A 50 point increase in your credit score can save you this much in loan interest payment
Synopsis
While many are aware that a high credit score helps in borrowing money, they are not sure how this works. Many would like to know how much discount in terms of lower interest rate on a loan they can get if they improve their credit score.
While borrowing, who would not like to get the lowest interest rate from the lender? However, the reality is that the lowest rate is offered only to a few select borrowers. These rates are mostly offered to borrowers with a high credit score. We tell you how a good credit score can help you save big on interest payout and what you can do to get one.
Banks Fight $4 Billion Debt Relief Plan for Black Farmers
Lenders are pressuring the Agriculture Department to give them more money, saying quick repayments will cut into profits.
Handy Kennedy, a farmer in Cobbtown, Ga., and founder of a cooperative of Black farmers. Debt relief approved by Congress in March aims to make amends for decades of financial discrimination against Black and other nonwhite farmers.Credit.Michael M. Santiago/Getty Images
May 19, 2021, 5:00 a.m. ET
WASHINGTON The Biden administration’s efforts to provide $4 billion in debt relief to minority farmers is encountering stiff resistance from banks, which are complaining that the government initiative to pay off the loans of borrowers who have faced decades of financial discrimination will cut into their profits and hurt investors.
The Thai Credit Guarantee Corporation (TCG) recorded a low number of requests for its soft loan guarantee, totalling only 6.5 billion baht out of its earmarked 100 billion.
Bounce rates of auto debit transactions rise in April
Surabhi
Mumbai |
Updated on
Banks are turning watchful about repayments - Getty Images/iStockphoto×
But limited lockdowns may mute impact
In a worrying repetition of last year’s Covid-19 led economic distress, bounce rates for recurring transactions were elevated in April.
Data captured by the National Payments Corporation of India from its National Automated Clearing House (NACH) platform, too reveal that the number of unsuccessful auto debit requests in the month of April had once again begun to climb up after remaining low in March.
According to NPCI’s data, of the total of 8.54 crore auto debit transactions on the NACH platform in April, 5.63 crore were successful while 2.9 crore were returned. This reflects a return or bounce rate of 34.05 per cent in April compared to 32.76 per cent in March.