Articles for Dti

Can you get a personal loan with low credit score? Check details
4 days, 17 hours ago

Can you get a personal loan with low credit score? Check details

India Today  

Getting a personal loan with a low credit score might seem challenging, but it’s not impossible. HERE ARE SOME TIPS FOR OBTAINING A PERSONAL LOAN WITH A LOW CREDIT SCORE Bring in a guarantor or co-applicant Personal loans are unsecured, meaning no collateral is required. If your credit score is below the lender’s threshold, consider involving a guarantor or co-applicant …

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Think you know credit scores? These 9 facts will surprise you
1 week, 6 days ago

Think you know credit scores? These 9 facts will surprise you

Live Mint  

Whenever you apply for a loan or a credit card, your credit score plays an important role in determining whether the bank will approve or reject your application. No loan or credit card equals no credit score To build and maintain a good credit score, you have to avail a loan or use a credit card regularly. A high credit …

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Personal loan application: How does credit score matter and what are the other factors considered?
1 month ago

Personal loan application: How does credit score matter and what are the other factors considered?

Live Mint  

Before applying for a personal loan with any bank, NBFC, or fintech, make sure you check the eligibility criteria. The higher the credit score, the better the chances of the personal loan getting approved, provided the applicant fulfils the other eligibility criteria. Some banks and NBFCs may consider personal loan applications with a lower credit score and approve them on …

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Personal Loan: 10 common mistakes to avoid before you apply
1 month ago

Personal Loan: 10 common mistakes to avoid before you apply

Live Mint  

With the advent of digitisation, getting a personal loan is at your fingertips. Personal loan mistakes to avoid Taking a personal loan even when you don’t need it: From time to time, you will keep getting pre-approved personal loan offers from various banks, NBFCs, and fintechs. Minimum credit score List of cities whose residents can apply Before applying for a …

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Rejected for a personal loan or credit card? 5 reasons your application might fail
1 month, 1 week ago

Rejected for a personal loan or credit card? 5 reasons your application might fail

Live Mint  

Your credit score is a report card of your credit history and creditworthiness. Banks and NBFCs consider 750 and above a good credit score for approving credit card and personal loan applications. Factors considered for approving credit applications apart from credit score Some of the reasons why your credit card or personal loan may be rejected even after having a …

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Credit Cards: Top 10 credit score myths that are hurting your financial health
1 month, 1 week ago

Credit Cards: Top 10 credit score myths that are hurting your financial health

Live Mint  

It is important for an individual to build and maintain a good credit score. A good credit score helps them get credit cards and loans essential to fulfil important financial goals. Using the entire credit card limit doesn’t impact your credit score as long as you repay on time The credit utilisation ratio is one of the factors CICs consider …

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Personal Loan: How does your DTI ratio affect your chances of getting a loan?
1 month, 1 week ago

Personal Loan: How does your DTI ratio affect your chances of getting a loan?

Live Mint  

When you apply for a personal loan, the bank or NBFC considers various factors for loan approval. Some banks may consider a DTI ratio of up to 40 – 45% range and still approve the personal loan application. A higher DTI ratio impacts your personal loan application in the following ways: If the DTI ratio is above a specified percentage, …

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Considering a second personal loan? Here are the challenges and alternative solutions
6 months, 2 weeks ago

Considering a second personal loan? Here are the challenges and alternative solutions

Live Mint  

Anytime can be an unexpected time for financial events to happen, even after you’ve taken out a personal loan. Even if you meet the minimum qualifying standards, getting a second personal loan could be more difficult if: You already have a significant debt burden. Challenges in getting a second loan While applying for a second personal loan, you must be …

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Want a personal loan at lower interest rate? Here are 7 key strategies to follow
6 months, 3 weeks ago

Want a personal loan at lower interest rate? Here are 7 key strategies to follow

Live Mint  

Demonstrating your dependability as a borrower is essential to obtaining a personal loan with low interest rates. Best Personal Loan for you at lowest interest rate Instant Apply Pay attention to your credit utilisation ratio, which represents the portion of your credit limit that you are using. Especially if your credit score isn't the best, using a co-signer can help …

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Applying for personal loan for home renovation? Here are the key things to keep in mind
9 months, 2 weeks ago

Applying for personal loan for home renovation? Here are the key things to keep in mind

Live Mint  

Engaging in home renovations involves substantial financial commitments, and a lack of preparation can undoubtedly result in setbacks. Alternatively, opt for a personal loan if you lack substantial home equity or prefer a more straightforward loan arrangement, although personal loans often come with higher interest rates. Although personal loans offer convenience for funding home improvements, opting for a short repayment …

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Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind
9 months, 2 weeks ago

Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind

Live Mint  

The particular prerequisites for applying for a personal loan may slightly vary depending on the lender. Best Personal Loan for you at lowest interest rate Instant Apply Documents required for personal loan Identity verification : This may involve providing documents such as your Aadhaar card, PAN card, passport, or Voter ID. Credit history: Although a positive credit score is preferable, …

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Banks crack down on high debt-to-income home loans as regulator APRA comes knocking
2 years, 6 months ago

Banks crack down on high debt-to-income home loans as regulator APRA comes knocking

ABC  

Two of Australia's biggest banks have moved to curb high-risk home lending, as the regulator revealed it has been warning some institutions to cut back on risky loans. Key points: APRA's boss revealed the regulator has contacted some banks about a surge in risky high debt-to-income loans ANZ and NAB have recently imposed new, lower caps on such loans The …

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Australian house prices 'rolling over' as rising interest rates, affordability bite, warns ANZ
3 years, 1 month ago

Australian house prices 'rolling over' as rising interest rates, affordability bite, warns ANZ

ABC  

ANZ bank has tipped house price falls the year after next as the pandemic boom in Australian housing comes to an end. Key points: ANZ tips housing prices will rise 21 per cent this year, 6 per cent next and fall 4 per cent in 2023 The bank says more homes on the market for sale, reduced affordability and rising …

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