Credit score plays an important role in securing a credit card or raising a personal loan on convenient terms. And when someone’s credit score is absymally low i.e., below 600, s/he finds it hard to get a loan at a low rate of interest. What will you do when your credit score is lower than … Read more
Credit card usage has undoubtedly risen considerably in the past few years, primarily steered by increased consumer spending and the growing popularity of digital payments. However, non-performing assets (NPAs) in the credit card segment also spiked by 28.42 per cent to ₹6,742 crore during the 12-month period ended December 2024, the latest Reserve Bank of … Read more
If you have recently started using a credit card, you must be aware that it has a fixed credit limit and you are not supposed to spend beyond this. Although the limit is typically generous, it is recommended not to exhaust all of it for the sake of a healthy credit score. Those users who … Read more
With its dynamic nature and boundless potential, the travel industry is one that provides businesses the ability to thrive. Continuing with the process of taking a business loan for use by travel organisations will give you the money you will need in order to thrive in a competitive market. Understanding business loan for travel agency … Read more
Paying the full outstanding balance of a personal loan before the original loan time period is known as pre-closure. Those looking to improve their financial position and manage their personal loans more effectively will want to know the details surrounding pre-closure of a personal loan which is covered here. Understanding personal loan pre-closure Personal loans … Read more
Borrowers typically have to make a choice between traditional banks and NBFCs when considering a personal loan. Each is different in the advantages and disadvantages, and this article discusses the pros and cons of availing a personal loan from NBFCs compared to banks. Understanding banks and NBFCs Banks are regulated financial institutions which are allowed … Read more
Remember, not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. According to chartered accountant Vijaykumar Puri, partner at VPRP & Co. Llp, the first critical step is understanding your salary structure. “The key is ensuring all allowances are properly structured … Read more
As the Reserve Bank of India (RBI) on Wednesday cut the repo rate again by 25 basis points, home loan EMIs are expected to fall. In the past two months, RBI has cut the repo by a total of 50 basis points. In February, RBI cut the benchmark rate from 6.5 per cent to 6.25 … Read more
Personal loans are a widely used financial tool in India, offering quick access to funds for a range of purposes—be it education, healthcare, home construction, or even to repay other outstanding loans. However, how these funds are treated under the Income Tax Act has always raised questions among borrowers. Many wonder whether personal loans are … Read more
Credit cards are financial instruments that offer flexibility, convenience and seamless digital payments. However, relying too heavily on paying only the minimum amount due can lead to a dangerous cycle of debt. While making only the minimum payment might seem like a short-term solution to avoid late payment penalties, it carries serious risks for credit … Read more