When we are scouting for a loan, many of us focus merely on the interest rates. While the rate of interest is clearly the biggest head, you must not ignore other ancillary charges of a loan. The charges (and their nomenclature) depends on the bank/NBFC and also on the type of loan you are going for. Clearly,… Continue Reading
You have a medical emergency in a family and need funds to settle a hospital bill. You have tried other options but those have not materialized. You are planning to take a personal loan. A friend tells you about the concept of medical loan. You are told that the interest rate on a medical loan will… Continue Reading
Expecting a hefty annual performance bonus? It is the time of the year many of us start getting excited about the salary hikes and annual bonuses. Not everything is in your hands but the anticipation and excitement is palpable. There is much time spent in cabin gossip over a cup of coffee speculating over the… Continue Reading
When you take a loan, you take a responsibility to repay it too. And it may happen that you may struggle to repay the loan. The reason for non-repayment could be many, ranging from loss of job and improper financial planning to poor health, disability or even demise of the borrower. In extreme cases, you could end… Continue Reading
There are typically three types of benefits that you get when you transact using a credit card. Upfront discount Cashbacks Reward points & miscellaneous benefits (fuel surcharge waiver, airline miles etc.) The benefits for spending on a credit card might take on many other forms too. However, I believe it will fall into one of… Continue Reading
With the increasing reliance on credit scores during the loan approval process, it is not difficult to understand that it is difficult to get a loan if you have a poor credit score. If the reasons behind the low credit score are genuine but temporary, you can perhaps try explaining the cause to the credit institution… Continue Reading
Editor’s Note: In a recent podcast, CIEL’s Uma Shashikant suggests that ‘Time Value of Money’ is the only concept that average person needs to know in personal finance. Deepesh Raghaw attempts to explain this concept to our readers in this article. What would you prefer? Receive Rs 100 today or receive Rs 100 after 1… Continue Reading
When we talk about borrowing money, the first name that clicks as a lender is a bank or a NBFC. There can be multiple types of loans. You can go for a home loan, personal loan, gold loan, loan against property etc. However, in all these cases, the lender is a bank or a financial institution. If… Continue Reading
In an earlier post, I had discussed how you can take loan against your LIC policy to take care of loan requirement. I had also discussed certain aspects as your loan eligibility and the applicable rate of interest for the loan. You can read the various aspects of loan against LIC policy in this post.… Continue Reading
Your credit score plays an important role in getting your loan/credit card application approved. Not just that, your credit score has also started being a determinant in the interest rate you pay for the loan. Therefore, if you plan to apply for a loan in the near future or foresee the need for a loan in… Continue Reading