The FinTech Hub
Source: Live Mint The Reserve Bank of India (RBI) recently released a set of Frequently Asked Questions (FAQs) regarding a circular on resetting floating interest rates on Equated Monthly Instalment (EMI)-based personal loans. One of the highlights of the circular is that banks must give borrowers the option to switch the interest rate from floating…
Source: Live Mint The financial market has transformed over the years which has revolutionised the entire lending and borrowing process. One of the major innovations which has reshaped the sector are loan aggregators. These platforms connect lenders and borrowers efficiently and transparently, which act as a bridge in meeting challenges such as accessibility, cost-efficiency, and…
Source: Live Mint Personal loans have become quite popular in recent times as they provide instant loan disbursal and help you get financial assistance if you are in an emergency situation. These loans are usually unsecured and do not require collateral. If you are looking to meet your short term financial goals and want to…
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 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 If you are planning to take a personal loan and still not sure about the optimum tenure and the EMI that you should opt for – it is recommended to fiddle with the personal loan EMI calculator. It is an easy-to-use tool which shows the exact amount that you need to shell out every…
Source: Live Mint The reliance of urban poor households on informal credit systems remains a significant challenge in the journey toward financial inclusion. Despite advancements in formal banking services, over 50% of urban poor households in India continue to rely on informal credit sources, contributing to an unorganised lending market estimated at nearly $100 billion….
Source: Live Mint The calendar year 2024 is about to end, and we will soon welcome 2025. It is that time of the year when people make resolutions related to health, career, finance, relationships, etc. You may have also made some or all of these resolutions. In your finance resolutions, you should add a section…
Source: Live Mint Credit score is a three digit score which is given to you by credit bureaus which acts as a reflection of your credit profile and your creditworthiness to your creditors. Multiple loan inquiries to different creditors can negatively affect credit score. As a result, when you need the credit, you may not…
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…
