Most borrowers of loans against property pin hopes on future cash flows from their business, but in case of failure to repay the loan, the lender can repossess the property and sell it.
Credit cards, if used properly, can be a great way to build one's CIBIL score.
Somewhere in Cakewalk's forced enigma and clumsily written dialogues hides a slice-of-life about closure and grace, feels Sukanya Verma.
Some of the most common grounds on which card issuers reject credit card applications in India, along with tips on how to overcome these hurdles.
Lenders use these scores only as a preliminary filter.
As you ring in the New Year, here's a list of the 10 most important financial resolutions to get your money train back on track.
Life hacks to get your financial situation under control
More credit bureaus to ensure faster dispute resolution.
On the consumer front, CIBIL is working towards simplifying the process of fetching credit scores -- it is tying up with a payment gateway which will help individuals fetch theirs scores online by making an online payment.
You will be able to access your credit scores in December 2010. The score will range from 300 to 900, indicating the levels of default. It will be available to consumers for a sum not exceeding Rs.100 as prescribed by the RBI. CIBIL, which already has a huge database of credit reports - which are currently consulted by banks before sanctioning a loan is putting up the infrastructure to be ready to service consumers who wish to access their credit reports.
Most companies inform the employees upfront about the background checks that would be carried out. And a clause is included in the appointment letter of the employees that the final decision will be subject to the results of background verifications.
Has your personal loan, or home loan, or car loan been rejected off late despite having cleared all your previous bank dues? Perhaps it's your faulty credit report at work. It's about time you know how to get it corrected.
In an online chat with readers January 24, Rajeev Mahajan of Antworks answered queries on personal loans and peer to peer lending.
Following are certain important things that lenders consider while processing loans to self-employed...
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
There are many advantages if you have a good credit score. You can get loans at lower rates of interest particularly for unsecured loans like personal loans.
This central registry will help banks, financial institutions and non-banking finance companies get mortgage details of consumers before issuing loans against property. The personal loan score will provide details on the likelihood of customers becoming 91 days delinquent on a personal or consumer loan over the next 12 months. It will range between 300-900, indicating the levels of default. A home loan repository and a fraud repository will also be launched soon.
You can still save a little more than you already are by changing a few spending habits.
When you apply for a loan or a credit card, lenders call for a copy of credit report from Cibil before considering your case
Going through these steps are by no stretch of imagination fun things to do, but if you do indeed lose your wallet, these steps may come in handy and reduce your stress.
While there is easy access to money, the flip side is the high interest rate and processing fees, points out Sarbajeet K Sen.
If variation is over 50 points, write to the bank and bureau immediately to correct the discrepancy
The Credit Bureau of India (Cibil) is set to launch a credit score database that will reflect the creditworthiness of every borrower in the country.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Understand the finer points before signing on the dotted line as a guarantor
The wise pay their taxes on time and plan for it before time. That does not mean one has to necessarily go through the big fat books on taxes! Knowing a couple of hacks for saving tax can have it sorted for you.
If you have recently been laid off or are worried that your neck may be in the line, it is natural to be worried about your finances. But worrying, as you know, will not get you anywhere. Here are some tips about what you can do to keep the boat from rocking and keep your CIBIL score intact while doing so.
Until your home loan is sanctioned, some silly mistakes on your part before making the first move can derail the most important goal of your life.
After showing a consistent rise in the previous 4 quarters, gross NPAs of 40 listed bank declined to Rs 10.03 trillion at the end of June 2018, from Rs 10.25 trillion in the previous quarter.
Let the festivities and celebrations begin; get yourself a credit card this Onam. Shop with it, earn reward points, make your family happy but remember to never go overboard or miss your payments, says Rajiv Raj
Remember to take important documents like no dues certificate.
Managing your own money is empowering. And if you haven't started yet, now is the perfect time!
Work fetches money and that is what keeps us going. But how about money fetching more money? We plan to give you what you need to get started.
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
Go make a beautiful home but spend smartly and wisely!
Couples, who plan money together, stay together and get rich together!
The Asset Reconstruction Company of India Ltd, promoted by the State Bank of India, ICICI Bank, IDBI and other banks, is slated to start operation by the middle of this month.
Money is a touchy topic for most of us. Money fights between couples are all about control and freedom. Keeping the communication channels open and respecting each other's attitudes can help couples manage finance better.
Six money lessons you can learn from the popular game
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