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Ahead of festive seasons, it is impossible to avoid the advertisements from lenders, offering loans for shopping and various other needs. Many await this opportunity to grab the best offer to buy a home, car, jewels, etc.at low interest rates.

Not many realise the importance of repaying debts taken from banks, NBFCs or online lenders. It’s the primary responsibility of the borrower to make the repayment on-time. Failure to do so can result in barring you from availing any future loans when you need them the most.

A personal loan is an unsecured loan that is quite popular among the borrowers. While the personal loans are availed for varied purposes, the eligibility criteria to get the personal loan generally remain the same.

Non-Banking Financial Companies (NBFCs)  is a financial institution that operates much like  banks but do not have full banking licence. NBFCs cannot provide certain banking services that banks offer.

What is considered a bad credit? Who will have bad credit? Will I get approved for a loan if I have bad credit? These are the questions people generally ask when they find their credit score has dipped. If your repayments go for a toss, you might find a reduction in your score.

Credit score, a three-digit numerical, is an important factor that lenders check when you apply for a loan or credit card. The eligibility is determined based on how much credit score you have obtained currently with your past credit activities.

Obtaining a loan with very bad credit history would seem a herculean task as the banks would want to be ensured of 100% repayment. When you fail to establish your repayment ability, what they look for is a collateral out of which they can retrieve the loan amount.

Kisan Vikas Patra (KVP) is a post office saving certificate scheme which was launched in 1988. This saving plan does not have maximum ceiling of investment which makes it a lucrative option for risk-free investors.

A personal loan is a popular loan option among all other loans as you can get the funds without any security. As the risks are higher for the lender in a personal loan, the interest rates are also higher. As a result, many feel it a burden to manage along with the monthly expenses. A huge sum of money is paid towards interest to the lender.

A change of residence, phone number and email Id are sometimes unavoidable. It is important that the changes are rightly reflected on the credit cards you use in order to facilitate a swift communication between you and the credit card company.

“I want to buy that latest upgraded mobile phone, but I have no money.”, “I need to buy a washing machine for my house, but I can’t afford as I have no funds.” These scenes of lamentations are no longer necessary as you have the convenience of purchasing all that you need with a credit card.

Providing financial security for the elderly people is one of the main duties of the Government for which there have been several pension schemes launched for both organised and unorganised sectors.

Short-term financial emergencies often pop up, and they are inevitable. Gathering funds instantly at such circumstances could be hard especially when you must apply for a loan from a bank or an NBFC.

Multiple debts can sometimes cause you distress. You may yearn to get out of it as soon as possible. Debt consolidation is a great financial option that can merge multiple credit card bills and loans. This method is very effective especially when you have higher interest loans and credit card debts.

Own house is an aspiration for lower and middle-income earning groups in the country. A home loan is the most convenient option for this population to buy a house and pay over lifetime. The maximum tenure on a home loan is 30 years which is a major part of one’s life.

Shopping online and offline, purchasing groceries, booking movie tickets and booking flight tickets, earning reward points, cashback, discounts and offers are some of the most common benefits of using a credit card. Women, who play a major role in taking care of the family needs require financial independence to manage all the credit activities.

Old age is the time to relax and enjoy life. Planning for a peaceful and joyful retirement is a smart move that you make when you are young. There are several saving schemes and insurance plans that can help you save money for old age. National Pension System (NPS) is one of the saving schemes that offers several benefits. NPS subscribers can avail an additional tax benefit of Rs. 50,000 under section 80CCD(1B) of the Income Tax Act. Are you interested to know more about the saving scheme? Read on!

Public Provident Fund (PPF) is so far the popular investment instrument that is largely sought after by Indians. Risk-free returns, tax benefits, loan facilities and higher interest rates make it an attractive option for many to choose this investment vehicle. But does it score high over investments such as mutual funds, insurance and stocks? Can you withdraw the PPF before that maturity period? Let us look in detail about its features and benefits.

When you are employed in an organisation - be it any - the employer would fix your salary after a discussion and your acknowledgment. You may have noticed that a small part of your salary is deducted each month. Have you ever wondered where that money goes mysteriously? This money is contributed toward Employee Provident Fund (EPF) which is maintained by the Employees’ Provident Fund Organisation (EPFO). If you have worked for so long, you must be curious as to how to check your EPF balance that may have accumulated until now.

A business loan is one of the biggest financial commitments you will have in your life, which means you should be prepared to bargain for the best offer. In India, there are many banks that offer term loans, small business loans and many of them are negotiable. Therefore, you will have to negotiate for the best during the loan process.

Having a strong business concept and the passion to drive this business plan into reality sets the foundation to run a successful business. Another factor that is as important to run a business is money. With many lending institutions offering a lot of credit options, it is not difficult to get a business loan. But the difficulty to get any loan approved by the lender is when you have a bad credit score.