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Source: Live Mint Financial hardships resulting from certain circumstances can put an individual in a spot of bother. It can result from job loss, accident, hospitalisation, financial mismanagement, etc. It can lead to the individual defaulting on their debt obligations. A default can ruin the individual’s credit report and stay there for a long time….
Source: Live Mint DCB Bank continues to provide customised personal loan solutions to help both salaried and self employed borrowers, meet their financial needs. Whether it is for medical expenses, home renovation, travel or other day to day expenses. To meet the same expectations, a ₹2.5 lakh personal loan from DCB Bank can be availed…
Source: Live Mint In India, there is a strong belief that avoiding debt is the best way to stand out and stay away from financial problems. Such a practice also keeps an individual financially healthy. Given this can work for personal budget planning, still it can backfire when it comes to your credit score and…
Source: Live Mint You need to have a strong credit profile and a high credit score to qualify for a home loan of ₹1 crore. Financial institutions heavily rely on credit scores to understand and assess an applicant’s repayment potential, creditworthiness and financial capacity. These factors cumulatively influence loan approval, interest rates and associated terms…
Source: Live Mint Personal loans: If you are planning to raise a personal loan, one of the first things you are supposed to do is to compute your monthly instalment, or equated monthly instalment (EMI). This can be done seamlessly by using a personal loan EMI calculator which is provided by most banks for free….
Source: Live Mint If you have started using a credit card or took a personal loan recently, it is recommended to first check the credit score. For the unversed, a credit score is a three digit number between 300 to 900 which indicates creditworthiness of the customer. Higher the score, more credible the customer is…
Source: Live Mint A credit report is a comprehensive record of your credit-related activities compiled by credit bureaus. It includes detailed information about your existing and past loans, credit card usage, repayment behavior, outstanding balances, defaults (if any), and even the number of times lenders have inquired about your loan application. This document serves as…
Source: Live Mint In a rapidly developing country like India, a credit score of above 770 is considered as an excellent score. Any score in this range enhances and boosts your eligibility for loans and credit cards on favourable terms. Sustaining such a high score requires consistent financial composure, discipline and awareness. The focus of…
Source: Live Mint Banks have various eligibility criteria for loans. If a loan applicant doesn’t meet one of the eligibility criteria, the bank may ask the applicant to get a co-applicant instead of rejecting the loan application. In this article, we will understand why a borrower may get a co-applicant and the impact of a…
Source: Live Mint In India a credible and strong credit score is crucial for securing personal loans, credit cards, favourable interest rates etc. Given a score of 480 is considered poor, still achieving a score of 750 or higher is still attainable with disciplined and calm financial habits. According to Bhargav Errangi, Founder, POP, “Improving…
