Personal Loan Blogs

The reasons for personal loan requirements are many as there are no end-use restrictions on the funding you receive. As such, you can tackle several needs without any hassles or financial strain. Here are the top 8 instances where it can be an ideal option.  When Should Take Out a Personal Loan? Know more about …

Buying a high-end smartphone doesn’t always mean paying the full amount upfront. With EMI options, you can split the cost into smaller payments. This makes it easier to fit into your budget. Whether it’s the latest flagship or a feature-packed mid-range phone, EMI for mobile phones makes it affordable. And it helps you avoid straining …

Wondering if you can get a personal loan against a cash salary? The answer is yes. While salary slips are a common income-proof document required by most lenders, there are other options through which you can get funding even if you don’t have them.  From applying with a different lender to submitting alternate proof, here …

Offering a fake loan approval letter is a common tactic scammers use to entrap innocent people. Using a fake approval letter, lenders extend a lucrative and enticing loan offer, which can lead to huge financial loss if you accept it. Thankfully, identifying such attempts by fraudsters is not difficult if you know what signs to …

When you take a loan, three things decide how much you’ll repay in total — the loan principal amount, the interest rate, and how long you take to repay it. That’s why it’s super important to understand how these factors affect your loan and monthly budget.  By calculating the interest in advance, you can see …

Are you wondering how to close a personal loan early and save money on interest? The preclosure of a personal loan (also called foreclosure of personal loan) lets you repay your entire outstanding loan amount before the end of the tenure. This not only reduces your interest outgo but also helps you become debt-free sooner.  …

When applying for a loan, one common question borrowers have is: ‘Can I still get approval if my credit score is low or my income is insufficient?’ This is where a loan guarantor plays an important role. A guarantor increases your chances of getting loan approval because lenders feel more secure about repayment.   If your …

An instalment loan is the most common type of credit that banks and NBFCs offer. Once you borrow a required sum, you need to repay the amount along with interest in affordable instalments within a specific timeline.  You can use the borrowed amount for the following purposes: To pay educational expenses To clear hospital bills …

Wondering, ‘Can I get a personal loan without ITR? Yes. Most lenders require self-employed applicants to submit their income tax returns to review their income and repayment capacity. However, some use alternative methods for this assessment, making loans accessible even when you don’t have your tax filing records.  Read on to learn how to get …

When there is a non-repayment of loan EMIs beyond a stipulated timeline, lenders can take necessary actions as per the RBI guidelines for loan recovery. This helps in enforcing fair practices in loan recovery and protecting the interests of borrowers and lenders alike. To know more about this concept, read on.  Loan Recovery Process Now …