The FinTech Hub
Source: Live Mint Have you heard anything about FOIR (Fixed obligation to income ratio)? If you haven’t, it is better to understand it as it plays a crucial role in getting your personal loan. Simply put, FOIR is nothing but the debt-to-income ratio of an individual. FOIR is determined by a formula that aggregates the…
Source: Live Mint Have you received an email or message from your bank that you have a pre-approved personal loan offer of a certain amount? Well, this is a standard message which the bank officials or their online tools send to their customers. Most of us must have come across a jaw-dropping message where we…
Source: Live Mint Major requirements in terms of finance will be changed with a high-value personal loan. Personal loans are flexible for all purposes, such as debt consolidation, emergency medical care, home improvement financing, and dream vacation planning. A careful planning and a good financial one is required to be eligible for this kind of…
Source: Live Mint Personal loans are a popular choice for people who are in need of quick cash to cover their expenses for a while. These loans do not require any collateral and offer quick loan disbursement which makes them quite accessible. However, lenders follow a specific eligibility criteria which you are required to meet…
Source: Live Mint A personal loan is the most preferred financing option by many as it does not require any collateral and can be used in multiple ways. However, a personal loan application may get rejected for several reasons. Rejection of a loan application does not mean you will never get a loan in the…
Source: Live Mint A personal loan is the most preferred financing option by many as it does not require any collateral and can be used in multiple ways. However, a personal loan application may get rejected for several reasons. Rejection of a loan application does not mean you will never get a loan in the…
Source: Live Mint Although applying for a personal loan might seem like a pretty big financial decision, having a co-borrower with you could make the process go easier. Let’s see how adding a co-borrower to your application would increase the chances of it getting approved and even possibly make the loan conditions better. Understanding personal…
Source: Live Mint In today’s fast-changing employment market, changing jobs very often opens up interesting new opportunities. However, these career changes might affect your financial plans, especially if you are looking for a personal loan. In most cases, lenders will pay much attention to the employment stability when considering a loan application. Here are some…
Source: Live Mint If you have decided to apply for a personal loan, then your credit score will play an important role in determining your eligibility for the loan as well as the interest rate which you will get. Personal loans generally charge higher interest rates as compared to other loans offered in the market…
Source: Live Mint Before applying for a personal loan with any bank, NBFC, or fintech, make sure you check the eligibility criteria. Without fulfilling the eligibility criteria, your application will be rejected resulting in disappointment. The credit score plays an important role in personal loan approval. The other factors include the individual’s age, income, employment,…
