Personal Finance

Bank of India raised repo based lending rate by 25 basis points to 5.50% and effective repo based lending rate from 8.10% to 8.35%, while mark up rate remains the same at 2.85%.

With inflation concerns and global risks pushing up crude oil prices, the RBI’s decision means borrowers are set to face higher costs. 

The RBI has raised the repo rate by 25 basis points to 5.50%. Here's how the rate hike could affect a Rs 50 lakh floating-rate home loan and a fresh Rs 50 lakh fixed deposit.

For borrowers, the rate hike could make retail loans, including car and home loans, more expensive. 

The RBI’s Monetary Policy Committee, which held its three-day meeting from Oct. 5 to 7, took the decision after reviewing aspects such as inflation and economic growth. 

Since the RBI has hiked the interest rate by 0.25%, this means that banks are likely to increase their lending rates by a similar margin.

Zerodha’s youngest customer is just 28 days old, after the infant’s parents opened a minor account and made the first investment a week later.

Planning your parents’ finances can help you manage your own money without stressing about any unexpected financial burden.

Portfolio diversification ensures that a poor performance in one segment does not affect your overall financial plans.

As a buyer you need to understand that there are different types of cover, prices and a lot of small details that you must check before getting a car insurance. 

The SIP date is often set around the time the salary is credited, allowing investors to take care of their investment before other monthly expenses.

To attain financial independence without depending on a salary, you need to focus on a few things such as an emergency fund, paying debts, etc.