Loan Guru
@Loanguruji
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Branch Manager | 10+ yrs in Loans & Deposits | Sharing banking tips, fixing credit scores & turning ‘loan rejected’ into ‘loan approved’!
India
Joined October 2024
Say Goodbye to Fund Transfer Mistakes! RTGS & NEFT Just Got Smarter. Ever sent money to the wrong account and panicked? 😱 Well, those days are over! Starting April 1, 2025, RTGS and NEFT will introduce a beneficiary name look-up feature. Here’s how it works: .1️⃣ Enter the
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RT @Loanguruji: You’ve just bought a property and think you’re ready to mortgage it for a loan?. Here’s the catch: the Bank doesn’t care ab….
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You’ve just bought a property and think you’re ready to mortgage it for a loan?. Here’s the catch: the Bank doesn’t care about the current market value. They’ll only consider the purchase price from your sale deed and not the current value—for 12 months.
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What’s the Real Cost of Your Loan? Hint: It’s Not Just the EMI. You’ve taken a loan. You’ve calculated the EMIs. You’ve budgeted everything down to the last rupee. But here’s the one thing you probably didn’t think about: What happens to your loan if you’re not around?. If
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Want to Open a Bank Account Without Documents? Here’s the Catch:. So, you want to open a bank account but don’t have the usual documents? No problem, the bank will open a Small Account for you. Sounds easy, right? Well, hold on—there’s a whole list of rules, and if you don’t
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ECS transactions are time-sensitive. It’s not just about the EMI date but also the time at which the ECS request is processed. Here’s what happens:. - The ECS request is typically processed early in the morning (sometimes as early as 2 AM to 6 AM) on the EMI date. - If your.
@Ravisutanjani ECS charges are applied when there is insufficient balance, but even if the EMI is paid on the same date manually, it still bounces. Is it the EMI date or the EMI time?.
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Lost Money in Forgotten Bank Accounts? RBI’s UDGAM Portal Has Your Back!. Ever wondered what happens to the money in your old, forgotten bank accounts? Or that fixed deposit you never renewed? . Well, here’s the deal—if your account has been inactive for 10 years, the money
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Opening an Account with Aadhaar OTP? Here’s Why It’s Not as Simple as You Think. Think opening a bank account with just an Aadhaar OTP is a shortcut? Think again. Sure, it sounds easy—no face-to-face meetings, no endless paperwork. But here’s the catch: these accounts come with
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Want a Home Loan? Here’s Why Your Building Plan is the Real MVP. So, you’re dreaming of building your own house and thinking about applying for a loan? Hold up. Before you even step into a bank, there’s one thing you absolutely need: an approved building plan. No plan, no
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KYC Policy: Why It’s Not Just Another Formality. Let’s get one thing straight—KYC (Know Your Customer) isn’t just some boring paperwork banks make you do for fun. It’s a global necessity. India, as a member of the Financial Action Task Force (FATF), has a responsibility to.
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It’s time to set the record straight ! Keeping aside SBI lunch hour jokes that that have been doing the rounds for years, let me drop some truth bombs on you. Contrary to popular belief, Banks don’t have a designated lunch hour where everything comes to a screeching halt. In.
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Lok Adalats, in their current form, are nothing but a sham. They’ve become a frustrating exercise in futility, especially for bankers. Imagine this: days wasted preparing files and coordinating for cases that are forced into the Lok Adalat system. Borrowers? They rarely show.
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Alright, listen closely. According to Section 194A of the Income Tax Act, 1961, banks must deduct tax at source (TDS) if the interest on your fixed or recurring deposits exceeds ₹40,000 in a financial year, or ₹50,000 if you're a senior citizen. This isn't a random.
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Timing is everything when it comes to avoiding TDS deductions on your deposits. Submitting Form 15G/15H at the start of the financial year is crucial to ensure you don't lose out on your savings. Don't let missed deadlines cost you. Here's why:
First of all, TDS is a government-mandated tax deduction. The bank is just following the rules set by the Income Tax Department. The bank is legally obligated to deduct TDS if the interest earned on an FD exceeds the threshold limit (₹40,000 for most individuals, ₹50,000 for.
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Just that you don’t have to go full WWE mode in the middle of the bank with the Bank employees again, this is the amount of TDS Bank will deduct on your various investments and payments👇
Kalesh b/w Bank Staff and Customer over TDS Deduction in Bank FD.
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As Bankers, we barely get new ₹10 notes to distribute to Public, yet the black market is flooded with bundles sold at a premium. If they’re not reaching Banks, how are they landing in the hands of black market operators? . Why is no one questioning this?
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Secure Your Family’s Future with the Latest Nomination Guidelines👇. Image credits: Mint and @ActusDei
Finally! Banks Let You Decide Who Gets Your Money – No More Outdated Nomination Rules!. The Banking Laws (Amendment) Bill, 2024 is passed in the Parliament. And let me just say this upfront: FINALLY! It’s about time someone fixed this outdated, overly complicated system. Let me.
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You want a loan? Forget agriculture for a second. The easiest way? . File your damn ITR. But here’s where people screw up big time. You show salary income in your ITR, but guess what? No salary is actually credited to your account, and you don’t even have salary slips to back.
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Let’s talk about the air quality, because this is where the comparison becomes downright depressing. In Indian metros:. - You’re basically breathing poison. The AQI (Air Quality Index) regularly hits levels that are considered hazardous to human health. - You need air purifiers.
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