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Finance Forum India

Share your thoughts on finance education, economic developments, capital markets movements or your professional experience in the field of finance.

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Whether personal loan rate changes after rate cuts depends on whether the loan is Fixed or Floating Rate type

Rate cuts bring joy to borrowers. It is because any reduction in borrowing rates means lower EMIs and lower interest payment. And who would not want that? As there is general consensus that current demonetization drive will lead to reduction in borrowing rates, almost all existing as well as soon-to-be borrowers are happy. But for those who already have a personal loan, whether or not their loan rates are reduced will depend on the type of loan they have. Let us relook at the two types of loans that are popular in personal loan market: Fixed Rate Loans The interest rate...
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What is CIBIL Credit Score and how is it calculated?

If you are abreast with recent developments in financial field, you would have heard the words Credit Score, CIBIL Score, etc. Many people have a rough idea what it is but don’t know about it in detail. In this article, we try to throw some light on the concept of Credit Scores. Credit or CIBIL Score is a 3-digit summary of your credit history. The score based on your credit history and how you have handled your credit payments across all loan types over a given period of time. This is in no way concerned or dependent on information about your...
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Manage Your Repayment with Personal Loan EMI Calculators

Whether you need money to fund your wedding or for your child’s higher education, a personal loan is an excellent choice. These types of loans are unsecured and do not require pledging your personal assets. You will be able to avail of a loan based on your current income and repayment capabilities. Moreover, the entire procedure to acquire a personal loan is quick and hassle-free. Most lenders offer personal loans at competitive interest rates. Furthermore, you may choose from flexible repayment options to suit your personal needs. The repayment is based on an Equated Monthly Installment (EMI), which is payable during...
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Myths about Credit Scores and your Credit-worthiness

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...
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Implications of demonetization on Indian economy in the Short and Long term

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...
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Impact of personal loans on your credit score

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...
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5 Benefits of Tata Capital Business Loans

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...
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How to be Eligible for a Tata Capital Business Loan?

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...
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Why You Should Gift Your Family A Health Insurance Plan?

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...
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Learn How Business Loans Work and What You Stand to Gain from One

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...
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