| 6 Million Brits Consolidating Their Loans
The preferred method of debt consolidation in the UK is where unsecured personal loans are combined into one loan with a lower monthly payment. While this is a positive move in the short term, it can be fiscally devastating over the long-term if done in the wrong way. Unsecured personal loans are the preferred method of consolidating loans. The interest rate is normally lower than interest being charged on credit cards and store cards. Research from uSwitch.com revealed that a number of Brits who consolidate their loans continue to use their credit cards and store cards to create further debt. The number of UK consumers who apply for personal loans that are higher than the amount they need to consolidate their loans are using the extra money, not for wealth generating, but to maintain a higher lifestyle.
Foreign banks “man-hunting”
VietNamNet Bridge - Foreign banks are strongly attacking the retail-service fields, besides purchasing shares of domestic banks. Ashok Sud, General Director of Standard Chartered Bank (SC) in Vietnam, Laos and Cambodia, in a recent meeting introduced the bank's retail manager, Namita Lai. This is the first time SC has had a retail manager in Indochina. Ms Namita Lai appears because SC needs her assistance in introducing international-level individual products in Vietnam. Mr Ashok Sud said that this year SC Vietnam would develop the consumption banking service field. Last year the bank earned US$3.178 billion of pre-tax profit, 19% more than 2005 and turnover of over $8.620 billion, up 26%. In the history of the Hong Kong and Shanghai Banking Corporation (HSBC) in Vietnam, foreigners have been the major clients at HSBC offices.
NREI Club Adds a New Chapter at Walnut Creek, California
Pleasanton, California, Apr 03, 2007 -- /prbuzz/ -- National Real Estate Investment Club (NREI Club) is proud to present its new chapter at the Walnut Creek Marriott, Walnut Creek California. NREI Club meetings for the Walnut Creek chapter will be held on the first Monday of every month at the Walnut Creek Marriott. The prominent speakers on the commencement evening of the new chapter on Monday April 2nd, 2007 – Pritam Sinha and Edwin Yeh will showcase some exciting investment opportunities and the secrets of credit. The addition of this new chapter at Walnut Creek will provide investors in Contra Costa and Solano Counties with a more populated environment for networking and access to the club’s unique blend of educational resources and investment opportunities. This week, Pritam Sinha will teach investors how they can have impeccable credit and have access to hundreds of thousands of dollars in personal and business credit.
That slow killer in your wallet
Do your bit for society. Use plastic, reads a very cleverly worded advertisement of a credit card, where the card issuer promises to contribute a sum to a well-known charity, if you spend money through its cards.
The bank also makes it very convenient to pay off the money thus spent in easy installments by allowing you to pay only 5% of the total amount due.
The only fly in the ointment is the interest that the bank charges if you do not pay off the full amount on the due date. The average interest rate charged on the amount revolved (bankerspeak for the amount allowed to be rolled over and paid later) is around 34% per annum.
I am sure you have wondered why the average rate of interest on credit cards is around 34% per annum when the average rate on a home loan and personal loan is around 10% and 18%, respectively? There are several reasons for this.
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