If you default, the bad behaviour stays in your credit report for a very long time
Here are the many pros and some cons of going for such an arrangement
Here are some pointers that should serve as red flags for you
Make your 'dream-home' dream come true
Co-signing a loan is a huge responsibility and can impact you greatly. Here's what you need to know before your generous streak gets the better of you!
You would find NBFCs more willing to lend even if you have a poor credit score, says Adhil Shetty
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
It is not very easy to wriggle out of your role as a guarantor in case the original borrower defaults. Nevertheless, you can still come out of the situation with your credit record intact.
More credit bureaus to ensure faster dispute resolution.
Banks will also consider requests from MSMEs for restructuring their stressed standard assets. So far, only 25 per cent of the around 1 million eligible MSMEs have taken benefit of the RBI's special dispensation.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
Gandhiji inspired the nation to believe in their dream. He continues to be an inspiration to each one of us by making us believe in our dreams. Make that home loan work for you and don't give up till you sign on the dotted line for owning your dream home.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
Life hacks to get your financial situation under control
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.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
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.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned 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.
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.
In an online chat with readers January 24, Rajeev Mahajan of Antworks answered queries on personal loans and peer to peer lending.
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.
Following are certain important things that lenders consider while processing loans to self-employed...
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.
For a borrower, who has serviced his loan without missing any repayment, the banks will be willing to take over the loan, give a top-up, and would offer lower interest rates, says Tinesh Bhasin.
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
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.
Lenders had filed 1,251 cases to recover Rs 24,765.5 crore. Wilful defaulters are the entities that do not pay back money despite the ability to do so. Defaulters above Rs 1 crore were considered for this exercise.
You can still save a little more than you already are by changing a few spending habits.
Managing your own money is empowering. And if you haven't started yet, now is the perfect time!
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.
Six money lessons you can learn from the popular game
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.
A woman can do many wonderful things if she wishes to, and one of them is to grow her money.
Couples, who plan money together, stay together and get rich together!
If borrowers don't have access to a bank's credit facility, it could make sense to use peer-to-peer systems.
Close to 29 per cent of all complaints received from customers is related to ATM, debit card and credit card payments
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances