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As per latest announcement from RBI, it proposes to make ‘all micro loans collateral free’. It aims to make micro-lending collateral free not just for MFIs, but for all lending institutions. 

You can check your credit report as many times as you want. A self-check doesn’t affect your credit score so there is no problem. However, you will get only one free credit report in a year and subsequent credit checks will cost you money. TransUnion CIBIL, Equifax, Experian and CRIF Highmark – these are the 4 credit bureaus in India. 

A Machinery Loan is a kind of business loan availed to acquire machinery or equipment for their business. HDFC Bank, Bajaj Finserv, Lendingkart Finance, Tata Capital Financing and Ziploan are some leading providers of machinery loan in India.

ECLGS and CGTMSE have been the go to credit schemes for MSMEs in India. What other schemes are available beyond these two? 

The PNB Seva Scheme is a credit product offered by PNB for MSME businesses. The PNB Seva Scheme offers loans in the form of Working Capital Loan, Term Loans and Non-fund based credit options. 

MSMEs reap the maximum benefits through Supply Chain Financing. It makes them credit ready and helps them take care of working capital needs. 

Even if you are unemployed, you can get a credit card if you have other sources of income and a substantial quantity of money flowing into your account every month or so.

A credit score of 750 and above is considered ideal to get the best credit cards. You can get credit cards even with a lower credit score that come with many basic and attractive features. Applicants with poor credit can try these 5 cards

There are a number of credit cards customized for women. Some of the leading credit cards are

Reliance Nippon Super Money Back plan offers assured and steady income to policyholders. The plan offers enhanced security to policyholders and his/her family members as per individual needs. The guaranteed monthly income under the plan is designed to increase with every passing year. 

A non-linked participating policy. Policyholders can get periodic payments on survival throughout the term. 

HDFC Life Super Income Plan is an endowment plan that comes with a bonus facility. The plan requires premium payments to be made in tenures of 8, 10 or 12 years. It pays a regular income for a period of 8, 10, 12 or 15 years post completion of the premium payment term.

The SBI Smart Money Back Gold Plan is an individual insurance product that is primarily designed to be a non-linked participating plan. 

A money back insurance policy pays the maturity benefits similar to a traditional insurance policy, however, through multiple guaranteed “survival benefits". These benefits are distributed evenly across the policy duration. This makes a money back insurance policy an endowment plan that offers the benefit of continued liquidity.

As per data shared by India Mobile Payments Market Report, 2021 has seen mobile payments in the country grow faster than credit card payments. Here are the details:

Pre-EMI and Full EMI are two home loan repayment types that are available for home loan borrowers. Here are the key differences between these two EMI formats

Cardinsider.com is a portal for comparing credit cards and choosing the right card based on one’s financial needs. Here are some useful tips shared by Card Insider to ensure wise usage of credit cards

Improve your credit score – A credit score of 700 or above can ensure that you get a personal loan at low-interest rates. It must be backed by a good credit track record. You can improve your credit score by ensuring timely credit card bill payments and loan repayments.

As per interest rates for 2021, Bank of Baroda offers the lowest interest rates on loan against property. The interest rate offered by the bank for this type of loan ranges between 8.20-13.85% for loan amounts ranging between Rs. 2 lakhs to Rs. 10 crores. The maximum loan tenure offered by the bank is 15 years.

Corporation Bank home loan EMI calculator allows you to determine the approximate EMI you need to pay every month. This helps you to decide whether you can afford the monthly EMIs comfortably. 

With Corporation Bank home loans, borrowers get the benefit of floating rate of interest. Usually, when there is a change in the rate of interest, the EMI amount changes accordingly. But with Corporation Bank home loans, the EMI will remain the same but the repayment tenure is adjusted accordingly.