The FinTech Hub
Source: Live Mint A credit score is a three-digit number that reflects your credit worthiness. A good credit score is supposed to be more than 700, and it can help you fetch a loan on convenient terms. On the other hand, when the credit score is lower than 600, it is considered poor and it means…
Source: Live Mint A FICO score is a credit risk measurement tool. It is developed by Fair Isaac Corporation. It is a tool which summarizes an individual’s repayment behavior and it is primarily based on their credit history. It is important to acknowledge that the FICO score is not used extensively in India like the…
Source: Live Mint To maintain optimum financial health and a respectable credit score, it is imperative for you to understand the implications of closing a credit account on the integrity of your current credit score. What is a credit score? Your credit score is a numerical representation of your creditworthiness. It ranges from 300 to…
Source: Live Mint A poor credit score reflects poorly on not only a person’s finances but even his character. Therefore, if you are someone who has a poor credit score you need to clear your name and ensure that you are able to improve your credit profile and make up for the earlier errors. It is…
Source: Live Mint Union Budget 2025: Finance Minister of India Nirmala Sitharaman recently announced Grameen credit score scheme. This is a framework evolved to help Self Help Groups (SHGs) and the citizens in rural India. The primary responsibility of developing this scheme is going to be enshrined in the Indian public sector banking system. The details…
Source: Live Mint Bankruptcy is a consequence of financial distresses like job losses, business losses, loss of wealth. Bankruptcy impacts one’s credit score immensely, generally the credit score also drops by 100-200 points or even more depending on case to case basis. What happens after bankruptcy? The bankruptcy record once it is marked stays on…
Source: Live Mint Debt can be a weight that prevents you from growing financially and creates unnecessary anxiety. Handling money becomes all the more complicated when you juggle several loans or credit card payments. Debt consolidation is one way to simplify your repayment process and perhaps save on costs. Let’s understand the advantages and disadvantages…
Source: Live Mint Loan repayment is the process of paying back borrowed funds with interest over a specific period of time. It is an important component of personal and business finance ranging from small personal loans to bigger mortgages and corporate credit. Properly managing your loan repayments is vital for financial stability and protecting your…
Source: Live Mint Your credit score is an important number that influences every aspect of your life financially. This numerical expression of your credibility impacts your ability to get loans, rent a home, and even set the price of your insurance. A good credit score means more financial alternatives, while a poor one will limit…
Source: Live Mint Personal loan loans are flexible financial options that can be availed in pursuit of different goals of life such as paying an emergency medical bill, funding home improvements or realising that special dream vacation. Before getting into the world of personal loans, however, one needs to get a gist of the basics….
