The FinTech Hub
Source: Live Mint A personal loan is an option you can consider if you want quick funds without guaranteeing a collateral. Personal loans offer you minimum documentation and an easy application process so that you can immediately access funds when you need them. However, you must be aware of the fact that personal loans attract…
Source: Live Mint With the advent of digitisation, getting a personal loan is at your fingertips. Many banks, NBFCs, and fintechs have made the personal loan process from application to disbursement completely online. The pre-approved offers have further simplified getting a personal loan in less time. However, before availing that pre-approved personal loan offer or…
Source: Live Mint If you are falling short of money while you buy an important item for yourself or someone else, then you don’t need to fret. You can approach a bank to borrow money for a slew of purposes which are personal in nature. Whether you want to spend money on a wedding, or…
Source: Live Mint Your credit score is a report card of your credit history and creditworthiness. Banks and NBFCs consider 750 and above a good credit score for approving credit card and personal loan applications. However, a good credit score is just one of the factors considered for approving credit applications. Inspite of having a…
Source: Live Mint When you apply for a personal loan, the bank or NBFC considers various factors for loan approval. Some of these include your age, monthly income, credit score, profession, debt-to-income (DTI) ratio, etc. The DTI ratio is an important factor for deciding on loan eligibility, amount, etc. So, what is the DTI ratio,…
Source: Live Mint India’s household savings as a proportion of our GDP is declining. In its latest Financial Stability Report (June 2024), the Reserve Bank of India has also noted that while net financial savings have declined in 2022-23, financial liabilities have gone up thanks to retail loans for consumption and investment. Rise of personal…
Source: Live Mint You never know when a financial emergency might arise. Personal loans are one of the most preferred forms of debt during such times due to their versatility and diverse uses. Here are three reasons why you might consider taking a personal loan: Home renovation Building a house is just the beginning; every…
Source: Live Mint NEW DELHI : The festive season brings joy and an inclination to start new things. People love to make new purchases or start fresh investments around Diwali. Companies understand this well and offer plentiful discounts. Banks, too, are not far behind. They come out with festive offers on loans and fixed deposits…
Source: Live Mint A personal loan can be a useful financial tool for various needs, whether you have an upcoming event, want to take a relaxing holiday, or face an emergency requiring quick cash. With a personal loan, you can access funds without needing collateral, and the application process can be completed online in just…
Source: Live Mint In today’s competitive financial landscape, securing a personal loan can be challenging. However, understanding the key factors that lenders consider can enhance your chances of approval. This article outlines effective strategies for improving your personal loan application, leading to a smoother and more successful borrowing experience. Understanding personal loans Personal loans are…
