Recently, I came across an interesting article in Mint about accessing your CIBIL score on WhatsApp. Your credit score is a measure of your credit worthiness. Higher your score, greater your credit worthiness. TransUnion CIBIL is one of the credit bureaus and the credit score CIBIL provides is known as CIBIL score. We have seen… Continue Reading
In this post, let’s look at New Home Loan product from DHFL (Dewan Housing Finance Limited). At the outset, I must concede that there is nothing special about this product. It is a plain vanilla home loan product. As simple as it gets. There is no fancy feature in this product that requires a deeper… Continue Reading
Recently, I watched an ad from Flipkart about Debit Card EMI. This sounded a bit strange to me. Typically, you would associate EMI with a credit card or a loan. Getting a credit card is not always easy. Your credit card application can get rejected for various reasons. A bad credit score is a common… Continue Reading
Bajaj Finserv EMI Card is a unique product where your purchase amount is automatically converted into EMIs. You can think of the product structure as a pre-approved loan. You can swipe or use the card (where the card is accepted) and the purchase amount will automatically be converted into EMIs. The attractive part is that… Continue Reading
I had written a post on loan against securities earlier. However, the process always seemed a bit drawn out. It can easily take up to 5-6 days to avail the facility. HDFC Bank has come out with a loan facility — Digital Loans against Mutual Funds or Digital LAMF — where you can pledge your… Continue Reading
It is easier to get a loan if you are a salaried employee. Not so much if you are self-employed, proprietor or a professional. If you were not salaried when you applied for a home loan, you would know. By the way, most bank offer loans to non-salaried under the same loan products. Just that… Continue Reading
SBI has increased its MCLR (Marginal Cost of Funds based lending rate) multiple times (1, 2, 3) in the recent months. MCLR is the benchmark for floating rate loans. Therefore, if you have borrowed from SBI, your loan interest rate would have already gone up in the recent months. Never a happy situation for the… Continue Reading
If you fancy making asset purchases on credit, you would want to be aware how much loan amount you can get. I am not talking about minor purchases where you can simply swipe your credit card. Once the credit card is approved, you can use your card, subject to credit limit, wherever you want. The bank… Continue Reading
Festive season is round the corner. Frankly, the diversity in India ensures that the festive season never ends. There is always one festival or the other going on all the time. This is one reason festive season deals almost never end on popular retailer websites. However, during the later part of the year, starting August, festivities actually… Continue Reading
Your credit score plays an important role not just in determining whether your loan gets sanctioned but also in the interest rate you pay on your loan. One of the major inputs during calculation of your credit score is your credit utilization ratio. What is credit card utilization ratio and why should it affect your credit score?… Continue Reading