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 »
Most banks and financial institutions approach the CIBIL for getting credit information of the prospective borrower. They use the Cibil TransUnion Score while deciding on the loan application of a consumer. This pursuit has been adopted due to the increase in the number of defaulters in the past. The report produced by CIBIL has dual… Read More »
Many investors react very shockingly if they witness a slight change of a mere 0.82% in their SIPs growth. There is nothing to be so alarmed about. Such a slowdown will not put your investments into risk and force you to opt for a debt like a personal loan or home loan etc to finance… Read More »
Subvention – a common trend in the Indian financial sector in order to boost the overall business. The concept of providing financial incentives is quite common especially in the car loan segment, although it has been introduced recently in the housing sector. However the extent of providing these incentives is not standardized. The process is… Read More »
With the rising interest rates by the day, it is not advisable to opt for a home loan since these rises are not going to end. But consider yourself lucky, to pay your EMIs worth 40% of your salary. That is possible only if you have been a prudent borrow. But if you have been… Read More »
There is no pre defined amount as to how much an individual can save. As individuals vary, so do their incomes, responsibilities, liabilities etc, differ. The only rule that has to be followed is to save as much as you can and cut down on unnecessary expenses. Keeping your personal requirements and your family circumstances… Read More »
Withdrawing from your PF and investing the funds in equities is not a desirable suggestion any financial advisor will give you. There have been some cases where people, due to emergencies tend to break the PF for meeting their requirements but breaking the funds and investing in equities is not worth. Your Provident Fund carries… Read More »