Does applying for a loan affect your credit score? When in need of financial assistance, applying for loans is a common approach. Whether it’s a personal loan, auto loan, or mortgage, borrowers often explore multiple lending options to find the best rates and terms. However, a common concern among borrowers is the potential impact that…
Your credit score is a three-digit number that reflects your creditworthiness. It is an essential factor in determining your loan options, interest rates, and terms. When you apply for a loan, lenders will review your credit score to assess the risk of lending you money. The higher your credit score, the better your loan options…
The amount of loan you can get on a 1 lakh salary depends on several factors such as your credit score, employment history, age, loan tenure, and the lender’s policies. Typically, lenders use a formula called the debt-to-income (DTI) ratio to determine the maximum loan amount you can qualify for. The DTI ratio is the…
Personal loans are a great way to meet financial needs that may arise unexpectedly. They can be used to cover expenses such as medical emergencies, home repairs, or even for financing a small business. However, not everyone may qualify for a personal loan. Here’s what you need to know about personal loan eligibility. Credit score…
In today’s digital age, online lending platforms and mobile apps have made it easier than ever to obtain personal loans. Many lenders now offer loans with minimal documentation requirements, which can be helpful for individuals who do not have all the necessary documents or who want to avoid the hassle of submitting extensive paperwork. However,…
Emergencies can happen at any time and often require immediate action. Whether it’s a medical emergency, a car breakdown, or unexpected bills, sometimes you need money urgently to deal with the situation. But what can you do if you don’t have the funds to cover the expense? Here are some ways to borrow money urgently…
