Finance Forum India

Credit scores are one of the most important financial numbers that people should know about. But unfortunately, most people are unaware of credit scores and how it impacts lenders’ perception of their credit-worthiness. Here we try to remove any confusion people have about some of the popular myths: Myth 1: No Credit History? You will not get loans This is wrong. It’s possible that without a credit history, you might not get a very large loan. But it is still possible to get a small loan like personal loan etc. This in turn will start your credit history. Myth 2: I...

In last few decades, neither India nor any other country of the world has witnessed such a big step by its government to curb black money. The demonetization has frankly thrown life out of balance for a major part of the population that is now struggling to get its now-defunct currency exchanged for legal ones. Now a lot of commentaries are going on about the impact of demonetization on various parts of the economy. To be honest, it’s still very early to correctly assess everything. But few things are becoming clear. Like there will be a big cost that the economy...

Personal loans have been helpful for those who need quick access to funds without much paperwork. The reason for taking a loan may be for casual spending or for emergency purposes. The best part about personal loans is that they don’t put any restriction on use of the funds. But there are things that do get affected when you take a personal loan. And this is your credit score. For a good credit score, it is important to have a mix of both secured (home or auto loan) and unsecured (personal loan and credit card) loans. But when the percentage of...

Cash-strapped businesses may borrow a loan to obtain the necessary financial assistance. Lenders provide loans to enterprises with an ardent need for cash. These loans may be used for numerous purposes like a start-up, to fund daily activities, as well as for growth and expansion. Such loans are key sources of funds for these businesses. Tata Capital, a well-known financial institution provides loans at competitive interest rates. It offers an array of benefits for those seeking to borrow loans for business purposes. Due to such numerous offerings, Tata Capital business loans are a preferred option. Following are five benefits of availing...

Adequate finance is needed for smooth functioning of a business. Many businesses avail of credit through loans to fund their daily activities. It also helps businesses to purchase necessary equipment and inventory, to recruit new talent, and to expand existing operations. Such finance also helps firms to tap opportunities that come their way, thereby helping them expand their business. Although many businesses may apply for a loan, not all firms are eligible to receive approval on one as there are certain eligibility criteria that need to be fulfilled. Tata Capital, the financial arm of Tata Group, is one of the top...

Rising stress due to the fast-paced life has increased the incidences of chronic diseases like heart problems, hypertension, and diabetes. In addition, accidental death or serious injuries where you are unable to work may result in financial distress. Securing your financial future with a health insurance policy is advisable. This type of coverage is beneficial as it will pay your treatment costs, hospitalization expenses, and much more. Here are five reasons why you must gift your family members a health plan this Diwali. 1.   Health insurance pays for hospitalization Rising healthcare costs may significantly impact your finances. If you or your...

Availing of a business loan is an excellent way to overcome capital constraints. Several financial institutions offer different types of loans to small and medium enterprises (SMEs). Here are three features and benefits of SME business loans. 1.    Quick processing Entrepreneurs can easily check their loan eligibility online. After determining eligibility, they can submit their documents to further process the SME loan. Most lenders require minimal documentation to approve the loan. Moreover, the entire process is quick and hassle-free. 2.    Higher loan amount Entrepreneurs may avail of a loan of up to INR 75 lakh based on the financial situation and...

It often becomes difficult for aspiring students to fulfill their dream of higher education, owing to financial hurdles. The cost of education is very high, especially for foreign studies. The expenses incurred for courses abroad include tuition fee, accommodation cost, and lifestyle expenses. Though scholarships reduce the financial burden of students, not everyone is able to secure one. For this purpose, the government of India has launched a scheme, known as Padho Pardesh, to provide interest subsidy on loans taken for the purpose of higher education overseas. This scheme is applicable for students belonging to minority communities like Sikhs, Buddhists, Parsis,...

Manish had to go to the bank more than five times just to speak to his home loan officer. After finally managing to meet with her, she told him about the long list of documents he needed to submit. He would require photocopies of his ID proof, address proof, and more. Manish did the needful and went to the bank the following day to submit his application. Unfortunately, the officer was on leave, and her colleague handed him another long and complicated form, which he somehow managed to fill up. After the officer returned from her leave, Manish finally submitted his...

The real estate market in the country is on its path to revival. Now that the demonetization of larger currency notes has kicked in, small builders as well as credible developers struggle to launch new projects or even meet deadlines. This is a result of unaccounted money getting wiped off from the market and they simply can’t raise enough funds to meet the committed timelines.   Real Estate Regulatory Authority (RERA) is going to put a bunch of not-so-credible builders and even brokers out of business. Every home buyer is now protected from such players who have ulterior motives, which has...