MAM
Taki introduces official app on Google Play Store to improve user experience
Mumbai: Global web3 social networking platform Taki has announced the launch of its Android app to further boost its expansion. This development comes at a time when Taki claims to have surpassed the milestone of having half a million users globally. Taki is aiming to further increase its audience by making its services more accessible and user-friendly. With the launch of its Android app, users can access their Taki account on Android smartphones. As part of this, Taki has released important features to improve the user experience. These features strengthen the platform’s security and make it simple to follow the movement of user coins, known as $UCOIN.
Taki co-founder Sakina Arsiwala said, “Our constant endeavour to make our platform more user-friendly motivated us to introduce an Android app for Taki. We aim to provide our users with a platform that offers a streamlined user interface, a fast load time and the ability to customise the content.”
Taki has introduced coin profile pages to track any user’s coin performance under multiple metrics such as the share of owners, annual percentage rate (APR), coins in circulation, the total number of supporters, etc. Another key addition is the new interface on Taki, which showcases a top coin leaderboard. It highlights the top 10 users who are holding the coins with the highest value against $TAKI over the previous seven days. Fellow community members and creators on the platform can now reward both a content creator’s post and the related comments with a gold Taki. Overall, it enhances the engagement level on the platform and provides additional motivation for community members to demonstrate appreciation for their favorite content creators’ posts.
Taki is offering the opportunity for people to own their unique and desired $UCOIN (usercoin). They can now access Taki without delay to register before anyone else takes their desired name. A $USERCOIN will be created once a particular individual completes verification on the platform. The company claims over 4,68,541 unique user coins have been generated so far with an active user base of 5,59,705 active users.
“Seeing such a positive response from the community has been rewarding. The user experience drives us to keep improving the product. We believe that Taki will be the first-of-its-kind in bridging the gap between the everyday internet user and Web3, especially with India’s ever-growing potential in the crypto ecosystem,” said SuperLayer Venture Partner Saad Rizvi.
When applying for a loan, many borrowers focus on interest rates and credit scores. While these matter, lenders also rely on another key measure to judge whether a borrower can realistically manage repayments. This measure is FOIR, or Fixed Obligation to Income Ratio. It plays a central role in determining both loan approval and EMI comfort.
Understanding FOIR helps borrowers plan better and avoid taking on repayment commitments that stretch finances too thin.
What FOIR Means in Simple Terms
FOIR measures how much of a borrower’s monthly income is already committed to fixed obligations. These obligations include existing loan EMIs, credit card dues, and other long-term repayment commitments.
The ratio is calculated by dividing total monthly obligations by monthly income. The higher the ratio, the less room there is for an additional EMI.
Lenders use FOIR to answer a practical question. After meeting existing commitments, does the borrower have enough income left to service a new personal loan comfortably?
Why Lenders Rely on FOIR
FOIR helps lenders assess repayment capacity in real terms. Credit scores show past behaviour, but FOIR focuses on present and future affordability.
Even borrowers with strong credit histories may face rejection if their FOIR is already high. From a lender’s perspective, a borrower with limited disposable income is more vulnerable to missed payments during emergencies or income disruptions.
By using FOIR, lenders aim to reduce default risk while ensuring borrowers are not overburdened with EMIs.
For borrowers who meet criteria such as a stable monthly income and a CIBIL score of 710 or above, FIRSTmoney Personal Loan by IDFC FIRST Bank provides a 100% digital loan up to ₹15 lakh in as little as 10 minutes for an approved loan offer.
Typical FOIR Expectations in India
There is no single fixed FOIR threshold across all lenders, but certain ranges are commonly used.
In many cases, a FOIR of up to 40 or 50 per cent is considered manageable for salaried individuals. Higher-income borrowers may be allowed slightly higher ratios due to stronger financial buffers.
For self-employed applicants, lenders may be more conservative, given income variability. These ranges directly influence whether a personal loan is approved and at what EMI level.
FOIR and EMI Affordability
FOIR does not just affect approval. It also influences how much EMI a lender is willing to sanction.
If existing obligations already consume a large part of income, lenders may approve a smaller loan amount or suggest a longer tenure to keep EMIs lower. This ensures the total obligation stays within acceptable FOIR limits.
Maintaining control over the borrowed amount can also help in managing these ratios. FIRSTmoney Personal Loan allows for multiple on-demand withdrawals from an approved loan offer of ₹50,000 to ₹15 Lakh, where interest is only charged on the amount withdrawn.
Borrowers can use a personal loan calculator to see how changing the loan amount or tenure affects EMI levels and overall affordability before applying.
How FOIR Impacts First-Time Borrowers
First-time borrowers often underestimate how existing commitments affect eligibility. Credit card dues, even if paid regularly, are included in FOIR calculations.
This can come as a surprise when approval amounts are lower than expected. Understanding FOIR early helps set realistic expectations and prevents unnecessary applications that could affect credit health.
Using a personal loan calculator alongside a review of current obligations gives a clearer picture of what is affordable.
Improving FOIR Before Applying
FOIR is not fixed. Borrowers can take steps to improve it before applying for a loan.
Reducing existing EMIs by closing small loans or paying down credit card balances can lower FOIR. Choosing longer tenures for current loans may also reduce monthly obligations, though this increases overall interest cost.
Choosing a loan that features zero foreclosure charges helps borrowers clear their debt whenever they have excess liquidity. For example, FIRSTmoney Personal Loan allows users to close their loan at any time via the app without penalty, making it easier to manage total fixed obligations.
Stable income growth improves FOIR naturally, as higher income reduces the ratio even if obligations remain the same.
FOIR Versus Loan Eligibility Tools
Many online tools show loan eligibility based on income and credit score. However, these tools often give optimistic estimates.
FOIR acts as a reality check during the final assessment. This is why borrowers may see differences between initial eligibility results and final approval terms.
Using a personal loan calculator with conservative assumptions helps align expectations with actual lending outcomes.
Conclusion
FOIR plays a critical role in personal loan approval and EMI affordability by linking borrowing decisions to real income capacity. It helps lenders assess risk and ensures borrowers are not stretched beyond comfort. By understanding how FOIR works and using tools like a personal loan calculator to plan EMIs realistically, borrowers can approach lending decisions with greater confidence. With structured assessment frameworks and transparent processes, FIRSTmoney Personal Loan by IDFC FIRST Bank continues to support responsible lending, offering instant loan disbursal up to ₹15 lakh within 10 minutes.
