Posts Tagged “Loan”

Is it okay to take a personal loan to pay off credit card bills?

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Is it okay to take a personal loan to pay off credit card bills?

Credit cards have increased the spending power of people. According to a report of CredoLab, a digital credit scoring platform, credit card user base in 2019 reached 470 lakh and the market is expected to grow at a compound annual growth rate (CAGR) of more than 25 percent during 2020-2025. On account of growing trend…

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Your Money: Five tips to boost your personal loan eligibility

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Your Money: Five tips to boost your personal loan eligibility

As an unsecured personal loan does not involve any collateral, it becomes imperative for the lenders to check whether or not you fulfil the eligibility criteria. Nowadays, in times of a financial crunch, getting access to funds has become more comfortable and convenient. One of the reasons is the readily available instant personal loan from…

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I took out a $2,000 personal loan even though I didn’t need the money, and it bumped my credit score from “good” to “very good”

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I took out a $2,000 personal loan even though I didn’t need the money, and it bumped my credit score from “good” to “very good”

In college, I worked hard to stay out of debt. I avoided taking out student loans by attending the school that offered me the best scholarship. In my mind, finances were black and white. Loans and debt were just plain bad. When I graduated, I knew it was time to start building credit. If I wanted…

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Should you get a personal loan to pay off credit card debt?

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Should you get a personal loan to pay off credit card debt?

In a perfect world, no one would need to take out a loan to consolidate and pay off debt. In the real world, however, there are times when borrowing money is the only way to dig your way out. This is mostly due to high interest rates on credit cards. With the average credit card APR currently…

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Top Reasons Why you need to get a Personal Loan

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Top Reasons Why you need to get a Personal Loan

When in dire need of financial assistance, the first step is deciding how you are going to borrow money. You can opt for a home equity loan or a credit card loan. However, seeking the service of a personal loan lender would be the ideal way to get money quickly. With personal loans, you get…

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Bitten by travel bug? Get a personal loan

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Bitten by travel bug? Get a personal loan

Have you been planning to take a break from work to recharge your batteries? Almost everyone keep dreaming of a holiday but not everyone can pull it through given the budget constraints. Indians seem to be letting loose their purse strings to go on vacations, shows figures from the travel industry. Indians spent Rs 6.5…

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Xiaomi’s Mi Credit allows you to get a personal loan (and other top stories of the day)

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Xiaomi’s Mi Credit allows you to get a personal loan (and other top stories of the day)

Starting with smartphones, Chinese smartphone maker Xiaomi has now ventured into the digital lending space. Earlier this month, Xiaomi launched Mi Credit in India, touting an easy application process for getting personal loans. Upon approval, the users have the option to choose the amount and the tenure of the loan. The app is available for…

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Auto loan vs personal loan: Which is a better option to buy a new car?

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Auto loan vs personal loan: Which is a better option to buy a new car?

Car makers offer big discounts and other consumer benefits such as exchange bonus and free accessories in the month of December Representative image  |  Photo Credit: BCCL New Delhi: Car makers generally offer attractive deals in the month of December. Plus, interest rates on bank loans have dropped, and dealers want to liquidate year-end stocks by…

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SBI, Bank of Baroda, Kotak Mahindra Bank offer personal loan in 59 minutes. How it works

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SBI, Bank of Baroda, Kotak Mahindra Bank offer personal loan in 59 minutes. How it works

Banks have now started offering in-principle approval of personal loan in less than an hour on ‘PSB Loans in 59 Minutes’ portal from this September. More than 25 public and private sector banks, including the State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda, Kotak Mahindra Bank and Union Bank of India will approve…

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4 Mistakes To Avoid When Taking a Personal Loan

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4 Mistakes To Avoid When Taking a Personal Loan

A personal loan is an unsecured loan offered by banks and non-banking financial companies (NBFCs). These are unsecured because a borrower is not required to pledge any asset—property, jewelry or car—to get the loan. For this reason, personal loans come with a higher interest rate compared with secured loans, such as a home or car…

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Follow these steps to repay your personal loan quickly

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Follow these steps to repay your personal loan quickly

Meeting needs can be difficult in today’s times considering how inflation has had an increasing effect on prices of goods and daily needs. The characteristic of the market slowdown and economic depression that the country is currently going through, expenses are mounting compared to income levels, thus, warranting the need to apply for personal loans…

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HDFC Bank personal loan 2019: Eligibility, rates, documents needed, features, other details

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HDFC Bank personal loan 2019: Eligibility, rates, documents needed, features, other details

According to HDFC Bank, all the resident Indians working in private limited companies or public sector undertakings including central, state and local bodies are eligible to get a personal loan from the bank. HDFC Bank charges a processing fee of up to 2.5 per cent of the personal loan amount  |  Photo Credit: PTI New Delhi: India’s…

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Gold loan vs personal loan: Which one to opt for?

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Gold loan vs personal loan: Which one to opt for?

Personal loan tenures are relatively short, which explains them not requiring collateral. Planning on a big-ticket spend but don’t have the money to bankroll it all? Or facing a family emergency and your savings are insufficient to bail you out? A fair few of us who have been in suchsituations feel that the most feasible…

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Personal loan application rejected? Some dos and don’ts to avoid rejection

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Personal loan application rejected? Some dos and don’ts to avoid rejection

Having a good credit score improves the chances of loan application approval but still there some other reasons which can lead to rejection. Given below are dos and don’ts to avoid rejection of application. Some do’s and don’ts to avoid personal loan rejection New Delhi: Personal loan is useful for the people who fall short of…

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