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Home Loan for Women

In the continuously feminising world, women are moving closer and closer to gain complete financial independence. The biggest step towards attaining the financial stronghold is house ownership. In order to encourage and empower women to buy their own homes, government and banks provide various benefits to female home buyers. While the government offers a concession on stamp duty, the banks proffer lower interests and longer tenures to women home loan borrowers. Home Loan Benefits for Women Alongside a reduction of

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Types of Personal Loans

As the term suggests, a personal loan is a loan which is taken for personal purposes. You do not need to specify the reasons to a bank or financial institute on how you are going to utilize the funds. You can use them at your own discretion for any legitimate purpose. Personal loans can be availed at both fixed and variable rates of interest. The loan can be repaid either in instalments or over an overdraft. Personal loans can be

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Personal Loan for Low CIBIL Score

A credit score is a numerical figure that symbolises the creditworthiness of a person and is generated on the basis of the credit data of an individual, that is available on the records. CIBIL score is a term that is synonymously used for credit score. It is issued by CIBIL which is an abbreviated form of Credit Information Bureau (India) Limited. The company has been renamed as TransUnion CIBIL. It is the oldest credit bureau in India and is, therefore,

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Personal Loan Pre-closure Charges

Although a personal loan looks appealing for most individuals yet, in the long run, it can prove to be painful pertaining to the long repayment period and high interest rates. No doubt that personal loan is your way-out of a financial crisis but what after the money crunch is over and you have access to ample funds. Now you can either keep these funds in your bank accounts, use them to make investments or can pay-off your personal loan. While

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Personal Loan vs Overdraft

Personal loan as well as overdraft account both involve shorter approval process, require minimal documentation and above all both have no compulsions as far as utilisation of funds is concerned. Yet there are considerable differences between the two, in terms of loan structure, borrowing costs and repayment mechanism. There are certain factors that you must keep in mind before deciding whether you should go for a personal loan or for an overdraft facility. In case of a personal loan, you

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The Best Credit Card for You

Picking the best credit card is tedious, especially when the best credit card does not exist! Confused? Let me break this to you that since different people have different needs and comparing the needs of any two individuals is foolish, defining the best credit card suitable for everyone is foolish too. There is not any credit card that will meet all the requirements of all the people. However, you can pick a card that best suits your needs by following

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How Does a Credit Card Work?

Being nothing more than a small rectangular piece of plastic issued by a bank, a credit card leaves most people in awe when it takes care of huge bills and payments in just a single swipe. You can’t help but wonder about the ease of the entire process and how it works. Here we are going to answer just that. What is a Credit Card? A credit card is a financial instrument issued by a bank by means of which

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Should You Take a Personal Loan for Starting a Business?

Starting a business is not a cake-walk on a straight road but a path full of twists and turns. As it is said the biggest challenge is to begin, the biggest hurdle lies in raising the requisite capital for your startup. Bootstrapping is not always an option and while investors are a good source for both funds and mentoring, it takes a lot of time, effort and convincing on your part to make them take an interest in your business.

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Credit Card Fraud

Credit card fraud is a form of theft committed by an individual with the intent of stealing from a lost, stolen or revoked credit card. A person does not need to necessarily possess the actual credit card for committing fraud. Somebody using your card information, without your knowledge, is also a form of credit card fraud. In simpler terms, credit card fraud is the phenomenon of making purchases without having to pay from one’s own pockets. In certain cases, credit

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What is FOIR?

FOIR (Fixed Obligations to Income Ratio) is a difference between the net monthly income and all of the assured financial liabilities a person holds including the EMIs of the loan that he/she have just applied. As per Banks’ guidelines, a borrower can only lend from 45% to maximum 75% of their current net income so a person can manage his debt requirements as well as living expenses. The fixed liabilities analysed for the calculation of FOIR includes expenses for food,

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