Lending Articles

In order to make the best decisions for your finances and business operations, you need to consider the advantages and disadvantages of bill discounting.  Given below is tabular overview of the same: Advantages Disadvantages Access to instant cash Higher interest rates and costs Sh.....

The kind of working capital policy that you should choose depends upon your plans for business growth. Hence, it is advisable for you to choose one wisely. Give these three working capital management policies a serious thought before you pick one that aids your business endeavours. Re-evaluate your .....

Latest News Updates By 2032, the Market for Invoice Factoring Will Experience Exponential GrowthBrainy Insights, a leading market intelligence company, has predicted that the market of invoice factoring, valued at $2.74 trillion globally in 2022, is expected to grow to a massive $6 trillion by 20.....

Starting a pathology lab in India requires careful planning, right infrastructure, skilled staff, proper licensing, and secure finances. By following the steps mentioned above, you can build a standard pathology lab that meets regulatory recommendations and provides quality healthcare services. Foll.....

The number of income taxpayers in India has more than doubled over the last few years, and this is expected to further rise as the formalization of the economy continues.   However, most people are unfamiliar with the complexities of taxes. More and more CAs are assisting the common man and small .....

Feeling overwhelmed? It’s understandable, but don't let this stress get in the way of your clinic’s growth. By following the above-mentioned steps, you can steadily increase your patient base and grow your medical practice. For additional financing, you can even consider applying for a doctor loan w.....

Agriculture is key to India’s economy, providing jobs and contributing to GDP. High interest rates and other formalities made it difficult to access credit. Agriculturists can now opt for loans made available by commercial banks, rural banks, land development banks, microfinance institutions or NBFC.....

The process differs based on the loan scheme under which you plan to apply. If you intend to apply for a subsidy from NABARD, you can visit the closest branch or a bank that works with NABARD to offer financing. You can apply for the Mudra loan online on the Udyamimitra portal.  Usually, you need t.....

You can track the CIN of your company by following these steps: Visit the official website of MCA at https://www.mca.gov.in/content/mca/global/en/home.html Click on ‘MCA Services’ on the home page Under ‘Company Services’, choose ‘Find CIN’  Select ‘Company’ Choose the option ‘Search .....

Working capital is an accounting term that means the capital used in your business’ day to day operations. It is calculated by deducting one’s current liabilities from one’s current assets, and is a key factor to your business' success. Most of the aspects of your business are affected by working ca.....

You can enhance your chances of getting a business loan without an ITR by following certain tested strategies. These include: Offer Collateral Some lenders may not require you to provide your ITR to approve your business loan if you offer collateral. It increases your eligibility and reduces.....

A term loan is a lump sum amount that an individual borrows for a given tenure at an interest rate. The repayment of term loans is done through EMIs. Meanwhile, LC is a credit or loan limit sanctioned by a bank to a borrower that allows him/her to withdraw small amounts from the total sanctioned lim.....

The two prerequisites that an MSME must comply with to be eligible for the registration are:   Your Udyog Aadhar Number (if you reside in the North East region, you will also need to share your registered mobile number (RMN) along with your Udyog Aadhaar Number)   Your PAN Number: If you are t.....

Here is the list of helpline numbers that entrepreneurs can reach out to resolve any of their queries:   For general queries: 011- 23063288 For administrative queries:  011- 23063800 For technical queries: 011- 23062354 In conclusion, as MSME sectors are significant contributor to I.....

If a company or other organisation decides to function as a training partner, they can avail a loan from NSDC. These loans are available at a lower interest rate of 6% p.a. For this purpose, they will have to first apply for it, and the NSDC will disburse the loan after assessing the essential param.....

The credit rating scheme for the performances of MSMEs refers to the rating of various MSMEs on different factors. The autonomous bodies are assigned the task of rating so it can work unbiasedly and help rank each MSME as per their performance.  The credit rating scheme for MSMEs gives the money le.....

The main responsibility of NEDFi is to offer financial support to micro, small, and medium enterprises as well as to large corporations. The support, however, is subject to the fact that the intent is to set up developmental projects in the North Eastern region of the country. These developmental p.....

As you can see, a personal loan and business loan differ from each other on several fronts. Personal loans cover a wide range of personal expenses that often require minimal documentation with no collateral. Business loans, on the other hand, are funds specifically designed for  business-related act.....

There are two ways to apply for this credit facility, which include online and offline methods:   Online Visit the lender’s portal. Enter important personal and business information along with the POS details. Complete the application by providing the data appropriately. The loan will .....

Here are some indirect loan offers facilitated by SIDBI that you should  know about: Assistance to NBFCs: SIDBI loans are available to NBFCs that are registered with the RBI and are involved in providing financing to the MSME sector. Refinance Scheme: Under different refinancing programs, SI.....

From loan terms to app ratings given by consumers, take a look at some essential features of these personal loan apps: Bajaj Markets Personal loans from over 20 prominent lenders are now easily accessible through the Bajaj Finserv Markets Loan App. Once can download the app on the App Store and .....

Although loan write-offs and loan waive-offs are both used in the context of bad debts, they are very different.    The key difference is that the lender initiates a write-off when loan recovery seems unlikely. In contrast, a waive-off is a relief the lender provides to borrowers.

A PAN card essentially helps the Indian legal system track every cash inflow and outflow into bank accounts. You need to have your PAN card or PAN number handy while carrying out the following: Paying income tax Buying a property valued over ₹10 Lakhs Applying for a loan Buying or sellin.....

When applying for an instant personal loan, you may be asked to submit the documents listed below: Identity Proof: Any one of the following PAN card Aadhaar card Voter ID Passport Driving licence Address Proof: Any one of the following Voter ID Aadhaar card Passpo.....

Let’s talk about a long-term plan to stay on top of your loan repayments. Build an Emergency Fund It’s essential to have emergency savings, some extra cash helps you to avoid problems. You don’t need to borrow when you need financial help, and you can pay bills with ease. The primary chall.....

Here are some essential factors to consider if you are a P2P borrower: Set Realistic Expectations Lenders will assess your debt-to-income ratio, credit history, and income streams. So, align your eligibility with your actual needs. Review Your Application Thoroughly check your peer-t.....

Although relatively complex to calculate, it is clear that a personal loan with a reducing balance interest rate system will be more pocket friendly for you. You can avail one from Bajaj Markets itself through any of our lending partners. As a Bajaj Markets user, you will be able to enjoy benefits s.....

Mainly there are four different premium loan insurance policies available as per the requirement of different investors: Single and regular premium reducing cover In these policies, the insurance premium amount keeps on decreasing based on the outstanding loan amount across the loan tenure. .....

BPLR system allowed banks the flexibility to offer varying interest rates to their customers. The rate at which a bank was interested to lend money to its different customers was defined as the Benchmark Prime Lending Rate or BPLR. There was no standardisation in the process and hence a lack of tran.....

There are several instances wherein it makes sense to go for a loan with negligible introductory APR, such as: Payment of previous debts such as a loan or credit card dues Expensive emergency expenses such as medical treatment of a chronic condition, repair of your bike or car after an accid.....

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement .....

These days, most banks have an online portal for personal loans. These portals are one-stop destinations for borrowers and all their personal loan needs. Some of the salient features of the online loan portals of banks are as under: Loan Application You can easily submit your loan applicatio.....

With the advent of the Aadhaar card and digitalisation, it has become easier to apply for a personal loan online. You are only required to show your Aadhaar card as KYC proof. Most financial institutions accept this single document as proof of identity, birth, address proof and citizenship.    The.....

As of now, banks and other financial institutions alike that operate in India do not offer No Credit Check Loans to borrowers. However, some of the institutions have no qualms over sanctioning the same even though the borrower has a bad credit score. It is said that secured forms of loans are the be.....

Following are the advantages of DSA personal loans. Improved Customer Service: DSAs follow a code of conduct to provide a smooth and satisfying experience to their customers. They will guide you at each stage of the application process. Doorstep Service: You are not required to leave your comf.....

You can avail loans from financial institutions such as banks and NBFCs (non-banking financial companies) to obtain funds for various types of requirements. In most cases, loans are earmarked for a specific purpose - a car loan is to purchase a car, a online home loan is to buy a house and an educat.....

The employee of the non-listed company will have to submit the following documents to get a personal loan from one of Bajaj Markets lending partners: A duly-filled application form along with a passport size photograph. An identity proof, an age proof and an address proof. Bank statemen.....

The Reserve Bank of India (RBI) provides certain guidelines to protect borrowers from harassment by lenders. Here are some key guidelines: Fair Practices Code Lenders must follow the regulations mentioned under RBI’s Circular DBOD.Leg.No.BC.104/ 09.07.007 /2002-03 dated May 5, 2003.  It covers ‘Gu.....

Failure to collect a Personal Loan NOC (No Objection Certificate) can have serious legal and financial implications. Here are the possible repercussions of not having one: Adverse Impact on Credit Score: A Personal Loan NOC is crucial for maintaining a healthy credit score, just like timely .....

Step 1: The sanctioned loan amount is subject to your personal loan agreement. However, you can opt to withdraw the amount you require from the pre-sanctioned loan. If you have a high credit score, you would be eligible for a higher loan amount at a reasonable interest rate. Bajaj Finserv Personal.....

Given the risks associated with becoming a personal loan guarantor, you should ideally refuse to become one. But, if the person is someone who is close to you, you must try to safeguard yourself as a guarantor using the following ways: Ask for a co-guarantor: If possible, you must ask the person .....

Whenever you are in need of some extra cash, you can always apply for a personal loan. But personal loan, as easy as they may be to get, they usually have a very high-interest rate, between 15 to 20%. So, if you have been paying high interest on your loan, a loan balance transfer is a good option fo.....

It is easy to track your line of credit. All you have to check is your monthly statement. To keep a regular tab on your line of credit, make sure to check the statement every month or every quarter.    Try to clear the pending outstanding before you withdraw an additional amount. Be proactive and .....

Submit Income Tax Returns: You can submit your yearly income tax returns as proof of your capacity to earn. This should help the bank understand your ability to repay your loan as per the agreed-upon repayment terms. Provide Bank Statements: If you are someone who deposits their cash salary int.....

Taking two personal loans at the same time can lead to: 1. Overborrowing  Overborrowing and multiple loans are synonymous. You may not need the entire amount of loan that is sanctioned. This can lead to an increase in unnecessary monthly payments. If you delay payments or are unable to repay t.....

The scheme was launched to encourage savings, and therefore, withdrawals and loans are subject to certain terms and conditions. While you can get a personal loan on a PPF account between the third and sixth financial year, premature closure is only available after the fifth year. However, even th.....

When applying for a signature loan, you will have to furnish the following documents:  Proof of identity: Aadhaar Card, PAN Card, Driving Licence, etc.  Proof of income: Latest salary/pay slips, latest bank statements, employment letter, etc.  Proof of address: House Tax Slip, Electricity B.....