The Vibe Journal: Finance Blogs

Credit derivatives are a type of financial contract that helps parties minimise their credit risk. Two parties hold these negotiable bilateral contracts privately and trade them over the counter.  In credit derivatives, creditors can transfer the credit risk of a debtor to a third party. In exchange for taking the credit risk, the third party …

The importance of understanding the difference between NACH and ECS is growing as the nation moves towards digital payments. Among the many modes of electronic transfers, these are two of the most popular options. Many companies, banks, financial institutions and merchants use ECS and NACH to receive and make payments. These options also allow automatic …

You can easily transfer EPF online on the EPFO portal, which you may need to do if you switch jobs. If required, your employer will register you on the Employees Provident Fund Organisation (EPFO) portal. As per the regulations, both you and the employer contribute to your account to build a corpus for retirement.  While …

Filing a provident fund claim online can help in the partial or complete withdrawal of funds, allowing you to manage unexpected financial needs or planned expenses. The Employee Provident Fund (EPF) is a savings scheme initiated by the Central Government, where you and your employer make equal contributions, which helps you build a sizeable corpus …

A non-performing asset meaning states that a borrower has taken a loan and fails to repay the EMI on time. While lenders are lenient if you miss one or two EMIs, NPA can have some serious consequences for the borrower. The borrower can face a decreased credit score and lowered creditworthiness. On the other hand, …

Credit review or appraisal is an essential part of your loan approval process. To understand why it is done, think from the lender’s point of view. Lending is associated with the risk of late repayment or non-payment. To minimise this risk, lenders conduct a review to ensure they offer financial assistance to trustworthy borrowers who …

After closing the loan, acquiring a loan closure certificate or a No Objection Certificate (NOC) is essential. It helps prove that you have successfully repaid the loan. Keep in mind that your borrowing journey does not end when you repay. There are some legal formalities that you need to complete after successful repayment, too. One …

A balance transfer in a personal loan is an excellent option to manage your repayment and even save on interest. This facility allows you to transfer your loan balance from one lender to another, which is a feasible solution when a new lender offers a better interest rate than your current one. However, to make …

Unified Mobile Application for New-age Governance (UMANG) allows you to complete an EPF balance check easily. On this platform, you can access details about various central and state government services in 13 different languages. In addition to this, you can conduct an EPF enquiry through the official Employees’ Provident Fund Organisation website. Other options include …

Pre-approved credit cards offer instant credit, which helps the cardholder efficiently manage unplanned expenses. You can get these cards from the issuer when you meet certain eligibility terms. This way, you can get the required credit without waiting for approval. While getting such an offer may sound exciting, assessing the pros and cons before opting …