The other day there have been two news that is good borrowers. One which banks and NBFCs have begun sanctioning bigger mortgages (over Rs 1 crore) as long as three decades tenure. This will be for the very first time since the credit crisis. These loans will especially target the young salaried individuals when you look at the generation of 25-30 who will be in the first stages of jobs and also have high aspirations as well as as making potentials.
The 2nd very good news was that April onwards, due to the brand new financing base price calculation formula, banking institutions will likely be faster to pass through on any price cuts to borrowers. Nevertheless, they are very good news as long as you've got a good credit rating. Banking institutions would neither lend you high quantities nor are you in a position to switch lenders and benefit from a price cut when you have a credit score that is poor.
What exactly would you do if you don't have credit that is good and require money? What exactly is the most readily useful deal you could get?