The FinTech Hub
Source: Live Mint Over the past few years, the finance sector has witnessed technological advancements in almost all aspects of their working. Amongst these innovations, digital KYC (Know Your Customer) has become critical in providing you a completely digital and quick loan application experience. With digital KYC, instant personal loans have taken a huge leap…
Source: Live Mint A personal loan is the most preferred financing option by many as it does not require any collateral and can be used in multiple ways. However, a personal loan application may get rejected for several reasons. Rejection of a loan application does not mean you will never get a loan in the…
Source: Live Mint Before getting a personal loan to fund your expenses, it is important to know how to repay it to avoid extra charges over the existing amount. While paying the loan on the due date is an essential practice, paying off your loan before the due date has added benefits. Ways to pay…
Source: Live Mint When you apply for a personal loan, the banks consider different factors to determine the interest rate chargeable. Some of these are related to broader factors, like the macro interest rate scenario in the economy and RBI norms. Some relate to your profession and personal factors, like your credit score, past repayment…
Source: Live Mint Financial freedom is extremely important in every individual’s life. Loans and credit cards are some of the popular options for people who are in need of quick cash to cover their finances for a while. However, both of these credit options have a mandatory application process which is first assessed by lenders…
Source: Live Mint A personal loan may become a source of support at your time of need. On the other hand, ensure that you understand the terms and conditions surrounding the loan before committing yourself. Being informed helps you manage the process with confidence and make better decisions. Here are several things to note as…
Source: Live Mint Although applying for a personal loan might seem like a pretty big financial decision, having a co-borrower with you could make the process go easier. Let’s see how adding a co-borrower to your application would increase the chances of it getting approved and even possibly make the loan conditions better. Understanding personal…
Source: Live Mint In today’s fast-changing employment market, changing jobs very often opens up interesting new opportunities. However, these career changes might affect your financial plans, especially if you are looking for a personal loan. In most cases, lenders will pay much attention to the employment stability when considering a loan application. Here are some…
Source: Live Mint While availing a personal loan is typically a hassle-free process for salaried individuals given the regular nature of their income, self-employed persons have to go through the rigour of convincing the lender to get the same. Lenders require self-employed persons to have a minimum income, which can vary by location, and the…
Source: Live Mint Another component of our personal finance, where inflation leaves an impact is interest rates of personal loans. These interest rates fluctuate over time due to inflation and for the profit margin of the lenders along with maintaining purchasing power. Let us examine how personal loan interest rates are influenced by inflation and…
