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Nowadays, applying for a loan is as easy as blowing a candle from a cake unless and until if you have a good credit score. However, credit score is a key factor for getting approved for any loan but there are some other factors also which are really important to get a loan for handling any financial crunch. In this blog post, we have listed down some of those factors which are required to be on track before you " Apply For Loan " rather than a good credit score. Debt to income ratio: Besides your credit report, your income and debts acquired by you plays a great role to get an access to any kind of loan. Lenders look out for your debt to income ratio to measure the bridge between your monthly income and debt obligations. If this ratio rises the level of 40% of your gross income then lenders won’t lend you money for your needs as you are declared to be overburdened with debt and a new loan make your financial situation worse. Professional history: Apart from CIBIL and debt ...

One might have come across multiple financial advices in the course of time from parents, friends and family. However, some pieces of the advice are useful but you don’t agree to do certain things as you feel too lazy to do so. There are few of personal finance myths also which are needed to be debugged as they can bring lots of positive changes in your financial life. In this article, we have mentioned some financial myths that one should not believe to grow financially. Huge money to invest: It is one of the most common financial myths believed by majority of individuals as youngsters think they just started their career and not earning enough to afford an investment but it is simply a month because investment can also be started with smaller amount. The smaller investments always yield great returns if started early and help to save your taxes. An emergency fund is not important:   It is another financial myth that can land you in troubles in the future. Setting an emergency fu...

When someone starts earning, it will give them an immense pleasure. However, when we start, we try to save as much money as possible and sometimes switch the job with hike in salary but now you are unable to save more than you used to in previous job. Most of the times, some people get surprised that they could save 15,000 rupees when the salary was 40,000 but post a year when they start earning 50,00, they can’t even save more than 10,000 rupees. Does this happen to you also? We have marked some of the reasons so you can understand where your savings are going and how your financial planning is going wrong: Luxurious lifestyle: One must admit that sometimes they feel like purchasing the latest mobile handset, branded shoes and clothes etc. If you have limited earning, it is almost impossible to fulfill all your desires but to fulfill these wishes; you may end up taking a financial aid through credit card or by taking any personal loan. Here’s your financial plan goes wrong as you hav...