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Source: Live Mint Personal loans are helpful for fast money if you need such speed to cover medical costs, house improvement, or that dream vacation. Not every person, however, is qualified to get a personal loan. A number of criteria must be met before the lenders determine if the borrower is credit worthy. Knowing these…
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 A good credit score increases your chances of getting a loan or credit card approved, provided you fulfil the other eligibility criteria. However, the higher the credit score, the higher the negotiating power you have to get better terms from the bank. These include a higher loan amount, a lower interest rate,…
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 It is important for an individual to build and maintain a good credit score. A good credit score helps them get credit cards and loans essential to fulfil important financial goals. However, there are several myths surrounding credit scores. Let us clear some of these myths. Debunking common myths about credit score…
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 HDFC Bank on Thursday raised its marginal cost of lending based rates (MCLR) by 5 basis points across three tenors. These tenures are overnight, one month and 3 years. As per the latest rates which came into force on Nov 7, the MCLR rate for overnight now stands at 9.15 percent, which…
Source: Live Mint The September quarter (Q2FY25) result of PB Fintech Ltd was a mixed bag. Revenue from its core business of online insurance broking through Policybazaar.com grew 41% year-on-year to ₹624 crore. The surge was aided by a 49% rise in insurance premiums collected online. Revenue rose at a slower rate than premium, indicating…
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 SoFi Technologies Inc. shares fell after a profit forecast and third-quarter earnings beat weren’t strong enough to extend a rally that had propelled the shares 40% higher in less than a month. “I think we’re seeing some of that being taken off the table,” Chief Executive Officer Anthony Noto said in an…
