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A credit score is a statistical number that evaluates the creditworthiness of an investor or consumer. It is based on the person’s credit history. Today, lenders focus on creditworthiness to measure the likelihood that a person will pay off his debts. A person’s credit score can range from 300 to 900, and the higher the …
There are several steps in planning for retirement, and the ultimate goal is to have enough money to stop working and do whatever you want. Our goal with this retirement planning guide is to help you achieve that goal. Step 1: Know when to start planning for retirement When should you start planning for retirement? …
There may be a time in your life when you took a break between jobs, wanted to start over, or were hoping to start your own business. During these stages, people control their spending. However, there are times when you may need cash right away. You can always apply for a personal loan for such …
Owning a home is a cherished dream that we all cherish. A home is a great investment that gives us a sense of financial security and a permanent roof over our heads. However, buying a home in today’s financial climate is not easy. Most people rely on home loans to make this dream come true. …
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As with any form of a loan, an advance can affect your credit rating. A cash advance from a credit card does not show up as a separate item on your credit report, but it can affect your creditworthiness if your credit usage exceeds 30.% Credit utilization is the amount of debt you currently have …
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Personal loans are serviced by individuals and are used for a variety of purposes, from renovating your home to international vacations and debt consolidation. They are generally uninsured, which means they do not have to give a guarantee, making them an attractive option for customers. However, the risk to lenders is higher, and therefore interest …
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Most banks and NBFCs offer unsecured business loans where the borrower is not supposed to provide any collateral or guarantee. However, it becomes difficult for some borrowers because few financial institutions require collateral in the form of goods, commodities, stocks, machinery, or equipment for certain loans related to business operations. Borrowers prefer an unsecured business …
Mutual funds are increasingly accepted by various investors in India because of their lightness and their performance. This financial instrument is suitable for all types of investors, small, medium or large because it can use the Systematic Investment Plan (SIP) to invest in mutual funds of an amount between 500 and an infinite monthly and …