Dropline overdraft: Features and more
Businesses are always in need of funds for their smooth operation. To help meet the business requirements of banks, NBFCs offer various financial tools such as lines of credit to meet business expenses. An overdraft facility is one such tool that allows the borrower to overdraw funds for their requirement up to a certain limit. […]
What happens to your credit score when you fail to make a credit card payment on time?
Always make credit card payments on time to maintain your CIBIL Score. YES, a single failed credit card payment can drop your credit score. Even though a failed payment may have been a mistake or the inability to pay (we all have financial difficulties), lenders view this negatively. They may affect your ability to obtain […]
What are the top five challenges for MSME business loans?
Approximately half of India’s exports are attributed to the Micro, Small, and Medium Enterprises (MSME) sector, contributing more than a third to the country’s GDP. According to the MSME Ministry, the Udyam Registration portal has registered over one crore MSMEs. The development of the MSME sector boosts India’s manufacturing output, employment generation, and national exports. […]
Education Loans: What Every Parent Should Know
The goal of getting into your dream college or going abroad for higher education is what many students strive for. Education is becoming more expensive due to the high inflation rate. In addition, many parents might have difficulty funding their child’s education due to the inflation and rising cost of education. An education loan may […]
Diversification of Finances: A Key to Success for SMEs
Diversifying Sources of SME Funding Facilitating SME Financing: New Avenues Of Diversification You probably know the saying, “don’t put all your eggs in one basket”. Did you know it also applies to your business strategy? Diversification: it makes it possible to accompany the growth of the company. But is such a project not fraught with […]
How to quickly build credit for the first time?
Ready To Get Your First Credit? Here’s What You Need To Know Are you ready for your first credit? Taking credit can be a great financial tool, but if used irresponsibly, it can get in your way by putting you in excessive debt and imposing unmanageable payments. These days, getting credit is fairly simple. You […]
Credit Bureau Showdown: Comparing CIBIL and Experian in India
When it comes to credit scores, CIBIL and Experian are two of the most well-known credit bureaus in India. Both of these companies are responsible for collecting and maintaining credit data for millions of people in India, and both offer credit scores and credit reports to help individuals understand their creditworthiness. In this article, we’ll […]
ARE CASH CREDIT AND OVERDRAFT FINANCIAL PRODUCTS SAME?
CASH CREDIT AND OVERDRAFT Business both small and medium need timely influx of money to run their daily operations smoothly without any hiccups. However, in certain conditions a business may require cash for their long-term or short-term goals. In such cases, there are two options available for taking a loan for business needs: This article […]
ADDING POSITIVE CREDIT HISTORY TO YOUR CREDIT REPORT
POSITIVE CREDIT HISTORY More companies are looking at your credit history when considering whether or not to do business with you, so having a good credit history is more important than ever. To get a home loan, rent an apartment, buy a car, get a good insurance rate, and even find a job, you’ll need […]
WHY DO CREDIT CARD ISSUERS LOWER CREDIT LIMITS?
CREDIT CARD ISSUERS Credit card issuers can often increase or decrease credit limits without notice, even lowering your limit to the point where you have no credit available. If you don’t have any accessible credit, you won’t be able to make any purchases until you clear some of your current debt. Sometimes, they generally cut […]