What You Should Know About Credit Score Calculation
Apnapaisa
by ApnaPaisa Admin
11M ago
Want to avail of a loan? Wondering if you are eligible for the loan? Take a look at your financial report card. Credit scores are an important aspect of personal finance. It is a numerical representation of your creditworthiness, or in other words, your ability to repay debt. It is a crucial factor that is used by lenders, landlords, and other financial institutions to determine your eligibility for credit and the terms of that credit. You must understand the factors that determine your credit score to manage your finances efficiently. What is a Credit Score? A credit score is a three-digit nu ..read more
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Loan Against Property or Home Loan : ApnaPaisa – India’s Largest Loan Distributor
Apnapaisa
by ApnaPaisa Admin
11M ago
Wondering what to choose to finance your housing needs? You can pick between home loans as well as loans against properties. A home loan is a type of loan where a lending firm finances your new home under the condition that you would be liable to pay back the monthly EMIs. If you avail of a loan against your property, it means that you have to keep your existing property as collateral to access funds that you can use for any personal or business purposes. In this article, we dig deep into the pros and cons of availing of home loans vs loans against properties to help you make an informed decis ..read more
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How to Avail Tax-Free Loan Against Property in 2023
Apnapaisa
by wilson.fernandes@apnapaisa.com
11M ago
Need a personal loan but do not have the required CIBIL score? Fret not, you can avail of a loan against your property. A loan against property (LAP) is a financing option that involves availing of a loan based on the market value of your existing mortgage. In other words, LAP is a type of secured loan that allows borrowers to use their property as collateral to obtain a loan from a lending firm. You can receive funds against any building, whether commercial or residential. When availing of a loan against your property, the loan amount sanctioned by the lender depends on the value of the prope ..read more
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6 Benefits of Opting for a Personal Loan Through Apnapaisa
Apnapaisa
by ApnaPaisa Admin
1y ago
In life, don’t we all face unexpected circumstances that need us to dip into our savings? What if we recommend a better solution to deal with your financial emergencies? Whether you want to pay for a medical emergency, finance your dream wedding, purchase a house, or need to fund your home renovations, you can avail of personal loans. It is a type of loan that does not require any collateral or security. Lending firms will sanction your loan amount, depending on your income, credit scores, and other factors. Why are Personal Loans Popular? Personal loans can be used for a variety of purposes ..read more
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9 types of short-term loans for your urgent financial needs
Apnapaisa
by ApnaPaisa Admin
1y ago
Short-term loans are a type of credit that is borrowed for a short period of time, usually less than a year. These loans are designed to help individuals and businesses meet their immediate financial needs. In India, there are several types of short-term loans available, each with its own unique features and benefits. In this blog post, we will discuss the different types of short-term loans, along with the pros and cons and eligibility criteria. A look at different short-term loans offered in India Payday loans Payday loans are a type of short-term loan that is designed to help individuals me ..read more
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5 Reasons to Apply for a Credit Card Via ApnaPaisa
Apnapaisa
by ApnaPaisa Admin
1y ago
Credit cards are a type of payment option that allows you to borrow money to make immediate purchases. When using a credit card, a borrower takes money from the credit card company and promises to repay the money with its due interest within the stipulated time period. There is a limit to the amount of money you can borrow from your credit card. Your credit card issuer determines this amount based on your credit score, income, and credit history. Credit cards are also accepted around the world, which makes them a popular choice to pay day-to-day expenses. Credit cards are a popular personal fi ..read more
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How Much Money Should I Pay for My Home Loan Down Payment?
Apnapaisa
by ApnaPaisa Admin
1y ago
When you avail of a home loan, you have to make a certain payment upfront to secure the funds. Wondering how much you should pay for your home loan down payment? Our research suggests that ideally, you should pay 20% or more of your total mortgage price upfront before availing of a home loan. There are several benefits of making a lump sum down payment. Lending institutions would be more likely to offer you lower interest rates, better repayment options, and lower EMIs if you are able to make a high down payment. How much money should you pay for your home loan down payment? The ideal amount f ..read more
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How Much Money Should I Spend on EMIs?
Apnapaisa
by ApnaPaisa Admin
1y ago
With the increasing trend of purchasing big-ticket items like houses or cars via EMIs, it is important to evaluate how much money one should allocate toward monthly settlements. Loans are a long-term commitment, especially home loans, and the repayment tenure can take up to 20 years. While the EMI payment system helps one make their dream purchases without paying a lump sum amount upfront, you must maintain a balance between your EMI payments, cost of living, and other expenses. What are EMIs? EMIs or Equated Monthly Installments are the amount of money a borrower pays the lender every month t ..read more
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Is it Important to Make a Deposit When Taking a Home Loan?
Apnapaisa
by ApnaPaisa Admin
1y ago
It is a popular misconception that when you avail of a home loan, the lending firms let you borrow the entire loan amount. It is not true, for lenders are allowed to finance only 80% of any property value of over INR 30 lakhs. You have to pay 20% of the remaining loan amount upfront to avail of the money. Hence, when planning to avail of a home loan, make sure to also plan your budget and expenses and save up to make a high down payment. You can use a home loan EMI calculator, available on platforms like ApnaPaisa to check if you are eligible to borrow your desired loan amount. You have to fil ..read more
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What is the Minimum Credit Score Required for Loans?
Apnapaisa
by ApnaPaisa Admin
1y ago
Want to apply for a loan? Wondering if you can repay your dues comfortably? A credit score is a three-digit number that reflects the repayment capacity of an individual. It ranges from 300 to 850, with higher scores indicating better creditworthiness. In other words, a credit score is like your financial grade card. Credit scores are an important component of the loan application process because they help lenders assess the risk of lending to a borrower. An excellent CIBIL score guarantees flexible loan terms and lower interest rates. Minimum credit score required for loans There is no ideal c ..read more
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