The FinTech Hub
Source: Live Mint An individual has to fulfil the various eligibility criteria of the bank to get a personal loan. These include a good credit score, a steady career, a stable income source, a lower debt-to-income (DTI) ratio, etc. If the borrower doesn’t fulfil any of the eligibility criteria, the bank may ask the borrower…
Source: Live Mint Credit inquiries are important to help you maintain your credit score to as high a number as possible. In India, there exist two distinct kinds of credit inquiries: Hard inquiries and Soft inquiries. Both are for different purposes and have varying implications on your credit score, personal loans interest rates and associated…
Source: Live Mint In today’s technology driven rapidly evolving times, an integral part of handling your money is knowing how your personal loan application is coming along. HDFC Bank being a leading Indian financial institution, helps in facilitating the same in seamless fashion. There are simple means of seeing the status of your personal loan…
Source: Live Mint Efficient money management necessitates making correct loan selections. EMIs available through credit cards and personal loans allow users to pay over time conditions for urgent or intentional financial requirements. Long-term economic efficiency questions which payment option would be best in the end. The following analysis identifies whether personal loans and credit card…
Source: Live Mint Personal loans are now looked upon as a simple and easy way of receiving money by aspirational borrowers. These instruments help in meeting all kinds of requirements such as: medical expenses, home building and construction, higher education etc. On similar lines, ICICI Bank, one of India’s leading private sector banks, has a…
Source: Live Mint Fintech firms have in recent years transformed lending in India with fast, convenient, and largely unsecured loans to crores of borrowers. Leading fintech companies such as Paytm, Cred, MoneyTap among others charge different interest rates depending on the profile, credit score, history of repayment etc., of borrowers. The below table gives a…
Source: Live Mint Medical emergencies beyond expectation often make patients unable to cover their high treatment costs. A medical loan stands as a crucial instrument to help people in such situations. This article explains medical loans including their operational mechanism and benefits and necessary considerations before applications and step-by-step application steps. Understanding medical loans One…
Source: Live Mint EMI-free loans seem unrealistically appealing because businesses widely advertise easy financing and hassle-free loan opportunities in today’s market. Everyone would choose to borrow money under these circumstances since there are no monthly payment obligations. The appeal of this offering seems perfect but reality shows something else. The primary purpose of presenting free…
Source: Live Mint Personal loans: If you are looking to raise a loan – the first logical thing for you to do is to choose the right financial institution. Those who are not aware there are different categories of institutions such as banks, NBFCs (non banking financial institutions), and fintech platforms. What kind of deal you manage…
Source: Live Mint If you are a personal loan applicant, you are supposed to be aware of the latest guidelines which are in force. Early this year, Reserve Bank of India (RBI) released a circular with regards to equated periodic instalment based personal loans. RBI’s guidelines on ‘reset of floating interest rate on EMI based personal…
