The Danger of Interest Rate Rises
Interest rate rises, even if they’re just increased by one quarter of a point, can have a devastating effect on homeowners. When a lot of people decide that they can afford a mortgage, they simply factor in the cost of their monthly mortgage payments as quoted at the time into their overall monthly expenditure so when interest rates suddenly rise, their incomes don’t and this can have a profound effect on their ability to balance the books in their budget. Read more
Make Your Big Purchases Intelligently With Secured Loans
Big and lavish purchases mean requirement of a large sum of money. Purchasing a car, renovating your home, arranging for an exotic holiday or meeting expenses for higher education…all require a big amount of cash. These needs may be in your priority list. However, you may be forced to postpone them owing to shortage of finances. Read more
Secured Loans: The Right Solution For You?
The Problem: You’re a recent university grad who needs a means of transportation but doesn’t have the down payment to purchase an automobile “outright”.
The Problem: You want to make updates and repairs to your home, but you prefer not to put the cost of the improvements on a high-interest credit card. Read more
Banks and Money
Basic Functions of Banking
The basic functions of banking are:
- The collection of funds from the public.
- The safeguarding of those funds.
- The transfer of those funds from one person to another without their leaving the bank (this is done by means of cheques or automatic transfer through the banking system, or via the Internet etc)
- The lending of that money to other parties for a return or reward called interest. Read more
That Cheap Loan We All Crave For
We are wastrels by nature. Our proclivity to spend is inherent in us. If we have to put personal savings aside and run to the bank to secure the moolah (read loans) to sustain our prodigal lifestyle, we would. But, we are optimisers too – cheaper the loan the better. Finding loans nowadays is uncomplicated. Finding cheap loans is a little like sifting fine grain from the finest grain. There is an expansive array of loans to pick from; and most are cheap. That is the whole purpose behind the loan phenomena; they have to be customer friendly. And customers like cheap. Cheap loans can be classified in varied ways: in terms of interest, repayment term et al. Read more