The Vibe Journal: Finance Blogs

To understand taxation in India, you need to know what is a direct tax and an indirect tax. Here are a few essential points: You need to pay direct tax to the government based on the income or profits you earn Contrary to this, you’ll pay indirect tax only if you purchase any good or …

An instalment loan is the most common type of credit that banks and NBFCs offer. Once you borrow a required sum, you need to repay the amount along with interest in affordable instalments within a specific timeline.  You can use the borrowed amount for the following purposes: To pay educational expenses To clear hospital bills …

Wondering, ‘Can I get a personal loan without ITR? Yes. Most lenders require self-employed applicants to submit their income tax returns to review their income and repayment capacity. However, some use alternative methods for this assessment, making loans accessible even when you don’t have your tax filing records.  Read on to learn how to get …

When there is a non-repayment of loan EMIs beyond a stipulated timeline, lenders can take necessary actions as per the RBI guidelines for loan recovery. This helps in enforcing fair practices in loan recovery and protecting the interests of borrowers and lenders alike. To know more about this concept, read on.  Loan Recovery Process Now …

‘Can I buy a car in cash?’ This is one of the most common questions that pops up when you decide to purchase a vehicle. On second thought, if you are wondering whether you should opt for a personal loan for cars rather than paying it entirely by cash, there are several things you need …

Understanding the importance of credit rating is the first step towards being smart in your credit journey. For any type of credit, financial institutions will check your credit score to evaluate your application.   This is because it gives them accurate information about your credit behaviour and ability to handle different types of credit. This, in …

Leveraging the limits of the traditional credit system, Peer2Peer lending has become popular across the country in recent times. It is a system where: People borrow within the communities to meet their financial requirements There is no involvement of an official financial institution  To know more about this new lending system, how it works, the …

Want to get a personal loan with a CIBIL score of 650? It’s definitely doable when you: Meet all the terms of eligibility set by the lender Show you have a stable income  Apply with an NBFC that has less stringent requirements There is no doubt that a score of 750 or more will help …

Knowing what is IMPS (Immediate Payment Service) beforehand makes it easier to execute hassle-free fund transfers from the comfort of your home. With the rising popularity of electronic banking, IMPS stands out due to its real-time transfer capabilities. In addition, you can use this option to execute interbank transactions through multiple channels.  Read on to …

Want to find out about the punishment for non-payment of personal loans in India? Being practical, you may be aware that even the most disciplined person may face a financial crunch. This may lead to missing a few EMIs. What happens next? Whether you want to take a loan now or later, you must know …