How to Check if You Have a Fake Loan in Your Name?

Have you been reading reports about fake loans (loans taken using forged documents)? You may ask, how can this happen? An impostor uses your PAN in the application and gets a loan, the loan shows up against your name (and not the actual borrower). Again, such fraudulent intent should have been caught during KYC stage,… Continue Reading

Pros and Cons of an Add-on Credit Card

You own a credit card and use the card judiciously. You are aware of the benefits and flexibility that a credit card offers. You want that your home-maker spouse and your college going kids should also enjoy such flexibility. However, it is not easy to get a credit card unless you are earning. How do… Continue Reading

What to Do if You Have Too Many Credit Cards?

That’s a question many of us grapple with. Do we own too many credit cards? Should we cancel some of the cards? If yes, which cards to cancel? What about the discounts or cashbacks you might miss out on? Or should we just keep the cards even if we don’t use them? What are potential… Continue Reading

CRED Mint: An Investor and a Borrower Perspective

CRED, a fintech player that simplifies credit card bill payments, has launched a product CRED Mint, where CRED members can earn up to 9% per annum. This is how it works. You invest your money in Cred Mint. The product is powered by LiquiLoans, a P2P-NBFC player regulated by the Reserve bank of India. Your… Continue Reading

No Credit History Does Not Mean Good Credit History

“I have never borrowed in my life. Hence, my credit score must be perfect. And the banks would line up to lend to me.” Quite the contrary. Firstly, no borrowing means no credit history. In absence of credit history, the banks will be in dark about your credit behaviour. They may not be comfortable lending… Continue Reading

Credit Resolutions for 2021

It is a new year. And A new year brings new resolutions. Let us look at some of the credit resolutions for 2021 you can consider. # 1 Reduce Debt This applies to those who are currently struggling with credit burden. There are only two ways to reduce credit burden. Reduce the quantum of debt (Possible… Continue Reading

Which Is the Best External Benchmark Loan?

All the banks linked the new retail floating rate loans to an external benchmark from October 1, 2019. In my opinion, that makes the comparison between various home loan products easier. Most of the banks have chosen Repo rate for the external benchmark for home loans. Earlier, benchmark MCLR (Marginal cost of funds-based lending rate)… Continue Reading