Understanding GST in simpler terms

Understanding GST in simpler terms

Understanding GST in simpler terms RISHI JARYAL || India is home to nearly 1.3 billion people that makes it the second most populous nation in the world. With this huge population comes great responsibility. Of course handling this much population is quite a difficult task… isn’t it? India also is the fastest growing economy in […]

Paytm Payments Bank Launched, Earn 4% interest for your money

Paytm Payments Bank Launched, Earn 4% interest for your money After Airtel payments Bank, now Paytm, India’s most used mobile wallet, has launched Paytm Payments Bank. Paytm had decided to launch its Payment Bank last year near Diwali but due to some reasons it wasn’t able to go ahead with the plan. Paytm, through its […]

Reliance

Reliance Jio Free Internet & Calling up to 31st March 2018 for Jio Prime Members – How To Register?

Reliance Industries Chairperson and the Managing Director Mukesh Ambani has said that Jio successfully crossed 100 million customers in just 170 days. Also, Mukesh Ambani has stated an awesome statement; Jio Prime Members can continue enjoying the unlimited benefits of JIO NEW YEAR OFFER until 31st March 2018. Really this is going to be a […]

Union Budget 2017 Highlights

Hi friends, Himbuds.com brings you the Union Budget 2017 Highlights in easily comprehend-able point-wise format. Please go through, to has an in-depth gist of Union Budget 2017. Income Tax rate cut to 5 pc for individuals having income between Rs 2.5 lakh to Rs 5 lakh 10 pc surcharge on individual income above Rs 50 lakh […]

Ahead of China, PM Modi’s ‘Startup India’ makes country world’s 3rd largest hub for new tech outfits

Prime Minister Narendra Modi’s ‘Startup India’ initiative has caught the attention of the world. ‘India’ was a key topic at the ongoing World Economic Forum’s Annual Meeting 2017. The ‘Startup India’ initiative has not only effected a startup boom in the country but also made India world’s third largest “hotspot” for new tech businesses in […]

Hurry: Amazon Great Indian Sale on 20, 21 and 22 Jan

Willing to buy something new Online? Here’s the best opportunity with Amazon Great Indian Sale commencing 12AM (midnight) on 20th January 2017 and ending at 11:59PM on 22nd January 2017. Each time we open an e-commerce portal to buy something online, the first thing we look for are the offers available for the products we […]

Need Extra Money? How Salary Overdraft Could Help You

HIGHLIGHTS

  1. Some banks offer facility of overdraft against salary accounts
  2. They charge one-time fee or processing charges for offering this facility
  3. Banks extend credit based on account holder’s take home salary

Do you need to break your bank fixed deposit when you need funds in an emergency or for the short term? For such situations, many banks offer an overdraft facility against assets like property, fixed deposits, mutual funds and insurance holdings.

Some banks even offer the facility of overdraft against salary accounts. This facility allows account holders to withdraw funds more than what is maintained in their accounts.

To have access to this facility, the account holders need to apply separately to the bank. Some banks charge a one-time fee or processing charges for offering this facility.
Under the salary overdraft facility, banks extend credit based on the take-home salary of the account holder. It is usually 2-3 times of the monthly salary.

HDFC Bank, for example, offers the freedom to customers use salary overdraft facility through cheques, ATM, online transfer, etc. Interest is charged on the amount utilised as overdraft. Banks have a minimum and maximum limit in case of an salary overdraft facility. For example, in case of HDFC Bank, the minimum and maximum limit is Rs 25,000 and Rs 1,00,000.

The repayment period varies depending on banks. In case of SBI, the overdraft is repayable in 6 months.

The maximum limit in case overdraft facility granted against different assets is much higher.

Axis Bank, for example, gives credit up to 85 per cent of the value of your fixed deposit with repayment period of up to the remaining tenure of the underlying fixed deposit.

Axis Bank charges interest rate of around 2 per cent higher than that of the fixed deposit rate.

Source:- Surajit Dasgupta

Read more about Need Extra Money? How Salary Overdraft Could Help You

Get FREE Jio SIM at your Doorstep

Yes, you read it right. Amazon.in is delivering FREE Reliance Jio SIM at your Doorstep FREE. All you need to do is to fill up an Online Form by Clicking Here. An email alert by Amazon.in to its privileged customer read that Amazon.in is pleased to invite its customers, to experience a truly digital life, […]

The iPhone 8 might get cheaper because Apple is finally planning to make them in India

Seems like some great news is soon coming for Apple fans in India. After talks all throughout last year about a probable plan from Apple to set up a manufacturing or assembling plant in India, it seems like fruit has come to the discussion. A team from Apple will meet a group of senior officials […]

error: HimBuds content is copyright protected