To ease the process of decision making while buying a house, we have put together important factors you need to consider.
Just avoid these credit card mistakes and live your second innings in style, says Rajiv Raj
No matter how attractive a pre-approved offer may seem, bear in mind that there are indeed no free lunches
If used without much care credit cards can become debt traps. But there are ways to use them to your advantage, says Rajiv Raj
Credit cards are not inherently bad. If used responsibly, they can be a saviour in times of need.
Banks create a credit profile of every person who approaches them for a loan. This is a very vital part of any loan application process and banks do consider it very seriously before sanctioning any kind of loan.
If you are a compulsive credit card user and are at a loss about how to regulate your credit card spend, here is help at hand!
'Usually, customers who don't get loans from banks approach NBFCs.' 'This is one reason NBFCs price their loans costlier than PSBs or private banks.' 'NBFCs will have higher delinquencies levels than private banks for most products.'
Besides a good CIBIL score, lenders also look at the applicant's ability to pay off the additional debt burden. This is where Yash had a problem.
Credit cards, if used properly, can be a great way to build one's CIBIL score.
There may be huge discounts and easy EMI options on your favourite expensive smartphone, but do not swipe your credit card left, right and centre, warns Rajiv Raj
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Before opting for a joint home loan with your parents or spouse you must first understand the implications of this loan.
Top four consequences for you to keep in mind before you miss a mortgage payment
If you are the owner of multiple credit cards, here are some dos and don'ts you need to know about credit card management.
Do you save to spend or spend to save? If you belong to the second category, reward points can only harm your financial health.
If you're considering settlement as a solution to end your debt problems, take a step back and consider the risks associated with such settlements.
In FY24, loans given out by such firms had topped a whopping Rs 146,517 crore, up by 49 per cent year-on-year and spread over 10.19 million accounts (up 35 per cent).
If you are one of those who is now staring at your credit card bill and wondering how to go about it, here is the way out.
Instant approval, no due diligence, conversion to easy-to-pay EMIs, nominal processing fees are some of the reasons why credit card loans are better
Harshala Chandorkar, senior vice president, CIBIL, answered readers' queries on the risks related to guaranteeing a loan in an online chat with readers, January 27
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 more you know about using a new credit card, the more you reap!
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
If allowed to go unchecked, this addiction can wreck you financially as well as emotionally.
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.
'The last year's growth is a foretaste of things to come in the retail credit market.'
Harshal Chandorkar of CIBIL answered queries on credit report and in an online chat with Get Ahead readers on october 28.
So how does one protect themselves from misuse of their credit cards? Here are a few helpful suggestions.
While there is easy access to money, the flip side is the high interest rate and processing fees, points out Sarbajeet K Sen.
You would find NBFCs more willing to lend even if you have a poor credit score, says Adhil Shetty
In an online chat with readers January 24, Rajeev Mahajan of Antworks answered queries on personal loans and peer to peer lending.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
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.
Understand the finer points before signing on the dotted line as a guarantor
There is no such thing as 'free' credit cards. Most of the charges associated with your card are not even told upfront to you. Knowing about these various fees and charges will put you in good stead and help you use your card prudently.
Duly paying your education loan installments on time, each month, is the best thing that could be done to maintain a good CIBIL TransUnion Score.
Because a settled account will do more damage to your credit history than you can imagine.
Let not the smartness be confined only to your phone... Transfer it to borrowing too! Here's how
It's unfair, isn't it? That good borrowers are not rewarded for their discipline and are forced to subsidise indisciplined borrowers who may pose higher credit risk...
