The Vibe Journal: Finance Blogs

Are you considering opting for a personal loan pre-closure? Repaying your loan before the tenure ends is a great and popular way to save on the interest. However, it is a decision you must make after careful consideration to ensure you get the maximum benefits. This is because you may have to pay penalties and …

Involving a loan guarantor when applying for credit is a smart decision to increase your approval chances. One of the most essential criteria lenders consider while assessing your loan eligibility is your credit score. If you have a low score or your previous experience at handling credit hasn’t been fruitful, you may find it difficult …

When opting out of the old tax regime, you may have many doubts, like ‘Is standard deduction applicable in the new tax regime?’ While the Interim Budget of 2024 did not propose any changes to taxation, the 2023 Union Budget eliminated multiple exemptions under the new tax regime.  However, there are certain deductions and exemptions …

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 …