Fixed payment http://fimendurance.com/ Tue, 27 Sep 2022 13:59:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.9 https://fimendurance.com/wp-content/uploads/2021/10/icon-5-120x120.png Fixed payment http://fimendurance.com/ 32 32 Electronic Mart India Ltd IPO date set, to open Oct 4 and close Oct 7 https://fimendurance.com/electronic-mart-india-ltd-ipo-date-set-to-open-oct-4-and-close-oct-7/ Tue, 27 Sep 2022 06:49:15 +0000 https://fimendurance.com/electronic-mart-india-ltd-ipo-date-set-to-open-oct-4-and-close-oct-7/ MUMBAI, SEPTEMBER 26, 2022 (GPN): The subscription period for the initial public offering (IPO) of Electronics Mart India Ltd will start on October 4 and end on October 7. The closing date for offers from principal investors is October 3. The allocation basis will be finalized on October 12 and the shares will be credited […]]]>

MUMBAI, SEPTEMBER 26, 2022 (GPN): The subscription period for the initial public offering (IPO) of Electronics Mart India Ltd will start on October 4 and end on October 7.

The closing date for offers from principal investors is October 3. The allocation basis will be finalized on October 12 and the shares will be credited to the winning bidders’ demat accounts on October 14. On October 17, Electronics Mart will debut on the stock exchange.

The company submitted draft documents to SEBI in September 2021 to raise around Rs 500 crore through new issuance.

The proceeds will be used by the company for additional working capital requirements of Pavan Kumar Bajaj and Karan Bajaj has established Electronics Mart India Ltd (EMIL) as a private company with a consumer goods and electronics store operating under the name of “Bajaj Electronics”. approximately Rs 220 crore and capital expenditure worth Rs111.44 crore. The company will also use Rs55 crore to repay its debt. It operates and manages 112 stores with a retail business area of ​​1.12 million square feet, located in 36 cities/urban agglomerations, mainly in Andhra Pradesh, Telangana and NCR.

In September 2021, the company filed draft documents with SEBI to raise around Rs 500 crore through a new issuance. The retail quota is 35%, the QIB is 50% and the HNI is 15%.

For FY22, its operating revenue was Rs 4,349.32 crore, compared to Rs 3,201.88 crore a year ago. Net profit for the year stood at Rs 40.65 crore compared to Rs 103.89 crore last year.

Electronics Mart India Limited is one of the largest electronics retailers in India. The company was incorporated in 1980 and based in Hyderabad. They are the 4th largest retailer of consumer durables and electronics in India and as of financial year 2020, they are the largest player by revenue, according to CRISIL report.

Electronics Mart India (EMI) offers major appliances such as televisions, refrigerators, washing machines, air conditioners, mobile phones, small household appliances, information technology and other electronic products. They sell over 5000 SKUs in over 70 brands of consumer durables and electronics. They have 2 business models, 1. Ownership model and 2. Leasehold model. They also sell products at retail, wholesale, and e-commerce.

]]>
Big banks raise short-term fixed mortgage rates as popularity grows https://fimendurance.com/big-banks-raise-short-term-fixed-mortgage-rates-as-popularity-grows/ Mon, 26 Sep 2022 05:28:08 +0000 https://fimendurance.com/big-banks-raise-short-term-fixed-mortgage-rates-as-popularity-grows/ Over the past week, almost all of the six major Canadian banks have raised their shorter-term fixed mortgage rates. Rate increases were largely limited to 1, 2 and 3 year fixed rate mortgage products, including special offers and posted mortgage rates. The increases were seen at TD, Scotiabank, RBC, BMO and National Bank of Canada, […]]]>

Over the past week, almost all of the six major Canadian banks have raised their shorter-term fixed mortgage rates.

Rate increases were largely limited to 1, 2 and 3 year fixed rate mortgage products, including special offers and posted mortgage rates. The increases were seen at TD, Scotiabank, RBC, BMO and National Bank of Canada, and ranged from 10 to 55 basis points.

But the big banks were not the only lenders to raise their rates on these terms.

According to data from MortgageLogic.news, the average discount rate available nationwide for insured and uninsured 1-year fixed rates has jumped 12 basis points and 20 basis points, respectively, since the start of the month. In comparison, average insured and uninsured 5-year fixed rates increased by 2 basis points and 5 basis points over the same period.

Ryan Sims, mortgage broker at TMG The Mortgage Group and a former investment banker, said the inverted yield curve was the main culprit.

“It’s very true that short-term fixed rates have moved a lot more,” he told CMT. “Currently, we are seeing that 1 and 2 year notes are paying much more than a 5 year note.

  • Jargon Buster: What is a yield curve inversion? Yield curve inversion occurs when short-term interest rates rise above long-term rates in the bond market. This indicates that more investor money is flowing into longer-dated bonds and generally signals growing pessimism about the near-term economic outlook.

As shown in the chart below, 2- and 3-year bond yields have now exceeded 5-year bond yields:

Why is this happening then?

As mentioned above, there has been increasing volatility in short-term economic sentiment among investors.

“Recent economic data has been consistently negative,” Sims noted, pointing to falling GDP in July and August, rising unemployment since June and net job losses in August that “rivaled unprecedented monthly data since the Great financial crisis”. of 2008.”

“While yield curve inversion is a subject of much debate, the length of time the curve has been inverted and the sheer amount of curve inversion signals to me that a recession is coming and it won’t be routine,” he added. .

“The BOC has signaled that fighting inflation is their sole focus, but I think they have to beware that medicine is stronger than diagnostics,” he said. “Inflation is a problem, but if we increase too far, too fast, then we risk the solution being bigger than the problem we are trying to solve.”

Given the sharp and rapid rise in mortgage rates over the year, many mortgage borrowers, both new and returning borrowers, have shifted to shorter-term rates, which are typically priced below most 5-year maturities.

Bank of Canada data shows that the volume of advanced mortgages for new and existing loans from chartered banks has shifted to terms of less than five years.

Between March and July (latest data available), funds advanced for fixed terms of 1 to 3 years increased by approximately 40% (for insured and uninsured mortgages), while volumes for fixed terms of 5 insured and uninsured years decreased 13% and 5%, respectively.

Sims added that another reason for recent rate hikes, besides inverting the yield curve, could be that banks have “discovered where consumer sentiment is.”

What strategy does this leave for today’s borrowers?

Rate expert Rob McLister, editor of MortgageLogic.news, says the best value is still usually found in the shortest terms.

“Everyone’s needs are different, but the sweet spot for most qualified borrowers is any 1-3 year fixed term near/below 4.50%,” he told CMT. Although its rate simulations are run using the OIS implied rate path, “that does not mean that these are the best-performing conditions.”

Another hedge for borrowers can be to split their mortgage between a fixed rate and a variable rate with a hybrid mortgage.

“Term selection is all about risk management,” he says. “If a 20% increase in your payments would break your family budget, mitigate the risk with a hybrid or (at least) medium-term fixed mortgage. The more qualified and liquid you are, the more you can bet on: (A) a shorter duration, or (B) additional variable exposure in a hybrid. »

Here are the latest interest rate and bond yield forecasts from the Big 6 banks, with any changes from their previous forecasts in parentheses.

Target rate:
End of year ’22
Target rate:
End of year ’23
Target rate:
End of year ’24
Yield on 5-year BoC bonds:
End of year ’22
Yield on 5-year BoC bonds:
End of year ’23
BMO 3.75% (+25 basis points) 3.75% (+25 basis points) N / A 3.30% (10 basis points) 3.05% (+5 basis points)
CIBC 3.75% (+50 basis points) 3.75% (+50 basis points) N / A N / A N / A
NBC 3.75% (+50 basis points) 3.00% (-25 bps) N / A 3.25% (+5 basis points) 3.05% (+5 basis points)
RBC 4.00% (50 basis points) 3.75% (+50 basis points) N / A 3.00% (+20 bps) 2.50% (+10 bps)
ScottishIa 3.75% (+25 basis points) 3.75% (+25 basis points) N / A 3.45% (+15 basis points) 3.15% (+15 bps)
TD 4.00% (+50 basis points) 4.00% (+75 bps) N / A 3.45% (+60 basis points) 2.55% (+25 basis points)
]]>
5 Ways to Secure Your Future with High FD Rates https://fimendurance.com/5-ways-to-secure-your-future-with-high-fd-rates/ Sun, 25 Sep 2022 06:35:41 +0000 https://fimendurance.com/5-ways-to-secure-your-future-with-high-fd-rates/ Adding a safe, low-risk investment to your portfolio is a great way to safely grow your wealth. As a retail investor, investing in fixed deposit is a smart choice due to the recent rise in FD rates. You can earn lucrative returns with high FD rates while providing financial security for years. Consider Bajaj Finance […]]]>

Adding a safe, low-risk investment to your portfolio is a great way to safely grow your wealth. As a retail investor, investing in fixed deposit is a smart choice due to the recent rise in FD rates. You can earn lucrative returns with high FD rates while providing financial security for years. Consider Bajaj Finance Fixed Deposit, the many fixed deposit options available. With it, you can secure your wealth and earn substantial returns, with FD rates of up to 7.75% per annum.

Fixed deposits are a popular choice for those looking to diversify their portfolio. Many go this route because it adjusts risk and injects stable profits into the mix. FDs have been among the safest investment instruments for many, as FD rates are unaffected by market fluctuations. As such, rising FD rates are the perfect time to start your investment in FDs and grow your wealth safely.

Look at these pointers to learn how investing in a Bajaj Finance FD helps secure your financial future.

Enjoy the highest security and credibility ratings

When investing, choosing a safe and credible instrument is key to reducing risk and keeping your finances secure. Since an FD is not tied to market fluctuations, it is a safer investment. In addition, rating agencies such as CRISIL and ICRA rate the investment instruments of various financial institutions. A high rating means that the instrument is safe and you can make a stress-free investment knowing that you will receive your interest income and the amount originally invested on time and without fail. Bajaj Finance DF has the highest security and credibility ratings of CRISIL AAA/STABLE and [ICRA]AAA (Stable), ensuring the security of your invested amount.

Access a long tenure for maximum returns

When you choose a long investment term, you can benefit from higher FD rates, which means better returns. For example, your returns on a 33 month fixed deposit would be higher compared to a 22 month FD. Bajaj Finance fixed deposit offers high FD rates and a flexible term ranging from 12 to 60 months. It allows you to maximize your yields in complete safety.

Below is a table that outlines the earnings on an investment of Rs. 5 lakh made for different tenures as an investor under 60.

Learn more| https://hubliexpress.com/now-avail-banking-services-at-ease-with-fino-payments-banks-aarambh-a-digital-savings-account-focused-on-rural-consumers/

Duration (in months) FD rate (in pa) Interest income Total winnings
18 6.65% Rs.50,695 Rs.5,50,695
22 6.80% Rs. 64,093 Rs.5,64,093
44 7.50% Rs.1,51,830 Rs.6,51,830

Disclaimer: Results calculated using the Bajaj Finance FD Calculator

Invest to take advantage of one of the highest FD rates in the market

The Bajaj Finance FD comes with some of the highest FD rates for different terms up to 7.75% interest. Earning substantial returns from your investment is a must to ensure your payout overcomes inflation. With the power of compounding coupled with high FD rates, you can enjoy even better returns.

Below is a table with different FD rates for an investment of Rs. 5 lakh in a Bajaj Finance FD as a senior:

Duration (in months) FD rate (in pa) Interest income Total winnings
24 7.20% Rs. 74,592 Rs.5,74,592
33 7.40% Rs.1,08,460 Rs. 6,08,460
44 7.75% Rs.1,57,406 Rs.6,57,406

Disclaimer: Results calculated using the Bajaj Finance FD Calculator

Get an emergency loan when you’re in a cash crunch

Making a lump sum investment with a long duration can mean running out of cash if you’ve exhausted your emergency savings. Although this can usually mean breaking your investment, Bajaj Finance Fixed Deposit helps you avoid this. Instead, you can avail a loan against your FD value at nominal interest rates. This can ensure that your wealth continues to grow while allowing you to deal with emergencies.

Apart from these Bajaj Finance Fixed Deposit features, you can also take advantage of the FD Calculator and a 100% digital process to maximize convenience. The FD Calculator allows you to get an accurate estimate of your returns and plan your investment accordingly, while the online application makes the process faster and easier. Invest online in a few steps and create a safe and secure investment to grow your wealth.

The Hubli Express is now on WhatsApp, you can join the WhatsApp group by clicking on the link

https://chat.whatsapp.com/GGfNcYk081zKiAlNb2oI5d

You can follow us on facebook @HubliExpress

]]>
DBS and UOB temporarily cut fixed-rate home loans amid ongoing review https://fimendurance.com/dbs-and-uob-temporarily-cut-fixed-rate-home-loans-amid-ongoing-review/ Fri, 23 Sep 2022 05:44:00 +0000 https://fimendurance.com/dbs-and-uob-temporarily-cut-fixed-rate-home-loans-amid-ongoing-review/ SINGAPORE: At least two Singaporean banks – DBS and UOB – have temporarily stopped offering fixed rate home loans from Friday (September 23). DBS, Singapore’s largest lender, has removed fixed-rate home loans from its website. CNA understands that the local bank is reviewing its rates. UOB said in response to questions that, in a rising […]]]>

SINGAPORE: At least two Singaporean banks – DBS and UOB – have temporarily stopped offering fixed rate home loans from Friday (September 23).

DBS, Singapore’s largest lender, has removed fixed-rate home loans from its website. CNA understands that the local bank is reviewing its rates.

UOB said in response to questions that, in a rising rate environment, it is reviewing its fixed rate offerings and will discontinue its existing two- and three-year plans.

The US Federal Reserve on Wednesday announced a 75 basis point increase in its benchmark federal funds rate, mirroring similarly large increases in June and July.

Lenders have revised their mortgage rates this year as global central banks embark on a race to raise rates to tame inflation.

Fixed rate packages have seen more significant adjustments. Some foreign banks suspended fixed rate options earlier in the year due to the rising cost of funds.

DBS previously offered two- and three-year mortgages at a fixed rate of 2.75 per annum.

The bank still has variable rate home loans – pegged to either the benchmark Singapore Overnight Average Rate (SORA) or the bank’s six-month average fixed deposit rate – with lending spreads unchanged. since its last review in June.

Similarly, UOB continues to offer a SORA-indexed variable rate package consisting of three months plus a 1% margin, with a two-year lock-in. It also offers an ongoing promotion allowing new customers to take advantage of the variable rate plan with a lower margin of 0.7% for the first two years.

“We are constantly monitoring market conditions and will review our home loan packages to ensure they remain competitive and have a range of options to meet homeowners’ unique needs,” the spokesperson said.

“As buying a property is a long-term commitment and an expensive job, homeowners need to be aware of the costs, risks and terms of their home loan. We strongly encourage homeowners to speak with their bank as soon as possible to better understand how interest rate changes will affect their home loans, steps they can take to mitigate any downside risk, and select a suitable loan package. best for their situation. ”

At OCBC, mortgage offers appear to have remained intact Friday midday.

The bank still offers a two-year fixed-rate package at 2.98% per annum, as well as SORA-indexed variable-rate packages consisting of one month or three months plus an annual lending margin of 0.98 %.

“We regularly review our mortgage rates and ensure that our packages remain competitive. As interest rates are now trending higher, we advise consumers to review their affordability before committing to home purchases,” said the bank’s head of consumer secured loans, Phang Lah. Hwa.

]]>
First fixed rate lending protocol on Cardano https://fimendurance.com/first-fixed-rate-lending-protocol-on-cardano/ Thu, 22 Sep 2022 14:00:00 +0000 https://fimendurance.com/first-fixed-rate-lending-protocol-on-cardano/ London, UK, Sep 22, 2022 (GLOBE NEWSWIRE) — Kulfi Finance presents an innovative lending and borrowing protocol to enable users to combat the roller coaster of volatility that exists in the markets; the native token of the protocol (KLS) plays a central role in price protection and a pre-sale of seeds is live for the […]]]>

London, UK, Sep 22, 2022 (GLOBE NEWSWIRE) — Kulfi Finance presents an innovative lending and borrowing protocol to enable users to combat the roller coaster of volatility that exists in the markets; the native token of the protocol (KLS) plays a central role in price protection and a pre-sale of seeds is live for the first participants on Kulfi token sale page.

Kulfi Finance Fixed Rate Protocol

Kulfi Finance Fixed Rate Protocol offers precisely what it says, a fixed rate. This means that for the duration of your loan, the interest rate will not change.

In times of falling interest rates, locking in a low rate is very beneficial. This means you don’t have to worry about missing out on lesser opportunities and the corresponding savings.

At Kulfi, you are locked into a great rate and don’t have to worry about a rate hike.

By purchasing KLS tokens during the pre-seed sale, KLS holders get the following:

* Early access to the Kulfi app for beta testing

* Access to the Kulfi NFT presale

* KLS tokens at a price well below the potential market price after the token sale and listings.

* Participate in the governance of the Kulfi ecosystem

* The Kulfi ecosystem has the potential to develop a large audience over a short period of time, which will boost token value.

As cryptocurrency assets continue to grow, investors are looking for undervalued assets that may appreciate in value over the long term. Kulfi finance (KLS), a fixed rate protocol on the cardano blockchain. With the digital asset currently in the works, the $KLS token is perhaps the most valuable pre-seed round in the crypto market.

Kulfi innovative tool

With innovation growing in all directions, there is still a clear lack of comprehensive solutions for those looking to lend or borrow. The DEFI sector is becoming more user-friendly, they are still probably too complex for the average user, Kulfi finance will offer a user-friendly protocol. Kulfi Finance offers users what can only be described as cheat codes for the crypto and DeFi markets, with fixed rate features.

Kulfi Finance ReFi Utilities

Predictability: Kulfi Fixed interest rates provide predictability in loan repayment.

Low rates: When interest rates are low or near historic lows, a fixed rate loan product may become more attractive.

Calculate costs: Kulfi’s fixed interest rate on a loan makes it easier to calculate the cost of borrowing over the lifetime, because the rate does not change.

Kulfi (KLS) tokens can be purchased until October 9, the KLS token sale will be followed by the launch of the Kulfi staking platform which will allow users to stake their KLS tokens and earn rewards in the token of the Kulfi ecosystem.

KLS Token Sale Statistics

* Minimum investment: 350 ADA

* Maximum supply: 1 billion

* Pre-seed supply: 70 million

* Buy your tokens now

Take part in the KLS token presale

Kulfi Token is currently activated Pre-seeding tower for early buyers, this is the first and limited opportunity for the public to get exclusive early access to purchase the Kulfi token at 1 ADA for 200 KLS tokens.

Join the discounted Kulfi Token (KLS) Pre-Sale – https://kulfifinance.io/buy

About Kulfi Finance

Kulfi is the first decentralized Cardano-based protocol for borrowing and lending at variable and fixed rates and on fixed terms. With variable rate loans, DeFi can only serve a small segment of the crypto lending market, as variable interest rates do not provide the certainty that lenders and borrowers need. Kulfi finance solves this problem by creating a true floating and fixed rate market for lenders and borrowers that democratizes and empowers individual investors, business owners and institutional investors.

With Kulfi V2, users will enjoy low to zero liquidation event. Kulfi finance aims to become the best lending product on Cardano Chain and expand its influence in the crypto world.

Learn more about Kulfi Finance:

Join KLS Pre Seed: https://kulfifinance.io/buy

Website: https://kulfifinance.io

Twitter: https://twitter.com/kulfi_finance

Telegram Community: https://t.me/kulfifinance

Discord community: https://discord.gg/fzsa8ynF97

Litepaper: https://kulfi.gitbook.io/kulfi-finance-3/

Blog: https://medium.com/@Kulfi_finance


        

]]>
The 30-year fixed rate mortgage plus a quarter of https://fimendurance.com/the-30-year-fixed-rate-mortgage-plus-a-quarter-of/ Thu, 22 Sep 2022 14:00:00 +0000 https://fimendurance.com/the-30-year-fixed-rate-mortgage-plus-a-quarter-of/ MCLEAN, Va., Sept. 22, 2022 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year Fixed Rate Mortgage (FRM) averaged 6.29%. “The housing market continues to face headwinds as mortgage rates rise again this week, after the 10-year Treasury yield jumped to its […]]]>

MCLEAN, Va., Sept. 22, 2022 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year Fixed Rate Mortgage (FRM) averaged 6.29%.

“The housing market continues to face headwinds as mortgage rates rise again this week, after the 10-year Treasury yield jumped to its highest level since 2011,” said Sam Khater, senior economist. head of Freddie Mac. “Impacted by higher rates, home prices are falling and home sales have declined. However, the number of homes for sale remains well below normal levels.

News Facts

  • 30-year fixed rate mortgage averaged 6.29% with an average of 0.9 points as of September 22, 2022, up from last week when it averaged 6.02%. A year ago at this time, the 30-year FRM averaged 2.88%.
  • 15-year fixed rate mortgage an average of 5.44% with an average of 1.0 points, up from last week when it averaged 5.21%. A year ago at this time, the 15-year FRM averaged 2.15%.
  • 5 Year Treasury Indexed Hybrid Variable Rate Mortgage (ARM) averaged 4.97% with an average of 0.4 points, up from last week when it averaged 4.93%. A year ago at this time, the 5-year ARM averaged 2.43%.

PMMS® focuses on conventional, conforming, fully amortized home purchase loans for borrowers who have 20% down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

NOTE: Freddie Mac is making a number of enhancements to PMMS to improve the collection, quality, and diversity of data used. Instead of surveying lenders, the weekly results will be based on applications received from thousands of lenders across the country that are submitted to Freddie Mac when a borrower applies for a mortgage. Also, we will no longer publish fees/points or adjustable rates. The newly revamped PMMS will go live in November 2022, and weekly distribution will occur on Thursdays at 12:00 noon ET.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our founding by Congress in 1970, we have made housing more accessible and affordable for buyers and renters in communities nationwide. We are building a better housing finance system for buyers, renters, lenders, investors and ratepayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog, FreddieMac.com/blog.

MEDIA CONTACT:
Angela Waugaman
703-714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/606c7c1f-47cf-4973-afcc-2e1752df6ed5

]]>
Shouldn’t airlines pay a fixed fine for the loss of passengers’ luggage? https://fimendurance.com/shouldnt-airlines-pay-a-fixed-fine-for-the-loss-of-passengers-luggage/ Tue, 20 Sep 2022 10:35:52 +0000 https://fimendurance.com/shouldnt-airlines-pay-a-fixed-fine-for-the-loss-of-passengers-luggage/ “My daughter just had an entire vacation with no luggage,” writes one understandably annoyed reader. “The airline will only compensate for a few T-shirts she bought while she waited in vain. Yet her entire holiday was ruined. “Surely there should be a fixed penalty for lost baggage?” » Across the country, thousands more will claim […]]]>

“My daughter just had an entire vacation with no luggage,” writes one understandably annoyed reader.

“The airline will only compensate for a few T-shirts she bought while she waited in vain. Yet her entire holiday was ruined.

“Surely there should be a fixed penalty for lost baggage?” »

Across the country, thousands more will claim the same. Because the current situation is absurd.

When European rules on air passenger rights were created 18 years ago, parliamentarians in Brussels and Strasbourg deliberately bet on deterrence. An important element of Regulation 261/2004 was compensation; passenger payments were deliberately high to encourage airlines to reduce the number of overbooked and canceled flights.

If a standard mid-range flight in Europe using a 180-seat Airbus A320 is canceled or delayed by (quite arbitrarily) three hours or more, the theoretical financial damage to the airline in cash payments to passengers amounts to 63 £000 – assuming everyone claims, which they never do.

The European Parliament’s shrewd plan was this: make the penalties tough enough and the airlines will operate their schedules as planned. Take my word for it: airlines still want to operate their schedule as planned, and they already have plenty of financial incentives to do so. Missing curfews at airports, reputational damage and crews “out of hours”, thus requiring hotels for them and all passengers, can prove very costly. But the EU still imposed the rules.

Yet pro-consumer legislation has little to say on the baggage issue, other than to point out that the Montreal Convention on Aviation includes rules providing for the payment of compensation of up to £1,000 if a piece of luggage is definitely lost.

A much more common situation, however, is overlooked: bags left at the departure airport or sent to a random location on the other side of the planet to be reunited with their owner several days later.

Baggage mishandling is already costing airlines dearly. Paying for the purchase of essentials (T-shirts, toiletries) and delivering luggage to passengers’ homes can cost more than the original ticket price.

Going back to the (missing) case of the reader’s daughter: I imagine spending the holidays without her luggage was far more annoying than a three-hour flight delay would have been, but she is entitled to zero compensation for the first and a payment of £350. for the last.

The current muddle of EU rules (which the UK basically adopted for international flights after Brexit) may even have the unintended consequence of tempting airlines to leave their luggage behind.

Let’s say a flight is two and a half hours late and ground handling issues mean it will take at least 30 minutes longer to load everyone’s luggage. Financially, the airline will take the least damage by not hanging around and taking off with only half the luggage on board – although most passengers would gladly wait an extra hour if it meant having their belongings.

Since Brexit, the UK government has been able to reform passenger rights rules. Ministers have chosen to moderate the amount of compensation for domestic flight delays and cancellations, which I consider a sensible decision. They could also have tackled the baggage issues, but chose not to.

I hope pressure from the pro-consumer transport select committee will persuade the government to reconsider – and prescribe payments for passengers who are separated from their luggage.

At the same time, it would be good to see something addressed about the dreadful situation where passengers land as scheduled to wait many hours for their luggage. A three-hour wait for luggage at Manchester or Luton airport is just as annoying as a three-hour delay from Palma, and compensation should take this into account.

Ideally, of course, we should all carry only hand luggage: less harmful for the planet, less stressful for humanity.

]]>
Interest rates: Westpac increases fixed rate mortgages after RBA decision https://fimendurance.com/interest-rates-westpac-increases-fixed-rate-mortgages-after-rba-decision/ Tue, 20 Sep 2022 02:43:11 +0000 https://fimendurance.com/interest-rates-westpac-increases-fixed-rate-mortgages-after-rba-decision/ Westpac announced significant increases in its interest rates for fixed rate home loans and home loans. Effective Tuesday, the Big Four banks raised rates on all of its fixed-rate home loans by 50 basis points for homeowners and investors. New and existing customers were affected by the change, with the fixed rate on a one-year […]]]>

Westpac announced significant increases in its interest rates for fixed rate home loans and home loans.

Effective Tuesday, the Big Four banks raised rates on all of its fixed-rate home loans by 50 basis points for homeowners and investors.

New and existing customers were affected by the change, with the fixed rate on a one-year homeowner loan dropping from 4.69% to 5.19%.

Chris de Bruin, managing director of consumer and business banking at Westpac, said they knew the hikes would be difficult for some customers.

“We understand that many Australians are carefully managing their household budgets at this time and we are here to support our clients through the changing interest rate cycle,” he said during the interview. announced changes last week.

“When we look at our interest rates, we look to balance the needs of multiple stakeholders, including home loan and deposit customers.

“We also take into account several factors, including the increase in the cash rate, the competitive environment and the performance of our business.”

But as home loan customers have been impacted by the changes, Westpac has made a move to help savers.

The total Westpac Life variable rate with bonus interest increased by 0.50 per annum to 2.35%, while the total Westpac Bump Savings variable rate with bonus interest also increased to 2.35% per annum.

Rate City research director Sally Tindall said Westpac’s move could lead to other big banks revealing what they were doing for deposit customers.

“There will now be pressure on NAB and ANZ to step up after notably excluding savers from their RBA announcements on Friday,” she said.

“Westpac customers with Life and Bump accounts will see decent increases this month; however, those with eSaver accounts still only earn a rolling rate of 0.85%, which is 1.5 percentage points below the cash rate and 2.75 percentage points behind the market leader.

The increases come after the Reserve Bank of Australia (RBA) decided to raise the exchange rate by 0.50% at the September board meeting.

Mozo personal finance expert Claire Frawley said lenders are becoming increasingly “unpredictable” with their rate movements.

“While we’ve seen variable rates rise after all the RBA rate hikes, fixed rates have been more unpredictable with some lenders exiting the cycle,” she said.

“In August, we saw 29 lenders cut some or all of their fixed rates, including two of the big four banks. Commonwealth Bank cut its 4-year fixed rates by 160 basis points and Westpac its four-year rates by 100 basis points.

Read related topics:Westpac Reserve Bank
]]>
The fixed rate mortgage cliff is crushing https://fimendurance.com/the-fixed-rate-mortgage-cliff-is-crushing/ Sun, 18 Sep 2022 23:18:09 +0000 https://fimendurance.com/the-fixed-rate-mortgage-cliff-is-crushing/ Lending data shows that $158 billion in fixed rate mortgages will mature before the end of this year. The uniqueness of Australia’s experience with ultra-low interest rates and fixed-rate mortgages has produced an almighty headache for some homebuyers. A staggering $158 billion in fixed rate mortgages will fall due before the end of the year, […]]]>
Lending data shows that $158 billion in fixed rate mortgages will mature before the end of this year.

The uniqueness of Australia’s experience with ultra-low interest rates and fixed-rate mortgages has produced an almighty headache for some homebuyers.

A staggering $158 billion in fixed rate mortgages will fall due before the end of the year, according to research by Finder.com.au, leaving the unwary with extraordinary headaches.

Traditionally, most Australian home loans were variable rate loans, but rock-bottom interest rates and the Reserve Bank’s policy of shoveling free money to the big banks and demanding that they lending again produced a massive increase in the number of short-term fixed rate loans. mortgage rates, some of which were taken out at interest rates below 2%.

This was not seen as a problem by borrowers – many of whom relied on Reserve Bank assurances that they expected no interest rate hikes until 2024 as they took out loans on terms of one to five years.

Nearly half of the loans taken out were fixed rate

Finder figures showed that a staggering 46% of home loans taken out in July and August last year were fixed rate, showing just how widespread the problem could be.

Now thousands of borrowers with these loans have realized to their horror that when they mature before Christmas, their average monthly repayment amount will increase by $641, which is a big change for anyone, let alone a buyer. of relatively new house.

It is almost certain that the size of the interest rate cliff will not be supported by a large amount of savings since most new borrowers are strapped for custody, which makes this type of repayment a problem. seriousness that could push many of them into mortgage stress.

A quarter of borrowers already in difficulty

Finder’s Consumer Sentiment Tracker found that one in four Australians struggle to pay their mortgage each month.

Even that number is likely to be underestimated after five consecutive months of official interest rate hikes by the Reserve Bank that pushed the cash rate up from 0.1% to 2.35%, with other increases almost certain.

This is the highest official rate since December 2014, when it was 2.50%.

These increases over just five months mean that those with a $500,000 loan will face an increase of over $600 per month and those with a $1 million loan will see increases of over $1,200 per month. month.

Rising refunds aren’t the only problem

The repayments that increase so rapidly when loans move from fixed to floating are not the only problem for those who face the cliff of fixed mortgages.

Falling property values ​​in parts of Australia could make it difficult for some borrowers to refinance, or at least without incurring additional taxes such as lenders’ mortgage insurance, which is mandatory for loans without a mortgage component. equity of 20% or more.

All of this is on top of a very busy time in the offices of many mortgage brokers and – unfortunately – in direct negotiations with banks by borrowers who have reached real levels of financial hardship.

The only silver lining to this situation is Australia’s strong job market, which will hopefully entice those looking for a scramble to make their monthly repayments.

]]>
Max Life’s fixed-return smart digital plan now offers guaranteed returns of up to 7.25% – key features https://fimendurance.com/max-lifes-fixed-return-smart-digital-plan-now-offers-guaranteed-returns-of-up-to-7-25-key-features/ Fri, 16 Sep 2022 03:44:55 +0000 https://fimendurance.com/max-lifes-fixed-return-smart-digital-plan-now-offers-guaranteed-returns-of-up-to-7-25-key-features/ zeenews.india.com understands that your privacy is important to you and we are committed to being transparent about the technologies we use. This Cookie Policy explains how and why cookies and other similar technologies may be stored on and accessed from your device when you use or visit the zeenews.india.com websites that link to this Policy […]]]>

zeenews.india.com understands that your privacy is important to you and we are committed to being transparent about the technologies we use. This Cookie Policy explains how and why cookies and other similar technologies may be stored on and accessed from your device when you use or visit the zeenews.india.com websites that link to this Policy (collectively, “ the sites “). This cookie policy should be read in conjunction with our privacy policy.

By continuing to browse or use our sites, you agree that we may store and access cookies and other tracking technologies as described in this policy.

What are cookies and other tracking technologies?

A cookie is a small text file that may be stored and accessed from your device when you visit one of our sites, provided you consent. Other tracking technologies work similarly to cookies and place small data files on your devices or monitor your website activity to allow us to collect information about how you use our sites. This allows our sites to recognize your device among those of other users of our sites. The information provided below on cookies also applies to these other tracking technologies.


How do our sites use cookies and other tracking technologies?

Zeenews.com uses cookies and other technologies to store information in your web browser or on your mobile phone, tablet, computer or other devices (collectively “devices”) that allow us to store and receive certain information whenever you use or interact with our applications and sites zeenews.india.com. These cookies and other technologies help us identify you and your interests, remember your preferences and track usage of zeenews.india.com We also use cookies and other tracking technologies to control access to certain content on our sites, to protect the sites, and to process all the requests that you send to us.
We also use cookies to administer our sites and for research purposes, zeenews.india.com has also contracted with third party service providers to track and analyze statistical usage and volume information of users of our site . These third-party service providers use persistent cookies to help us improve user experience, manage our site content, and analyze how users navigate and use the sites.

Proprietary and third-party cookies

Internal cookies

These are the cookies that belong to us and that we place on your device or those set by a website visited by the user at that time (eg cookies placed by zeenews.india.com)

Third-party cookies

Certain features used on this website may involve a third party sending a cookie to your computer. For example, if you view or listen to embedded audio or video content, you may receive cookies from the site where the embedded content is hosted. Similarly, if you share content from this website via social networks (for example by clicking on a Facebook “Like” button or a “Tweet” button), you may receive cookies from these websites. We do not control the setting of these cookies, so please check the websites of these third parties for more information about their cookies and how to manage them.

Persistent cookies
We use persistent cookies to improve your experience of using the sites. This includes recording your acceptance of our cookie policy to remove the cookie message that first appears when you visit our site.
Session cookies
Session cookies are temporary and deleted from your machine when your web browser closes. We use session cookies to help us track internet usage as described above.
You may refuse to accept browser cookies by activating the appropriate setting on your browser. However, if you select this setting, you may not be able to access certain parts of the Sites. Unless you have adjusted your browser settings to refuse cookies, our system will check whether cookies can be captured when you direct your browser to our sites.
The data collected by the sites and/or through Cookies likely to be placed on your computer will not be kept longer than necessary to fulfill the purposes mentioned above. In any case, this information will be kept in our database until we obtain your explicit consent to delete all stored cookies.

We categorize cookies as follows:

Essential cookies

These cookies are essential to our site in order to allow you to move around it and use its features. Without these essential cookies, we may not be able to provide certain services or features and our site will not function as well as we would like. These cookies, for example, allow us to recognize that you have created an account and logged in/out to access content on the site. They also include Cookies that allow us to memorize your previous actions within the same browsing session and to secure our sites.

Analytical/performance cookies

These cookies are used by us or our third party service providers to analyze how the sites are used and how they are performing. For example, these cookies track the most frequently visited content, your viewing history and where our visitors come from. If you subscribe to a newsletter or register on the Sites, these cookies may be correlated to you.

Functionality cookies

These cookies allow us to operate the sites in accordance with the choices you make. These cookies allow us to “remember you” between visits. For example, we will recognize your user name and remember how you have personalized the Sites and Services, for example by adjusting text size, fonts, languages ​​and other parts of web pages that are modifiable, and offer you the same personalizations during subsequent visits.

Advertising cookies

These cookies collect information about your activities on our sites and other sites to provide you with targeted advertising. We may also allow our third-party service providers to use cookies on the Sites for the same purposes identified above, including collecting information about your online activities over time and across different websites. Third-party service providers that generate these cookies, such as social media platforms, have their own privacy policies and may use their cookies to target advertisements to you on other websites, based on your visit to our sites.

How do I refuse or withdraw my consent to the use of Cookies?

If you do not want cookies to be placed on your terminal, you can adjust the settings of your Internet browser to refuse the setting of all or part of the cookies and to alert you when a cookie is placed on your terminal. For more information on how to do this, please refer to the “help” / “tool” or “edit” section of your browser for the cookie settings depending on your browser, which may be Google Chrome, Safari, Mozilla Firefox etc
Please note that if your browser settings are already configured to block all cookies (including strictly necessary cookies), you may not be able to access or use all or parts or features of our sites.
If you wish to delete previously stored cookies, you can manually delete cookies at any time from your browser settings. However, this will not prevent the sites from placing further cookies on your device unless and until you adjust your internet browser settings as described above.
For more information on the development of user profiles and the use of targeting/advertising cookies, please see www.youronlinechoices.eu if you are located in Europe or www.aboutads.info/choices if you are in the States -United.

contact us

If you have any further questions regarding our cookie policy, please contact us at:
If you need any information or clarification regarding the use of your personal information or this privacy policy or complaints regarding the use of your personal information, please email us at response@zeemedia.esselgroup.com .

]]>