Personal Loan Blogs

Amortised loans are one of the many repayment options offered by lenders. When you opt for a loan, one of the most important factors to consider is the EMI. It includes a portion of your interest and principal, which you need to repay on a fixed date every month. Any form of credit, where your …

A loan underwriting is an important part of the loan process. It helps lenders get a clear picture of the creditworthiness of borrowers and their repayment ability. With the help of credit underwriting, lenders also determine the loan amount as well as other loan terms, including interest rate and tenure for an applicant. Typically, lenders …

Credit review or appraisal is an essential part of your loan approval process. To understand why it is done, think from the lender’s point of view. Lending is associated with the risk of late repayment or non-payment. To minimise this risk, lenders conduct a review to ensure they offer financial assistance to trustworthy borrowers who …

After closing the loan, acquiring a loan closure certificate or a No Objection Certificate (NOC) is essential. It helps prove that you have successfully repaid the loan. Keep in mind that your borrowing journey does not end when you repay. There are some legal formalities that you need to complete after successful repayment, too. One …

A balance transfer in a personal loan is an excellent option to manage your repayment and even save on interest. This facility allows you to transfer your loan balance from one lender to another, which is a feasible solution when a new lender offers a better interest rate than your current one. However, to make …

Different types of loans help you cover varied expenses by bridging financial gaps. Lenders, such as banks and NBFCs, offer loans based on your usage, eligibility and their internal policies.  You pay interest to enjoy the facility to borrow, so shopping for affordable rates should be your priority when you are looking to borrow. Planning …

A flat rate of interest differs from a reduced rate, so before you choose a loan, knowing which is better for you is important. Lenders offer various types of interest rates and a suitable option can lower your borrowing costs. Read on to understand flat vs reducing interest rates. What is a Flat Interest Rate? …

You may have heard of lenders who waive loans or write them off. When a borrower fails to repay the loan instalments for 90 days, banks and other lending institutions consider it a bad debt or a non-performing asset (NPA). That is when they take action by either waiving off loans or writing them off. …

Did you miss a few of your EMI payments? An overdue on a credit facility or loan refers to any situation when your loan instalment is not paid by the deadline. You may have missed the due date for many reasons, some of which may not be in your control. Knowing the loan overdue meaning …

Today you can finance an iPhone via affordable EMIs both online and offline with ease. Many lenders in India offer a plethora of short-term loans or credit card options that you can use to buy your iPhone.  With so many options, choosing one can be difficult, especially when you want to buy an Apple iPhone …