You need to have a strong credit profile and a high credit score to qualify for a home loan of ā¹1 crore. Financial institutions heavily rely on credit scores to understand and assess an applicant’s repayment potential, creditworthiness and financial capacity. These factors cumulatively influence loan approval, interest rates and associated terms and conditions. According…
For numerous Indian students, securing an educational loan is a critical step towards accomplishing academic success. Still, lacking a proper credit score and a clean credit history can pose significant challenges in securing education loans on easier terms. Even in such circumstances, it is important to acknowledge the fact that there are still several avenues…
A credit score of 650 is considered average at best in India. This score has the potential to limit access to premium financial products and services. With this score it becomes very difficult to secure premium credit cards, fair and reasonable interest personal loans, easy home loans etc. Now, elevating this credit score in the…
The Suryoday Small Finance Bank (SSFB) provides users a clearly defined and streamlined process for seeking two wheeler loans. The objective of this product offering is to make vehicle ownership more affordable and accessible to aspirational families across the country. With the benefit of competitive interest rates and minimal documentation, SSFBās two wheeler loans are…
Recently a case was reported where a woman has claimed that a fake captain has defrauded her of ā¹17.5 lakh. This is how it happened: Manpreet Kaur’s husband who works in the Army as Naik was approached by a colleague and was introduced to āCaptainā Sagar Guleria who ā he claimed ā had helped a…
A credit score of 750 or more is generally considered excellent in India. Still, many applicants find themselves in difficult situations, facing denial when applying for premium credit cards. This contradiction clearly highlights that a credit score is important but still, it is not the sole determinant for the approval of premium, high end credit…
People have various credit options in the current financial world to manage expenses and achieve financial goals. Two of the most common forms of credit are personal loans and credit cards. This article discusses the suitable occasions for the use of credit cards and personal loans while providing information to empower you to make informed…
In everyday life, we often use the terms credit score and credit report interchangeably to describe the evaluation issued by a credit bureau regarding our creditworthiness. While both serve as tools for lenders and financial institutions to assess an individualās or businessās creditworthiness, they refer to two distinct aspects of credit evaluation. A credit bureau…
The Reserve Bank of India (RBI) has recently reduced the repo rate by 50 basis points. This gives the home loan borrowers a timely chance to recheck, replan and decide on their repayment strategies. In such a case lowering your Equated Monthly Instalments (EMIs) can immensely ease your financial burden and result in significant interest…
IDFC FIRST Bank offers a debt consolidation loan via FIRSTmoney to simplify repayment by collating numerous loan debts into a single debt so that borrowers can repay with manageable instalments. This approach not only helps borrowers manage their finances well but may also reduce overall interest costs. The features offered by First money include zero…
