Archive For The “Personal Loan” Category

Personal Loan vs Credit Card Loan: Which is the right choice for you?

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Personal Loan vs Credit Card Loan: Which is the right choice for you?

Irrespective of what loan option you choose, compare their specification before opting for one. Credit card loans, along with personal loans, have become a way of life today as a large number of people prefer to go for these two types of loans whenever they need funds for something. However, while taking a loan, some…

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Know these 5 essential things before availing a personal loan in your 40s

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Know these 5 essential things before availing a personal loan in your 40s

With a family to support and enormous responsibilities to shoulder at this stage, it makes sense to weigh the pros and cons of taking a personal loan Representational image  |  Photo Credit: BCCL The need for cash during a sudden medical emergency, home renovations or children’s education are some of the unplanned expenses that can be…

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How lenders check creditworthiness before approving personal loans

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How lenders check creditworthiness before approving personal loans

When you apply for a personal loan, your credit report is often studied by the lender to assess your creditworthiness and understand how good you’ve been at managing credit in the past. Many financial technology companies currently active in the market employ risk-assessment algorithms to check the eligibility of applicants speedily and accurately. Perhaps the…

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Want personal loan? Experts warn you about what to do before applying

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Want personal loan? Experts warn you about what to do before applying

A personal loan is one of the major options that a loan applicant thinks of during a financial emergency. The reason behind that is  due to the disbursal of money being  fast and it doesn’t require any collateral or mortgage. Hence, a loan applicant opts for a personal loan without checking the interest rate applicable,…

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Personal loans: Four tips to get funds at low interest rate

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Personal loans: Four tips to get funds at low interest rate

Four tips to get the best personal loan at a low interest rate (Illustration: SHYAM Kumar Prasad) Source: Tax Guru A kind of an unsecured loan, a personal loan is a handy financial tool that is easy to apply and in most cases, hassle-free to repay. However, since you don’t secure the loan with a…

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Common Personal Loan Terms

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Common Personal Loan Terms

A personal loan serves an array of purposes – be it renovating your house, meeting medical expenses or funding your academic degree, a personal loan is one of the more versatile financing options available in the market. Here is a quick guide to some of the more common terms that you should have an idea…

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Gold loan or personal loan: Which one should you choose?

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Gold loan or personal loan: Which one should you choose?

As per RBI guidelines, up to 75 per cent of the value of the gold in the jewellery can be given as a loan. It is done after checking the purity of the metal and then ascertaining the market prices of gold. Representative Image New Delhi: Gold loan is a scheme where the applicant can avail…

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Know The Limitations On Taking Loan From Relatives And Friends

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Know The Limitations On Taking Loan From Relatives And Friends

The topic of discussion herein makes sense after the recent stir on a news piece that suggested that accepting personal loans would be banned under the banning of unregulated deposit schemes ordinance, 2019. And so, we will understand its likely implication on the personal loans which are taken from relatives as well as friends to…

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Credit card, unsecured loans drive banks’ credit growth – Is it a good news?

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Credit card, unsecured loans drive banks’ credit growth – Is it a good news?

There is continuous rise in banks’ credit growth especially due to small ticket size loans aka retail ones which include home loans, personal loans and vehicle loans. Retail has been driving loan growth at 15-17% and the share of retail loans is at 26%, an all-time high. Unlike 2017, where credit growth was hampered due…

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How to Get a Low Interest Rate on a Personal Loan

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How to Get a Low Interest Rate on a Personal Loan

The quicker you pay off loans, the more likely you will be seen as trustworthy to your lender. (Getty Images) The average interest rate on a two-year personal loan is 10.7 percent, according to the Federal Reserve. But depending on your credit history, income and other factors, you may be able to qualify for a rate in…

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Surprise RBI Repo Rate Cut 2019: Home Loan, Car Loan, Personal Loan EMIs to cost less – Check how you will benefit

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Surprise RBI Repo Rate Cut 2019: Home Loan, Car Loan, Personal Loan EMIs to cost less – Check how you will benefit

RBI Repo Rate Cut: After months of maintaining status quo over the key lending rate, the RBI today finally announced a Repo Rate Cut by 0.25%. The central bank had maintained the status quo in the last two Monetary Policy Committee meetings. The repo rate cut comes on the back several bonanzas announced for taxpayers in…

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Personal loans 101: How they work and who can qualify for them

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Personal loans 101: How they work and who can qualify for them

When you need cash, there are several reasonable ways to get it. You may be able to get a small loan from family or friends, and you can always apply for a credit card. But, there’s another option to consider that comes with certain advantages – and that option is a personal loan. While personal loans have…

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Five Things To Consider Before Taking Personal Loans

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Five Things To Consider Before Taking Personal Loans

Nowadays, it is very common to find a minimum of one email every day in your inbox telling you about pre-approved or instant loans. The marketing team of the banks, with the attractive advertisements, makes you feel like the loan offer has been made just for you. Do not fall prey to such traps. Keep…

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Live More, Do More with Car Loan and Personal Loan

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Live More, Do More with Car Loan and Personal Loan

Why wait for tomorrow to enjoy life, when you can do it today? Retail loan products such as car loan can help you make the most of the present moment. Ever thought about going on a vacation with your family or friends in your own car? How about driving to office in a brand new car to…

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