You can pay the personal loan in equated monthly installments (EMIs) for a maximum of 5 years. But if you want to close your loan fast, you can take the route of either prepayment or part payment. The prepayment means the payment of the entire loan...
Read MoreHow to get the cheapest home loan interest rates in India?
A lesser rate of interest on a home loan is possible on meeting the following conditions. Women Applicants: Several banks and housing finance companies provide a cheaper rate of interest to the women borrower. If the applicant is female then...
Read MoreHow to calculate EMI on home loan?
You can compute your home loan EMI using the EMI calculator online. It is an online device that estimates one’s loan installments using a mathematical formula. The loan calculator device calculates your home loan EMI using the formula /. You just...
Read MoreImportance of Credit Reports for Companies & Businesses
Credit reports are as important to companies and businesses as individual borrowers. The company’s balance sheet and overall performance are assessed by the agencies before assigning them a credit rating that can be seen in the report. The report...
Read MoreChange in Credit Score – How Often Does it Happen?
The change in the credit score depends on your credit-related activities. If you are applying for loans and credit cards frequently, the lenders would keep doing a hard credit enquiry. This would bring a change in the score in proportion to the...
Read MoreDifference Between Credit Score, Credit Report & Credit Rating
The credit score is a numeric representation of an individual’s creditworthiness. It indicates lenders about your repayment capability with respect to the credits you apply for. The timely repayment track boosts your credit score and helps...
Read MoreWhy GST on Personal Loan
If we talk about GST, this in-direct tax has been levied by the Government on various Goods and Services. And, under the banking sector, a personal loan is one such product on which GST is applicable. The government collects the tax from various...
Read MoreCan home loan be insured?
Yes, you can insure your home loan. Almost all the banks and NBFCs give home loan insurance along with the loan. Some make it mandatory to get a home loan insurance from them but you can check if the lender is giving you the option to get it from...
Read MoreHow Personal Loan Balance Transfer Works?
When it comes to a personal loan balance transfer, it is a process of transferring your existing outstanding personal loan balance from one loan provider to another, offering a lower interest rate. In simple words, now you just have to pay your EMIs...
Read MoreHow Credit Card Industry Works?
The credit card industry basically involves four participants - banks, merchant establishments (online and offline stores), payment processing networks such as VISA, Mastercard, and customers. The process starts with the customer making a purchase,...
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