The Reserve Bank of India (RBI) recently instructed banks and credit information companies (CICs) to update the credit information they collect at shorter intervals, i.e. once a fortnight rather than once a…
Tag: credit score
How to protect your credit score? 4 experts answer
In the hurly burly of daily life, we sometimes tend to overlook the essentials; like maintaining your credit score. A decision that may come back to haunt us in the future. Maintaining…
Personal loan: Don’t wing it! Craft a winning strategy with dos and don’ts
Personal loans have emerged as one of the fastest growing segments for banks. With abundant liquidity, banks are chasing customers with attractive offers on these loans. Banks provide personal loans based on…
Ensure financial stability before opting for zero-interest EMIs, says Raj Khosla
A lot of millennials and Gen Zs take loans to fund their weddings. What’s your view on that? What are some of the things that they should keep in mind before taking…
What exactly is the credit utilisation ratio and how does it work?
What is the credit utilisation ratio? The credit utilisation ratio measures the amount of credit an individual utilises from the credit limit available to them. For example, an individual has a credit…
How can a personal loan help improve your credit utilisation ratio?
Personal loans can indirectly improve your credit utilisation ratio. Although they are not included in the utilisation ratio since they are installment loans, they can be used to pay down revolving debt,…
Can you improve your CIBIL score in a month?
Improving your CIBIL score, or any credit score for that matter, typically takes time and consistent financial behaviour. While it’s challenging to make significant improvements in just one month, there are still…
How to educate your children about CIBIL score?
Children should be taught about responsible financial behaviour, which also includes the concepts relating to credit score, also known as CIBIL score. While teaching children about money matters, you should emphasise the…
How do savings and investments impact your CIBIL score?
CIBIL score is a key factor that banks consider at the time of evaluating an individual’s creditworthiness. While savings and investments themselves do not directly impact your CIBIL score, they indirectly affect…
How does your employment status influence your CIBIL score?
Being rich is no guarantee of a high CIBIL score. And being not-so-rich does not imply a poor credit score either. Likewise, being employed in a multinational corporation (MNC) doesn’t mean your…