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The number of non-performing assets in private sector banks’ portfolios of unsecured loans, which comprise personal loans and credit cards, has increased recently. In this blog-post, we will discuss some tips for those who are approaching default or are afraid that their credit score may drop as a result of missing loan payments. Avoid over-leverage: Over-leverage …
This is one of my favourite write-ups on personal finance and my increases my curiosity to understand the current generation’s thoughts on costly leveraged purchases (sometimes myself as well!). First of all, let us try to understand what is a ‘Leveraged spending’. For retail consumers such as ourselves, ‘leveraged spending’ means using debt or borrowed …
When closing an FD for a sudden need or for any short-term requirements, there are a few economically viable solutions to consider. The alternatives should be designed to reduce borrowing costs and maximize the use of the FD, allowing you to obtain the lowest loan option if an emergency demands a short-term monetary commitment. In both …
A solid credit score is an important aspect of one’s credit history. A credit score is a figure that falls between 300 and 900. The score is better when it is closer to the upper end of this range. Credit score takes tremendous importance as it is one of the primary elements utilized by a …
Understanding the various fees associated with a home loan application is crucial for a comprehensive view of the overall cost. Here are the key components: Processing fees – This is a one-time, non-refundable charge payable at the time of loan application processing typically ranging from 0.5% to 1% of the loan amount. Legal charges and …