CREDIT SCORE
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 42%
The correction in the broader market indices might make you look at your portfolio and ponder the decisions made in the recent days. Of course, if the Nifty and Sensex rebound tomorrow, the rethinking will once again be consigned to the back burner. So before investing in times when valuations are not on your side but sentiment is pushing you to put fresh money in stocks, take a look at the underlying businesses. On our list today are stocks that have witnessed a continuous rise in their score in the last one month. These stocks depict a strong upward trajectory in their overall average score. This is based on five key pillars – earnings, fundamentals, relative valuation, risk, and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Choosing the right instant loan app: Key features to consider
Selecting the right instant loan app is crucial for an easy, quick, and convenient borrowing experience. Consider features like ease of application, loan eligibility, interest rates, fees, repayment options, security, fast disbursement, customer support, and app reviews. Bajaj Finserv’s app is highlighted as a reliable option that meets these criteria.
Axis Bank issues over 1 million credit cards in Q2 FY25 as trend picks up with festive season
Axis Bank became the fourth largest credit card issuer in Q2 FY25, with a 14% increase in Cards in Force. Credit card transactions surged, especially in lifestyle, fashion, and electronics. However, millennial defaults are rising, with outstanding debt reaching substantial highs.
Paisabazaar expands into brick-and-mortar to boost secured lending
Following its sister firm Policybazaar’s playbook, digital credit marketplace Paisabazaar, a part of listed PB Fintech, is building its own offline distribution channel. Naveen Kukreja, chief executive officer of Paisabazaar, told us that the company has set up a field team of around 100 people in Delhi, Mumbai, and Bengaluru.
Credit card usage sees a big jump this festive season
During this year's festive season sales, there was a significant rise in the usage of credit cards and credit-based payment instruments such as pay-later products, with a recorded increase of 35-50% in transactions compared to the previous year, particularly in lifestyle, fashion, and electronics.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 33%
Although the Nifty and Sensex have witnessed corrections in the recent past, the broader markets are still very much under the control of the bulls. As the bullish sentiment is expected to continue, you too can be bullish. But remember: What matters in the long term are earnings and valuations. So be selective, avoid impulsive investing, and keep reviewing your portfolio. Also: Stay away from penny stocks. Some of these may fly for a while – and retail investors will be left holding them. On our list today are stocks that have witnessed a continuous rise in their score in the last one month. These stocks depict a strong upward trajectory in their overall average score. This is based on five key pillars – earnings, fundamentals, relative valuation, risk, and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
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Latest car loan interest rates October 2024: Check which bank is offering lowest car loan interest rates this festive season
Latest car loan interest rates: The interest rates on auto loans depend on various factors, including your income, debt, credit score, car value, loan amount, loan duration, and the RBI repo rate.
India's credit card losses spike for millennials’ swipe-spend-default habit
Credit card defaults among young millennials have increased, driven by BNPL schemes and e-commerce purchases on EMIs. Credit card outstanding dues have risen significantly, with net credit losses reported at 5-6%. The RBI's measures to curb unsecured loans are showing results, slowing down credit growth in these segments.
Credit card dues and defaulters on the rise
Credit card dues and defaulters are rising, with defaulters reaching 1.8% in June. Outstanding credit card debt has grown significantly, stressing the unsecured lending segment. Young millennials are heavily using credit limits and defaulting without revolving loans. The RBI's proactive measures have helped reduce credit growth in unsecured segments.
Credit card defaults on the rise; what is the punishment for credit card default
Credit card defaults: The amount of credit card payments that are overdue has been consistently rising, suggesting that borrowers are encountering greater financial challenges. TransUnion Cibil data shows that credit card defaults increased to 1.8% in June 2024 from 1.7% six months prior and 1.6% in March 2023. Despite the seemingly small percentage increase, the overall sum of unpaid credit card balances has notably expanded.
Share of borrowers rated Prime+ on rise, shows TransUnion CIBIL data
Data from TransUnion CIBIL indicates an improvement in credit culture, with the share of prime-rated borrowers rising to 55% by June 2024. However, retail credit growth has moderated as banks and NBFCs tighten credit supply. Home loans and credit cards saw significant contractions, while personal loans grew modestly.
Credit culture strengthens: Rise in prime borrowers despite moderate retail credit growth, says Transunion Cibil
The share of prime-rated individual borrowers in India has increased, indicating an improvement in credit culture, according to TransUnion CIBIL. However, retail credit growth and new borrowers have grown at a moderate pace. Banks and NBFCs have tightened credit supply, especially for consumption-led products like credit cards and personal loans.
Home loans for properties above Rs 75 lakh surge in four years; check which bank is offering cheapest home loan interest rate
In line with a recent Knight Frank report, the market's steadiness is apparent in the rising volume of mortgage applications for homes, which currently constitute a substantial share of India's housing sales, surpassing Rs 1 crore and representing 41%. This information indicates that the upsurge in sales is not merely a momentary event but rather a continual trend.
Top 5 same day Payday loans online bad credit & no credit check in USA
The article discusses same day loans, highlighting their appeal for quick cash needs. It explains that these loans offer fast application processes and quick feedback, usually within 24-48 hours. The article reviews top providers like Big Buck Loans, Green Dollar Loans, and others, detailing their eligibility criteria, pros, cons, and APR ranges.
Latest car loan interest rates August 2024: Check which bank is offering lowest car interest rates
Latest car loan interest rates: Before selecting a bank for a car loan, make sure to compare the interest rates offered by different banks. The interest rates for a car loan with an EMI (Rs) of Rs 5 lakh and a tenure of 5 years are provided below.
Latest gold loan interest rates August 2024: Banks offering cheapest interest rates on gold loans
When you apply for a gold loan, the only requirement is that you must have gold—coins, jewelry, etc.—in your possession. Even if you have a bad credit score, you can still get the loan
Your CIBIL score will be updated faster as credit information companies will now get fortnightly reports from lenders, says RBI
CIBIL score: Now credit information companies like TransUnion CIBIL, etc will get credit information report from lenders on a fortnightly basis. RBI Governor said that this will help borrowers as now they will get faster updates in their credit information report. Moreover this will also help lenders too. Read below to know more.
Home loan interest rates August 2024: Banks offering cheapest home loan interest rates for amounts above Rs 75 lakh
Several factors are considered by lenders when deciding the interest rate of your home loan, such as your credit score, loan amount, LTV ratio, job, and type of interest rate. Choose a lender who offers a competitive interest rate because a home loan is a long-term financial commitment.
From Data to Dollars: How AI enhances credit decisioning for MSMEs
Artificial intelligence (AI) is poised to transform credit decisioning, by enabling lenders to start lending to broader segments of MSMEs while suitably protecting them from a credit risk perspective.
Step-by-step process for a home loan balance transfer
Transfer your home loan wisely by comparing offers, verifying eligibility, submitting required documents, negotiating terms, and finalizing the balance transfer for reduced EMIs and long-term savings.
CIBIL score dropped due to bank's fault: Doctor won the legal battle with Rs 2.6 lakh as damages after 7 years, lessons you can learn from this
CIBIL score: A doctor had
AMEX credit card issued by a bank with credit limit of Rs 3.25 lakh. However his bank reported him as a defaulter and thus his CIBIL score dropped by a big margin This happened despite the doctor paying the bank by personally handing over a cheque with number 69131. However ICICI Bank, Vadodara branch stepped in to help solve this case.
The ‘buy now, pay later’ option is like a disease: Satish Mehta, Athena CredXpert
"A credit card is the most expensive piece of plastic in the world. You are charged 40% interest if you don’t pay on time. You would think it’s fine to pay 5% minimum due balance, but they still charge an interest on the outstanding amount. One should avoid treating credit cards like money in pocket," says Satish Mehta, Founder, Athena CredXpert.
Best Credit Card: What are the factors to consider while getting one?
There are many factors that influence the applicant who seeks to purchase a credit card. A detailed study would be necessary before applying for a credit card. Consider different factors and choose the best option.
CIBIL or credit score drop can cost you Rs 19 lakh more on a Rs 50 lakh home loan; 4 ways to avoid it
Many social media users are reporting sudden credit score dips. Erroneous transactions, lender misreporting, and late credit card or BNPL payments, over-utilisation of credit limits are some culprits. If you have a poor credit score or CIBIL score, you'll have pay to a few lakhs extra for any big-ticket loan such as a home loan. It pays to be aware of why credit scores drop suddenly and how it can impact your life. ET Wealth Online speaks to various experts to decode how to maintain a healthy credit score or CIBIL score.
Top features of personal loans and the factors to consider before getting one
All you need to know about personal loans and what you should keep in mind before opting for one.
Car loan interest rates for May 2024: Latest car loan interest rates of top 18 banks
Latest car loan interest rates: The EMIs you pay on the loan will vary significantly depending on the interest rate. You might be able to work out a better deal and get a cheaper interest rate if you have good credit. List of car loan interest rates offered by 18 banks in 2024.
Cheapest home loan interest rates for amounts above Rs 75 lakh: PSU banks vs private banks
Home loan interest rates vary with each individual based on factors such as credit score, income, tenure, Loan-to-Value ratio, MCLR, RLLR, etc. Private banks offer interest rates between 8.35% to 14.85% for home loans above Rs 75 lakh. Public sector banks also provide competitive rates.
SBI home loan concession offer extended to this date
The special campaign discount was earlier valid up to December 31, 2023. The discount is valid for all home loans, including those with flexipay, NRI, non-salaried, privilege, and Apon Ghar.
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