Top 10 Instant loan apps for Low Credit Score
A personal loan is a boon for borrowers as people can use it in an emergency or when they have a shortage of funds. Borrowing money is no longer frowned upon. Young Indians have taken out loans for a variety of purposes, including studying abroad, financing a trip, upgrading their house, buying a car, and […]
Flat Interest Rate vs. Reducing Balance Rate
We’re discussing how banks and other financial organisations compute a loan’s interest rate. In a murky scenario like this, when no bank person would give you the exact interest rates and other details, it’s even more critical to know how to calculate this in advance. In basic terms, when you take out a loan for […]
Credit Builder Loan India
A credit builder loan is a specialized loan that is designed to cater to the need of anyone who is looking at improving their low credit score or build up a credit profile. A credit-builder loan is designed to help people who have little or no credit history build credit. A good score makes approval […]
Will Defaulting Education Loan Affect Credit Score?
Non-repayment of education loan can now affect one’s credit score, a top official of Credit Information Bureau (India) Ltd (CIBIL) has said. The data released by CIBIL throws significant light on education loan trends in the country. While the demand for educational loan is need based, the number of new loan accounts opened in calendar […]
Loan rejected due to bad CIBIL Score
What creates a good CIBIL Score? CIBIL, which is the most common credit bureau, puts anyone with little credit history and people with a very high risk of default in the range of 300 credit score. However, there are chances your score may be less than 300 when you have no credit history. In this […]
What creates a good CIBIL Score?
The credit score is a three-digit numeric summary of your credit history, which is compiled from various financial institutions, lenders, and banks. The value ranges from 300-900, where 300 is the lowest score and 900 is the best score. CIBIL, which is the most common credit bureau, puts anyone with little credit history and people […]
Myths about Credit / CIBIL Score
CIBIL aims to bring in more transparency to the loan approval process in the country, in that customer now have an understanding of the seminal factors which lenders analyse to gauge creditworthiness. CIBIL reports, generated on a monthly basis (as mandated by the RBI), help lenders evaluate and approve or reject loan applications, as the […]
Top 10 FAQs about Credit Score
1. How can I improve my CIBIL Score? You can improve your CIBIL Score by maintaining a good credit history, which is essential for loan approvals by lenders. Follow these 4 steps which will help you better your score: The following factors are to be considered in case to improve your Credit Score:- 1. Make […]
Is Your CIBIL Score Getting You Down
One of the most important markers of your financial wellness is your credit score. Unfortunately, in India, there is a lack of understanding about credit scores and their relevance in one’s life. You may improve your credit score by following some fundamental rules. However, even if you were doing something you felt was beneficial, the […]
Business Loan with low CIBIL Score or Bad Credit
The Indian economy is constantly growing with small businesses. Business loan seems like a dream come true. Sometimes, to avail a business loan in India, several challenges arise. 1. Secured Business loans Secured loans are where the person/s when starting a new business can pledge any asset like gold or property that they have as […]