HDFC Bank Digital Loans Against Mutual Funds

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

What to Do If Interest Rates Continue to Rise?

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

How Much Loan Can I Get?

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

Why Credit Utilization Ratio Affects Your Credit Score?

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

Should You Go for Pre-Approved Home Loans?

You just booked an under-construction property. You spent months finalizing the right property for you. You paid the booking amount from your own pocket. For the remaining purchase amount and construction linked instalments, you are banking on a home loan. Unfortunately, your loan application gets rejected or the bank is not willing to sanction the requested… Continue Reading

Stand Up India Loan for SC/ST or Women Entrepreneurs

The Stand Up India scheme is aimed at promoting entrepreneurship at the grassroots sections of the society. The scheme was launched in 2015 to promote funding for green-field projects promoted by SC/ST/Women entrepreneurs. The scheme facilitates bank loans between Rs 10 lakhs and Rs 1 crore. Let’s find out more about the loan scheme. Stand up… Continue Reading

SBI Pension Loan: Loan for Pensioners

Anyone can face a financial emergency or may need funds to tide over a crisis. There are many ways to arrange funds. You can seek short term assistance from a friend or family. There is an option of gold loan or a property loan. If you are young, you can apply for a personal loan. However,… Continue Reading

Time Value of Money — For Kids

When I was kid, a friend made me a hypothetical proposition. He told me he would give me a Maruti 800 car every day (guess that was the fanciest car both of us were aware of at that age and time). In return, I would have to give Re 1 on the first day, Rs 2… Continue Reading