A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
There is a need for real-time or near real-time credit reporting, instead of the current fortnightly system, to improve underwriting precision, enable timely reflection of borrower actions such as loan closures or repayments, and deliver a superior consumer experience, Deputy Governor of the Reserve Bank of India (RBI), M Rajeshwar Rao said on Wednesday.
Consumer loans or personal continue to record the highest fraud incidence.
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
Section 45, which says no claim can be rejected after three years of a policy being in force, remains a bone of contention
Often, these gangs tie up with former sector employees to understand how the process works
More credit bureaus to ensure faster dispute resolution.
Decades of immigration from India has led to a situation in which Singh and Patel are among the most popular surnames in Britain, a new study has discovered. In the last 100 years, the number of people named Ahmed, Singh and Ali, has increased by more than 1,000 percent each.
Reports suggest state-owned banks have lapped up Rs 40,000 crore, so far, using both bonds and equity instruments. The question, though, is whether there will be a perceptional change for PSB stocks.
Sacrifice these common misconceptions to improve your credit score this Eid
Following are certain important things that lenders consider while processing loans to self-employed...
Rajiv Raj tells you about some easy financing options to deck up your home
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.
Making purchases on your credit card can turn out to be a better idea. Here's why.
You can gift your sister a Women Special Credit Card, which is not only loaded with exciting rewards for women, but they are also your sister's first step towards a better credit management.
While you can always correct them, the sooner you do it the better it is for you, says Sanjay Kumar Singh
Documents such as PAN card, Aadhaar card, I-T return papers, which are used for KYC, can get leaked from a number of sources. Other prominent sources are the direct sales agents and photocopy shops, say Sanjay Kumar Singh.
Just avoid these credit card mistakes and live your second innings in style, says Rajiv Raj
Top four consequences for you to keep in mind before you miss a mortgage payment
Rajiv Raj tells you why a store credit card is not a good idea, even though you are tempted with extra 'savings' of 10 per cent on your purchase or a 5 per cent cash back or a 'sign on bonus'.
Building your credit from scratch during your post-graduation years is a good idea because it gives you the opportunity to build a solid foundation for your credit history. Here's how to go about with it.
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
If variation is over 50 points, write to the bank and bureau immediately to correct the discrepancy
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
In order to be eligible for a loan when you really need one, it is imperative to maintain a good credit score. By having a good mix of debt and servicing it regularly, you can maintain a good credit score and be loan ready at all times.
Understand the finer points before signing on the dotted line as a guarantor
Do not share your passwords or personal information with anyone.
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.
The principles and lessons of Ramzan are not just applicable to Muslims, but contain the wisdom that can help one and all whether in life or with one's finances.
Middle class Indians have grown up with the belief that living on credit is essentially a bad thing. You are in trouble if you think the same, cautions Rajiv Raj
Consider these six things before going crazy on the big sale war between Flipkart, Amazon and Snapdeal!
Here's why it happens and how you should avoid it.
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.
While you go about it, please note that if it is difficult for you to keep your spending habit in check, all the benefits of getting a credit card limit increase will be pointless.
2016 has just begun and the first festival of the year is already here. Makar Sankranti it is! On this occasion let's think about how to get our kites and CIBIL scores to soar high
Credit cards are not inherently bad. If used responsibly, they can be a saviour in times of need.
Do you know that your application can get rejected on account of a not so perfect CIBIL score?
Here are 5 ways you can get a credit card even if you do not have a job.
