Debt and loans
Borrow smart, and get out of the traps.
Loan recovery agent rules: what agents can and cannot do under RBI rules
If you miss loan payments, a bank or NBFC can send a recovery agent, but RBI rules limit what that agent may do. Here is what is allowed, what is banned, the stricter rules that start on 1 January 2027, and where to complain if you are harassed.
Read the lesson → DebtCredit card EMI: the real cost of converting a bill into EMIs
Converting a credit card purchase or bill into EMIs costs much less than carrying the balance at card interest, but it isn't free. You pay interest, often a processing fee, and 18% GST on both. Here is how card EMIs work, what RBI requires card issuers to show you, the effect on your credit limit, and a worked comparison with revolving the bill and a personal loan.
Read the lesson → DebtCredit card limit increase: how it works and when to say no
Banks raise credit card limits in two ways: they offer an increase, or you ask for one. Either way, RBI rules say the limit cannot go up without your explicit consent. Here is what the bank looks at, how to request an increase, what it does to your credit utilisation and score, and when a higher limit is a bad idea.
Read the lesson → DebtHome loan balance transfer and top-up: how it works, costs and documents
A home loan balance transfer moves your outstanding loan to another lender at a lower rate, often with a top-up loan on the same property. Here is how it works, what it costs, the documents lenders usually ask for, a worked example of savings against costs, and the RBI rules on floating rates that help you.
Read the lesson → DebtLoan foreclosure charges: RBI rules on prepaying a loan from 2026
Lenders cannot charge you for paying off a floating-rate loan early if you took it as an individual for a non-business purpose. RBI's 2025 directions, in force for loans from 1 January 2026, extend the relief to many business loans of individuals and small firms. Fixed-rate loans, including many personal loans, can still carry a charge, but only one disclosed upfront.
Read the lesson → LoansPersonal loan: how it works, what it really costs, and the traps
A personal loan needs no collateral and can reach your account in days, but you pay for that speed. Here is how lenders price it, how to read the true yearly cost, and when to say no.
Read the lesson → LoansBuy now, pay later: it's a loan, and it can hit your credit score
Buy now, pay later lets you split a purchase into small payments, often with no interest if you pay on time. But it is a loan from a lender, it is reported to credit bureaus, and missing a payment brings late fees and a lower credit score. Here is how it works and what to check.
Read the lesson → LoansCar loans explained: tenure, prepayment and getting the RC cleared
A car loan is secured by the car itself until you finish paying. Here is how tenure changes the real cost, why the fixed or floating rate decides whether you can prepay for free, and the one step people forget after the last EMI: removing the lender from the car's papers.
Read the lesson → LoansEducation loans explained: collateral, moratorium and the tax break
An education loan pays for your course now, and you start repaying after it ends. Here is how the repayment break works, when a bank cannot ask for collateral, why interest keeps adding up while you study, and the tax deduction on the interest.
Read the lesson → DebtGold loans: the real cost, and RBI's new rules
Indians owed banks about ₹5.36 lakh crore in gold loans by June 2026. RBI's new rules cap how much you can borrow and protect your jewellery. Here is how a gold loan really works.
Read the lesson → LoansLoan against FD: borrow without breaking your fixed deposit
A loan against a fixed deposit lets you borrow using your FD as security, so you don't have to break it. Here is how much you can usually borrow, why it costs less than a personal loan, and when it makes more sense than breaking the deposit.
Read the lesson → DebtRBI raised the repo rate: what it means for your EMI
RBI raised the repo rate to 5.50% in October 2026. If you have a floating-rate loan, your EMI or loan length can go up. Here is how it reaches you, and what to check.
Read the lesson → CreditHow to check your credit report free, and what to look for
Your credit report decides whether you get a loan or card, and on what terms. You are entitled to check it free every year, from each of the four bureaus. Here is how to get it, and what to look for.
Read the lesson → DebtHome loan basics: EMI, tenure and the interest you pay
A home loan lets you buy a house now and pay over many years, with interest. Here is what makes up your EMI, why early instalments are mostly interest, and the fixed-versus-floating choice.
Read the lesson → CreditHow to improve your credit score: the levers that work
Your credit score rises when you show lenders you repay on time and do not lean too hard on credit. Here are the levers that actually move it, the habits that hurt it, and how long it takes.
Read the lesson → DebtPersonal loan vs credit card: which costs less to borrow?
A personal loan and a credit card both let you spend money you do not have yet, but they work and cost very differently. Here is how each one charges you, when each makes sense, and the rupee gap between them.
Read the lesson → DebtShould you prepay a loan? When it pays, and when it does not
Prepaying a loan means paying off part or all of it early to save interest. It usually pays for high-interest loans and early in the tenure, but not always. Here is how to decide, and a 2026 rule that makes it cheaper.
Read the lesson → DebtActivating your first credit card, safely
Your first credit card arrives blocked. You activate it and set the ATM PIN, and on most banks you can do both in the official app, no branch visit. Here is what is on the card, what each number does, and what you must never share.
Read the lesson → DebtFree, annual-fee or secured: which first credit card fits
Credit cards come in three broad types by cost: lifetime-free, annual-fee, and secured against a deposit. Here is what each is for, the fee-waiver trap, and the one question that decides which fits a first-timer.
Read the lesson → DebtUsing your credit card abroad: the charges nobody mentions
Spending on your credit card abroad or on foreign websites adds charges that are not on the price tag: a forex markup, GST on it, and more if you pick the wrong currency. Here is what stacks up, and the one choice that saves the most.
Read the lesson → DebtHow a bank decides your credit card, and your limit
When you apply for a credit card, the bank decides two things: whether to give you the card, and your spending limit. Here is what they check, how the limit is set, and why applying to many cards at once can hurt.
Read the lesson → DebtIs no-cost EMI really free? The charges it hides
No-cost EMI looks like paying over time for no extra cost. It rarely is. The interest does not vanish, it moves into a lost discount or a fee. Here is where the cost hides, with a rupee example, and when it is still fine to use.
Read the lesson → Debt"Your card is ready, just confirm your address": what that call is
A bank calls saying your credit card is ready, just confirm your address. It sounds like a pending step, but it is a sales offer for a new card. Here is what is really happening, and how to tell it apart from a scam.
Read the lesson → DebtYour first credit card bill, explained
A credit card is free money for a few weeks, then the most expensive money you can borrow. The difference is whether you pay the full bill by the due date. Here is the billing cycle, the grace period, the ATM cash trap, and the real cost of carrying a balance.
Read the lesson → DebtYour credit score, explained: the number behind every loan
Your credit score is a three digit number lenders check before any loan or card. Here is what moves it, how to see yours free, and the habits that lift it.
Read the lesson → DebtHow to get out of credit card debt, step by step
Carrying a card balance? Here is a clear way out: stop the bleeding, pick a payoff method, and use the tools that cut your interest rate. With rupee examples.
Read the lesson → DebtCredit card minimum due: the trap in your bill
Paying only the minimum amount due keeps your card active, but not interest-free. Here is the trap, with a rupee example, and how to avoid it.
Read the lesson → Debt45% of new credit cards go to under-30s. Here is the trap nobody explains.
Credit card dues jumped 84,000% in ten years. The minimum due trap, with a real rupee example.
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