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C ovid-19 caused great turmoil in the personal and professional lives of the people.  They had to take a loan to fulfill their responsibilities and they got stuck in it badly.  Retail loan means loan taken by common people has reached the level of 40 lakh crore rupees.  With this, the NPA of banks (loans for which principal or interest is not repaid for 90 days) is also increasing.  The maximum risk of default is in education loans, but this problem is not present today.  Personal loans have the lowest risk, but the reason is moratorium. Highest loan home, portfolio of Rs 21,78,422 crore Let us see which loan burden is most on the common people.  According to the country's largest credit bureau CRIF High Mark, people have taken the maximum loan home of Rs 21,78,422 crore.  This figure is of 31 October 2020.  This was followed by personal loan (Rs 5,36,035 crore), auto loan (4,26,506 crore), gold loan (3,37,860 crore), credit card (1,62,003 crore),...

The government has chosen 4 government banks to form private banks.  Of this, 3 banks are small.  There is a big bank.  The three small banks are Bank of Maharashtra, Indian Overseas Bank and Central Bank.  While the big bank is - Bank of India.  It will take 5-6 months to start the process of privatization. The government had said to sell a share in 2 banks in the  budget, the government had  said to sell a share in 2 banks in the  budget, but the Modi government is in favor of running only a few big state-run banks in the country.  The major public sector banks in the country are State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda and Canara Bank.  Out of the total 23 state-owned banks, several banks have been merged with larger banks.  It also includes Dena Bank, Corporation Bank, Allahabad Bank and Syndicate Bank. However, political parties have been spared from making public sector banks into private banks, as...

People usually take personal loans when they need money.  But getting this loan is also not easy.  Banks or non-banking financial companies (NBFCs) take into consideration many things about an applicant before lending to any person.  If none of these are correct then your application may be rejected.  We are telling you about 5 such things on which your loan approval depends. CIBIL score must be good CIBIL score shows the credit history of a person.  In the case of personal loans, the banks definitely check the applicant's CIBIL score.  The credit score is determined by several specific credit profiling companies.  In this, it is seen that you have taken a loan before or have used credit card etc.  The credit score of any person is reflected in the repayment history, the ratio of credit usage, the timely payment of existing loans and bills.  This score is in the range of 300-900, but the score of 700 or more is considered by the lenders to be...

CIBIL Score in India is a three digit number. CIBIL score range lies between 300 to 900, which signifies the creditworthiness of an individual based on his credit profile and past repayment track record. All four credit scoring agencies in India; CIBIL, Experian, Equifax and Highmark use their proprietary calculations and algorithms to estimate your best credit score. Banks check CIBIL score before taking a decision to sanction you a loan. Hence, a Good CIBIL Score is one of the most important factors that can help you get the best loan at cheapest rates. What is CIBIL Score? There is no good or bad score. Lenders tend to be little apprehensive in granting loans to borrowers with scores less than 700 for secured loans such as home loans. Banks in India tend to target customers with CIBIL score more than 750 or above for unsecured loans like personal loans. Get an estimated impact of CIBIL score range from 300 to 900 on your credit health. CIBIL Score Range What It May Mean For Your Cre...

To make affordable housing accessible, the   State Bank of India   has waived the processing fee on   home loans   till 31 March, 2021.  On average, the bank onboards around 1,000 home loan customers per day, it said SBI has issued nearly two lakh home loans under Pradhan Mantri Awas Yojana (PMAY) till December 2020 The top lender offers home loans at interest rate starting as low as 6.80% per annum. India's top lender provides a host of various home loans for the customers — regular home loan plans, SBI Privilege Home Loan for government employees, SBI Shaurya Home Loan for army and defense personnel.  SBI MaxGain Home Loan, SBI Smart Home, Top-up Loan for existing customers, SBI NRI Home Loan, SBI FlexiPay Home Loan for a loan of the higher amount and SBI HerGhar Home Loan for women. New customers can get all information on home loans by giving a missed call on 7208933140, the bank said. Ad “Even though it might constitute just a small portion of the loan...

  Mortgage loans are perceived as one of the safest asset categories by banks not only because of the underlying security but because borrowers understand the consequence of non-repayment that results in losing one’s home.    Indian Banking on an expected uptick in economic activity and an aspirational young  population, State Bank of India (SBI) the country's largest lender, wants to double  its  home loan portfolio to Rs10 trillion over the next five years. Dinesh Khara, chairman, SBI, told reporters on Wednesday that the lender's home loans, a segment it dominates with a 33% market share, has touched Rs5 trillion. The portfolio stood at  ₹ 4.84 trillion as on 31 December, and accounted for 23% of the bank’s domestic loans. “When it comes to home loan demand, it is a function of the economy and the demographics. You would have observed there is a definite change in the demographic and the younger generation is looking to acquire homes ...