The FinTech Hub
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…
Source: Live Mint The desire to be your own boss often fuels the ambition for wanting to start your business. Of course, this kind of financial approach might seem convenient sometimes when you’re a little low on cash, while personal loans require careful considerations of both benefits and disadvantages before choosing to borrow money from…
Source: Live Mint Personal loans provide ready access to money, but with responsibilities and downsides. Knowing when to seek a personal loan is the secret to sound financial decisions. Here are closer looks at when it makes sense to take out a personal loan. Understanding personal loans A personal loan allows you to borrow a…
Source: Live Mint If you are planning to get a personal loan, one key factor to keep in mind is the interest rate. The interest rate is the cost of borrowing money, expressed as a percentage of the total amount of the loan. A low interest rate will signify a low cost of borrowing, whereas…
Source: Live Mint While planning to get a personal loan, it is extremely important to be clear with your requirements and needs so that you only borrow the amount which you really require and avoid any unnecessary burden on your finances. EMI calculator is a useful tool which you can use to plan your personal…
Source: Live Mint Before getting a personal loan, various factors such as credit history, banks, income, and employment type, among many other factors, may determine interest on your loan. These factors are directly related to the borrowers and lenders. However, there are certain factors beyond the control of a borrower and a lender that may…
Source: Live Mint Personal loans are one of the quick sources of funds that cater to a variety of purposes such as debt consolidation, house repairs, and even sudden medical bills. Still, there are risks involved, which should be evaluated carefully like any other financial tool. In order to help you in making smart financial…
