How can I improve my Credit Score or CIBIL Score? - Helpful Tips

-

How can I improve my Credit Score or CIBIL Score?

There are many ways by which you can improve your credit score. Some of these ways are 
maintaining payment of loan EMIs and credit card bills, 
limited borrowing and 
maintaining a credit utilisation ratio of less than 30% can also help your score.

  1. Credit Card Utilisation



  2. Credit card Payment History


  3. Age of Credit Card/ Lines


  4. Negative Status Accounts


  5. Credit Enquiries


  6. Total Accounts




Comments

Post a Comment

Popular posts from this blog

Mutual Funds Investment- Important Step towards Financial Independence

-
Image
  Content 1. What is Mutual Fund (MF)? 2. Types of Mutual Fund 3. Mutual Fund Schemes as per SEBI 4. Who should Invest in Mutual Funds? 5.  Benefits of Investment in Mutual Funds 6. Risks of Investment in Mutual Funds 7. How to Invest in Mutual Funds? 8. Other Important Questions 9. Special consideration for First Time Investors *** What is Mutual Funds *** Mutual Fund is a professionally managed company (Created with an objective of Investment )  that  pooled investment  ( collects money ) from many investors  , provide shares / units to its investors and  Invests the money received from investors in the securities such as stocks, bonds etc. to generate incomes for the investors . The Investments of the mutual fund are known as Portfolio .  The Portfolio of mutual fund is structured and maintained to match the investment objectives of the investors with the objectives of mutual fund .  Mutual funds are operated by  Fund Manager...
Read more

Brief Description of RBI

-
Image
Reserve Bank of India (RBI) is the central banking and monetary authority in India. RBI manages the country's money supply and foreign exchange and also serves as a bank for the Government of India and for the country's commercial banks. Banks can be broadly categorized into commercial banks, public sector banks, regional rural banks, private sector banks, foreign banks, co-operative banks, and term lending institutions, non-banking finance companies / housing finance companies. Public sector banks make up the largest category of banks in the Indian banking system. There are 28 public sector banks in India. After bank nationalization was completed in 1969 and 1980, the majority of Indian banks were public sector banks. In July 1993, as part of the banking reform process and as a measure to induce competition in the banking sector, RBI permitted entry by the private sector into the banking system. This resulted in the introduction of nine private sector banks. The Gover...
Read more

Income Tax on Capital Gain on Investment in Mutual Funds

-
Image
Key Amendments introduced to the Finance Bill 2023 New Tax Slab Rates w.e.f 01.04.2023 Applicable slab rate irrespective of Holding period. However, can claim set off against short term capital losses. Any capital gain on Investments made after 1 April 2023 in Mutual funds where the domestic equity allocation is 0-35% would be taxed as short-term capital gains as per slab rate, irrespective of holding period. Following categories fall under the new tax ambit: All debt Mutual funds Gold ETF International funds irrespective of the structure - ETFs, Index funds, FoFs, etc Global offshore funds domiciled outside India Conservative Hybrid Funds Present Tax Slab Rates Holding period of >= 3Y: LTCG @ 20% with indexation benefit  Holding period of <3Y: STCG at slab rate Summary:
Read more