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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 When you apply for a personal loan, one of the key decisions that you must take is to ascertain the loan instalment. Typically, loan EMI is a function of multiple factors which include the loan tenure and rate of interest. As a new borrower, if you are still busy shopping for the…
Source: Live Mint While taking a personal loan, it is important to choose the optimum tenure. If the tenure chosen is longer than required, the borrower will end up paying more interest. If the tenure chosen is shorter than required, the higher EMI can put pressure on the borrower’s cash flows and disturb the monthly…
Source: Live Mint Personal loans: When you apply for a personal loan, it is vital to be aware of all the key documents that you need to submit. Without submitting the necessary documents, an applicant can not avail the loan. The choice of documents may vary from bank to bank – however, the common documents…
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 Consumers have started their credit journeys at a significantly younger age with each passing generation, revealed an internal analysis by Paisabazaar. This analysis was based on the data of consumers who have checked their credit score from Paisabazaar over the years, along with a consumer survey. While consumers born in the 1970s…
Source: Live Mint The State Bank of India (SBI) continues to be a preferred option for individual borrowers seeking personal loans. The bank offers amounts of up to ₹35 lakhs with easy and flexible repayment options. There are also special options available for personal loans above ₹35 lakhs to make borrowing a seamless experience. Now…
Source: Live Mint In the face of ever escalating household debt and economic challenges, families in India are re-analysing their financial goals and objectives. The focus has now shifted on building robust emergency funds with a renewed emphasis on planning things efficiently. Recent data underlines the significance of this financial preparedness. According to a recent…
Source: Live Mint Credit products like loans and credit cards can play an important role in achieving various life goals and improving the quality of life. However, a good credit score is one of the important criteria for banks to approve any loan or a credit card. In this article, we will understand what kind…
