The FinTech Hub
Source: Live Mint Your credit score is a report card of your credit history and creditworthiness. Banks and NBFCs consider 750 and above a good credit score for approving credit card and personal loan applications. However, a good credit score is just one of the factors considered for approving credit applications. Inspite of having a…
Source: Live Mint It is important for an individual to build and maintain a good credit score. A good credit score helps them get credit cards and loans essential to fulfil important financial goals. However, there are several myths surrounding credit scores. Let us clear some of these myths. Debunking common myths about credit score…
Source: Live Mint When you apply for a personal loan, the bank or NBFC considers various factors for loan approval. Some of these include your age, monthly income, credit score, profession, debt-to-income (DTI) ratio, etc. The DTI ratio is an important factor for deciding on loan eligibility, amount, etc. So, what is the DTI ratio,…
Source: Live Mint HDFC Bank on Thursday raised its marginal cost of lending based rates (MCLR) by 5 basis points across three tenors. These tenures are overnight, one month and 3 years. As per the latest rates which came into force on Nov 7, the MCLR rate for overnight now stands at 9.15 percent, which…
Source: Live Mint The September quarter (Q2FY25) result of PB Fintech Ltd was a mixed bag. Revenue from its core business of online insurance broking through Policybazaar.com grew 41% year-on-year to ₹624 crore. The surge was aided by a 49% rise in insurance premiums collected online. Revenue rose at a slower rate than premium, indicating…
Source: Live Mint India’s household savings as a proportion of our GDP is declining. In its latest Financial Stability Report (June 2024), the Reserve Bank of India has also noted that while net financial savings have declined in 2022-23, financial liabilities have gone up thanks to retail loans for consumption and investment. Rise of personal…
Source: Live Mint SoFi Technologies Inc. shares fell after a profit forecast and third-quarter earnings beat weren’t strong enough to extend a rally that had propelled the shares 40% higher in less than a month. “I think we’re seeing some of that being taken off the table,” Chief Executive Officer Anthony Noto said in an…
Source: Live Mint You never know when a financial emergency might arise. Personal loans are one of the most preferred forms of debt during such times due to their versatility and diverse uses. Here are three reasons why you might consider taking a personal loan: Home renovation Building a house is just the beginning; every…
Source: Live Mint A personal loan can be a useful financial tool for various needs, whether you have an upcoming event, want to take a relaxing holiday, or face an emergency requiring quick cash. With a personal loan, you can access funds without needing collateral, and the application process can be completed online in just…
Source: Live Mint In today’s competitive financial landscape, securing a personal loan can be challenging. However, understanding the key factors that lenders consider can enhance your chances of approval. This article outlines effective strategies for improving your personal loan application, leading to a smoother and more successful borrowing experience. Understanding personal loans Personal loans are…
