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The insurance industry has always experienced a change in some form or the other. While the industry is very dynamic, because of the constant changes in trends and consumer demands, the level of shift brought about by Covid-19 is unimaginable.
Modern times require modern solutions. Likewise credit card companies are finding innovative ways to get customers to repay their outstanding credit card bills. As a result of the financial stress caused by the Covid-19 pandemic and the subsequent lockdowns, customers held off paying their outstanding credit card bills.
Moratorium period and grace period are two terms that are often confused to be the same. These two terms, however, have many key differences.
As the world continues to battle against the COVID-19 pandemic and the uncertainty that surrounds it, concerns are arising around mitigating the adverse impact of the virus. In light of this situation, India, with its 1.38 billion people, sees a major problem of a vague financial future.
With the continued impact of the Covid-19 pandemic on the economy, the Indian government announced multiple timely measures to offer relief to millions of individuals and small businesses.
As the Covid-19 pandemic continues across the country, at CreditMantri, we're doing our best to help our customers and readers during this unprecedented crisis. We have compiled several articles to help our customers keep their credit on solid footing during this ongoing global pandemic.
Small and middle-income borrowers can breathe easy as the Government of India has ensured that substantial relief measures will be offered by banks and financial institutions during the ongoing pandemic period.
The Indian government imposed a stringent nationwide lockdown in March, as a means to flatten the Covid-19 curve. The lockdown was to buy time for the government to prepare various health measures to deal with the Coronavirus outbreak.
The RBI recently announced that it would allow a one-time restructuring of loans across all sectors. This move has been hailed as a much-needed lifeline for borrowers struggling to repay their EMIs due to the economic fallout of the Covid-19 pandemic.
In a bid to give some relief to taxpayers and homebuyers amid the Covid-19 crisis, the Reserve Bank of India (RBI) had some time back directed all banks, NBFCs and housing finance companies (HFCs) to allow three months’ moratorium on the EMI payments of various retail loans, including home loans, as well as working capital loan instalments which were due for payment between March 1, 2020, and May 31, 2020.
Dewan Housing Finance Limited (DHFL) is one of the key players in the housing loan market in India. It has been offering affordable housing loans to its customers for many decades now.
India went into a nation-wide lockdown in March as a preventive measure to curb the spread of the deadly Coronavirus. As a result, millions of businesses – big and small – that do not fall into the category of essential services had to pause their operations.
The Reserve Bank of India announced in June that it is extending the moratorium on loan EMIs and credit card bills for three months.
The ongoing Covid-19 pandemic has created massive financial stress for individuals and businesses, across all sections of the society. To ease borrowers' burden during these challenging times, the RBI (Reserve Bank of India) has issued a directive to all commercial banks and NBFCs to offer customers an interim relief in their loan repayment schedules.
The government of India has launched several measures to help citizens deal with the economic blowouts caused by Coronavirus-lockdowns and restrictions. One such relief measure is the – moratorium on loan payments.
After the onset of Covid-19 pandemic, the Reserve Bank of India announced a 3-month moratorium on term loan repayments as part of its economic relief measures. This moratorium applies to all payments between March 1-May 31, 2020 and also covers credit card dues.
With the Coronavirus pandemic spreading across the world, several countries, including India, encourages its workforce to work from home. Remote working, aka work from home, is seen as an excellent way to protect employees from the potential health risks at the workplace.
One of the most significant collateral damages of the Covid-19 pandemic is the failing economy. Due to the nationwide lockdown, millions of businesses and individuals are struggling to make ends meet.
Coronavirus (COVID-19) has stealthily spread across the globe and has become one of the deadliest viruses killing thousands of people worldwide. The World Health Organization (WHO) has declared Coronavirus as a pandemic.
Managing your money is important and it becomes especially important during a crisis like the ongoing Covid-19 pandemic. We are starting to see some economic consequences starting to show up, but what is less visible is the financial stress caused by the uncertainty.
Looking after your health is important and it becomes especially critical during a crisis like the ongoing Covid-19 pandemic. The ongoing Covid-19 crisis has made us feel like we are inhabiting a world that was completely unknown to us just a month ago.
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