Author: Nisha Chawla

Financial emergencies come without warning; in such moments, quick money options like credit cards and personal loans become a significant support. Both options offer instant money without any need to give security or collateral. But they work very differently, and picking the wrong one may lead to high interest, extra charges, or even a debt trap. So, how do you decide whether to swipe your credit card or apply for a personal loan? Let’s understand both features and find out which suits your situation better. Credit Card and Personal Loan – Both Are Unsecured Loans but Serve Different Purposes A…

Settling a credit card bill can offer temporary relief but leave a lasting dent in your credit report. A credit card settlement usually indicates that you paid less than the total due, which is flagged as a negative mark by credit bureaus. This directly impacts your CIBIL score, making it harder to get new loans or credit cards in the future. But the good news is that your CIBIL score isn’t a permanent number. You can rebuild it—step by step—by adopting the right strategies and being consistent. With simple language and clear actions, let’s explore the most innovative ways to…

Credit cards offer convenience, rewards, and financial flexibility, but owning more than one requires an innovative and responsible approach. Many people apply for multiple credit cards, thinking it will increase their credit limit or help them earn more rewards. However, a second or third card can create more problems than benefits without proper planning. Before applying for another credit card, let us walk you through the most critical factors. Understanding how another card impacts your credit score, financial behaviour, and long-term goals is essential. Check If You Need Another Credit Card Before you apply, ask yourself why you want a…

Managing sudden financial needs can be stressful, especially when savings fall short. Whether it’s a medical emergency, marriage expense, or home repair, personal loans offer a helpful way out, especially for salaried employees. If you earn a regular income, banks and NBFCs (Non-Banking Financial Companies) prefer you as a customer due to stable income and low risk. With digital platforms, applying for a loan is now faster and more convenient than ever. Let’s break down everything you need to know about personal loans for salaried individuals—right from benefits and eligibility to interest rates and how to apply. Why Personal Loans…

In today’s fast-paced financial world, your PAN card is more than just a tax identity—it’s a key that links almost every financial transaction you make. Whether it’s applying for a credit card, personal loan, car loan, or even a mortgage, your PAN (Permanent Account Number) is the identifier lenders use to track your creditworthiness. It is essential to know how many loans are active against your PAN. If you’ve ever wondered, “How many active loans are linked to my PAN card?”—you’re not alone. This is one of the most common queries among borrowers, especially those managing multiple loans or suspecting…

Getting a bank loan is not just about having a good CIBIL score or stable income. One key factor banks check before approving your loan is the DTI ratio, which stands for Debt-to-Income ratio. Many people are unaware of how much this number matters in loan approvals. Even with a good income and a strong credit history, the Bank can reject your loan if your DTI is high. Let’s understand what DTI means, how it is calculated, and how to reduce it to improve your chances of getting a loan. What is the DTI Ratio, and Why It Matters? Debt…

Many Non-Resident Indians (NRIs) often need financial support in India for personal or business needs. One convenient option for them is taking a Loan Against Property (LAP) from an Indian bank. Among all, State Bank of India (SBI)—the country’s largest public sector bank—offers LAP services for NRIs under specific rules. While the process is similar to that for Indian residents, NRIs must meet certain additional conditions. Let’s explore how an NRI can apply for a LAP from SBI, what documents are needed, and what factors are checked by the bank before giving the loan. Who Can Apply for LAP as…

A personal loan is one of the most commonly used financial tools today. Personal loans provide quick access to funds without asking for any collateral, whether for a medical emergency, a dream wedding, home renovation, or consolidating debt. However, many often overlook the actual cost of a personal loan. Several components influence how much you pay back over time, from EMIs (Equated Monthly Instalments) to interest rates, processing fees, prepayment penalties, and more. This article details personal loan EMIs, shows you how much you would pay for a Rs. 5 lakh loan over 5 years, and helps you compare and…

In today’s fast-moving world, having a credit card is like having a second wallet. Whether shopping online, booking travel, or managing monthly expenses, a credit card gives you both convenience and flexibility. However, one common question many people have is, How soon can you get a credit card after applying? The answer depends on how you apply, your credit score, your documents, and whether you’ve been pre-approved. Let’s understand the entire process of applying for a credit card in India and how to avoid delays. Applying for a Credit Card in India: Two Main Ways When it comes to credit…

A personal loan is one of the most common financial decisions in today’s fast-paced world. Personal loans provide quick funds without collateral, Whether for a wedding, medical emergency, home renovation, or even a vacation. However, one critical decision that most borrowers face is whether to opt for a lower EMI or a shorter loan tenure. While this might seem like a simple choice, the impact of this decision affects your monthly budget, long-term savings, and even your credit profile. This article dives deep into personal loans, explains how loan tenure and EMI work, and helps you decide what makes better…