The FinTech Hub
Source: Live Mint When you apply for a personal loan, the bank or NBFC considers various factors for loan approval. Some of these include your age, monthly income, credit score, profession, debt-to-income (DTI) ratio, etc. The DTI ratio is an important factor for deciding on loan eligibility, amount, etc. So, what is the DTI ratio,…
Source: Live Mint In today’s fast-paced world, personal loans have become essential financial tools for various needs, from home improvements to medical emergencies. However, the ease of obtaining these loans often overshadows the significant consequences of failing to meet monthly payments, commonly known as EMIs (Equated Monthly Instalments). Defaulting on your EMI obligations can severely…
Source: Live Mint When considering a personal loan, one key factor to evaluate is the loan tenure, which refers to the repayment period agreed upon between you and the lender. Understanding the differences between short-term and long-term tenures is essential for selecting the option that best suits your financial situation. Also Read | Why do…
Source: Live Mint Personal loans have become an essential financial tool for many, offering quick access to funds for various needs—be it medical emergencies, weddings, or travel. However, one of the most crucial factors to consider when taking out a personal loan is the interest rate. A lower interest rate can save you significant money…
Source: Live Mint For any financial emergency or any other purpose, you can rely on personal loans. They are quick and easy to get, provided you meet the eligibility criteria. They are collateral-free. You don’t need to tell the bank or NBFC the purpose for which you will be using the personal loan money. The…
Source: Live Mint Financial constraints are a reality for many at some point in their lives. In challenging times, taking out a loan can provide temporary relief. However, this can sometimes lead to a more significant problem known as a debt trap. What is a debt trap? A debt trap occurs when you take on…
Source: Live Mint Facing an immediate medical emergency or relocating for a new job can evoke a mix of emotions—worry, excitement, and the added concern of securing funds. In such situations, personal loans can offer a viable financial solution. A personal loan provides a lump sum amount that can be quickly transferred to your bank…
Source: Live Mint If you want to raise an instant loan to meet immediate financial need which could range from a medical emergency to paying for a vacation, make sure that you get the best deal possible. One of the key factors to consider is that the interest on personal loan does not carry any GST on…
