The FinTech Hub
Source: Live Mint Your creditworthiness is depicted by your CIBIL score, which is a three-digit figure normally ranging from 300 to 900. It is one of the prime factors which lenders consider when deciding to accept your application for a credit card or loan. Knowing the guidelines and factors that govern your CIBIL score is…
Source: Live Mint A credit score of 750 or higher is usually considered good for approving loan applications, provided the other eligibility criteria are fulfilled. However, some people who have never availed of a loan or are new to credit will see that their credit score is negative or zero. You need not be alarmed…
Source: Live Mint Have you heard anything about FOIR (Fixed obligation to income ratio)? If you haven’t, it is better to understand it as it plays a crucial role in getting your personal loan. Simply put, FOIR is nothing but the debt-to-income ratio of an individual. FOIR is determined by a formula that aggregates the…
Source: Live Mint A credit card is a financial tool accessible to many, unlike the common belief that it can only be availed by people with good credit history. You may often wonder if there are many conditions to getting a credit card. However, some credit cards do not require such conditions. Secured credit card…
Source: Live Mint While applying for a personal loan, an individual has to fulfil various eligibility criteria. Some of these include age, income, credit score, debt-to-income (DTI) ratio, profession, work experience, etc. What if the loan applicant’s income is lower or credit score is lower than the bank’s personal loan eligibility requirements? In such cases,…
Source: Live Mint When you apply for a loan or a credit card, banks check several factors to approve your request. One such factor is the CIBIL score. It is one of the key parameters to determine your eligibility for a loan or a credit card. This three-digit number reflects your creditworthiness. Banks check CIBIL…
Source: Live Mint Financial freedom is extremely important in every individual’s life. Loans and credit cards are some of the popular options for people who are in need of quick cash to cover their finances for a while. However, both of these credit options have a mandatory application process which is first assessed by lenders…
Source: Live Mint In today’s fast-changing employment market, changing jobs very often opens up interesting new opportunities. However, these career changes might affect your financial plans, especially if you are looking for a personal loan. In most cases, lenders will pay much attention to the employment stability when considering a loan application. Here are some…
Source: Live Mint Credit cards are a great way to save smartly on your transactions and earn exclusive rewards and discounts on your favourite brands. Credit cards may affect your credit history and also impact your credit score as well as your future loans. If you utilise your credit card appropriately, it can help you…
Source: Live Mint As a student, managing finances can become tough sometimes. Building a credit score can help you get lowest interest rates while applying for loans. A healthy credit score also helps you get your desired credit cards with a high spending limit and exclusive deals. As a student, credit building could look like…
