Hidden Facts You Need to Know a CIBIL Report

Are you someone who is curious to know your credit score before applying for a loan or your favourite credit card? If yes, reading this article is going to be worth for you. Many people at the time of applying for a loan or a credit card pay much attention to the credit score and why not, it is undoubtedly one such crucial ingredient without which it is difficult for an individual to experience a smooth financial journey.

However, just like your credit score, there is another vital element that plays a key role in your overall loan journey, any guesses? Well, it is your CIBIL report. You read that right, my buddy! This report not only showcases your score but it includes a lot more information. So, without wasting any time further, let’s just get into the topic straight and discuss more of the same in the article below.

When it comes to CIBIL report, there is no denying the fact that it is a comprehensive unified document that not only contains the credit history across different lenders over a significant period of time but it also includes the details of an individual’s/corporate entity’s borrowing history and repayment record. Basically, this report includes the following:

The personal details of an individual such as Name, Age, Gender and Address

Employment Details and Total Earnings

Total number of hard inquiries made by the potential lenders on the receipt of a loan/credit card application

Previous and current loan records along with payment record

Defaults on loan/credit card (if any)

Total credit limit and monthly spend limit (credit utilization ratio)

Credit score

Moreover, with the help of this report, it becomes easy for the lenders to know the detailed information of an applicant’s creditworthiness on the basis of previous and current credit behaviour. After looking at the report and getting fully satisfied with the same, the lenders take their final decision. Now that you know the information this unified document usually contains, let’s just know how this report has been generated.

How is CIBIL Report Generated?

India’s first Credit Information Company known as Credit Information Bureau of India Limited Limited (CIBIL) is one such renowned agency that maintains and collects the records of all the individuals and non-individuals who has ever been involved in any credit-related transaction such as loan/credit card. This reputed company collects the records from numerous leading banking and NBFCs on a monthly basis. If we talk about the data, it includes new loan/credit card application, credit limit, interest rates, status of all applications, defaults or what not. The lenders always keep an eye on the financial history of an individual and after considering the above parameters, a detailed Credit Information Report (CIR) has been generated that also has a credit score. Now, you can say this detailed report is a gateway of an individual creditworthiness and after the deep analysis of the same, the lenders evaluate and approve the loan/credit applications.

However, one thing that needs to be mentioned here is the fact that if your report says that your credit score is poor, it would be a big problem for you as due to which you won’t be able to get the lucrative deal for a loan/credit card. That’s Right! If an individual is having a low score, he/she tries to improve the same by keeping certain key points in mind. And, if a person’s score is good, he/she ensures that it should always remain good, i.e. maintaining a good score is also an important practice that also required the much-needed attention.

If you pay all your bills/dues on time without a miss, if you maintain a healthy relationship with your lender/credit card issuer, if you don’t check your score on a regular basis and if you avoid applying for a loan/credit card at too many lenders are some of the key practices that one should always follow so that it not only helps in improving/maintaining a good score but the same will also reflect in the CIBIL report, which will work in the favour of an individual for his/her future loan/credit needs.

Time to Change your Car

How to Know it’s Time to Change your Car

Looking forward to change your car? You need to spend a lot of money on this venture. However, sometimes it becomes very necessary to dump the old car. Here are some things to consider in order to determine if it is the right time to change your car:

Future Repairs

Let your trusted mechanic to take a close look at the car for spotting looming issues. He should also give you advice on how serious the entire thing is. If forecasts climb or repair estimates are more, decide on a new car.


Older cars including those maintained in excellent condition tend to wear out. So these pose risks of breakdown while driving. The latest cars are equipped with standard safety equipment such as better handling, advanced airbags, brakes, side airbags, electronic stability control, rearview cameras, etc. Some of the other safety features include drowsiness alert, blind spot monitoring, forward collision alert, lane departure warning systems, automatic parking, etc. So a new car is certainly the best option.

Gas and Mileage

If the present car eats up a lot of gas and mileage suffers, you need to replace the car. This problem cannot be fixed. Old cars are less fuel-efficient because they lack fresh engines and engineering advancement. The capacity will continue to go down.

How much is your Car Worth

Prior to making the decision, pay for repairs on the old car. You should take ample time to find out its worth. Speak to an expert to determine the retail or trade-in value of cars similar to yours. You can also use the “50-percent rule.” In case, repairs cost 50% of your car’s worth, replace it.

The Cost of New Car

You need to have a good idea of the next car you wish to purchase. Apart from having a good idea about the cost of new cars, figure out the way you would be pay for it. Calculate the down payment, the rest of the amount you wish to finance and insurance. It would be a good idea to calculate if the monthly payment for the next 3-4 years is more or less than the expected yearly expenditure in repairs for the present car. Consider replacing the car if annual repair bills go more than 10% of the price of the new car you wish to buy.

Insurance Costs

First do your homework well. You need to calculate the actual difference in the costs of annual insurance costs for the old car as compared to the brand-new one. If your old car is not worth that much, it is better to drop the idea of buying a new one. It’s also important to understand that luxury or sports cars would cost more to insure as compared to regular family sedans. To know more, read about car specifications in Hindi online.

Incentives and Rebates

Many times, zero percent or low financing may seem to be a good deal. In case, you wish to lease or get attractive incentives by automakers, it is time to dump your repair-prone car and buy a new one.

Changes in Lifestyle

These changes may dictate that it is time to replace your current car. For instance, change in size of family, longer/ shorter commutes to work, change of the child’s school, change of home, lack of space etc. call for change of car. A requirement for hauling items will also need a new car.

You’ve Had Enough

Have you had enough of your old car? Sometimes, you just don’t feel like continuing with what you have. It may be because you genuinely need a new one, got a promotion, need to travel a lot, or get one that’s appropriate for your new business. If you think your finances allow you to invest and a new one has been occupying your mind, go for the new car.

Demat account

5 Broking firms offering Free Demat account

If you are new to trading and stock business and searching for the right broker to start with, then you are at the right place. It is extremely important to approach a right broker that gives you the best possible options according to your requirement, not in the terms of options and services, but also costs.
So, here I am going to share some best options for you.

A  Free trading account doesn’t mean you always have the best service because most of the brokers fail to provide service because of low charges and free accounts. So, you need to be very careful while choosing the best one for you.

Here are the options for you

  • 5 Paisa.com

This firm offers a free account and the charges for a flat per trade are Rs 10. You can access the trade from your mobile, Desktop or other digital platforms. You would have a single account to trade in the financial market, you can trade across all the platforms equities, future, options, currencies and commodities. You can open a demat account without any paperwork. Though it’s not a big deal, you must familiarize yourself with the trading platform.

  • Sharekhan

Sharekhan offers different range of plans according to the requirement of the client. They have plans for a free demat account. It is one of the very well-known firms in the country and provides best quality service across all the platforms. If you trade in high volume then you can get the discount in terms of broking and other fees. This is a very old firm working for many years and been very finest in the financial service providers.

  • Motilal Oswal

Motilal Oswal is one of the reputed firms in India and has a very large network all over. It provides diverse number of services such as institutional broking, retail broking, private wealth management and distribution, assets management, private equity, investment banking, currency broking, commodity broking and home finances. Currently, they have more than 1700 business locations. They guide their client on the research base technique that’s why they have very large client base all over.

  • Angel Broking

It is a top-notch and well-known firm in the country, known for its great services at minimum cost. It offers a lifetime free account. The service and cost are also very competitive in Angel Broking. It provides digital services so there is no headache of paper work you can open your account online and access your account from any digital platform. If you do online transactions, then you can get the 20% discount on every brokerage.

  • Religare Online

It offers free trading account services online. There may be other terms and conditions which you need to follow. But I am going to inform you that not all the broking firms provide services up to the expectation because of low-cost account. The software is very friendly and easy to operate. You can easily access your account and do transactions in the market.

Teaching- the Best Profession to Start Your Career in 2018

Teaching is an increasingly demanding career option nowadays; it is a very responsible and passionate option to start a career in this. The career in education is uniquely challenging, yet especially rewarding.

Candidates who have a passion to teach others, who are hard-working enough can easily enter in this field. There are a number of courses available which one can choose to get into this profession. Teaching courses provide certification or diploma in a particular area or specialization in the education field.

Teachers should be patient, calm, and detail-oriented, with an ability to clearly communicate information in the classroom. With all these, it also requires key knowledge of a subject matter so that it can assist society in knowing better things and getting acknowledged to the advancement of the world.

In this modern era, education is an essential thing that should be imparted to the last human on the earth. Job prospects in this area are very high and there are a number of opportunities for the candidates to make a bright future in this profession like one can get into Faculty Jobs, Assistant Professor Jobs, Lecturer jobs, Teacher, and many others. Although, there are various vacancies both issued by government sector as well as private sector departments. In this regard, candidates can find a great focus on attracting jobs. To get a job in government sector candidates needs to clear the competitive exam that is held by the government every year.

Advantages to choosing career in the teaching profession:

  1. Rewarding:

    The main reason behind choosing a career in teaching is that it is an incredibly rewarding job. You can teach a subject that you love to read. You can give knowledge to others about a particular subject and get to see young people’s love of their subject increase, their academic performance improve and you can guide them in their choice of future career.

  2. Variety of jobs:

    This is another benefit to choosing career in this profession. Teachers are always being in great demand and the demand will increase with time for sure. This demand increasing the job opportunities for young people and give them a chance to make their career bright.

  3. Flexible working:

    In teaching, you don’t need to follow a strict schedule. If you can’t teach in school or colleges then you can also teach at your home and can open your own coaching center. It offers flexible work hours and also you can pursue any other course in your free time.

  4. Encouraged to research too:

    To become a teacher you need to be more active. e. Lecture, teachers, assistant, professor and faculty are needed to be active all time and also encouraged to be active researches as well.

There are many different areas where one can do the job like in Colleges, Universities, schools, and others. There are different job portals in India where candidates can easily apply for the teaching jobs in India.

Author Bio:

Khushboo Setiya is an online media enthusiast and a blogger who closely follows the latest Career Guidance and Job trends In India and online marketing trends. She writes about various related topics such as job opportunity in India, Career Topics, Job Search and much more.