Permanent Account Number, or PAN, is an identification number that provides lenders with a complete image of the credit pattern. It helps monitor the monetary transactions of citizens and curbs all those transactions that happen outside of the legal framework. It is vital to link the PAN card number with all the bank accounts, which … Read more
Securing a ₹1 lakh personal loan in India hinges immensely on the strength of your credit profile and your present credit score. These are key indicators of your creditworthiness. Financial institutions and lending banks check this score to determine the risk associated with lending you credit. According to Mr Rohith Reji, Co-founder, Neokred, “Lenders typically … Read more
In India a credible and strong credit score is crucial for securing personal loans, credit cards, favourable interest rates etc. Given a score of 480 is considered poor, still achieving a score of 750 or higher is still attainable with disciplined and calm financial habits. According to Bhargav Errangi, Founder, POP, “Improving a credit score … Read more
For numerous Indian students, securing an educational loan is a critical step towards accomplishing academic success. Still, lacking a proper credit score and a clean credit history can pose significant challenges in securing education loans on easier terms. Even in such circumstances, it is important to acknowledge the fact that there are still several avenues … Read more
In a credit card monthly statement, you will see two amounts due. One is the minimum amount due (MAD), and the second is the total amount due (TAD). While making the monthly bill payment, the bank usually gives you three payment options: MAD, TAD, and any other amount. Which out of these three should you … Read more
If you are planning to raise a personal loan, one of the important decisions that you need to make is to decide about the quantum of monthly instalment which is also known as an EMI or equated monthly instalment. Higher the loan EMI, shorter the loan tenure. Conversely, smaller the EMI, longer the loan tenure. … Read more
If you face an urgent need of a large sum – say up to ₹55 lakh – for such needs as wedding, education, medical emergency, or home renovation, you can explore the idea of raising a personal loan. Whether it is for a dream wedding, higher education, medical emergency, or a long-awaited home renovation, individuals … Read more
Personal loans help borrowers meet day-to-day needs and aspirations such as medical expenses, education costs, home reconstruction and other similar family or lifestyle-related requirements. Let us discuss five widely prevalent myths you should stop believing to make the most of your personal loan. Understanding these myths will boost your confidence and help you manage your … Read more
ICICI Bank offers a seamless process for securing personal loans to meet diverse financial needs, such as education, surgeries, weddings, medical emergencies or home reconstruction. The bank provides loans of up to ₹50 lakh or more, with repayment tenures ranging from 12 to 72 months. The loan terms depend on several factors, including the applicant’s … Read more
A credit score of 670 is not considered a healthy credit score in India. Such a score can pose serious challenges when the borrower applies for a new credit card or a personal loan. Still, there are strategies that can boost and enhance the chances of approval, even with a low credit score. According to … Read more