For such financial products, one should be aware of the terms and conditions
You must have received SMS’s from banks saying “Your preapproved limit for debit card EMI-loan is Rs. 80,000. Avail and get free amazon voucher of Rs. 1000.” As exciting such offers may sound, pre-approved financial products or pre-qualified loans are not very uncommon today.
Simply put, a pre-approved loan is an offer for a loan based on your credit worthiness. Banks provide such loans to potential borrowers, based on fulfillment of certain pre-determined terms and conditions. The loans can be either secured, such as home loans, auto loans, or unsecured, such as personal loans and credit card loans. Even before you are made an offer, the bank has already assessed your financial standing and ability to repay the loan based on any previous loan you may have taken or on your creditcard management skills. If you have good financial credibility, you are eligible for such offers.
This is typically done when information about the customer is available with the lender before-hand. “This could happen on account of the customer having a direct existing relationship with the lender (Liability/ Asset Relationship) or if the customer is a part of the pool of customers of a partner to the lender (Indirect Relationship),” explained Anshul Swami, Head, Retail, Inclusion and Rural Products, RBL Bank.
هذه القصة مأخوذة من طبعة April 2019 من Outlook Money.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة April 2019 من Outlook Money.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Here's How To Claim Tax Refund If You Missed The ITR Deadline
The Income-tax Act, 1961, allows the refund of any excess income tax deducted on your income beyond your actual tax liability.
26 Spiels You Should Not Fall For
We have a list of 26 traps that you should avoid in your journey to creating wealth
Unified Pension Scheme
The Union Cabinet approved the Unified Pension Scheme (UPS) on August 24, 2024, guaranteeing 50 per cent of the salary as assured pension for central government employees.
Unlocking Financial Freedom with Freedom SIP: A Beginner's Guide
Freedom SIP is the smartest way to finance your retirement because it allows you to ride the compounding rocket to build wealth, even by investing a small monthly sum.
Asset Allocation Strategy to Safeguard Against Market Fluctuations
Invest in different asset classes, such as equities, debt, gold, etc., so that if a particular segment doesn't perform in a given situation, others will come to the rescue.
The Role of Asset Allocation in Investing
A proper mix of asset allocation that aligns with investor's goals is key to the portfolio's long-term performance and reaching milestones.
Why Retirement Planning is Crucial in Life
Retirement planning is the key if you want a financially secure life in your sunset years.
IS SENIOR HOUSING FOR YOU?
Many seniors have taken refuge in senior living facilities in their twilight years as their children have moved abroad. While that may help them ward off boredom, they often come at a huge cost
WITH OR WITHOUT INDEXATION: WHEN DO HOMEOWNERS PAY LESS?
Calculating taxes under both methods-considering inflation and property appreciation-can yield a more precise result
Flexing Its Way Across Market Cycles
Very few funds meet investors' expectations of delivering superior returns across market cycles, and HDFC Flexi Cap Fund is one of them.
