Recently I received a query from one of the readers of my blog Mr. A regarding personal loan eligibility. He asked me that he is in an urgent need of money but the bank is not willing to lend the desired amount. As I shared in my other posts related to a loan that loan eligibility depends on multiple factors. There are 2 types of factors i.e. direct factors and indirect factors. Let's accept the fact that only direct factors are in the control of a borrower whereas for indirect factors you can't do much. Some readers asked me what these indirect factors are. One of the indirect factors is the ... Read More
How To Get Short Term Loan At Zero Percent Interest Rate
Short Term Loan is very common in the western world. These are popularly known as payday loans. Though both are technically not the same. The reason I referred both of them is that borrower pay or clear the same once he/she receives next salary. In banking parlance, a loan of up to 1-year tenure is referred as short term loan. You can also refer it as a cash advance. "What's in a name?" if you need a loan for short term max up to 52 days at zero percent interest rate then this post is for you. Even in 80's and 90's, the concept of the short term loan was popular but those days, the common ... Read More
Are You Eligible For A Loan with Lowest Interest Rate
Quite surprisingly Lowest Interest Rate is a key criterion for almost all the new and existing borrowers. It can be safely concluded that 2 out of 3 borrowers avail a loan from Lowest Interest Rate provider typically market leaders in the segment. The rest are not eligible due to various reasons thus settle with other loan providers. From last so many years you might be reading that you can get a loan at lower interest rate if your credit score rating is good. This was a plain lie as none of the lenders was willing to offer differential interest rate just based on the Credit or CIBIL Score. In ... Read More
5 Factors That Will Impact Your Credit Score Rating In Future
On daily basis i receive large no of queries on Credit Score Rating. As i keep highlighting that currently, the credit bureaus consider more than 70 data points to arrive at you credit score rating. In my opinion, it is mostly an eye wash. At the end of the day what matters the most is a handful of data points. I shared these critical factors in my post, Credit Report - 5 Important Factors that decides your credit score. Secondly, you cannot expect an overnight change in your credit score rating. Credit Score is a reflection of your credit behavior and may take up to 6-9 months to reflect in a ... Read More
MCLR Cut – 7 Myths and Misconceptions Among Home Loan Borrowers
"Sharp MCLR Cut brings relief to the home loan borrowers" read one of the news posts. On top of it, the senior management of the banks appealed existing home loan borrowers to shift to MCLR to take advantage of MCLR cut. I received large no of queries on my blog on how to take benefit of MCLR cut. In certain cases, wherein i suggested the readers that they will not be benefited immediately, i received some angry reactions :). The readers thought that i am trying to mislead them. But once they approached the bank and clarified the points shared by me, their apprehensions were gone :). Let me ... Read More
Buy Property And Double Your Investment – Do You Really Believe
Are you planning to buy property? Buy property in a project A or project Z to double your investment in 18/24 months. I am not suggesting you buy property in these projects but sharing excerpts of a pamphlet on my doorstep. Coincidentally, the same day two readers of this blog posted a query wherein they were trapped in a similar scheme. I tried to find out more about these schemes and thought of sharing my findings with the readers of this blog. Firstly, let me ask honestly do you really think that someone can double your investment in just 18 months or 24 months. If the answer is NO then i ... Read More
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