Personal Loan Blogs

Making a part payment of a personal loan or choosing any of the other prepayment options offers many benefits. It reduces your interest burden and makes you credit-free early. You can choose the right option to increase your savings by understanding how they differ.  Read on to learn the difference between these loan repayment methods. …

A term loan offers an excellent means of financing when a business experiences a shortage of funds. Businesses need capital to cover their day-to-day operations and capitalise on growth opportunities. These expenses include paying rent for the workspace, purchasing raw materials, paying suppliers and covering utility bills. Read on to learn what is a term …

The Cash Reserve Ratio Rate (CRR Rate) is a tool used by the RBI to manage money flow in the economy. It’s the percentage of total deposits that banks must keep with the central bank. This money doesn’t earn any interest.It may sound technical, but CRR impacts you too. It can affect your loan interest …

In businesses, a letter of credit (LC) from a bank has great importance in building trust and continuing trading even when you are short on funds. This document is especially useful in international import and export transactions when partnering with a new seller.  Getting an LC from your bank gives the seller a proof of …

Ever wondered what is accrued interest and why it’s important for your finances? Simply put, accrued interest is the interest that builds up on a loan, bond or investment over a specific time even before you pay or receive it.  Understanding it helps you:  Whether you’re taking a personal loan, buying a bond, or saving …

If you’re planning to take a loan, it helps to know what is prime lending rate. This rate impacts how much interest you’ll pay on credit cards, home loans or business loans.  The prime lending rate meaning is simple. It’s the rate banks give to their most creditworthy customers. But it also sets the base …

Knowing more about the differences in features of personal loans vs credit cards is important so you can choose the right one during times of need. To ensure you can meet and address your financial obligations, figuring out which of these supports your needs for quick and restrict-free usage is key. Read more below to …

When you apply for a secured loan, the value of the collateral you provide determines the loan amount you can get, which is referred to as the loan-to-value (LTV) ratio. Simply put, it is the ratio of the value of the asset you put up as collateral and the amount you receive as a loan.  …

Bridge loans are a type of financing option that, true to their name helps you bridge the gap between you and your goals. With advancements in fintech, getting loans for urgent requirements is now easier than ever. However, in some instances, you may face a delay and access to funds may take some time.  In …

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 …