Finance News — Page 36

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8 articles

Your EMI Is About to Drop — RBI Just Did Something Big

🏛️ RBI Policy

211d ago

💰

₹8,000 saved

That's how much you save on a ₹5L loan if rates drop 0.5% — enough for a family vacation!

Your EMI Is About to Drop — RBI Just Did Something Big

🤯 A 0.5% drop in interest rate on a 5 lakh loan saves you roughly 8,000 over 3 years....

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📋 TL;DR

Bond yields in India are trending downward as RBI signals easier liquidity. When bond yields fall, banks borrow cheaper and often pass savings to you as lower personal loan interest rates. If you are planning to take a loan, this trend works in your favour.

📰 What Happened

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If you have been waiting for the right time to take a <a href="https://gocredit.

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So why does this matter to you as a borrower?

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The Reserve Bank of India played a key role in this shift by promising to reduce the liquidity deficit in the banking system.

🎯 What You Should Do

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RBI is pumping more money into banks, making it cheaper for them to lend to you

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Personal loan interest rates could drop in the coming months — good time to compare offers

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Check your credit score now — a score above 750 gets you the best rates when they drop

💡 Pro Tip

Pro Tip: Before applying for any loan, check your <a href="https://gocredit.money/cibil-score" class="text-primary font-semibold...

RBI rules change your EMI — check your current rate

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70% Loan Rejections Happen for THIS Reason — Are You Making the Same Mistake?

💰 Tax & Budget

211d ago

📉

70% rejections

7 out of 10 self-employed loan rejections happen due to incomplete tax filings — not low income. File your ITR today!

70% Loan Rejections Happen for THIS Reason — Are You Making the Same Mistake?

🤯 70% of personal loan rejections for self-employed Indians happen because of incomplete...

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📋 TL;DR

The government is restructuring its tax system to make GST smoother. For salaried people and small business owners, cleaner tax records mean easier loan approvals. Banks now check your ITR and GST filings closely — keeping them updated helps you borrow faster.

📰 What Happened

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The Indian government has announced a major restructuring of the country's tax administration system, with a key focus on overhauling the Central Board of Excise and Customs (CBEC).

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For salaried individuals and small business owners, this shift in tax structure is more than just policy news.

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A smoother tax administration system could mean more transparent income reporting, which may actually work in your favour when applying for loans.

🎯 What You Should Do

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Cleaner GST system means your income gets verified faster by banks

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Keep last 2 years of ITR and GST returns ready before applying for any loan

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Self-employed borrowers with consistent tax filings get 0.5-1% lower interest rates

💡 Pro Tip

Pro Tip: Always keep at least the last 2 years of ITR documents and GST returns ready before applying for a loan. Lenders view consistent tax...

Tax saved = EMI reduced — find your cheapest loan

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Sensex Crashed 800 Points — Should You Panic About Your Loan?

📈 Market Trends

211d ago

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₹350/month extra

If markets crash and rates jump 0.25%, your ₹10L loan EMI goes up ₹350/month. Lock your rate now while it's low!

Sensex Crashed 800 Points — Should You Panic About Your Loan?

🤯 During the 2020 market crash, personal loan interest rates actually dropped by 2%...

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📋 TL;DR

Stock markets are volatile with SBI gaining and Axis Bank slipping. When markets swing, banks sometimes tighten lending or adjust interest rates. As a borrower, this means comparing multiple loan offers becomes even more important to find the best deal.

📰 What Happened

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Indian equity markets are going through a choppy phase, with the Sensex and Nifty trading unevenly.

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For everyday borrowers, stock market volatility is not just financial news — it has real consequences.

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Market uncertainty also tends to make lenders more cautious.

🎯 What You Should Do

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Market ups and downs can change how aggressively banks offer personal loans

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Your credit score matters even more during volatile times — keep it above 750

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Compare offers from multiple lenders instead of going with just your salary bank

💡 Pro Tip

Pro Tip: During market volatility, your <a href="https://gocredit.money/cibil-score" class="text-primary font-semibold hover:underline">credit...

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RBI Froze Your EMI — But There's a Catch Most Borrowers Miss

🏛️ RBI Policy

211d ago

💰

₹0 EMI change

Your current EMIs stay exactly the same. But if you've been waiting to borrow — this is your window before rates move!

RBI Froze Your EMI — But There's a Catch Most Borrowers Miss

🤯 If repo rate had gone up by just 0.25%, a 10 lakh personal loan EMI would increase by...

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📋 TL;DR

RBI kept the repo rate at 6% — great news if you have a loan or are planning to take one. Your EMIs stay the same, and new borrowers can still get competitive rates. This is a stable window to lock in a good deal.

📰 What Happened

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The Reserve Bank of India's Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6% in its latest bi-monthly review.

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For <a href="https://gocredit.

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Financial advisors suggest this is an ideal window to consolidate high-interest debt.

🎯 What You Should Do

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EMIs on existing floating rate loans will not increase — your budget stays safe

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New borrowers can lock in current rates before any future hike

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Credit card debt at 36-42% can be replaced with a personal loan at 10-14% — saves lakhs

💡 Pro Tip

Key takeaway: If you need funds, this rate-hold signals that borrowing costs won't go lower soon — making it a smart time to apply.

RBI rules change your EMI — check your current rate

Compare Rates →

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SBI Just Cut Loan Fees in Half — ₹2,500 Saved If You Apply Before June

🏦 Bank Updates

212d ago

💰

₹2,500 saved

On a ₹5L loan, you save ₹2,500 instantly with the new fee. That's your month's groceries sorted!

SBI Just Cut Loan Fees in Half — ₹2,500 Saved If You Apply Before June

🤯 On a 5 lakh loan, this fee cut saves you 2,500 upfront. Multiply that across SBI's 4...

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📋 TL;DR

SBI just cut its personal loan processing fee in half — from 1% to 0.5% for online applications. If you are an SBI salary account holder, you get an extra discount too. This offer runs until June 2026.

📰 What Happened

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State Bank of India, the country's largest lender, has announced a significant reduction in <a href="https://gocredit.

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The reduced fee applies to SBI's Xpress Credit personal loan product, which offers amounts from ₹50,000 to ₹35 lakh at interest rates starting 10.

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This move comes as competition among lenders intensifies.

🎯 What You Should Do

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SBI processing fee dropped from 1% to 0.5% — apply online to avail

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SBI salary account holders get an additional 0.25% interest rate discount

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Always compare APR (total cost including fees), not just the interest rate

💡 Pro Tip

Pro tip: Always compare the APR (Annual Percentage Rate) which includes processing fees, not just the interest rate.

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📊

Free CIBIL Score Check

Check your credit score instantly — zero impact on CIBIL

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This Free CIBIL Trick Can Boost Your Score 30 Points in 60 Days

📊 Credit Score

213d ago

🎯

+30 points

Pay your credit card 5 days before due date instead of on due date — your score can jump 20-30 points in 2 months!

This CIBIL Trick Can Boost Your Score 30 Points in 60 Days

🤯 Just paying your credit card bill 5 days before the due date instead of on the due...

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📋 TL;DR

You can now check your CIBIL score for free every month instead of once a year. This means you can see how paying your EMI or credit card bill changes your score — and time your loan application for when your score is highest.

📰 What Happened

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TransUnion CIBIL has rolled out a significant upgrade to its free <a href="https://gocredit.

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This change aligns India with global practices where consumers can monitor their credit health frequently.

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Why this matters for loan seekers: Lenders offer the best interest rates to applicants with CIBIL scores above 750.

🎯 What You Should Do

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Free monthly CIBIL updates — register on cibil.com to activate

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Checking your own score is a soft inquiry and does NOT lower it

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A score above 750 unlocks the best interest rates — track it monthly to time your application

💡 Pro Tip

Remember: Checking your own CIBIL score is a soft inquiry and does not affect your rating.

Check your CIBIL score for free — instant result

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47 Loan Apps Were SCAMS — RBI Just Banned Them. Is Yours on the List?

📱 Fintech News⚠️BORROWER ALERT

214d ago

📉

365% interest

Illegal apps charge 1% PER DAY. A legit loan is 10-18% per YEAR. Always check RBI registration before borrowing!

47 Loan Apps Were SCAMS — RBI Just Banned Them. Is Yours on the List?

🤯 Some illegal apps were charging 1% per day interest — that is 365% per year! A legit...

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📋 TL;DR

RBI removed 47 fake loan apps from Play Store that were charging 200%+ interest and harassing borrowers. Before you download any loan app, here is how to check if your lender is actually registered with RBI.

📰 What Happened

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The Reserve Bank of India has intensified its crackdown on illegal digital lending apps, directing Google to remove 47 applications from the Play Store that were operating without valid NBFC registrations.

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The enforcement action follows hundreds of consumer complaints about harassment, unauthorized data access, and hidden charges.

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How to verify if your lending app is legitimate: 1.

🎯 What You Should Do

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Legitimate loan apps always show the NBFC or bank name and RBI registration number

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No real lender will ever ask for upfront fees or access your photos and contacts

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If you borrowed from a suspicious app, file a complaint at RBI SACHET portal or call 14448

💡 Pro Tip

If you've borrowed from a suspicious app, file a complaint on the RBI's SACHET portal or call the banking ombudsman helpline at 14448.

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₹60,000 Tax Refund on Your Loan — Most People Don't Know This Exists

💰 Tax & Budget

215d ago

💰

₹60,000 tax saved

If you're paying ₹2L/year education loan interest at 30% tax slab, that's ₹60,000 straight back in your pocket!

₹60,000 Tax Refund on Your Loan — Most People Don't Know This Exists

🤯 Under Section 80E, there is no upper limit on education loan interest deduction. A...

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📋 TL;DR

March 31 deadline is coming. Most people think personal loans have no tax benefit — but if you used the loan for home renovation, education, or business, you can actually claim deductions. Here is exactly what qualifies.

📰 What Happened

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With the financial year ending on March 31, taxpayers are scrambling to maximize deductions.

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The short answer: It depends on what you used the loan for.

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<a href="https://gocredit.

🎯 What You Should Do

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Home renovation loan interest — deductible up to 30,000 per year under Section 24(b)

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Education loan interest — fully deductible under Section 80E for up to 8 years

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Business loan interest — deductible as business expense under Section 37(1)

💡 Pro Tip

GoCredit's AI assistant can help you understand which loan products offer tax advantages based on your specific use case.

Tax saved = EMI reduced — find your cheapest loan

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