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EMI DEFAULTS
RBI allows gradual device restrictions for EMI defaults, eases recovery agent disclosure normsThe Reserve Bank of India will permit lenders to restrict devices bought on EMI financing. These restrictions will be gradual and only afte...- Where to buy a second-hand car in India: Online platforms vs local dealers vs classifiedsBuying a used car in India involves three main channels. Online platforms offer convenience and reduced risk for buyers. Local dealerships ...
- NRI credit cards: Rewards and lounge access aren’t everything, what more NRIs should know before getting an Indian credit cardFor Non-Resident Indians (NRIs), an Indian credit card offers significant benefits beyond convenience, including building a crucial CIBIL s...
- Can a bank seize your vehicle after EMI default? What borrowers need to knowFacing vehicle repossession in India? Understand your rights: lenders can't seize your vehicle after just one or two missed EMIs without du...
- India's consumption story coming back to life and the timing couldn't be better: Ashi AnandIndian consumers are set for a strong recovery. Falling interest rates and potential oil price drops are boosting confidence. Tax cuts are ...
- Think property makes you rich? These 5 facts tell a different storyAs per a 2017 RBI report, a typical middle-class Indian family puts 70-80% of its net worth into realty. No asset class would be considered...
- You'll always have mummy-papa bankAfter spending 46 years as a sadhu, an Indian man returned to his hometown, humbly requesting alms from his aging mother. This poignant mom...
- Missed your education loan EMI? Here's what your bank can legally do next; check your rights as a borrower
- Unified Lending Interface is a good start. Now comes the hard partIndia's new Unified Lending Interface, ULI, promises to fix credit access. However, its true impact depends on fintech companies.
- Harassed by loan recovery agents? Know your legal rights and 6 steps to fight backBorrowers struggling with debt often face harassment from recovery agents through abusive calls, threats, public shaming, and unauthorised ...
- Delinquency vs default: Know the difference and how they affect your credit score and borrowing abilityIf you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 1...
- 25-year-old earning ₹1L/month asked to take ₹92 lakh loan for parents’ property deal; family expects flat value to soar in 5 years; sparks debt trap concernsA 25-year-old earning ₹1 lakh a month has sparked debate online after revealing how his parents want him to become the primary borrower for...
- Can you get another loan if you’re already paying EMIs? Here’s the answerYour salary is just the start for loan approval. Lenders scrutinize your income after deducting all current EMIs. This remaining amount, me...
- Nine in ten borrowers clear EMIs within 90 days, yet lenders lose up to 70% without early intervention: Zavo surveyA study reveals most Indian loan defaults are preventable with timely borrower support. Lenders often lose significant value by not interve...
- Missed the EMI of your loan by 1 day? It can cost you more than you thinkMissing a loan payment, even for one day, can harm your credit score. This can lead to higher interest rates on future loans. Banks may als...
- What to do if you have defaulted on a home loanIn case the bank decides to name the borrowers as defaulters, it will then send a full and final 60 days’ notice under a law called SARFESI...
- Lost your job? Here's how you can rework your loan EMIsA borrower can restructure his loan EMI if he loses his job or suffers a pay cut.
- Finding it difficult to repay your home loan? Here's what to do to avoid a possible defaultGiven the size of the EMI, it is quite likely that you may land up in a situation where you may not be able to repay your home loan.
- Auction properties up for grabs in MumbaiIn Mumbai and its suburbs, according to Magicbricks data, an estimated 20,000 apartments and about 1000 homes are in the process of being n...
- Faced with defaults, buyers forced to pay EMIs for homes that won't be delivered anytime soonPeople who take loans to buy apartments must continue paying their EMIs, or their credit scores will take a hit.
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