Getting your first credit card is rewarding but can also be challenging. As someone who’s new to credit, you may not have an ideal credit score or history. This makes financial institutions hesitate when it comes to approving your application. After all, a strong credit history and score reflect creditworthiness, whereas its absence implies a …
Travelling with a credit card can be a great move as it allows you to pay safely and enjoy a range of cost-saving benefits. These include racking up rewards points on all transactions, redeeming them for flight tickets and hotel bookings, enjoying discounts at dining/retail partners and more. By using your credit card efficiently and …
Want to make the most of seasonal offers on electronics, gadgets and electronics? Well, by using credit cards, you can avoid making lump sum payments and convert your bill into affordable EMIs. Simply put, buying products on EMI gives you the benefit of buying now and paying in instalments. This way, you can buy …
Amortised loans are one of the many repayment options offered by lenders. When you opt for a loan, one of the most important factors to consider is the EMI. It includes a portion of your interest and principal, which you need to repay on a fixed date every month. Any form of credit, where your …
Loan underwriting is an important part of the loan approval process. It helps lenders understand a borrower’s creditworthiness, repayment capacity and overall risk profile before deciding whether to approve a loan. The assessment can also influence the eligible loan amount, interest rate, tenure and other terms offered to the applicant. Lenders typically review financial documents, credit history, income, employment details and …
Running a business often involves a gap between when expenses need to be paid and when revenue is received. Salaries, supplier payments, rent, utilities and inventory purchases may all be due even when customer payments are still pending. A Working Capital Demand Loan (WCDL) can help businesses manage such temporary cash flow requirements. It is a short-term working capital financing facility …
Credit derivatives are a type of financial contract that helps parties minimise their credit risk. Two parties hold these negotiable bilateral contracts privately and trade them over the counter. In credit derivatives, creditors can transfer the credit risk of a debtor to a third party. In exchange for taking the credit risk, the third party …
As India continues to adopt digital payments, understanding the difference between NACH and ECS can help you manage recurring transactions more effectively. Both systems are used by banks, financial institutions, companies and government bodies for repetitive payments and collections. ECS and NACH can be used for transactions such as loan EMIs, utility bills, insurance premiums, salaries, pensions and other recurring payments. An ECS/NACH …
You can easily transfer EPF online on the EPFO portal, which you may need to do if you switch jobs. If required, your employer will register you on the Employees Provident Fund Organisation (EPFO) portal. As per the regulations, both you and the employer contribute to your account to build a corpus for retirement. While …
Filing a provident fund claim online can help in the partial or complete withdrawal of funds, allowing you to manage unexpected financial needs or planned expenses. The Employee Provident Fund (EPF) is a savings scheme initiated by the Central Government, where you and your employer make equal contributions, which helps you build a sizeable corpus …
