What is a prepayment penalty on a personal loan and how does it affect you? | Mint

Personal loans are becoming increasingly popular in India as they are easily available and convenient. Prominent lending institutions such as: HDFC Bank, ICICI Bank, Kotak Bank, Bajaj Finance, CreditAccess Grameen among others are rapidly scaling up loan distribution services. Also Read | 10-minute personal loans: Fast money or a fast track to debt? Due to … Read more

How to withdraw VPF for home purchase, loan repayment

He was told he could withdraw the VPF anytime after a five-year lock-in period. Fast-forward to 2025, and he needed to withdraw funds to purchase a flat. To his surprise, there was no separate VPF accounting in his account. He could only see his EPF balance, and withdrawals, too, had limitations. “It is a misconception … Read more

Can’t pay your utility bill on time? Here’s how it might damage your credit scor | Mint

In India, having a good credit score while borrowing loans and credit cards at reasonable interest rates is essential. That is why it is important to maintain a clean repayment history. That is why many also raise this question: Do credit scores get impacted because of delayed utility payments? This write-up is dedicated to answer … Read more

Will ₹6 crore be enough for retirement? How to plan for a secure future | Mint

I am 38 years old, earning ₹1.80 lakh per month, with monthly expenses of ₹1 lakh. My current investments include ₹8,000 in NPS, ₹6,000 in VPF, ₹18,000 in EPF, and ₹50,000 per month in equity mutual funds. My accumulated savings stand at ₹7 lakh in NPS Tier 1, ₹15 lakh in PPF, ₹14 lakh in … Read more

Credit score boost: 7 simple ways to improve your score slowly and steadily | Mint

A good credit score is indispensable to raisepersonal loans and credit cards. However, building a solid credit history doesn’t happen in a short time. It needs consistency and responsible financial habits. Here, we explain how one can build and improvecredit score over a period of time. Building credit history: Steps to take 1.Use credit cards … Read more

HSBC Bank launches TravelOne Credit Card: Should travel geeks consider it? | Mint

As the travel segment grows, the competition in the travel credit card category is picking up. Some banks have rolled out travel-centric credit cards. Earlier, we had the American Express Platinum Travel Credit Card and the Axis Bank Atlas Credit Card in the travel category. Now, HSBC Bank has also joined with the TravelOne Credit … Read more

Your Questions Answered: What is the difference between Nifty 100 index and Nifty 100 quality 30 index? | Mint

Q. Me and my wife have been investing in Nifty 50 tracking mutual funds for the past 8 years. We now intend to diversify by investing in Nifty100 Quality 30 index-tracking mutual funds. Can you tell us the pros and cons of investing in index mutual funds tracking the Nifty100 Quality 30 index? Additionally, please … Read more

Federal student loan site down Wednesday, a day after layoffs gutted Education Department

WASHINGTON (AP) — An hours-long outage Wednesday on StudentAid.gov, the federal website for student loans and financial aid, underscored the risks in rapidly gutting the Department of Educationas President Donald Trump aims to dismantle the agency. Starting midday Wednesday, dozens of visitors to StudentAid.gov reported outages to Downdetector. The National Association of Student Financial Aid … Read more

What is a mortgage loan and how does it work? Your complete guide | Mint

The acquisition of ownership through home purchase stands as a fundamental life achievement for most people although it generally requires substantial monetary investment. Mortgage loans provide necessary funds that enable people to achieve their homeownership aspirations through extended repayment plans. Understanding mortgage loan Mortgage loans function as secured loans that require you to deposit real … Read more

Personal loan hacks: How to slash your interest rate after you’ve borrowed—Key ways explained | Mint

Personal loans are generally taken in India for satisfying one’s current financial needs, but do remember a higher rate of interest can increase repayment difficulties. Now, it is interesting to note that, even when you’ve taken a loan, there are certain methods which you can adopt so as to lower your personal loan rate of … Read more