The FinTech Hub
Source: Live Mint Securing a personal loan with a credit score of 510 poses significant difficulties for aspirational borrowers. Generally, a credit score below 600 is considered poor and inadequate. It indicates improper financial planning on the borrowers part and a possible history of defaults or high credit utilisation. Most of the banks and financial…
Source: Live Mint In today’s financial backdrop a solid credit score is important for securing favourable loan terms, credit card approvals along with securing other credit lines such as home loans, education loans etc. That is why aspirational borrowers should focus on aiming to boost their individual creditworthiness swiftly. This can be achieved by implementing…
Source: Live Mint In today’s world, credit reports and credit scores have become synonymous with financial health and stability. These tools, once primarily used by banks and financial institutions to assess a borrower’s creditworthiness, are now influencing far more aspects of a person’s life. From determining eligibility for a loan to impacting job opportunities, insurance…
Source: Live Mint In India’s rapidly evolving financial landscape, clearly understanding what lenders foresee or find out from your credit score is crucial. As a general rule, currently a credit score of 750 or above is considered excellent. Such a high credit score and unblemished repayment history significantly influences loan approvals by making the entire…
Source: Live Mint When a borrower approaches a bank or NBFC for a loan, the bank invariably asks for the credit score. A credit score is a three-digit score given by a credit bureau which indicates a borrower’s creditworthiness i.e., whether the person is likely to repay the loan. This is, apparently, an urban concept…
Source: Live Mint Digital banking services continue to scale up and gain traction in the country. Following the same objectives of growing and scaling up, Federal Bank has streamlined the process of applying for its coveted Visa ‘Imperio’ credit card. This particular credit card caters to the evolving needs and aspirations of tech savvy customers….
Source: Live Mint If you are a credit card user then it is quite usual for you to get tempted to just pay the minimum due instead of the entire bill. Typically, the minimum due is almost 5 percent of the entire bill? For instance if your bill amounts to ₹2 lakh, your minimum due…
Source: Live Mint Personal loans are gaining popularity across India for their easy availability and flexibility. Due to the same many borrowers question and wonder if their spouse’s security or co-signature is necessary for loan approvals. The answer to this question largely depends on several different factors such as, the lender’s policies, the loan applicant’s…
Source: Live Mint As borrowing and lending is becoming digital in India, the borrowers are increasingly careful about their credit scores and the integrity of their credit profiles. Every borrower now clearly understands and recognises the importance of the impact that multiple loan inquiries have. That is why it is always prudent to inculcate responsible…
Source: Live Mint To maintain a credit score higher than 700, so that you become eligible for comfortable terms and conditions on loans and credit cards — it is recommended to take a number of steps. Primarily, one should take all the bills on time. It is even recommended to set an auto pay to…
