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
A few days ago, I watched an interesting TV commercial for a personal loan product from Bajaj Finserv. The product is Bajaj Finserv Flexi Loan. Let’s find out more about the product. How Does the Bajaj Finserv Flexi Loan Work? Think of it as a credit line. You can withdraw/borrow or repay as many times as… 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
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
Many of us purchase car on loans. Wouldn’t it help if you were to pay lower EMIs every month? Here are a few tips to reduce your car loan EMI burden. 1. Negotiate on the Price First, Then on the Loan Terms You need to negotiate on the price of the car first. Loan interest… Continue Reading
You do not like taking credit and avoided any loans and credit cards thus far. You would pay cash or use your debit card/net banking to make payments rather than using a credit card. Its a matter of choice. And a prudent financial habit too. Non-usage of credit cards takes away the possibility of overspending… Continue Reading
When you walk into a shopping mall, you will be flooded with credit card sales people offering co-branded cards with your favorite store. A co-branded card offers you special deals in the store. One bank offers a co-branded card in a tie-up with Big Bazaar while another offers in Lifestyle stores. And it does not end… Continue Reading
Your close friend has been planning to buy a house for a long time. However, when he approached the bank to apply for a home loan, bank insisted to getting someone to sign as a guarantor for the loan. Lenders can ask for a financial guarantor if the credit history is weak or repayment ability of… Continue Reading
Whenever I write about credit cards, I focus mostly on things that can go wrong when you use credit cards indiscriminately. You may end up spending more than you can afford to. The debt can suddenly pile up if you don’t pay bills on time as the interest rate charged is exorbitant. In this post,… Continue Reading
If you are planning to apply for a home, car or personal loan, you must be aware that your credit score plays an important role during your loan sanction process. Hence, it is advised that you check your credit score before applying for loan and rectify any errors in the report through dispute resolution process.… Continue Reading