Debt-to-Income Ratio vs Debt-to-Credit Ratio

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Summary These ratios measure different things. Debt-to-income compares your monthly loan and EMI payments with your income for example, ₹30,000 of repayments on an ₹80,000 income equals 37.5%. Debt-to-credit compares credit card balances with available limits. The first measures repayment capacity; the second measures credit usage. When evaluating a person’s creditworthiness, lenders rely on several…

Credit Card APR vs EMI Interest: Which Option Actually Costs You Less in India?

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Summary Credit card APR is the yearly cost of carrying an unpaid balance. For example, a 3.5% monthly rate works out to roughly 42% a year before other charges. EMI breaks a large purchase into fixed monthly payments, but processing fees, GST and longer tenures can increase the total cost. Paying the full bill by…

Credit Card Bill Payment with Cheque: A Complete Guide

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Summary A credit card bill can be paid by cheque if the issuer supports it, but the payment counts only after the cheque clears. Write the correct payee details and card number, use an authorised drop box or branch and submit it several working days before the due date. Online payment is usually faster and…

Cover Car Repair Bills By Splitting Payments On Card EMI

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A car usually chooses the worst possible time to need an expensive repair. One visit to the service centre can turn into a bill for a new battery, tyres, clutch work or an engine part, and paying the full amount at once may disturb the rest of the month’s budget. If the workshop accepts credit…

Is insurance mandatory for Personal Loan? – Importance, benefits & tips

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The short answer to “is insurance mandatory for personal loan” is NO. Personal loan insurance is generally an optional protection product, not an automatic condition for taking an unsecured loan. However, a lender may offer a loan-protection or credit-life policy with the application, and the terms can differ between products. If a lender presents insurance…