Fidato Financial Consultants

Fidato Financial Consultants Its a One Stop Shop for all your financial needs - Home Loans, Loan against property, SME/ Business Loans, Mutual Funds, Life Insurance and General Insurance

The company took its shape over a coffee with two batch mates, both working for reputed banks in Bangalore. The focus was to bring in un-biased opinion on financial products and to be a one point contact for both Investment and Asset products. Hence it was a serious effort to give more value added service to the banking requirements of a client. Till now whatever success we had can largely be attr

ibuted to the comprehensive services that spans from understanding the requirement of the client, translating it to a better structuring, keeping risk/returns goals, pricing etc. of our client. We at FIDATO FINANCIAL CONSULTANTS, offer loan syndication services and portfolio management services on Investments. On Loans our primary focus is on SME who has debt requirement, hence we are strong in structuring various products in working capital space. On Investment side, we are strong in portfolio management. Apart from this we also do Life and General Insurance. Company was started in the month of April 2012, and all registration/certification formalities were completed in the month of June 2012.

26/09/2013

The Reserve Bank of India on Wednesday barred 'zero per cent interest’ schemes offered by banks to credit card holders.

In a move that is likely to dent retailers' festive season sales, the Reserve Bank of India has barred 'zero per cent interest' schemes offered by banks to credit card holders. Banks will now be able to recover dues through equated monthly installments only when customers are billed regular interest charges.

Describing the zero per cent interest scheme as a 'pernicious practice' which deters customer protection and accounting integrity, RBI has said that banks should not resort to any practice that would distort the interest rate structure of a product as this 'vitiates transparency in pricing mechanism' and prevents customers from taking informed decisions. Bankers said RBI has indicated that zero interest loans are a violation of its lending norms which prevent loans below a bank's base rate.

Retailers said the directive would deprive aspirational consumers of a facility to acquire goods they cannot otherwise afford and expect that the festival sales might get further depressed this year. Banks said that over Rs 1,000 crore of billings out of the monthly credit card billings of Rs 11,000 crore were coming from purchases billed under EMIs.

31/05/2013

Gold prices may fall by Rs 2,000 in medium term:

Gold prices may fall by Rs 2,000 from the present levels in the near to medium term as the precious metal is losing appeal as an asset, a report by industry body Assocham has said.
The report, however, said that gold is unlikely to fall below Rs 25,000 per 10 grams due to a strong buying support at that level and a weak Rupee against the US dollar.
Gold prices have come down to Rs 27,790 per 10 grams in the national capital this month from the high of Rs 32,990 per 10 grams in April.

31/05/2013

Bad loans to soar on new RBI norms

The Reserve Bank of India has said that from April 2015 banks will no longer have the leeway to relax repayment norms for troubled companies without classifying their loans as non-performing assets, which would lead to a surge in bad loans. RBI has also asked banks to increase provisions on loans restructured from June 2013 to 5% from the present requirement of 2.75%.

Until now, RBI restructuring norms allowed banks to avoid applying the 'bad loan' tag on distressed accounts which were given additional time to tide over difficult circumstances . Classifying a loan as a bad loan forces the bank to set aside a large portion out of its earnings to make up for loss arising out of a potential default. However , the central bank has made exceptions for project delays in infrastructure and commercial real estate. The new norms are based on the recommendations of a working group headed by B Mahapatra, executive director at RBI released earlier this year.

29/05/2013

We are happy to inform you that we now have tied up SBI General Insurance. Please contact us on 85531 66786 / 98453 77281 for all your general insurance (non-life) needs such as Vehicles, Health, Home, Factory, Travel Insurance etc.

04/05/2013

Home loan rates may drop on RBI signals !!!!

Home loans are set to get cheaper after the Reserve Bank of India (RBI), in its credit policy for 2013-14 , cut the repo rate — at which it lends short term funds to banks — by 25 basis points to 7.25%. The RBI also said residential housing projects are less risky than other sections of the commercial real estate sector, hinting at lowering rates on loans to developers to implement housing projects.

However, the head of the home loans division of a PSU bank said banks may lower interest rates only for fresh borrowers, not existing ones.

The banker explained that banks were unlikely to implement rate cuts on housing loans through a reduction in the base rate. They would prefer to lower the differential charged over and above the base rate. This would mean that the interest rate would not be reduced for existing borrowers, but would drop for fresh borrowers.

02/05/2013

Getting loan against property more cost-effective
Even if you are a meticulous saver, there may be times when your finances are strained and you need a little help to tide you over. Though borrowing from family or friends is a preferred option for many, if the amount you need is large, it may not be a good idea to stress their finances as well. A better option would be to leverage an asset you own—your house.

You can use your house as collateral to take a loan from a bank. The latter will exercise due diligence as far as the property is concerned, appraise its value, and offer you up to 70% of its value as loan. Since this is a secured loan (you are offering a collateral), you can get a higher amount than the one you will get for an unsecured loan like a personal loan. Of course, you will also have to pay the administrative and processing fee, which is usually 0.5-1.5% of the value of the loan. Typically, the tenure for such a loan is 1-9 years, but some banks may be willing to extend it to 15 years if the loan is large. The interest rate, which can be floating or fixed, varies from 12-16%, which makes them cheaper than personal loans

Taking a loan against your property is certainly cheaper than a personal loan, where the interest rate is usually between 14% and 22%. The only loan that is less expensive than the one against a property is a home loan

It's also a better option since the tenure for these loans is longer than those for personal loans, which offer a maximum term of five years. Of course, you can prepay the loan, with the banks following the same guidelines as those for regular home loans. Though they cannot charge any fee for floating rate loans, there is a 2-4% penalty for fixed rate loans.

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Bangalore
560042

Opening Hours

Monday 9:30am - 6pm
Tuesday 9:30am - 6pm
Wednesday 9:30am - 6pm
Thursday 9:30am - 6pm
Friday 9:30am - 6pm

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