As per a Bloomberg report, nearly 56 per cent of individuals have availed the moratorium facility proposed by the RBI in March 2020. Anyone having a loan with banks and NBFCs could avail this benefit and did not have to make any repayments for the moratorium period. The benefit is extended till August 2020. The objective is to provide relief to those borrowers who could be facing a liquidity crunch due to the lockdown impact on jobs and business income. While this may provide

In the event of Covid19 crisis and the subsequent lockdown, the RBI announced a three-month moratorium on loan repayments 2 months ago. Anyone having a loan with banks and NBFCs could avail this benefit and did not have to make any repayments for the months of March, April and May. Now this relief has been further extended by the RBI till August. 2020 The objective is to provide relief to those borrowers who could be facing a liquidity crunch due to the lockdown impact on jo

One of the important decisions in buying a house property involves taking a home loan. Skyrocketing real estate prices have made it inevitable in India for a common man to fund assets like a home through bank loan. It is prudent to be prepared first before applying for a home loan. Preparation here means not just getting familiar about various facets of home loan application. It also implies financial preparation since you would be taking on a liability in the near future. So

Unlike our ancestors, borrowing money is not a taboo in present times. As a matter of fact, majority of the people have no option but to take loans when it comes to at least funding big-ticket purchases like a house. Due to skyrocketing real estate prices in India, buying a house, office space, a parcel of land is just not possible without borrowing from the bank. Easy processes and quick disbursals make it convenient to take loans nowadays. Then of course, there are certain

Loan approval from a bank can be a harrowing experience nowadays. Banks follow a strict loan evaluation process. Apart from a whole host of documents being demanded, banks assess your income earning & repayment capacity. Besides these other factors, having a good credit score is critical for deciding your loan eligibility. The concept of credit score is gradually gaining significance in India. There are many agencies like CIBIL (Credit Information Bureau India Ltd), Equifax C