A Non-Performing Asset (NPA) is a loan or advance that stops generating the expected income for a lender because the borrower has not made the required repayment for the prescribed period. In the case of a term loan, an account is generally classified as an NPA when the interest and/or principal remains overdue for more than 90 days, as per applicable RBI …
A credit review, also called a credit appraisal in some lending contexts, is an important part of the loan approval process. It helps a lender assess how likely a borrower is to repay on time before approving a personal loan or deciding its terms. During the review, the lender may examine your credit history, income, …
This article explains what an NOC after loan payment means, its full form, what it contains and how to get one after closing a loan. It also covers why securing this loan closure certificate matters for your credit score and legal safety. Reading time: about 5 minutes. A No Objection Certificate, or NOC, after loan payment is the …
A balance transfer in a personal loan is an excellent option to manage your repayment and even save on interest. This facility allows you to transfer your loan balance from one lender to another, which is a feasible solution when a new lender offers a better interest rate than your current one. However, to make …
Unified Mobile Application for New-age Governance (UMANG) allows you to complete an EPF balance check easily. On this platform, you can access details about various central and state government services in 13 different languages. In addition to this, you can conduct an EPF enquiry through the official Employees’ Provident Fund Organisation website. Other options include …
Pre-approved credit cards offer instant credit, which helps the cardholder efficiently manage unplanned expenses. You can get these cards from the issuer when you meet certain eligibility terms. This way, you can get the required credit without waiting for approval. While getting such an offer may sound exciting, assessing the pros and cons before opting …
Financial institutions levy credit card over limit charges when you spend more than your sanctioned credit card limit. While this increases your credit card bill amount, it has other negative effects, too. Understanding these charges helps you manage your use of credit and your finances. Read on to learn what is over limit in credit …
Access to multiple credit cards has made it easier than ever for you to shop, address daily expenses and cater to emergencies. After all, credit cards offer easy access to credit whenever you need it. What’s more, you get to enjoy exciting benefits like: Cashback on certain transactions Discounts and deals Reward points Fuel surcharge …
A credit card statement can be an essential tool that can help you manage your transactions wisely and without much hassle. The card provider generates this document at the end of every billing cycle or at the cardholder’s request. While you can check your billing amount and other important details with the credit card statement, …
If you miss your credit card due date, most Indian banks charge a late fee based on your outstanding balance, typically ₹100 to ₹1,300 or more. Under RBI rules, this fee can only apply if your bill stays unpaid for more than three days past the due date and only on the outstanding amount, not …
