Bajaj Housing Finance Limited, a wholly owned subsidiary of Bajaj Finance Limited, announces an extension of its festive offer. The lender’s festive home loan interest rate, starting at 6.65% per annum, is now valid for eligible applicants who apply through the official website until February 28, 2022. In an industry-first initiative, the HFC is also […]
New Delhi: Bajaj Housing Finance Limited, a 100% subsidiary of Bajaj Finance Limited, announces an extension of its festive offer. The lender’s festive home loan interest rate, starting at 6.65%* per annum, is now valid for eligible applicants who apply through the official website until February 28, 2022. In an industry-first initiative, the HFC is […]
Previous story: Pernod Ricard India accelerates its focus on diversity and inclusion Bajaj Housing Finance Limited extends the validity of its interest rate on festive home loans, starting at 6.65%* per annum, until February 28, 2022. Posted on February 17, 2022 New Delhi : Bajaj Housing Finance Limited, a 100% subsidiary of Bajaj Finance Limited, […]
Kevin Stent / Stuff Nicola Willis is calling on the government to pass legislation to quickly address the unintended consequences of new responsible lending regulations. National has drafted legislation that it says could undo the damage new responsible lending regulations have done to borrowers’ chances of getting a home loan. National Housing spokeswoman Nicola Willis […]
(Eds: Disclaimer: The following press release is provided to you under an agreement with PRNewswire. PTI assumes no editorial responsibility for it.)NEW DELHI, Jan. 14, 2022 /PRNewswire/ — Against the backdrop of the RBI task force’s revelation that it had identified over 600 fraudulent loan applications, it’s pertinent to understand what the warning flags of […]
NEW DELHI, Jan. 14, 2022 /PRNewswire/ — Against the backdrop of the RBI task force’s disclosure that it had identified over 600 fraudulent loan applications, it’s pertinent to understand what the warning flags of basis which should set off a red flag for any potential borrower. The same sentiment is also shared by SimplyCash (the […]
NEW DELHI, January 14, 2022 /PRNewswire/ — Against the backdrop of the RBI task force’s disclosure that it had identified over 600 fraudulent loan applications, it’s relevant to understand what are the basic warning signs that should alert any borrower potential. The same sentiment is also shared by SimplyCash (the instant personal loan app powered […]
By Express press service HYDERABAD: The Enforcement Directorate (ED) has provisionally tied over Rs 72.32 Crore deposits lying in various bank accounts and payment gateway accounts of M/s Kudos Finance and Investments Private Limited, a non-bank financial company India (NBFC), and its various financial technology (Fintech) partner companies, in the context of Chinese business on […]
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Customer service in banks is under the spotlight. Photo/Getty Images Mortgage advisers have criticized some banks for their “terrible” customer service and the time it takes to process home loans. An adviser said that a bank had not taken out a mortgage for 27 days. Banks surveyed by NZME say the Credit Agreements and Consumer […]
By- Kritika G Everything is done today in a snap of the fingers. Long queues, bulky application forms, a large amount of waiting time, everything sort of spins into extinction. The way we do our banking today is nothing like it was ten years ago. It’s more paperless, it takes less time, there are no […]
Over the past few years, the rise of fintechs has changed many people’s approach to banking. Besides payment services, people have also started to use fintech apps for instant personal loans. While traditional banks take days (sometimes even weeks) to process personal loan applications, fintechs provide funds with just a few clicks. However, meeting certain […]
Navigating a home loan application can often be a long and complicated process. Often times after the stressful and trying hours you have spent, you can still be rejected. A survey by Digital Finance Analytics found that around 40% of home loans were rejected as of December 2018. A mortgage is a long-term commitment and […]
New Delhi: According to a recent estimate by the Reserve Bank of India, there are over 1,100 online loan applications available in India on various internet platforms. Surprisingly, over 600 of these apps for Android users in India were illegal and they were distributed to over 80 app stores. A task force established by the […]
The Reserve Bank of India, in a recent report, found that in India about 1,100 online loan applications exist on Internet platforms. However, shockingly enough, as many as 600 of these apps for Android users in India, operating in over 80 app stores, were illegal. Proposing stricter regulations for these digital lending apps, a task […]
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Taking a personal loan makes it easier to realize your dreams and also to finance emergencies. Are you about to apply for an instant loan for the first time? This article explains the most important factors you need to know about the loan: * Your credit score and your eligibility are important. Although the personal […]
Taking a personal loan makes it easier to achieve your dreams and also to finance emergencies. Are you about to apply for an instant loan for the first time? This article explains the most important factors you need to know about the loan: Your credit score and eligibility are important Although the personal loan is […]
Amit Sachdeva wanted to buy a family home in Noble Park, in the south-eastern suburb of Melbourne. The three-bedroom house was within walking distance of her six-year-old’s school and “beautifully built.” Sachdeva and his wife both work full time and have an existing mortgage with ANZ after refinancing their CBA mortgage last year to take […]
Apart from the online application aspect, applicants also benefit from all the features of a home loan from Bajaj Housing Finance. Most Indians rely on a home loan to make their dream home a reality. High real estate prices have almost made home loans a necessity for most people in the middle income segment to […]
Today, many bad credit borrowers do not turn to traditional lenders when they need to borrow money. This is because their chances of getting a loan from traditional banks and credit unions are slim to none. Traditional lenders have strict credit requirements, and people with bad credit are usually turned down from their loan applications. […]
Perhaps one of the most disheartening aspects of borrowing a home loan is how long it can take to start the process. Whenever we think of home loans, most of us still think of the multitude of documents, the series of phone calls and the insistent branch visits. However, to improve your borrowing experience, the […]
Just as many other banks have done in the past month, it announced today that it has reduced the interest rate on its home loan for a limited period during the holiday season. Bank of Baroda has announced that it has reduced its mortgage interest rate to 6.5% effective October 7, 2021. The special mortgage […]
Shikha, 40, mother of two, is an IT professional. She has lived with her parents since her husband died five years ago. She thinks the time has come to buy her own house. She has approached lenders for a home loan and must choose between a fixed rate loan and an adjustable rate loan. Which […]
The State Bank of India (SBI) offers different types of home loans. These include Regular Home Loan, SBI Privilege Home Loan for Government Employees, SBI MaxGain Home Loan, SBI Smart Home Home Loan, Complementary Loan for Existing Customers, SBI NRI Home Loan, Home Loan SBI FlexiPay for a loan of a higher amount and the […]
To get approval for home loan applications, borrowers must meet certain requirements. In addition to the documents that must be submitted, lenders expect borrowers to meet other loan conditions. How you meet these criteria determines the applicable interest rate for you. If your profile scores high or extremely high on certain parameters, especially credit score, […]
Obtaining a loan for personal or professional purposes has become a more transparent process; with a smartphone and an internet connection, anyone with a bank account can apply for a loan at any time and receive it instantly in most cases. Some loan companies even allow you to use a multifunction phone by dialing a […]
Taking out a home loan is never an easy proposition as you get older. Living a comfortable life after retirement is a dream for many, and many want the same to be experienced in their own homes. Although mortgage rates are at their lowest, with some banks and lending institutions offering loans at nearly 6.90% […]
HYDERABAD: Six months after Hyderabad police filed criminal case against representatives of mobile apps offering high-interest loans – allegedly harassing defaulting debtors by defaming them – days ago , the police filed an indictment against the defendants, including those arrested. Chinese national Zhu Wei alias Lambo, in front of the Nampally Criminal Court. Cybercrime detectives […]
The Enforcement Directorate (ED) issued a provisional seizure order under the Prevention of Money Laundering Act 2002 (PMLA) tying Rs. 76.67 Crore, lying in various bank accounts and payment gateways regarding Chinese loan application companies and their Indian associates, the agency said in a statement on Tuesday. The federal agency had opened an investigation on […]
While other lenders struggle with long turnaround times and clunky approval processes, fintech Nano has launched a new home loan where loan approval is granted on the spot. What’s the catch? The new home loan is offered by Nano, which is “not a traditional lender,” co-founder Andrew Walker told Finder. “It is a financial technology […]
In India, the purchase of a house is the biggest investment made by an individual during his life. As our families grow, we plan for the future and plan to invest in larger homes that can comfortably accommodate and protect a growing family. However, these dream homes come at a significant cost, guarantee access to […]
The Hindi films of yesteryear portrayed the pawn shops as evil characters, whose sole purpose in life was to torture the righteous hero who is unable to repay the loan his father took. A little later, they declared that bank loans are not available to everyone, so poor villagers are trapped in the hands of […]
Thane: The Thane Police Tuesday warned citizens against several loan applications available on google Play at the store and urged them to be careful when registering. In a notice published by the Thane Police Department officials have informed that in recent times several apps have appeared in app stores, which claim to provide loans to […]
Applying for a home loan has long been tedious, but advancements in FinTech are rapidly transforming the way we apply and use these loans. Of all the steps in the loan application process, obtaining the sanction letter is the most crucial as it finalizes the maximum loan amount and other key details. Technology has shortened […]
Government banned 27 undisclosed digital lending apps in light of multiple cases of conduct violation The Department of Electronics and Information Technology (MeitY) banned 27 undisclosed digital lending / lending applications after receiving a request from the Home Office for the same. The ban was carried out under section 69A of the Information Technology Act […]
Hyderabad: Another person was arrested Thursday by Hyderabad Cybercrime Police in connection with the instant online loan fraud case. So far, 21 people, including a Chinese national, Zhu Wei alias Lambo, have been arrested in the case. The person arrested on Thursday was identified as Chinnabba Rajashekar (27) from Mahadevpura in Bangalore, who is the […]
You should be familiar with the instant loan messages that appear on your phone with almost everyone. In today’s generation, everyone needs a loan to maintain a certain lifestyle and that makes that person click on such potentially dangerous links and then later they worry about it when his bank account is emptied. In order […]
Google has so far removed about 100 instants loan applications of his Play store in the country who have been involved in the alleged collection of personal data and its misuse, fraudulent and illegal practices of physical threats and the use of other coercive methods for loan collection, according to the Department of Electronics and […]
New Delhi: So far, Google has removed around 100 instant loan apps from its PlayStore in the country that were involved in the alleged collection of personal data and its misuse, fraudulent and illegal practices of physical threats and the ‘use of other coercive methods for loan recovery, according to the Ministry of Electronics and […]
Releasing the case on March 18, the court also ordered the police to file a progress report on the sanctioning of loans by instant loan applications and recorded cases. Representative image. AFP Hyderabad: Telangana High Court on Thursday ordered state police to take immediate and necessary action against app-based instant money lenders accused of harassing […]
Instant loan apps, which lend money in a jiffy with no paperwork, scam thousands of people in Bangalore every day. They are mostly of Chinese descent and are managed with the help of Indian call centers and rogue recovery agents. “The eight cybercrime police stations in Bengaluru regularly receive calls about loan application fraud making […]
Hyderabad: A month after Telangana police began cracking down on illegal instant loan applications following the suicide of five people, the investigation showed a deeper Chinese connection to the scam. After arresting at least four Chinese nationals for using illegal apps, cops are now investigating the roles of other Chinese. In the latest incident, Cyberabad […]
Police arrested directors and managers of three companies who harassed the victim. Cyberabad police arrested three people on Friday for harassing an instant loan application defaulter, resulting in his death by suicide. A victim of harassment, Chandra Mohan, 36, took 80,000 rupees on 11 instant loan applications, but found himself paying more than 2 lakh […]
Google India recently reviewed several personal loan apps on its Play Store and removed those that violated its user safety policies. Recently, several applications that do not appear to be governed by any regulations have appeared online. These apps require basic information from customers and make loans a snap. With these loan applications, says Suman […]
HYDERABAD: Chinese national Zhu Wei alias Lambo, who was arrested in the instant loan applications case, told Hyderabad police that he had met Yuan Yuan alias Jennifer, the key person behind four loan companies different snapshot, via a social media discussion group operated by Chinese nationals residing in India. During his in-custody interrogation, Lambo said […]
Google India on Thursday removed several instant loan apps from the Play Store for violating its user security policies and is examining hundreds of similar apps for violating the terms of its Android platform, used by 96% of smartphone users in the country. Many of these app-based lenders were attempting to salvage a pile of […]
Instant loan apps offer quick and easy loans without collateral, but many such apps operate without any regulatory oversight. In fact, some of these apps turned out to be run by Chinese nationals, processing transactions worth millions of dollars. The latest arrest in such a case was made by Rachakonda police in Telangana on January […]
Telangana police have arrested another Chinese national in connection with the ongoing investigation into the instant online loan applications case. Rachakonda Police Commissioner Mahesh Bhagwat, speaking to media on Wednesday, said HE Jian, alias Mark, 26, from Jiangxi, China, was arrested in Thane, Maharashtra. Jian has been living in India since July 2018 on a […]
WN Lifestyle Home – Silver Tuesday January 12, 2021, 5:43 am CST Sponsored: Advertising content Photo by Karolina Grabowska Do you weigh the pros and cons of a personal loan versus an installment loan? Each type of loan has bonuses and drawbacks. For example, payday loans generally have shorter terms than installment loans. In addition, […]
The State Bank of India (SBI) has warned against loans offered by unauthorized digital platforms, with mobile apps promising a quick and hassle-free process. “Beware of fraudulent instant loan applications! Please do not click on any unauthorized links or provide your details to an entity masquerading as SBI or any other bank. Visit https://bank.sbi for […]
While investigating the case, police discovered that the loan application servers were based in China. They raided four companies in Bengaluru – Mad Elephant Technologies, Borayanxy Technologies, Profitise Technologies and Wizzpro Solutions – and arrested two people, including a finance director and a human resources manager. The directors of three of these four companies were […]
The ED has looked into suspected cases of instant loan sanction fraud via mobile apps, recently reported by Telangana and Tamil Nadu, as part of its investigation into money laundering in an online betting scam rated at over of 1,100 crore rupees, official sources said. Monday. At least five people, including a software engineer, are […]
The Chinese nationals ran the call center with the help of the two Indians. (Representative) New Delhi: The ED has looked into suspected cases of instant loan sanction fraud via mobile apps, recently reported by Telangana and Tamil Nadu, as part of its investigation into money laundering in an online betting scam rated at over […]
A 36-year-old man in Hyderabad reportedly ended his life on Saturday, unable to endure the harassment and humiliation associated with non-payment of instant loans obtained through online applications. G Chandra Mohan, who worked as a supervisor in a supermarket, is Telangana’s fifth victim in the instant loan application in less than a month. He was […]
An employee of the Telangana Department of Agriculture and a software engineer committed suicide last week after being humiliated and blackmailed by callers and recovery agents from an instant mobile app loan company. Their personal data was posted by the company on social media and labeled them as failing and used abusive language. What is […]
Hyderabad police have arrested a Chinese national at Delhi International Airport as part of their investigation into illegally operating instant loan applications. Zhu Wei, from Jiangxi, China, was arrested as he tried to leave the country on Wednesday. He is the third Chinese national arrested by Telangana police in this case. A statement by co-commissioner […]
DS Aravind, a Hyderabad resident, borrowed Rs 3,500 from an instant loan app in November, but the finance company, MyBank app, disbursed Rs 2,600 after deducting processing fees and interest. As Aravind repaid on time i.e. one week, the company unlocked more features for him and he furthermore borrowed Rs 30,000, for which he was […]
Taking seriously various mobile app companies that offer instant loans, Telangana Police said on Friday that there are at least 60 such loan applications available on the Google Play Store that are not registered or recognized by the Reserve. Bank of India as NBFC and their operations were illegal. Telangana DGP office response comes in […]
Every once in a while a financial emergency arises – a car in need of repair, a home appliance that has gone bad and needs to be replaced, a school project, travel funds, or a sudden illness in the family. These and other scenarios often require you to turn to your wallet or savings account […]
As a new wave of innovation in the industry, Fintech has helped many clients improve their experience as they need financial services in general. Either way, as usual, people should always do their own research in order to find the best products available in the market. Among other things, this also happens when we talk […]
The exhilaration of finally owning your dream home is one of life’s most celebrated moments. However, the reality of finding and settling in a dream home is a long road – a rocky road to finding a bank, getting mortgage approval, and all the tedious frustrations that come with those steps. This could be a […]