From tax-saving tips, ways to manage your loan to personal finance — this is the ultimate finance blog for all your queries.
No, you will not go to jail simply for defaulting on a personal loan in India. That fear and it is a very common one; is not grounded in law. Personal loan default is a civil matter, that’s it. Lenders can chase you through courts, report you to credit bureaus and in some cases seize collateral. But handcuffs? Not for a missed EMI. There …
A personal loan for corporate employees is an easily accessible and popular credit option. This unsecured loan is customised for employees of large organisations so that you can get it quickly and affordably. Whether you are a government employee or working at an MNC, you can manage sudden and planned expenses without burdening your budget …
Availing of a personal loan for gifting is a straightforward and rapid solution for arranging the funds you need. The funding you get comes with no restrictions, so you can use it for umpteen expenses, including giving special gifts to your loved ones. Read on to know why you should choose a personal loan for …
Your personal loan EMI can either strain your monthly budget or fit into it comfortably. A lower EMI leaves more room for other goals, bills and an emergency fund. If you’re wondering how to reduce the EMI on an existing personal loan, you have several options. You can prepay part of the loan, move it …
✦SUMMARY This guide explains whether you can take two personal loans at the same time, what a parallel loan is, and how it differs from a top-up loan. You will also find the key factors lenders evaluate for a second loan, the risks to weigh before applying and practical alternatives to consider. Read time: about …
The main difference between a mortgage loan vs personal loan is simple. A mortgage loan is a secured loan backed by property, while a personal loan is unsecured and can be used for many personal needs. This one decision affects your interest rate, loan amount and repayment period as a borrower. If you are confused …
The RBI guidelines for personal loans set the rules that every bank and NBFC must follow. These guidelines decide how lenders charge interest, verify applications, share loan details and recover EMIs. They exist to keep the borrowing process fair, transparent and safe for every customer. They also protect you from hidden charges and unethical recovery …
Small personal loans are unsecured loans designed for relatively smaller, short-term funding needs. Because many lenders now offer them online, they can be useful when you need quick access to funds for an urgent or planned personal expense without pledging collateral. Depending on the lender and your eligibility, you can choose a suitable loan amount and …
There is no fixed list of fake loan apps because scammers keep launching new ones under different names. Some commonly reported names linked to loan scams include Insta Loan, Maxi Loan, RupeeGo, Lendkar and CashBus. What matters more is knowing the warning signs. Fake loan apps often ask for unnecessary permissions, charge fees upfront, hide …
Want to apply for a personal loan with a CIBIL score of 600? Know that it can be challenging as most lenders prefer a higher score. Your score represents your creditworthiness, and therefore, holds great significance for your eligibility. Here’s a tabulated overview of what the score implies: Credit Score Meaning 800 – 900 Excellent …