A credit score of 550 is generally considered poor in India. Such a score significantly impacts an individual’s access to credit instruments such as credit cards, personal loans etc. That is why clearly understanding the implications, pros and cons associated with this score and taking proper steps to improve the same are important for an … Read more
Did this ever happen that you bought an expensive product through your SBI Card and want to pay back in small monthly instalments? If that is the case, you can do that on the SBI Card’s website. Here we share a step-by-step guide for the same. Convert large purchases into EMIs I. Choose flexi pay: … 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
The Reserve Bank of India’s (RBI) monetary policy committee cut the repo rate by 25 basis points in February to 6.25 per cent, its first reduction in nearly five years. RBI appears on track for another round of monetary easing in its next policy meeting, scheduled to take place from April 7-9, and may again … Read more
A credit score is nothing but a credit profile of an individual. It is a score card that helps in telling the lender as to how creditworthy, honest and sincere the loan applicant is with regards to repayment of their loans. Not only this, an individual’s clean credit profile, a high credit score also signifies … Read more
Balance transfers together with loan refinancing help people address the challenges associated with debt management. These debt reduction solutions have separate functions for your finances although they fulfil different goals depending on your financial needs. Knowledge about credit points stands essential for making wise financial decisions that respect your monetary targets. What is balance transfer? … Read more
While the Public Provident Fund (PPF) has lost some of its sheen over the years as interest rates have slipped gradually — 7.1% at present — several investors still prefer it given the tax benefits it offers, the safety of government backing and stability as a debt investment. Although the PPF has a 15-year maturity, … Read more
In today’s complex economic atmosphere, the selection of a standard credit card can pose a tough challenge. Two varieties of cards stand out from numerous others; they are co-branded credit cards and regular credit cards. To make educated choices, an individual must now comprehend the advantages and disadvantages associated with each variety. What is a … Read more
Economic success and creation of new jobs alongside innovation and growth stems from micro small and medium-sized enterprises (MSMEs). Securing finance has always proven challenging due to the necessity of collateral. The program creates an opportunity for MSMEs to acquire loans worth up to ₹1 crore without requiring any security pledges. This article details the … Read more