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Loans

Is interest the only factor to consider when applying for a home loan?

Vishal applied for a home loan and was happy as he had managed to get a good deal on the loan interest rates. He shared the news with his friend and how he thought he had got a loan at what he thought was a decent rate. His happiness was rather short lived, when his friend asked him how much was the processing fee, was the rate fixed or floating and so on. Vishal had no clue about all this; he had thought that interest rates are the only thing to consider when taking a loan; so he had not bothered to check about anything else. If you are taking a loan do not make the same mistake as Vishal and do check about the following. Read More...

Posted On June 15, 2016 by Abhishek Agarwal in Home Loan

 
 

Things to Keep In Mind When Getting an Add-On Card

Supplementary cards issued to the family members of the primary card holder are known as add-on cards. There is a possibility of getting more than one add-on card for the same primary card depending on the policies of the credit card company and the requirements of an individual. The add-on card holders generally enjoy the same privileges of use as the primary card holders except that the responsibility of the payment rests with the primary card holder. The card/s are issued based on the documents and proofs taken for the primary applicant. The primary holder can if he so desires set a different per day and overall all limit for the add-on card. If more than one add-on card is issued then obviously the sub credit limit is divided between the multiple supplementary cards.Read More...

Posted On June 13, 2016 by Abhishek Agarwal in Credit Cards

 
 

How to Increase Your Credit Card Limit

Increasing your credit card limit is not about having the extra spending power. It has several long term benefits. First of all, it has a positive impact on your credit score. It will reduce your overall credit utilization ratio. This means more credit lines will open for you at a much lower interest rate. Secondly, the surplus limit means you will always have extra funds available for emergency. Lastly, it is always better to get an increase in the credit card limit rather than applying for new credit card, as your credit score is directly affected by the new credit accounts. Here are a few ways in which you can enhance your credit card limit.Read More...

Posted On June 9, 2016 by Rajiv Raj in Credit Cards

 
 

Common Home Loan Problems and How to Avoid Them

Applying for a home loan may seem like a simple procedure of submitting a few documents and signing a few pages. However, this process can be long, even without any obstacles. First of all, there is always the possibility of initial rejection. Then there is the confusion of fixed rate vs. floating rate. To top it all, you might not even get the entire amount you were hoping for. When it comes to home loans, informed decision is always the right decision. Home loan will be the biggest loan of your life, both in terms of the amount and the tenure. Doing your homework is pertinent. Here are some of the common problems that are faced by home loan borrowers and how you can avoid them.Read More...

Posted On June 7, 2016 by Rajiv Raj in Home Loan

 
 

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Make sure that all deals and offers agreed upon are supported by relevant papers. You should always ask for a letter in a banks letter-head mentioning the likes of, exact rate of interests, processing fees, pre-payment charges along with interest-schedule.

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Dr. K. S. Sobhana

Dr. Sobhana, a Senior Scientist with Central Marine Fisheries Research Institute, was having trouble with her auto loan because of her CIBIL report. She spoke to one of our Credit Experts and ...

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