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The Herald Scotland
16 hours ago
- Business
- The Herald Scotland
Survey reveals mixed bag for Scotland's golf courses
The received wisdom is golf, and golf clubs in particular, were in a general state of decline before the pandemic with a 20% reduction in membership levels during the 20 years prior. Then along came the 'Covid bounce' when golf was among the first activities allowed during the lockdown period, rekindling the game's popularity and reviving financial fortunes. Our survey shows, while this has undoubtedly been the case for some, the broader situation is not as clearcut as that narrative suggests. Some report they were managing well up to 2020 but have since been undone by the inflationary surge of the cost-of-living crisis, which has outweighed any gain in membership numbers. Others that were previously struggling are, unsurprisingly, continuing to have a tough time. Those with waiting lists and larger memberships have tended to fare better throughout, but there is a sprinkling of high-profile facilities and clubs in wellheeled areas who say their finances are not as strong as many outsiders might have guessed. Read more: Today's big read in Business HQ Monthly delves into the numbers. We also speak to the secretary of a small community club about the challenges it is up against and what has been done to try and overcome those difficulties. It marks the start of a three-day series that will be followed tomorrow by the findings from the survey on clubs' opinions of governing body Scottish Golf, and the potential financial impact of implementing a 'one player, one fee' system in the collection of affiliation payments to Scottish Golf. OpenPlay, the flexible subscription for non-club members to obtain an official handicap, comes under the microscope on Saturday and we also speak to some clubs that are working together to improve their financial fortunes. Read more: Buoyed by unseasonably warm and sunny weather, there was a boom this past spring in the number of people playing golf across the country. Christopher Spencer, who heads up the Scottish arm of the Club Management Association of Europe, believes this could translate into a boost for the entire sector in 2025. 'More and more people are out playing golf because the weather has been great, which is fabulous for golf clubs because hopefully they will then use the facilities as well, rather than just turning up to play golf,' he said. 'So let's hope we have a really good summer – not too dry, we could do with a little rain to encourage growth – but fingers crossed it will be a really good year all around.'
Yahoo
2 days ago
- Business
- Yahoo
EssilorLuxottica: Result of the payment of dividends in shares and record of the corresponding capital increase
Result of the payment of dividends in sharesand record of the corresponding capital increase Paris, France (June 3, 2025 – 4:30 pm) – The Annual General Meeting of EssilorLuxottica has decided to grant to the shareholders the option to receive their dividend in shares. The price for newly issued shares for the payment of the dividend has been set at Euro 222.02 per share. This price corresponds to 90% of the average of the opening prices quoted on Euronext Paris over the twenty trading days preceding the date of the Annual General Meeting less the final dividend to be distributed for the financial year ended on December 31, 2024, this total being rounded up to the next Euro cent. The period to opt for payment of the dividend in newly issued shares was open from May 9, 2025, up to, and including, May 30, 2025 (except for shareholders holding shares in pure registered form who exercised such option on May 28, 2025 at the latest). At the end of the option period, 316,917,525 rights were exercised in favor of the 2024 dividend payment in shares. For the purposes of the dividend payment in shares, 5,638,328 new shares will be issued, representing 1.23% of EssilorLuxottica's share capital on the basis of the share capital as of April 30, 2025. The settlement and delivery of the shares as well as their admission to trading on Euronext Paris will occur on Thursday, June 5, 2025. The new ordinary shares allocated in payment will confer the same rights as the existing shares and carry current dividend rights conferring the right to any distribution paid out as from the date of their issuance. The total cash dividend to be paid to the shareholders who did not choose the share option amounts to Euro 547,443,171.60 and will also be paid on June 5, 2025. To see the monthly disclosure of share capital and voting rights as of April 30, 2025, please click here and go to the Monthly Disclosures of Share Capital and Voting Rights section. Attachment DOWNLOAD THE PRESS RELEASEError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Mint
4 days ago
- Business
- Mint
Personal loan EMI calculator: How it works and what impacts your EMI
Whenever a borrower takes a personal loan, the bank or the NBFC shares the EMI payment schedule. It has the details of the EMI amount, the number of EMIs, the EMI break up (principal and interest), etc. Have you ever thought about how the EMI is calculated? In this article, we will understand how the personal loan EMI is calculated and the factors that influence it. The personal loan EMI (Equated Monthly Instalment) is the fixed amount that a borrower needs to pay every month to the bank or NBFC. The EMI has to be paid on a fixed date every month throughout the loan tenure. The bank usually asks the borrower to sign an auto-debit mandate. The mandate allows the bank to auto-debit the borrower's bank account with the EMI amount every month on a specified date. A personal loan EMI has two components: the principal you borrowed from the bank, and the interest the bank charges. Let us understand how the personal loan EMI schedule looks with an example. Karan has taken a personal loan of Rs. 1 lakh at an interest rate of 12% p.a. for a tenure of 1 year. Karan's EMI schedule will look as follows. Month Loan opening balance (Rs.) EMI (Rs.) Interest component (Rs.) Principal component (Rs.) Loan closing balance (Rs.) 1 100000.00 8,884.88 1000.00 7884.88 92115.12 2 92115.12 8,884.88 921.15 7963.73 84151.39 3 84151.39 8,884.88 841.51 8043.36 76108.03 4 76108.03 8,884.88 761.08 8123.80 67984.23 5 67984.23 8,884.88 679.84 8205.04 59779.19 6 59779.19 8,884.88 597.79 8287.09 51492.11 7 51492.11 8,884.88 514.92 8369.96 43122.15 8 43122.15 8,884.88 431.22 8453.66 34668.49 9 34668.49 8,884.88 346.68 8538.19 26130.30 10 26130.30 8,884.88 261.30 8623.58 17506.72 11 17506.72 8,884.88 175.07 8709.81 8796.91 12 8796.91 8,884.88 87.97 8796.91 0.00 Karan will have to pay a monthly EMI of Rs. 8,884.88. The above table shows how, during the initial months, the interest component is higher, and the principal component is lower. As the EMI schedule progresses, the principal component goes on increasing, and the interest component goes on decreasing. Karan will pay a total interest of Rs. 6,618.55 over the one-year personal loan tenure. In the above example, we saw how Karan has to pay an EMI of Rs. 8,884.88 on his personal loan. The EMI amount is arrived at using the following formula. Personal loan EMI calculator formula P is the principal or loan amount, which in our example is 100000 (Karan has borrowed Rs. 1 lakh) n is the loan tenure in months, which in our example is 12 (Karan has taken the loan for 12 months) r is the monthly interest rate, which in our example is 0.01 (12% annual interest rate or 0.12 divided by 12 months = 0.01 monthly interest rate) When you substitute the above values in the EMI formula, you will get the EMI amount of Rs. 8,884.88. However, you can get readymade calculators online. You can get them on banks, NBFC, or other personal finance websites/apps. Hence, you need not manually remember the above formula and calculate the EMI amount. The other option is to calculate the EMI in an Excel spreadsheet using the PMT formula, which is as follows. = PMT (rate, nper, pv, fv, type) rate is the monthly interest rate, which in our example is 0.01 (Karan has taken the loan at 12% per annum or 0.12. When we divide 0.12 annual interest by 12, we get the monthly interest rate as 0.01) nper is the loan tenure in months, which in our example is 12 pv is the principal loan amount, which in our example is 100000 fv is the future value, which in our example is 0 type is whether payment is timed at the end of the period (0) or at the beginning of the period (1), which in our case is 0 You need to enter the following formula in an Excel spreadsheet You will get the EMI amount of Rs. 8,884.88 In the earlier section, we understood how the personal loan EMI is calculated. Now, let us look at the factors that influence the EMI. Some of these factors are as follows. The bank decides the rate of interest on the loan. The higher the interest rate, the higher will be the EMI amount, and vice versa, other things being equal. In our example, the interest rate on Karan's loan is 12% p.a. If the interest rate is higher than 12%, the EMI will be higher. If the interest rate is lower than 12%, the EMI will be lower. The loan amount, also known as the principal, is the amount borrowed from the bank. The higher the loan amount, the higher will be the EMI amount, and vice versa, other things being equal. In our example, Karan's personal loan amount is Rs. 1 lakh. If the loan amount is higher than Rs. 1 lakh, the EMI will be higher. If the loan amount is lower than Rs. 1 lakh, the EMI will be lower. The loan tenure is the number of years or months for which the personal loan has been taken. A higher tenure will result in a lower EMI, and vice versa. Choosing the loan tenure can be tricky. If the tenure chosen is longer than required, the borrower will end up paying more interest. If the tenure chosen is shorter than required, the higher EMI amount may pressure the cash flows and disturb the monthly budget. A down payment is the amount you pay upfront from your pocket for purchasing something. The remaining amount is financed with a loan. In a personal loan, there is no down payment. However, in loans like home loans, vehicle loans, etc., there is a down payment. The higher the down payment, the lower will be the loan amount; and thus, the lower will be the loan EMI. You must compare personal loan interest rates across banks and NBFCs using an online aggregator. Shortlist 3-4 lenders with lower interest rates and take the discussion forward with them. Do you have a higher credit score? If yes, you can use it to negotiate with banks for a lower interest rate on personal loans. In this article, we have discussed what a personal loan EMI is, how it is calculated, and the factors that influence it. It can help you calculate the EMI before you take a personal loan. When you know the EMI in advance, you can check the monthly budget and evaluate how to make a provision for it. When you know the EMI before taking the personal loan, you can calculate the debt-to-income (DTI) ratio. If the DTI ratio is higher than required, you can work towards lowering it, to avoid loan rejection. Thus, much-needed clarity on the personal loan EMI calculation can help you manage your personal finances better. Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn.
Mint
22-05-2025
- Business
- Mint
4 serious consequences of missing your home loan EMI payments
In the nation's ever evolving economic landscape, consistent and on time repayment of home loan Equated Monthly Instalment (EMI) holds immense value. It is imperative to make sure that the repayment of not only home loans but any other kind of loan is made on time and in seamless fashion to avoid any late payment fees or charges. Due to the same, missing out on even a single payment or EMI can result in serious financial complications and legal ramifications. Rishi Anand, MD & CEO, Aadhar Housing Finance Ltd says, 'Missing EMIs can damage your credit score, increase debt burden with late fees, and lead to loan foreclosure or legal action. As, the interest continues to accumulate on defaulted EMIs, further increasing your outstanding balance and putting greater pressure on your finances. To avoid this, set up automatic payments, prioritise timely repayments, and communicate with your lender if facing financial difficulties." Keeping the above points in mind, here are four critical reasons why staying current on your home loan EMIs is essential: Your credit score is simply a reflection of your financial prosperity i.e., how reliable you are in making repayments on time. That is why even a single missed EMI can result in causing a substantial drop in your credit score influencing your future savings and borrowing in a negative way. A delay of just one day can result in reducing your credit score by up to 25 to 30 points. A month-long delay may result in an even more serious dent, declining your score by 75 to 100 points. The negative remarks of default or missed payment can stick on your report for up to 7 years. Missing EMIs can result in financial penalties, legal difficulties etc. These additional costs can strain your financial health further and result in emotional and psychological problems. Late payment fees typically range from 1% to 2% of the EMI amount. Penal interest rates can be as high as 2% to 4% per month on the overdue amount. These charges accumulate quickly, increasing the overall repayment burden. Regular non payment can result in several legal difficulties including loss of your property along with other serious economic consequences: If you miss three consecutive EMIs then your loan account might be classified as a Non-Performing Asset (NPA). This will make future personal loans and premium credit cards nearly impossible to secure. Banks and financial institutions can initiate recovery proceedings against defaulters. These proceedings are initiated under the SARFAESI Act and have the possibility of property auctioning to meet loan shortfalls. Further legal actions, seizure of assets etc., can damage your financial standing and creditworthiness to an even larger extent. The consequences of missed EMIs extend beyond immediate financial penalties impacting your financial future and economic prosperity. A 'settled' status on your loan indicates partial repayment. It can lower your credit score by 50 to 100 points. Such negative information can stick on your credit report for about 7 years. Tarnished credit history can make it tough for you to secure new loans or credit cards. Hence, missing your home loan EMIs can significantly damage your credit profile. It can negatively influence your credit score, invite penalties and even result in serious legal consequences such as property and asset auctions along with seizure of funds for meeting repayment short falls. These developments generally take place on court orders still, it is always prudent for borrowers to avoid going in that direction as it creates financial instability, legal difficulties and complicates an individual's financial prosperity. Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice. Please consult a professional before making loan-related decisions.
Time of India
21-05-2025
- Business
- Time of India
Home loan interest rates less than 9%: 10 private banks offering lowest interest on home loan
Buying a home is a significant milestone, often requiring financial assistance through a home loan. Private banks offer home loans to help individuals buy, construct, or upgrade residential real estate properties. Understanding the nuances of home loan interest rates, the importance of a good credit score, Equated Monthly Installments (EMIs), and the important documents to check before buying a property can make this process smoother and more cost-effective. Importance of credit score Your interest rate is linked to your credit score, which can be ensured by timely payment of all EMIs and credit card dues. Being a super-prime borrower (score: 800+) helps you get a lower home loan rate. Equated Monthly Instalment Still confused between New vs Old Tax Regime? Find out which one saves you more with our tax calculator! EMI or Equated Monthly Instalment is a fixed amount paid by you to the bank on a specific date every month. The EMI's are fixed when you borrow money from the bank as a loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid to the bank along with interest. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You will never turn off your computer again. Undo Interest rate Many private banks offer home loans to their customers and interest rates differ depending on credit score, home loan tenure, age, and occupation. Here is a quick comparison of interest rates being offered by private banks in May 2025. Live Events The EMI is calculated on a loan of Rs 30 lakh for 20 years. Private bank Home loan interest rates EMI 1 J&K Bank 8 25,080 2 IDBI Bank 8.25 25,560 3 Karur Vysya Bank 8.45 25,950 4 HDFC Ban 8.5 26,040 5 Tamilnad Mercantile Bank 8.5 26,040 6 Kotak Mahindra Bank 8.65 26,310 7 South Indian Bank 8.7 26,430 8 Axis Bank 8.75 26,520 9 ICICI Bank 8.75 26,520 10 Karnataka Bank 8.78 26,580 What documents should I check before buying a new property? Below are the documents borrowers need to check when buying a new property. Sale Deed Title Deed Approved Building plans Completion Certificate (For Newly constructed property) Commencement Certificate (For Under-construction property) Conversion Certificate( If agricultural land is converted to non-agricultural) Khata Certificate (especially in Bengaluru) Encumbrance Certificate Latest Tax Receipts Occupancy Certificate By understanding the fixed and floating interest rates, maintaining a strong credit score, managing EMIs effectively, and verifying essential property documents, you can make informed decisions that align with your financial goals. How does my salary influence my home loan amount? According to SBI home loan FAQs, 'Apart from other criteria and norms of the lending bank, the home loan amount is generally calculated on the basis of your EMI and NMI ratio, where NMI is the take-home pay after taxes and other payroll deductions. The EMI/NMI ratio varies in the range of 20% to 70% for different Net Annual Income slabs. The loan amount can be increased by including a co-applicant.'
