Credit Score: When does a closed credit account reflect in your credit score?
Closing a credit account can temporarily impact your credit score. Credit bureaus refresh your credit report on a monthly basis, however, any new activities may take up to 3 to 4 months to reflect in your credit report.
How To Manage Personal Loan? A Step-by-Step Guide
From understanding loan terms to creating a budget and prioritizing repayments, learn more about essential strategies for managing personal loans.
Actual Cost of a Personal Loan: Don’t ignore these fees and charges
When applying for a personal loan, understanding the total cost is crucial to avoid any surprises. Apart from interest rates, fees like processing charges, prepayment penalties, and late payment fees can significantly add up to your overall expense.
Gold loan risks: RBI exposes irregularities, borrowers beware
While taking out a gold loan, borrowers need to beware of potential pitfalls. To ensure a secure experience, it's crucial you do proper research, and compare interest rates and charges from various RBI-approved lenders.
How to get a quick personal loan: Your essential guide for instant loan approval
Applying for a personal loan has never been easier with digital platforms offering quick approvals and instant disbursal. With minimal paperwork and no collateral, you can secure cash for your personal needs in just a few hours.
Wedding loans: Are Gen Zs, millennials risking their financial future in pursuit of social media ‘likes’?
A growing number of younger couples in India are choosing to self-fund their weddings, but nearly 26 percent are using personal loans to cover costs. Destination weddings and personalised experiences are key drivers of this trend. However, financial advisors warn of high interest rates, potential penalties, and impact on credit scores.
Personal Loan: Easy tips to get a good personal loan interest rate
Factors such as your credit score, monthly income, and loan tenure impact the personal loan interest rate you'll be offered. Learn how to secure the best personal loan rates and save on interest outflow.
Personal Loan Prepayment: Key points to consider before paying off your loan earlier
Prepaying a personal loan can save you money and offer financial freedom, but it's essential to weigh the benefits against the costs. Careful planning and understanding of the process can help you make an informed choice.
How to pay off personal loan faster and save big
Paying off a personal loan faster can save you significant interest payment. Learn more about strategies like making extra payments, choosing shorter tenures, consolidating debt, and more to make your personal loan repayment more efficient.
Personal loan impact on credit score: Key factors and tips to manage
A good credit score is essential when applying for a personal loan, as it impacts your chances of approval and interest rates. However, while availing a loan can boost your score through timely repayments, applying for one can also cause a temporary dip due to hard inquiries. Managing your personal loan responsibly is key to protecting and improving your credit score.
Best Personal Loan: How to choose & key factors
Choosing the best personal loan can be tough with so many options available. It's important to understand your needs, compare interest rates, and review loan terms carefully. Don't forget to consider your repayment budget, fees, and eligibility criteria before applying.
Personal loan without salary proof? Check these quick tips
If you have a credit score, generally online personal loan apps do not require you to provide any salary proof. In certain cases you may need to furnish documents such as a bank statement or ITR to help the lender assess your income.
NaBFID's loan sanctions to rise to Rs 3.2 lakh crore by end of FY25, says MD Rajkiran Rai
On the equity investment front, Rai said that the company is not looking for it, but did not ruled out the possibility going ahead.
How a Personal Loan Works: Eligibility, Interest Rate, Loan Amount and More
Availing a personal loan is almost instant now. Using the tips shared in this article you can avail the best personal loan at competitive interest rates without any hassle.
Applying for a home loan in India? Here is what NRIs need to know
Home Loans for NRIs: While opting for NRI home loans in India, it is important to understand that the interest rates applied will be slightly higher. Also, repayment should be done only through an NRI account.
RBI penalty on HDFC Bank: Know the recovery agent rules that lenders cannot violate
As per RBI guidelines, recovery agents are required to follow a strict code of conduct when dealing with borrowers – they have to maintain decency and courtesy, respect personal space and adhere to specified timings for contacting borrowers.
Govt considering to increase limit on Kisan Credit Card loans
Talks are on to also conceptualise a PM-SVANidhi kind of scheme for tenant farmers
Inside ONDC’s financial services game plan over next 18 months
The network is set to roll out full-suite of B2B and B2C financial services including insurance, mutual funds and credit cards; and some unique ones like crop yield financing and cow financing.
Private capex gaining traction, set to rise further in FY25: RBI Bulletin study
Envisaged capex set to increase 54 percent to Rs 2.45 lakh crore in FY25 from Rs 1.59 lakh crore in the previous year
Applying for a personal loan from a fintech lender? Here are five parameters to consider
Borrowers are applying for small-ticket personal loans to meet immediate financial needs, such as medical expenses, debt consolidation, home renovations, holidays, education costs, and the like. Before applying for a loan, it is important to evaluate the key fact statement and other parameters.
Personal loans: Banks offering the lowest interest rates on a Rs 5-lakh loan during the festive season
Bank of Maharashtra, HDFC Bank and ICICI Bank offer interest rates between 10 and 10.8 percent on a personal loan of Rs 5 lakh for a tenure of 5 years.
PSBs disbursed Rs 28,700-crore education loan for higher studies in FY24
PSBs disbursed Rs 24,997 crore in 2022-23 and Rs 28,699 crore in 2023-24, Minister of states for Finance, Pankaj Chaudhary said.
Indian Overseas Bank gains Rs 190 crore post transition to revised asset classification norms, says MD & CEO
On co-lending front, Ajay Kumar Srivastava said many proposals are there but it's a matter of pricing and the bank takes a call accordingly.
Home loans: How banks evaluate your proposals
Your credit score, down payment and debt-to-income ratio are among the metrics used by banks to decide whether you can repay the loan or not. .
Personal Loan for Wedding: Should you take loan to fund marriage expenses?
Marriage Loan: There is a growing trend among youngsters nowadays to contribute towards their wedding expenses and not have their parents burdened. While this is an appreciable thought, it works best if the children have saved up money for this. If not, then their only option is to borrow.
