Unable to get a loan? Build a proper credit history with secured card

First-time borrowers should start a fixed deposit and get a credit card against it

The Reserve Bank of India (RBI) said recently in its monthly bulletin that lenders find it difficult to extend credit in the absence of borrowers having a credit history. A good credit history has emerged as a significant factor for lenders while making lending decisions.

“Your credit history is one of the most important factors banks and non-banking financial companies (NBFCs) consider while processing your application for a loan or a credit card. A strong credit history that displays responsible behaviour with credit can help you get offers for loans at low interest rates. With a healthy credit history and