The FinTech Hub
Source: Live Mint If you want to borrow a loan, the first thing any lender would look for is your credit score. It is an indicator of your creditworthiness and is based on payment history and credit behaviour. The more disciplined you are in your payment history, the higher your credit score. And the less…
Source: Live Mint A credit score of over 800 is widely admired and regarded as excellent in the country. It is often associated with smooth loan approvals and lucrative interest rates. Still, numerous borrowers with stellar credit scores face loan rejections. This leaves them puzzled and frustrated. That is why it is important to understand…
Source: Live Mint As the Indian financial landscape evolves the importance of a healthy credit profile and a high credit score for securing affordable personal loans have never been cleaner. It is crucial to acknowledge the fact that even marginal improvements in your credit score can result in substantial savings on interest payments, thus making…
Source: Live Mint Being in the safe range of credit score (600–700) offers several advantages. Without being excellent, this range is typically believed to be fair. It can unlock myriad financial opportunities which are not available to those with poor scores. Here, we list out the key benefits of having a reasonably good score. Advantages…
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…
Source: Live Mint If you are planning to raise a loan – secured or personal – one of the first things that you must do is to find your credit score. This is a three-digit number that reflects your creditworthiness i.e., your ability to repay a loan that you took. Higher the credit score, better…
Source: Live Mint Having an impressive credit score is vital to be able to raise a loan at a convenient rate of interest. Someone with a high credit score can easily pull off a better deal in terms of low rates of interest and a higher loan amount. On the other hand, someone with a…
Source: Live Mint Aiming for an 800 plus credit score is a good financial goal as it can elevate your profile to the level of ‘extra ordinary’ people. With this score, you can access best interest rates on loans, premium credit card offers, and very convenient terms on loans. Here, we give a snapshot of…
Source: Live Mint In today’s consumer-driven world, buying electronic gadgets and more has become much easier with attractive EMI (Equated Monthly Instalment) options. EMI options have given consumers the flexibility to make high-value purchases without immediate full payment, enabling better financial management. Among the various EMI options available, no-cost EMI stands out as an attractive…
Source: Live Mint Q: What do lenders see when they look at my credit report for sanctioning loans? Lenders check your credit report to assess your creditworthiness. They evaluate the risk associated with lending to you based on the credit score and your borrowing and repayment history. Lenders will look at A) Your credit utilisation,…
