Introduction Retail loans are financial products offered by banks and Non-Banking Financial Companies (NBFCs) to cater to the diverse credit requirements of individual borrowers. These loans serve various purposes, such as purchasing a home or vehicle, funding higher education, managing personal expenditures, or availing credit against gold. Additionally, loans extended to Micro, Small and Medium…
The Reserve Bank of India (RBI) has issued the Digital Lending Directions, 2025, to regulate the rapidly evolving digital lending ecosystem in India. Digital lending refers to the end-to-end automated loan process conducted remotely using digital platforms, encompassing customer acquisition, credit assessment, loan approval, disbursement, servicing, and recovery. While digital lending has significantly enhanced credit…
Brief: Home loans in India are one of the most sought-after financial products offered by banks and housing finance companies to help individuals realize their dream of owning a home. These loans are provided for various purposes including purchasing a new house, constructing a home, renovating or extending an existing property, or buying a plot…
Co-branded credit cards are financial products issued jointly by a bank and a partnering brand, retailer, or service provider. These cards offer benefits and rewards specifically aligned with the partner brand’s offerings, thereby aiming to foster customer loyalty and encourage repeat purchases within the brand’s ecosystem. In contrast, standard credit cards provide more generalized rewards…
A charge card is a type of payment card that allows users to make purchases with the requirement to pay off the entire balance each month. Unlike credit cards, charge cards do not typically charge interest, as there’s no option to carry a balance. They also often lack a pre-set spending limit, giving users more…
Home décor refers to the art and practice of enhancing and furnishing a residential space to improve its comfort, visual appeal, and alignment with the homeowner’s personal preferences and style. It involves the thoughtful selection of colors, textures, patterns, furniture, lighting, wall décor, and accessories, all aimed at elevating both the ambiance and functionality of…
A home improvement loan is a financial product specifically designed to fund renovations, repairs, or upgrades to an existing residential property. Unlike a traditional home loan, which is used to purchase a property, a home improvement loan is intended solely for enhancing or modifying the structure of a home that is already owned. Key Features…
Banks are issuing credit cards to their customers as well as to general public. The bank on receipt of application from individuals for credit cards, process the same and decides about issuing the cards and fixing credit limit on the basis of the creditworthiness of the customers.The credit cards are issued in the form of…
Banks and non-banking financial institutions lend for purchase or construct a new home. For a smooth home loan (also known as housing loan in some banks) process, the prospective borrower must submit a duly filled application along with important documents such as identity proof, address proof, income proof, etc. If there is a co-borrower they…
The major difference between wholesale banking and retail banking is in the type of clientele. Retail banking, also known as consumer banking, refers to the offering of banking services to individuals and lower-tier businesses. Services offered in retail banking related both on deposits as well as loans and advances. Deposit products avail retail customers are…