Lenders rely heavily on your credit report to make a lending decision.
While hoping that you had a fun-filled Diwali, we remind you of a few things you can do with your money to make positive changes to your personal finances.
If the default continues for six months, banks give the borrower a two-month grace period to regularise the repayment.
While exciting car offers fill the marketplace, ensure you shop smart by considering safety, car finance and fuel apart from the features alone
Tax deduction under Section 80E is only available for loans taken for pursuing higher education
Portfolio values have eroded massively after the IL&FS default problem broke out. A market correction can wipe out your investments quickly and drill a big hole in your kitty making your financial goals appear far away
Avoid co-signing the loan if you have variable income or multiple financial commitments
Missed payments are reflected in the 'Days Past Due' and 'Amount Overdue' fields in the ‘Accounts’ section of your credit report.
Making timely repayments through a secured credit card, you can easily build a good credit score.
Remember, loans come first. If they are high-cost ones like credit card outstandings or personal loans, so do clear those first.
Home prices, which have witnessed a relative slowdown in growth, will continue to be under pressure, Japanese brokerage Nomura has said.
NRIs are eligible to apply for loans in India but should pay back the loan in Indian rupees only.
The purpose of setting a credit limit is to help maintain a good credit score.
Alternate credit scoring models have emerged as a solution to this since they are more inclusive as compared to the traditional models employed by banks.
A charge-off and a write-off are two completely different things. If your debt is charged off, it doesn’t mean that it is paid off.
As attractive as the scheme may appear, it can turn out to be a trap for borrowers/ buyers.
Credit card debts attract high interest rates, which may be as much as 40% annually on your unpaid amount. This is supplemented by late fees, collection charges, or even legal fees.
Involvement of higher loan amount and long tenure makes the decision of choosing the right lender for your LAP even more important
Typically, GST is charged at 12% of basic sales price of property for most under-construction properties except affordable homes where GST is charged at 8%.
You should ideally be using not more than 30% of your monthly income to service your debts.
Watch the video for a roundup of key happenings in the commodities market with a deep dive into some of the most active counters.
Some NBFCs provide funds covering complete cost of education, including living and other expenses, books and equipment, etc. without putting a cap on the amount that can be borrowed.
The interest rate you’re offered is almost always going to depend on your credit health.
People usually explore banks for an education loan, but the rising non-performing assets (NPAs) in this segment have made banks wary.
Many credit cards offer you complimentary access to airport lounges, not just at domestic destinations but also international ones.