate unchanged and continue with the accommodative stance as long as necessary to support growth. Since March 2020, RBI has slashed repo rates to a record low of 4 per cent through two rate cuts of 75 bps in March 2020 and 40 bps in May 2020.

According to Emkay Global, the the RBI has been contending with dilemmas on managing its liquidity stance since Covid first struck last year amid robust FX flows and elevated inflation pressure.

RBI Keeps Policy Interest Rates On Hold For 8th Consecutive Time

“Surplus liquidity has not necessarily percolated well across the curve or segments of the rates market amid asymmetric gains in credit markets and risks of rerouting of surplus liquidity and excessive risk-taking in other asset classes. It is arguably correct that, amid an imminent recovery, such high system liquidity may not be warranted,” the brokerage had said in a recent report.

Stock markets were largely expecting the policy decision and the sensex was up more than 360 points, crossing the 60,000 points mark.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Bank of Baroda Extends Special FD Scheme For Senior Citizens Till 31st March 2022

Personal Finance

[ad_1]

Read More/Less


Benefits for senior citizens

BoB is honoring senior people by giving special offers such as higher interest rates on FDs, complimentary services under Doorstep Banking, and concessions under the Senior Citizen Privilege Account, among other initiatives to honour senior citizens on behalf of the occasion of “International Day for the Elderly” on October 1, 2021.

They can also use Video KYC on BoB World to set up an account from the comfort of their own home. Conveying his wishes for a happy, healthy & long life to all senior citizens on the occasion of International Day for the Elderly, Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda said, “Bank of Baroda has always been at the forefront to give the best of services and is continuously enhancing its product offering to Senior Citizens. Covid Pandemic has severely affected all segments, particularly the senior citizens who are most vulnerable and dependent on the interest rate earning from fixed deposits. Taking care of the elderly is an integral part of our country’s ethos and we are happy to take this tradition forward by strengthening our offerings and services to best suit the needs of our senior citizens.”

Bank of Baroda FD Rates For Senior Citizens

Bank of Baroda FD Rates For Senior Citizens

The Bank of Baroda is presently offering an additional rate to resident senior citizens with deposits of less than Rs.2.00 crores at a rate of 0.50 percent for deposits maturing in less than 5 years and 1.00 percent for deposits maturing in 5 years to up to 10 years. This offer is valid until 31.03.2022. The following are the Bank of Baroda fixed deposit interest rates for senior citizens, which are in force from November 16, 2020.

Tenors Interest rates in % p.a.
7 days to 14 days 3.3
15 days to 45 days 3.3
46 days to 90 days 4.2
91 days to 180 days 4.2
181 days to 270 days 4.8
271 days & above and less than 1 year 4.9
1 year 5.4
Above 1 year to 400 days 5.5
Above 400 days and upto 2 Years 5.5
Above 2 Years and upto 3 Years 5.6
Above 3 Years and upto 5 Years 5.75
Above 5 Years and upto 10 Years 6.25
Source: Bank Website, (w.e.f. 16.11.2020)

Bank of Baroda FD Rates For Regular Customers

Bank of Baroda FD Rates For Regular Customers

For a deposit amount of less than Rs 2 Cr, BoB is offering the following interest rates to the general public on their deposits maturing in 7 days to 10 years.

Tenors Interest rates in % p.a.
7 days to 14 days 2.8
15 days to 45 days 2.8
46 days to 90 days 3.7
91 days to 180 days 3.7
181 days to 270 days 4.3
271 days & above and less than 1 year 4.4
1 year 4.9
Above 1 year to 400 days 5
Above 400 days and upto 2 Years 5
Above 2 Years and upto 3 Years 5.1
Above 3 Years and upto 5 Years 5.25
Above 5 Years and upto 10 Years 5.25
Source: Bank Website, (w.e.f. 16.11.2020)

Bank of Baroda Tax Savings Term Deposit

Bank of Baroda Tax Savings Term Deposit

BoB also allows tax savings term deposit with no premature withdrawal option and with a lock-in period of 5 years. Under this kind of deposit, senior citizen rate is also applicable for resident Indian senior citizens. BoB is currently offering an additional interest rate of 0.50% for all tenors in below 5 years and 1.00% for tax savings term deposits maturing in above 5 years to up to 10 years and valid till 30.09.2021. Customers who withdraw deposits worth more than Rs.1.00 crore prematurely must provide the bank with 31 days’ notice and pay a penalty of 1.5 percent of the relevant rate of interest for the period the deposit is maintained with the bank. The most recent interest rates on tax savings term deposit of BoB are listed below.

Tenors Deposit [Per Annum] less than Rs 2 Cr. Sr. Citizen(w.e.f 16.11.2020)
For 5 years 5.25 5.75
Above 5 years to up to 10 years 5.25 6.25
Baroda Tax Savings Term Deposit (w.e.f. 16.11.2020)



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Best 5 Auto Ancillary Stocks To Buy As Suggested By Emkay Global

Personal Finance

[ad_1]

Read More/Less


Buy Apollo Tyre with upside potential of 37%

Emkay Global suggests buying the stock of Apollo Tyre for a target price of Rs. 305 per share, i.e. an upside of over 37 percent from the last traded price of Rs. 222.

The APMEA (20%) and Europe areas will drive revenue growth (3 percent ). Despite the greater size, EBITDA margins should fall due to delays in commodity inflation pass-through.

Exide Industries

Emkay Global suggests buying the stock of Exide Industries for a target price of Rs. 4,420 per share, i.e. an upside of over 17 percent from the last traded price of Rs.3771.

Replacement and industrial markets should drive revenue growth. Due to a favorable base, the company should outperform AMRJ in terms of sales growth. Despite the greater size, EBITDA margins should fall due to delays in commodity inflation pass-through.

Buy Motherson Sumi with upside potential of 34%

Buy Motherson Sumi with upside potential of 34%

Motherson Sumi‘s stock is recommended by Emkay Global with a target price of Rs. 300 per share, representing a gain of almost 34% over the latest traded price of Rs.224.

Total revenues are likely to fall due to poor performance in the SMR PBV sector (-20 percent yoy). In comparison, the solo (22 percent) and PKC (42 percent) categories are predicted to increase at a good rate. Due to lower scale and delays in commodity inflation pass-through, the EBITDA margin may fall.

Buy Bharat Forge with upside potential of 27%

Buy Bharat Forge with upside potential of 27%

Emkay Global has set a target price of Rs. 920 per share for Bharat Forge’s stock, reflecting a gain of over 27% over the current market price of Rs.722.

Domestic CVs (115 percent yoy), foreign CVs (189 percent), and overseas industrials should all see considerable growth (77 percent ). Despite a lag in commodity inflation pass-through, we estimate EBITDA margin expansion due to increased scale.

Buy Minda Industries with potential of 14%

Buy Minda Industries with potential of 14%

Emkay Global has set a target price of Rs. 840per share for Minda Industries’s stock, reflecting a gain of over 14% over the current market price of Rs734.

Growth in sectors such as Castings, Seating, Switches, and Others (sensors, etc.) will boost total revenue growth. Acoustics and lighting systems, on the other hand, are expected to decline. EBITDA margins may decline, owing to delays in commodity inflation pass-through and increasing personnel expenses.

5 Auto Ancillary Stocks To Buy As Suggested By Emkay Global

5 Auto Ancillary Stocks To Buy As Suggested By Emkay Global

Stocks Current market price Target price Likely gains %
Apollo Tyres Rs 222 Rs 305 37%
Exide Industries Rs 179 Rs 210 17%
Motherson Sumi Rs 224 Rs 300 34%
Bharat Forge Rs 722 Rs 920 27%
Minda Industries Rs 734 Rs 840 14%

Disclaimer

Disclaimer

The investment ideas are picked from Emkay Global Auto report. Investors should note that investing in stocks is risky and neither the author, nor Greynium Information Technologies Pvt Ltd, nor the brokerage would be responsible for losses based on a decision from the above article.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Cryptocurrencies rebound 10-fold since last yr, despite tough steps from China, India, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


Cryptocurrencies have rebounded with a total market value of $2.2 trillion in late September, despite tough restrictions imposed by countries like China and India, according to report by DBS Group Research.

This is a ten-fold increase since the beginning of last year. The launch of several digital asset exchanges, rollout of innovative wallets, changes in mining technology and wide issuance of stablecoins have kept the momentum strong for crypto, the report said.

Also read: China announces cryptocurrency bank – what does it mean for India?

Countries like India and China are keeping a close eye on crypto assets, as the scale and scope of this asset class are large enough to have systemic implications, it said.

Multiple reasons for the ban have been cited by the governments, such as security and governance, consumer protection, surveillance gap and monetary policy efficacy.

Also read: What are stablecoins, and how stable are they?

China’s central bank, in the last week of September, declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. This was the second time the government announced a ban on crypto.

In March, it was reported that India would propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets. This, again, is not the first time when India is declaring its inhibition towards adopting crypto.

The resilience of crypto assets after the ban suggests that the market impact of China’s opposition to crypto could be declining. Year-to-date, Ether is outperforming Bitcoin by 400% in price return terms.

The ban has also led miners to migrate their businesses to crypto-friendly locations, which can offer cheap, reliable and greener sources of electricity, the report said.

Kazakhstan, US and Russia are some of the preferred locations.

According to experts, China’s ban was likely because the government wants to remove competition for its digital yuan. Adding to this, India’s Reserve Bank of India has also said that it was eyeing a phased implementation of its central bank digital currency (CBDC).

Also read: RBI eyes phased implementation of CBDC, will work in unison with payment infra, says RBI’s Ranjan

CBDC adoption will help drive future usefulness, acceptance by merchants and improve cross-border payments, according to banking regulators.

However, there is still a lot of time for countries to roll out their CBDCs. To maintain stability, CBDCs would need to have a careful design and implementation, the report said.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , , ,

4 Stocks To Buy And Sell For Short Term Gains

Personal Finance

[ad_1]

Read More/Less


Domestic markets stay strong

“Domestic markets are holding up strong on the back of several positive factors like rating outlook upgrade, strong pre-quarterly data and healthy commentary from corporates for the festive season. Although volatility has increased due to global factors as well as elevated valuations. Q2 result season would officially start with TCS numbers on Friday. Also RBI’s monetary policy meeting decision is due on Friday. In this environment of global uncertainty and sector specific action, Investors should make use of small dips in the market to accumulate fundamentally strong stocks,” Khemka says.

4 stock ideas for short term traders for Oct 8

4 stock ideas for short term traders for Oct 8

1) Dr. Ravi Singh, Head of Research & Vice President, ShareIndia

ICICI BANK: Buy the stock at Rs 702, Target on the stock at Rs 715, Stop loss at Rs 695.

HINDALCO: Buy the stock at Rs 477, Target on the stock at Rs 488, Stop Loss Rs 474

2) Manoj Dalmia, Founder and Director, Proficient Equities Private Limited

ABAN OFFSHORE: Buy the stock at Rs 54, TARGET Rs 61, Stop Loss Rs 51.50

3) Ravi Singhal, Vice chairman, GCL Securities Limited

TRENT: BUY the stock at Rs 1111, Stop Loss Rs 1077, Target Rs 1144

Disclaimer

Disclaimer

The stocks recommended above are based on the recommendations of technical analyst. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the analysts are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

7 Stocks From The Oil And Gas Sector On Sharekhan’s Buy List

Personal Finance

[ad_1]

Read More/Less


Stocks from the oil and gas sector to buy according to Sharekhan

Current market price Target price to buy for
Reliance Industries Rs 2,587 Rs 2,700
Petronet LNG Rs 230 Rs 285
Mahanagar Gas Rs 1,077 Rs 1,450
IOCL Rs 132.70 Rs 150
HPCL Rs 322 Rs 340
GAIL Rs 162 Rs 196
Gujarat Gas Rs 625 Rs 890

City gas distribution companies to do well

City gas distribution companies to do well

According to Sharekhan, the City gas distribution companies (excluding Gujarat Gas) are likely to report strong earnings growth y-o-y, led by sharp volume growth and strong margin and gas utilities (especially GAIL) would benefit from substantial improvement in profitability of gas marketing business and volume growth across segment.

“Oil marketing companies earnings performance is expected to be mixed as sharp recovery in refining & marketing margins would get largely offset by lower inventory gain, subdued refinery utilisation for HPCL and sequential moderation in petchem margin for IOCL. Upstream PSUs (ONGC and Oil India) are likely to report high earnings growth led by increase in oil price and lower operating cost. We expect Reliance Industries’ (RIL) earnings to grow by 9% q-o-q led by mode,” the brokerage has said.

Oil marketing companies to be a mixed bag

Oil marketing companies to be a mixed bag

According to Sharekhan, oil marketing companies like IOCL, BPCL and HPCL core earnings will witness significant improvement as gross refining margins are on recovery mode (Singapore complex GRM up 76% q-o-q to $3.7/bbl) and diesel/petrol marketing margin expected to improve sharply to Rs. 5.6/Rs. 3 per litre versus only Rs. 4.1/Rs. 1 per litre in Q1FY22.

“However, on reported basis the performance would be mixed due to lower inventory gains q-o-q, weakness in HPDE margin on higher naphtha price for Indian Oil Corporation and subdued refinery utilisation for HPCL.

We expect IOCL/BPCL/HPCL PAT to witness -4%/30%/7% q-o-q earnings growth in Q2FY22. For Reliance Industries, we expect net profits to increase by 9% q-o-q to Rs. 13,324 crore led by modest growth in the oil to chemicals business as higher gross refining margins to get offset by lower petchem margin, decent performance by Jio supported by 4%/1% q-o-q increase in subscribers/ARPU to 460 million and Rs 140 per month respectively and strong q-o-q retail EBITDA growth led by demand recovery,” the brokerage has said.

HPCL and BPCL preferred stock picks from the OMC space

HPCL and BPCL preferred stock picks from the OMC space

“We prefer HPCL and BPCL among oil marketing companies given cyclical earnings recovery and potential re-rating on successful privatisation (expected by March 2022) of BPCL. We prefer GAIL and GSPL among gas utilities, as it is a play on rising domestic gas demand and is available at attractive valuations,” the brokerage has said.

Disclaimer

Disclaimer

The stocks recommended above are taken from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the analysts are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.



[ad_2]

CLICK HERE TO APPLY

Leave a comment
1 … 82 83 84 85 86 … 387