Personal loans: A double-edged sword for the middle class—Understanding the risks and benefits | Mint

Personal loans: A double-edged sword for the middle class—Understanding the risks and benefits | Mint

Source: Live Mint People in the middle class struggle with financial needs that outstrip what their available funds can cover while dealing with medical crises along with major expenses including weddings or higher education. A personal loan serves as an ideal solution when urgent financial requirements exceed available funds. Users need to understand all the…

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Personal Loans: What are the risks of borrowing money through digital lending apps? | Mint

Personal Loans: What are the risks of borrowing money through digital lending apps? | Mint

Source: Live Mint Borrowing money i.e., personal loan through digital applications can expose aspirational borrowers to various risks. These include high interest rates, hidden facts, aggressive recollection practices, cheating, harassment of all forms etc. Many borrowers generally don’t fully understand the terms and conditions of their personal loans, leading to the possibility of exploitation by…

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