The FinTech Hub
Source: Live Mint A credit score of 800 or higher opens up options that go far beyond getting credit cards or loans, making it more than just a sign of sound financial management. While it is true that a high credit score certainly makes it possible to acquire advantageous lending conditions and reduced interest rates,…
Source: Live Mint If you are planning to raise a personal loan, you may use a personal loan EMI calculator to ascertain the exact EMI you stand to pay across different interest rates. If you are short on money and do not have many options, it is advisable to check your personal loan eligibility. Typically,…
Source: Live Mint Personal loans are one of the most popular forms of credit which are opted by people if they are in need of quick cash and want to cover their financial needs temporarily. Personal loans offer instant loan disbursement and flexible repayment period which becomes a great choice if you are in an…
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 Personal loans can be a panacea for a number of financial crises. Whether it is an emergency or a wedding, be it a renovation at home or the urgency to buy a luxury item for your loved one – one can raise a personal loan from a bank or a financial institution to…
Source: Live Mint Borrowers who find it difficult to repay personal loans can explore the prospect of a moratorium, a temporary period during which they are not supposed to make any payment. It is noteworthy that the moratorium affects loan repayment since interest keeps accruing, following which one has to pay the combined interest, thus…
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 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 raise a personal loan in the near future, it is important to carry out an exhaustive background search. Among several things, it is vital to scout for the lowest possible rate so that you can raise the loan at an affordable interest rate. There are times when…
