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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
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A credit score can fall between 300-900. A score of 700 or above is generally considered as good.
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To cover the shortage of funds, banks offer two kinds of facilities to salaried individuals- Overdraft Facility on your Fixed Deposit or Personal Loan
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About 10% of the total credit of Rs 85,000 under this head has turned NPA.
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In a letter written to the RBI Governor Shaktikanta Das, the industry body also requested loan recast for smaller NBFCs, having asset size of less than Rs 500 crore
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Sometimes, your insurer may take a long time to settle the bills or might not pay for a few services that are not provided in your policy
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Too many job jumps, even if they come with salary hikes, can raise a red flag for the lender
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Smartphones, electronics goods, large appliances, and other high-value and fast-moving items for the e-commerce industry are not categorised as essential goods
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The increase in yields will surely rule out any interest rate cut going forward
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Defaulting on your home loan EMI can be highly damaging to your financial health, so borrow according to your repaying ability to manage your finances optimally