Personal Loan Articles

Taking a loan can be a significant financial decision, so it’s best to make it a smart one by knowing why you need to borrow money is the most critical factor you need to consider. Borrowing money can either help you or hurt you depending on how you manage it. If you can’t make your loan repaymen.....

A personal loan is a fixed amount of money borrowed at a fixed interest rate and repaid over some time. You can easily avail personal loan from a bank or Non-Banking Financial Companies (NBFCs). Personal loans are usually unsecured loans which means you are not required to pledge any collateral. .....

When a borrower is unable to repay his/her EMIs for more than 90 days, the lender declares the particular loan account a ‘Bad Debt’. When a loan becomes a bad debt, the lender typically deals with it in two ways; either they will write it off or waive it off. One may think that these two terms ar.....

They key differences between a loan write-off and a loan waive-off are as follows:

Loans offered by lending institutions attract one of the two kinds of interest rates: reducing balance rate and flat rate interest rate. It is important to know what sets both of these two apart so that you can decide which one will work best for you. Read on to know more.

If you fail to pay your loan EMIs on time, you are considered a defaulter. However, most loan providers have what they call a ‘grace period’ which begins right after your EMI due date. If you pay your loan EMI within the grace period, you would not be considered a defaulter. The duration of this .....

With the universal permeation of digitalisation, you can now avail of a personal loan almost instantly. Today, many personal loan apps allow you to get an instant personal loan through their lending partners.....

PAN cards have become one of the most important documents that you must furnish while applying for a personal loan. And now, the latest KYC policies laid out by the Indian government state that you can get a personal loan easily with a PAN card. Read on to know more about the features, benefits, .....

Ideally, a loan is provided to a borrower after a complete screening of their credit score on the part of the lender is performed. This is done in order to be able to accurately assess the risk of non-repayment attached with a particular borrower.

However, there are some le.....

No Credit Check Loans, as the name itself implies, is best for those individuals that have a substandard credit history and/or a low CIBIL score. When it comes to sanctioning No Credit Check Loans, the lender can do the same without pulling up the borrower’s CIBIL report. However, given the overa.....

Full repayment of personal loan or any other form of loans is a relief that many simply cannot express in words, as it means that either the borrower has a smaller credit burden on themselves and/or they are practically debt free. However, in order to provide proof to the individuals representing.....

It is easier to get a personal loan if you receive your salary directly in your bank account as your bank statements will be proof of your loan repayment capability. But, to get a personal loan against salary that you receive in cash could be slightly tricky. However, it is not impossib.....

• 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 someo.....

A personal loan can be really useful when you are in urgent need of funds and help you get rid of financial binds. However, you must also repay it as specified to av.....

If you are facing any financial emergency or are trapped in any kind of debt, a personal loan can assist you in these kinds of circumstances. One of the best things about obtaining a personal loan is that you are not required to provide any security or asset against it as it is unsecured in natur.....

If you are a salaried & self-employed individual or a retired pensioner, you can easily obtain a personal loan in case of a financial emergency. However, if, as a salaried individual, you face a sudden job loss, self-employed persons face losses in their business or in case of temporary disab.....

Nowadays, many banks offer loans with a loan insurance policy, but whether to opt for such an insurance policy or reject it depends on the borrower's choice. There are multiple advantages of having a loan insurance plan; major ones among them are:

• In case any unfortunate inciden.....

With modern times, housewives have also given a new definition to balancing act by easily juggling both household chores and having a career. housewives nowadays are not only homemakers but also career-driven or ambitious to start a business of their own. 

However, of all the h.....

Apart from the different types of personal loan, gold loan, etc, that housewives can easily avail of, there are a few government schemes also put in place to help with personal loan for housewives: 

1. Pradhan Mantri Mudra Yojana for housewives

This scheme aims to en.....