The Vibe Journal: Finance Blogs

No, you will not go to jail simply for defaulting on a personal loan in India. That fear and it is a very common one; is not grounded in law. Personal loan default is a civil matter, that’s it. Lenders can chase you through courts, report you to credit bureaus and in some cases seize collateral.   But handcuffs? Not for a missed EMI.   There …

A personal loan for corporate employees is an easily accessible and popular credit option. This unsecured loan is customised for employees of large organisations so that you can get it quickly and affordably. Whether you are a government employee or working at an MNC, you can manage sudden and planned expenses without burdening your budget …

Choosing tax-saving investments has dual benefits: You can choose from various government and private options, which allow you to invest as per your goals and availability.  However, before you decide on any investment option, there are two important strategies you must consider: Read on to learn about top investment options, how much investment is needed …

Smart financial planning is crucial for all young professionals because of fluctuating financial standing and inflation rates. Doing so enables you to:  Save for financially demanding times Build a fund for retirement Grow your wealth Saving from your income Invest additional funds regularly Build better saving habits Provide security against inflation and more With these …

Merchant banking is a crucial aspect of the financial ecosystem. Currently, there are over 200 SEBI-registered merchant banks that provide a wide range of services to their clients. These banks are very different from regular banking and from other financial institutions in several ways.  They provide services to large/mid-size businesses, high-net-worth individuals (HNIs) and institutional …

WhatsApp banking lets you access basic banking services such as balance enquiry, mini statements, account updates, service requests and customer support directly on WhatsApp. You generally need to save your bank’s official WhatsApp banking number, send ‘Hi’ from your registered mobile number and choose a service from the chat menu.  It is useful for quick, everyday banking queries, but it does not replace your …

A Vostro account allows banks to extend their services to customers when they are travelling abroad. Since a bank can’t have branches in every city of every country, this is an effective solution that helps customers residing outside the country.  Knowing about these banking services allows you to choose and open an account in a …

Wondering, ‘Can I transfer money from an ATM?’, the answer is yes and this option can come in handy when you don’t have internet access and don’t want to make a branch visit.  Moreover, it’s an easy process very similar to withdrawing cash. That’s not all. Most banks also provide a plethora of services, making …

mPassbook or mobile passbook is a facility banks provide to their customers, allowing them to keep track of their accounts. It connects your savings account or current account to your mobile, allowing you to access your statement of account instantly and remotely. This means you can know your account status anytime, without making any branch …

Cheque bounce charges are a penalty that you must pay when the cheque fails to provide the promised amount. Writing a cheque is an agreement to pay the mentioned sum bound by the law. So, when you cannot honour it, these charges are a result.  This may happen when your cheque payment is not cleared …