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This unlocking of extra value for gold pledged has further prompted a rush for gold loans, said jewellers
The portfolio outstanding of the sector stood at Rs 22.26 lakh crore as of December 2020, as compared to Rs 20.31 lakh crore as of December 2019, according to a CRIF High Mark report
Interest rates charged and the other charges like loan processing and interest in delayed payments are quite high
Retail borrowers are likely to queue up to rejig loans as many see their repaying capacity shrink in the second wave of the pandemic
Experts say that the increasing inflation due to disruption of supply chains during the lockdown also has an impact on the interest rates.
If an investor has a surplus amount and wishes to explore other investment options, such investment must provide a return of least 10-12% in order to be profitable
Here is a lowdown on some of the common factor based on which bank sanctions a home loan
As lenders may offer preferential rates or terms and conditions to existing customers, those planning to avail a home loan should first approach the financial institutions with which they already have a consumer relationship
A credit score can fall between 300-900. A score of 700 or above is generally considered as good.
To cover the shortage of funds, banks offer two kinds of facilities to salaried individuals- Overdraft Facility on your Fixed Deposit or Personal Loan