In its new policy news, RBI has announced that there is going to be a further increase in the Home loans and Auto loans by 25 basis points. “The RBI has sought to maintain an interest rate environment that moderates inflation and checks inflationary expectations,” the Finance Ministry said in a statement, adding that this… Read More »
When there is a hike in the interest rates, there are certain quick steps you need to take. Negotiate the rate : When Remit Malhotra’s bank raised the interest rate on his loan from 9% to 12%, he wanted to refinance his loan. Rather than lose him to another bank, his bank offered to lower… Read More »
Over the last two years, interest on home loans has gone up by at least 200 basis points (100 basis points =1%), from about 8% to above 10%, even for those borrowers who have a good credit standing. When we calculate the approximate loan tenor after such an increase, the tenors can even go beyond… Read More »
Yes, this is latest news from the education loan section from banks across India. The reason for this decision are many, but valid. Banks do not ask for any collateral security for education loans under Rs4Lakh. And with the increase in the number of bad debts cases within this loan range has raised concerns with… Read More »
With the rising credit crunch, and inflation looming in the air, most students are unable to find their way through the placements that colleges’ offer. Even in the great B-Schools of the country, the placement structure seems to be very gloomy. Most Graduates when they finally, get through admissions in their sought after postgraduate universities,… Read More »
Many times we always get lured by the lucrative discounts and schemes that banks have to offer for opting for a personal or credit card. But very little do we want to analyze whether we actually need such debt traps or not. Sathish walked into a credit counselling Centre with a huge burden of credit… Read More »
It may seem hypothetical to get your processing fee waived off on your home loan or to be benefited from lower interest rates on your personal loan. But these situations can be possible if you have a good credit score and have excellent bargaining skills. Banks will most certainly like to lend to those borrowers… Read More »
Borrowing is not a savings devil unless, you know how to utilize this debt and increase your asset base. It should factor in two main reasons: It should either fund an appreciating asset. Be repaid from a steady future stream of income, preferably both. A loan helps the borrower and the larger economy as well… Read More »
The launch of India’s first credit score for individuals, the Cibil TransUnion Score, is one of the land mark achievements made in our country till date. This report will ensure transparency among borrowers and lending institution. Most lending institutions prefer to lend to only those borrowers whose credit standing is more than 800 on a… Read More »
When you agree to become a loan guarantor, you will shoulder the liability of the loan. To simplify, if the borrower has to repay to the bank and has defaulted, the bank will in turn hold you liable to repay the loan. You will be entitled for: Repaying the loan if the borrower chooses not… Read More »