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Source: Live Mint When the nation is becoming Atmanirbhar, why should we individuals lag behind? Let us discuss how one can Atmanirbhar and remain Atmanirbhar during all the phases of life. Also Read | Gold price today in your city: Check Mumbai, Bengaluru, Chennai, Delhi on May 18 Early days in life Gaining basic knowledge…
Source: Live Mint Credit Score: Whether you are applying for a car loan, home loan, personal loan, or even a credit card, commercial banks tend to check your creditworthiness. This is measured by a three-digit number between 300 and 900, known as a credit score. Numerous factors influence your credit score, including your payment history,…
Source: Live Mint Have you heard of the phenomenon of clearing off a personal loan by raising a fresh one? Or did you ever think of someone contemplating raising a new loan to clear off his myriad old debts? This is neither unusual not irrational. Let us explain why. Suppose Mr Z has five different…
Source: Live Mint A personal loan can be a panacea for a number of needs which include construction of a house, wedding at home, during an emergency, for an urgent trip, or even for higher education. However, when you take out a loan from a bank, it may impose a ‘cost’ which you were not…
Source: Live Mint Loan repayment is one of the many aspects affected by inflation. It affects purchasing power of money, interest rates and overall cost of borrowing. For borrowers, inflation can have both positive and negative consequences, depending on factors such as the type of loan, interest rate structure, and economic conditions. Understanding inflation and…
Source: Live Mint We are going to sell a house in my wife’s name. My wife and I had a joint home loan on the house which I paid fully. I did not claim any tax deduction on the home loan interest. At the time of sale, can my wife add the unclaimed interest to…
Source: Live Mint The need for money may arise anytime, forcing individuals to borrow from financial institutions in the form of loans. Every loan has to be repaid in the future, and interest rates are charged as well. In order to deal with multiple financial requirements, borrowers may seek multiple loans with overlapping tenure. However,…
Source: Live Mint History holds significance as it helps understand past events, which aids in making sense of the present, and taking informed decisions for the future. For financial institutions (FIs), such as banks and non-banking financial companies (NBFCs), understanding the history of a customer in terms of how he/she has managed credit in the…
Source: Live Mint Maintaining a credit score above 700 (measured by CRIF High Mark, Experian or Equifax) calls for credit discipline. This means one should clear one’s credit card bills and loan repayments on time. Additionally, one should keep the credit utilisation ratio (CUR) under the optimum level of 30 percent. Aside from this, one…
Source: Live Mint If you aspire to invest in India you have many different investment options. Fixed deposits, equities, mutual funds, gold, other commodities etc. These are all different kinds of asset classes. Now fixed deposits which are a unique investment asset class is a favored investment choice due to their stability and predictable returns….
