Why to take Loans from only Mobile Apps that are RBI registered NBFCs and not any Mobile App on the Playstore
It is important to take loans only from mobile apps that are registered with the Reserve Bank of India (RBI) as Non-Banking Financial Companies (NBFCs) for several reasons: 1. Legal and Regulatory Compliance Only mobile apps that are registered with the RBI as NBFCs are legally compliant and operate within the regulations set by the […]
Why take Loans only from RBI registered NBFCs and Banks
The following are the reasons to take loans only from RBI registered NBFCs and Banks: 1. Regulation and Oversight Loans from RBI registered NBFCs and banks are regulated and overseen by the Reserve Bank of India (RBI). This means that they are subject to strict guidelines and regulations that help protect consumers from predatory lending […]
Why Personal Loans Are Preferred by NBFCs Over Banks
Personal loan (PL) has improved significantly as a result of the NBFC sector’s remarkable growth in India during recent years. The market share of NBFCs in PLs increased from 22.68% in March 2018 to 44.92% in March 2020, according to the credit information bureau. The market share was 42.16% in August 2020. Unsecured loans from […]
Top 5 Bank Festive Offers
1. HDFC Bank Festive Schemes Home, Personal, Auto Loans included The largest private lender in India, HDFC Bank, has introduced a number of festive-themed special programmes, including deals on personal loans, business loans, mortgages, and vehicle loans. According to the bank’s website, the loans for these categories, which are part of the “Festive Treats 4.0” […]
What should you choose for a lender: Housing Finance Companies?
Bank Home Loans with floating rates must now be tied to an external benchmark, such as the repo rate, under Reserve Bank of India (RBI) instructions that took effect in October 2019. Making ensuring that rate-cut advantages were passed through to borrowers was the goal of the new loan system. That is to say, if […]
What should you do if you’ve been a victim of a Bank Fraud?
In India, cybercrime has been on the increase. According to a survey released in April 2021, around 2.7 crore adults in the country were victims of identity theft in the previous year. Because the number of bank frauds is on the rise, you should be extra cautious about your transactions, especially those conducted online. According […]
6 Best Banks for opening Current Account 2022
A current account is mostly used by persons who are in the business world. Many banks provide a variety of current accounts with varying minimum account balances (monthly or quarterly) and deposit limits. By processing huge numbers of receipts and payments, a current account enables you to perform timely commercial operations. I’ve included a list […]
NBFCs Vs. Banks for Business Loans
Recently, NBFCs have taken a lead in providing business loans. Despite economic up-downs, they have remained the preferred choices for retail lending. And still, due to less stringent terms and procedures these non-bank financial institutions continue to hold a major share in business loan financing. NBFCs don’t accept demand deposits but they can simply lend […]