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How To Use A Short-Term Personal Loan To Improve Your Credit Score ?


personal loan to build credit scoreA credit score is a 3-digit number generated by credit information agencies such as CIBIL, CRIF ,Experian,Equifax etc ,based on which banks and NBFCs (Non Banking Financial Corporations, such as loan and insurance companies, co-operative banks, stock broking firms, etc.) evaluate a person’s creditworthiness ie their capacity and willingness to repay loans extended to them on time. Based on this assessment companies accept or reject loan applications.

The different credit score ranges and their grades are as follows –

credit score ranges Read more of this post

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Beware ATM Hacking


If like me, you are forced to increasingly use ATMs, and that too in areas with rampant card-fraud and cloning,as banks reduce working-hours,cut manpower and close down branches,do watch the video below and take the necessary precautions to keep your money safe.

Learning From Talal


 

Hire enthusiasm they say. And I always thought I had that lesson mastered. Afterall, I already find it hard to sit round instructing others on how to do things in a way that ensures that the work we turn out meets my standards of perfection, so why would I compound my own agony by hiring a person reluctant to work?

But then these days, the Arabs are teaching me a different way of seeing business. Much learning. Read more of this post

Financial Planning And Investment Planning


Financial Planning is the process of meeting one’s life goals through the proper management of personal finances.

Sound financial planning involves 6 steps :

1.Establishing short, medium and long term life goals.

2.Tabulating assets and liabilities.

3. An evaluation of the current financial position to assess the distance to goal achievement.

4.Developing a plan that shows the way for achieving different goals

5.Implementing this  financial plan

6.Monitoring and reviewing this financial plan at least yearly and making adjustments when needed. Read more of this post

The Life Savers Called Online FDs


wealthymattersThe one good think about fixed deposits is the absolute predictability of returns, as long as they are not closed prematurely. Add to this that unlike a lot of other fixed income instruments, fixed deposits are available for all tenures upto 10 years, and you can now use fixed deposits to design your own financial products.

The only drawback is the extremely low deposit insurance  in India.The Deposit Insurance and Credit Guarantee Corporation provides insurance to each customer of a Scheduled Bank for deposits up to Rs 1 lakh in case of  bank failure. This limit is applicable across all the deposits, including savings, current, fixed and recurring. This limit remains Rs 1 lakh even if the sum of all deposits (including accrued interest) exceeds the same. Worse, non-scheduled banks ,companies and other institutions offering fixed deposits don’t provide this small comfort either. Of of what use is predictability of returns if basic security and return of capital is not guaranteed ? Read more of this post

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