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Source: Live Mint Are you planning something significant in your life, such as a wedding, remodelling your home, or that long-awaited bucket list vacation? At times like these, a personal loan can be a convenient source of finance. However, before applying, however, you’ll need to provide the following documents to the lender: In this article,…
Source: Live Mint Being one of the most important yet ignored segments of banking costs, interest rates are directly proportional to the personal loans you are willing to pay towards the borrowed money. Knowledge of those rates, factors affecting them, and how best to achieve maximum will greatly assist in financial planning. In this article,…
Source: Live Mint Loan repayment is the process of paying back borrowed funds with interest over a specific period of time. It is an important component of personal and business finance ranging from small personal loans to bigger mortgages and corporate credit. Properly managing your loan repayments is vital for financial stability and protecting your…
Source: Live Mint If you are planning to raise a personal loan for any amount then remember that your equated monthly instalment (or EMI) is contingent on two factors i.e., time duration and rate of interest. Among these two factors, amount of EMI is directly proportional to the rate of interest that the bank charges,…
Source: Live Mint Personal loans are one of the most sought after products in the field of finances, since they fulfil the need for instant money for any purpose. Personal loans can be rather beneficial and convenient at the same time as it has its advantages and on the other side it also has the…
Source: Live Mint Personal loans are the most widely applied financial tool when the individual has an urgent need, such as medical, house improvement, or rescheduling debts. weight is given to interest rates, but processing fees and even hidden costs are significant cost drivers when it comes to a loan. Only if one understood these…
Source: Live Mint Over a period of time, the use of personal loans has extended to cover almost all possible needs of any individual, for example, loans for home renovation, medical expenses, etc. These loans are very useful but still remain flexible and easy to use.. Yet, as much as they may all be termed…
Source: Live Mint Personal loans have become a popular choice amongst people who are looking for quick funds to cover a big event or are planning a luxurious vacation and need some backup cash or are in some emergency and need urgent monetary assistance. Interest rates play a major role in determining your potential EMI…
Source: Live Mint Before applying for a personal loan with any bank, NBFC, or fintech, make sure you check the eligibility criteria. Without fulfilling the eligibility criteria, your application will be rejected resulting in disappointment. The credit score plays an important role in personal loan approval. The other factors include the individual’s age, income, employment,…
Source: Live Mint Are you planning to apply for a personal loan but are confused whether to go for a secured loan or an unsecured loan? Many banks and Non Banking Financial Companies (NBFCs) provide personal loans which may or may not require collateral. However, before you choose one, it is important that you first…
