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We Indians are fond of gold. Not only does gold hold investment value, culturally we show an affinity towards gold. In fact, a study by the World Gold Council in 2017 revealed that Indians households, form the world’s largest hoarders of gold, holding a record 23,000-24,000 tonnes of the precious metal, worth at least $800 billion. Though the fancy for this metal has decreased after demonetization, gold still holds a strong place here.  

A good education is a great asset to have. More often than not, it forms the stepping stone to a great career. Many individuals look to obtain a higher education abroad or at a premier institute in India. These degrees do not come cheap. And to add to it the living expenses during the education. The cost comes up to a tidy sum; hence the need for education loans. These loans also go on to teach a sense of responsibility to the youngsters, as the loan is in their name.  

Owning a vehicle (especially a car) brings is a sort of fulfillment/achievement.  For many, it is a childhood dream to possess your own fancy set of wheels.   When so many emotions are attached with a car and you have paid a neat sum to own them, you must take every possible precaution to ensure the safety of your car.  

We study history to understand and learn from our past so that we can improve our future. Similarly, credit history has a bearing on our present and future. All our actions in the past concerning our credit behavior are recorded and presented as a three-digit number ranging between 300-900. This is the credit score.  We are aware that higher the number, better the credit score is.

Credit cards are one of the most convenient instruments for payment. Their utility goes beyond the convenience, in the sense that credit cards also help in numerous other ways, such as bringing in offers on various categories of spends like entertainment, transport, dining, etc. As useful and convenient the credit cards are, they turn into financial destructors when outstanding bills are not paid on time.  

The used car market in India is booming. According to the reports, the ratio of new cars to used cars is 1:2.2, which means that for every 100 new cars sold, 220 used/pre-owned cars come into the market for sale. The annual volume in the used car market is estimated to be 4 million units, which is 50% more than new car sales. 

There are increasing instances of individuals with good credit score getting benefitted with better deals on loans and credit cards. For instance: ICICI Bank has started using a curated algorithm to pre-approve 100% on-the-road car loan financing for its customers who are creditworthy. SBI charges a lower percentage of interest on its loans for individuals with good credit score. Therefore, the importance of a good credit score cannot be overemphasized.  

Entrepreneurism is on the rise in India. Campaigns such as Make In India and the encouragement for startups are making the business environment very conducive. However great an idea may be, it cannot take off without monetary backing. There are many sources of funding available to a business owner.

Personal Loan is an unsecured credit and one of the easiest loans to apply. It does not need exhaustive documentation like Home loans. Moreover, personal loans can be put to use to meet any need, like taking a vacation abroad, meeting a medical emergency, as a down-payment for a home loan, or even for a wedding.  The terms and conditions of a personal loan are also easier and simpler to understand. 

All through the working years, individuals wish that they have the time to do a lot of things like travel, cultivate a hobby, etc. Picture this- when you retire, you have the time on your side but fall short on the resources. It is not a nice situation to be in when you get into the stage of retirement without adequate preparation. In the current social structure, not saving up for retirement can end up being a big mistake.

Buying a home is one of the most important financial decisions that an individual takes in their lifetime. A lot of importance is given to searching the right home and getting the home loan on favorable terms.  However, not much thought is given to the home loan repayment, other than availing income tax benefits.  

Retirement is an important phase of one's life. This is the stage where most of your responsibilities such as loans, education of children, and other liabilities should be taken care of so that you could spend your time relaxing doing what you like. 

Just like Permanent Account Number (PAN) forms your identity while carrying out any financial transactions, a credit score acts as your identity in the world of credit. Your PAN is required undoubtedly, but your credit score assumes more importance here. 

Imagine the agony and pain one would have to go through if your home gets washed away in floods, like the recent one in Kerala or if it falls apart like a pack of cards in an earthquake or it is broken into. Though you might not even want to think of such situations, it is quite possible that anyone can land up in such a situation. So what do you do in such circumstances?  

The importance of credit score is known to all of us. Maintaining a good credit score is advantageous in a multitude of ways, like better chances of getting a loan/credit card approved at favorable terms, improved negotiation power, increased probability of getting higher amounts of loan, etc. 

Using a credit card is akin to using a double-edged sword. While it provides numerous benefits in the form of convenience, short-term access to credit, reward points and offers; at the same time, improper use of a credit card can land you in deep financial trouble. Credit card debt carries the highest rate of interest to the tune of 30-40% per annum.  

NRI home loans help people who reside outside the country to buy homes/lands in India. Many top banks, NBFCs, and lending institutions offer home loans for non-resident Indians who reside outside the country due to work or business reasons.

Credit score has become an integral part of our financial well-being. To be eligible for any kind of credit, a good credit score is essential. But we are humans and it is natural for us to make mistakes. Sometimes, that might cost us our credit score. Once we get into the territory of bad credit scores, getting further credit on the best terms gets increasingly difficult.  

Mahesh Kurundwad, a social media analyst based out of Pune, had a lot of responsibilities at home. So most of his salary was utilized in meeting those expenses.  To meet other discretionary expenses, he often went in for personal loans or used his credit cards.

To be able to own a home is a matter of great pride, hence owning a home ranks high among the aspirations for a majority of Indians. When you come to think of a home, it is the most expensive asset you own. Therefore, fulfilling the decision to buy might not be possible without the aid of a home loan.

Credit Cards are being used more than ever for both online and offline purchases. It is convenient- there’s no two ways about it. However, many times there arise certain situations where an error is made while paying through a card.  Sometimes we assume that once we pay with the card, the payment is done, and nothing further can be done about it.