The Snowball vs Avalanche Method for Debt Repayment
Different debt payoff strategies exist, and avalanche and snowball methods are the most popular. These two debt payment methods have the same goal of finishing your debts; however, they take…
Visual representation of Impact of Loan Settlement on Your Credit Score, illustrating positive and negative impacts on financial health.
The Impact of Loan Settlement on Your Credit Score
Loan settlement is a big financial decision. It happens when a borrowers miss paying loan dues. This one-time payment is made to the lender when the borrower demonstrates his/her inability…
Man in suit interacting with AI and finance icons holographically displayed before him.
The Impact of AI on Financial Services and Lending
The financial sector is undergoing a complete revolution steered by the rapid growth of Artificial Intelligence, generative AI, machine learning, etc. The financial sector, including lending, is not only adopting…
A person in a suit touching a transparent screen with the words "best peer to peer lending" displayed.
Peer-to-Peer Lending for Businesses: Pros and Cons
Peer-to-peer lending platforms have been gaining much attention lately as a wonderful alternative to conventional financing options. This promising concept eliminates the need for banks and financial institutions while roping…
Stacks of coins with a car key on top and a toy car in the background, under "Best Interest Rate on a Car Loan"
How to Get the Best Interest Rate on a Car Loan
Whenever we apply for any loan, the first thought in our mind is to find a loan that charges a favourable interest rate. If you plan to take a car…
a measuring tape with the Borrowing capacity and how to determine it
How to Determine Your Borrowing Capacity?
Evaluating your borrowing power before taking a loan is imperative to prevent default and stressful repayments. The ‘borrowing capacity’ allows you to assess your income, spending, savings, assets, liabilities or…
Hand writing "IMPACT" with title "How RBI Regulations Impact Your Loan Process?" on paper.
How RBI Regulations Impact Your Loan Process?
The Banking Regulation Act 1949 allows the Reserve Bank of India to exercise statutory and other loan restrictions. According to this master circular, the central bank consolidates and issues instructions…
How to Pay Off Credit Card Debt Faster
Credit cards have become one of the most helpful financial tools that assist buyers in achieving their financial objectives. However, it is important to ensure that you pay your credit…
A loan application form with a 'REJECTED' stamp, alongside a pen, illustrating one of the common loan underwriting mistakes
How to Avoid Common Mistakes in Loan Underwriting
During a loan underwriting, the lender checks whether the borrower is fit for loan approval. The bank and financial institution make a judgment if the borrower has the capability of…
The Role of Technology in Loan Approval Process
The Role of Technology in Loan Approval Process
Traditionally, loan underwriting was a complex, lengthy, and multi-step process. Thanks to the technology, now it has become much faster, easier, and accessible for millions of borrowers. From handling thousands…