The Vibe Journal: Finance Blogs

On assessing the key facts about a loan, you may find yourself wondering, ‘What is a moratorium period?’. Simply put, it is a facility for managing your repayment during tough times. It comes into play when you are unable to pay your EMIs and it can offer some respite. Here, you don’t have to pay …

Credit control is an essential part of the lending process, used by all financial institutions to mitigate the risk of extending credit. Under this strategy, financial institutions lend funds only to applicants with good credit behaviour and scores. Doing this helps them manage cash flow and the risk of default. To implement this strategy, lenders …

Do you know how the repo rate increase affects your personal finances? When you apply for a loan, lenders levy an interest rate. However, this isn’t a random number but a carefully calculated rate based on the prevailing repo rate and the institution’s policy. Here are some essential points that you need to know: What …

With many convenient options available, you can effortlessly make an online loan payment. This is because modern financial service providers allow you to manage your loan EMI online. As such, you can pay easily through multiple online options at your convenience. You can use a lender’s portal or third-party payment apps to conveniently: Knowing about …

A credit bureau plays the critical role of collecting and analysing the financial data needed to generate your credit report and score. This is the simplest answer to the question, “What is a credit bureau?”, and four bureaus are operating under the RBI’s guidelines.  These credit bureaus have different methods to calculate your score, and …

If you know how to find a CIBIL report and read it, you can easily assess your financial standing. When you download and read a credit report, it helps you understand your credit health and take the right steps to boost your creditworthiness. A CIBIL report is a detailed file of the account holders’ financial …

The APR vs APY comparison is quite interesting as it focuses on interest calculations for two varied instruments. While the APY focuses on the gains you earn as an investor, the APR relates to the cost of borrowing. However, this isn’t the only difference between APR and APY.  Read on for insights to compare the …

Knowing how to check active loans on a PAN card for free is crucial to safeguarding your finances. This simple act helps track your active loans and monitor your profile for any suspicious activity. Today, you can access credit with just your PAN and this has some implications. For one, getting a loan is quicker. …

Why do lenders need bank statements, you wonder? Well, these documents record your income and expenditure. So, lenders use them to check the stability of your earnings while ensuring that you have enough funds in your account to successfully repay the loan.  This evaluation affects your chances of approval as well as the amount you …

Knowing how to manage multiple loan accounts is not rocket science. Instead, it is about being disciplined and organised, both skills that financially independent adults need to inculcate.  With easier and quicker access to credit, having multiple loans and credit cards is very common. But if you are unable to keep up with repayment, you …