The FinTech Hub
Source: Live Mint A large number of individuals require car loans when they want to buy vehicles because buying a car means big financial commitments. Your credit score throughout the loan period will lead to preferred loan conditions that will decrease your interest rates while reducing your costs by hundreds of dollars. Steps to improve…
Source: Live Mint A sudden drop in your credit score can be a shock, especially when you do not know why this has occurred. For borrowers in India, a good credit score is the key to taking personal loans and credit cards at the minimum rate of interest possible. That is why knowing about your…
Source: Live Mint If you are looking for a loan in the near future, it is vital to have a strong credit score. Generally, a credit score above the level of 700 is believed to be good, which not only helps you secure a loan but also get it at a lower rate of interest. Therefore, a…
Source: Live Mint Did you apply for a credit card and it was declined because of a poor credit score? Else, you want to apply for a personal loan and realised that your credit score is too poor to make the cut. If that is the case, be aware that you are not alone. There…
Source: Live Mint It could be frustrating to have a low credit score without ever taking a loan, but there are multiple reasons for this to happen, particularly if you are new to credit or have not actively used credit products. Here’s why your score might be low: Reasons for a low credit score without any…
Source: Live Mint In today’s consumer-driven world, buying electronic gadgets and more has become much easier with attractive EMI (Equated Monthly Instalment) options. EMI options have given consumers the flexibility to make high-value purchases without immediate full payment, enabling better financial management. Among the various EMI options available, no-cost EMI stands out as an attractive…
Source: Live Mint Q: What do lenders see when they look at my credit report for sanctioning loans? Lenders check your credit report to assess your creditworthiness. They evaluate the risk associated with lending to you based on the credit score and your borrowing and repayment history. Lenders will look at A) Your credit utilisation,…
Source: Live Mint There are numerous potential reasons why a credit card application can be rejected, and the applicant is left confused. Knowing the reasons in advance can enhance your approval prospects the next time. It can also provide insights into things one should remember while applying for a credit card. Knowing these, you can…
Source: Live Mint Your credit score plays an important role in determining your eligibility for loans as well as credit cards. A healthy credit score helps you attract low interest rates on your loan applications. However, if you currently have a low credit score, you can take mindful steps to improve it significantly. Credit scores…
Source: Live Mint Whenever an individual applies for a credit product like a loan or a credit card, the bank evaluates whether they can approve or reject the application. Among the various eligibility criteria, an important one is to assess whether the individual will repay the credit extended. It is done by evaluating the individual’s…
