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Will I need to pay an Early Termination Fee if I end my contract early?

Yes.  Be sure to check your terms and conditions as each financier will have varying penalties for early termination of a loan contract.

What is the eligible age for Car Loan?

If your age id between  18 to 75 years , then you are eligible for Car loan.

What are the costs associated with availing of a Personal Loan?

As a Personal Loan customer, you won’t pay any fee except for personal loan insurance fee that will be deducted from the loan amount disbursed.

Is the interest rate negotiable?

In principal, you can do it. In fact, you can negotiate with customer relationship officer to have a lower rate that lies in the regulated range.

What if I am self-employed

You have to provide latest 3Years ITR and start date of current business/profession, Latest years gross income, saving account related bank etc.

What are differences between secured & un-secured loan?

With unsecured loan, you are not requested any collateral while you have to mortgage a valuable personal property such as a car or a house for secured loan.  Maybe, time for a secured loan is longer than an unsecured loan. Most unsecured loans have a short or mid-term with high fixed interest rates. With secured loan, interest rate is usually lower for lower risk and timing is longer.

Who is eligible to apply for a Citibank Personal Loan?

If your age id between 18 to 60years and your take home salary is 8million VND and working at least 1 year, then you are eligible for personal loan

How will the changing interest rates affect my home loan ?

The fixed versus floating interest rate dilemma has been traditionally one of the most difficult decisions for home loan borrowers. Over the years with fixed home loans becoming high compared to floating rate of interests, most home loans have been offered with floating interest rate. The interest rates offered by the banks depend on the basic rate which is announced periodically. A decrease in basic rate usually results in lowering of interest rates. Before finalizing the home loan, it is essential to check with the banker about how the changing interest rates would affect the home loan.

Can I manage my credit card account online?

Yes. Use Online banking service of that card provider bank. You can also: Pay your credit card bill online statements Redeem your rewards View recent transactions Check your balance

What is co-branded credit card?

Any credit card that is offered by a credit card company that is jointly sponsored by both a bank and a retail merchant. This type of card can generally be issued more cheaply than private label retail cards. This type of card is designed to give the issuing bank access to the retailer’s customer base, helping customers avoid missing payments and paying penalties and charges due to possess to many cards.

Can I apply for a credit card with a co-applicant?

Yes. In this case, the bank will request you to add some supplementary documents.

How can I report a lost or stolen credit card?

Reporting your lost or stolen card on hotline is the fastest way to start the process of getting a replacement card. When you do that, the bank’ll deactivate your old card so no one else can use it, and you can tell  if there are purchases on your account you didn’t make.

When will I receive my new credit card?

If you’re approved, you’ll receive your  One card, credit limit information, and welcome materials by mail within 7-10 business days.

How can I reduce the amount of interest that I pay?

If possible, pay your balance in full to avoid interest charges. Making on-time payments of more than your minimum payment each month will reduce the overall amount of interest you pay.

What are the Differences Between Recurring Deposit and Fixed Deposit?

With fixed deposit, customers will have to choose a tenure, which usually ranges from 7 days to 10 years, and must deposit an amount once. The interest on the amount will be credited to the depositor’s account on a monthly or a quarterly basis or paid on maturity. In term of recurring deposit, Investors can deposit a fixed amount every month / quarter and can earn interests. The interest is paid along with the principal at maturity.

What is the minimum amount I can deposit every month?

Most banks have the minimum amount as 100000 or 500000 INR.

What are the factors that affect Health Insurance premium?

Age is a major factor that determines the premium, the older you are the premium cost will be higher because you are more prone to illnesses. Previous medical history is another major factor that determines the premium. If no prior medical history exists, premium will automatically be lower.

What are types of mutual fund available for investors?

Stock fund  Bond fund  Money market fund

What would happen if I forgot to deposit a month in recurring deposit?

There might be a small penalty for every month you don’t pay. You won’t lose your existing money, only you would have to pay extra charges when you continue.

What is the home structure insured for?

The structure of your home is insured as per the re-instatement value. The policy covers the losses to the structure of your home due to any natural and man-made calamities.

The following fire and special perils are covered:

  • Fire
  • Riot, strike & malicious damage
  • Explosion & implosion 
  • Lightning
  • Storm, cyclone, tempest, tornado, hurricane, flood & inundation
  • Damage due to impact by vehicles
  • Subsidence, landslides and rockslides
  • Aircraft damage
  • Bursting and/or overflowing of water tanks, apparatus and pipes 

How much travel insurance cost?

The cost of travel insurance is based, in most cases, on the value of the trip and the age of the traveller. Typically, the cost is five to seven percent of the trip cost.

If the fault is completely mine and I also agree to same, does my liability change?

No, ofcourse not. The premium you pay covers for potential mistakes on your side.

Why should I go for travel insurance?

A travel insurance plan can cover you for unexpected costs incurred before or during your trip so costs are less likely to come out of your own pocket. A travel insurance plan can reimburse you for the pre-paid, non-refundable portions of a trip if you need to cancel or interrupt your trip for a covered reason. A travel insurance plan can also include medical evacuation coverage.

Can I buy insurance for my children?

Yes, different banks/ insurance companies have different Child Assure Plan, which can be used as an investment option to build wealth for your child’s anticipated financial needs like education or marriage or business.

Why do you need life insurance?

If you have dependents and financial responsibilities towards them, then you certainly need insurance. Having a family means dependents, which, in turn means financial commitments. Financial commitments come in the form of loans, expenses incurred on children’s education, medical expenses etc. What will happen if you were to lose your life suddenly or become disabled and cannot earn? If you buy insuance, your dependants will be protected.

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