The Vibe Journal: Finance Blogs

If you know how to find a CIBIL report and read it, you can easily assess your financial standing. When you download and read a credit report, it helps you understand your credit health and take the right steps to boost your creditworthiness. A CIBIL report is a detailed file of the account holders’ financial …

The APR vs APY comparison is quite interesting as it focuses on interest calculations for two varied instruments. While the APY focuses on the gains you earn as an investor, the APR relates to the cost of borrowing. However, this isn’t the only difference between APR and APY.  Read on for insights to compare the …

Your PAN card is linked to every loan and credit product you take in India, including personal loans, credit cards and BNPL services. Since lenders report all borrowing activity against your PAN, checking loans linked to it regularly can help you track your active credit accounts and spot any suspicious activity.  When we use lending, we see more …

Why do lenders need bank statements, you wonder? Well, these documents record your income and expenditure. So, lenders use them to check the stability of your earnings while ensuring that you have enough funds in your account to successfully repay the loan.  This evaluation affects your chances of approval as well as the amount you …

Knowing how to manage multiple loan accounts is not rocket science. Instead, it is about being disciplined and organised, both skills that financially independent adults need to inculcate.  With easier and quicker access to credit, having multiple loans and credit cards is very common. But if you are unable to keep up with repayment, you …

Have you ever checked your loan app and seen terms like ‘activation pending’ or ‘active loan’ and wondered what they really mean? This is one of the most common doubts borrowers have once their loan gets approved. Is your loan already running, or is it still waiting for some final step before disbursal?  The answer …

Knowing when to take out a personal loan isn’t easy, but there are instances where these loans can help. For one, these loans are a great option for dealing with emergencies, as you get funds quickly.   You can also use the loan amount to streamline existing debt repayments, build your credit score, or save on …

Before you search for loan companies who use Experian, make sure you understand what this score is and why it matters. Financial institutions rely on the Experian credit score to check if you are eligible for credit based on your past credit behaviour.  Thus this score can impact the approval of your loan as well …

Do personal loans affect mortgage applications? This is a smart question and the simple answer is yes. Even though one is unsecured and the other is secured, any existing loan affects your second loan. Your existing personal loan can have a significant impact on everything from eligibility to interest rates. Read on to get an …

Before you plan on getting credit, you must ask the question, ‘Are personal loan rates going up or down?’. This is because interest rates significantly affect your overall borrowing cost. With an increase in the rates, your repayment amount will also go up and vice versa.  These interest rates depend on several factors, from your …