Personal Loan Articles

Of late, Personal Loans have become more accessible. One of the main reasons for their popularity is that they allow you to utilize the loan amount for almost any financial need that you may have. For instance, you could use a Personal Loan for a vacation, an emergency, education fees, a wedding,.....

So, after a few hectic weeks at work, you’ve finally reached a point where a vacation seems absolutely essential. But before the thought of taking a vacation can calm you down or get you excited, you realise that you will have to account for your travel expenses.

Consider this situation. You’ve always wanted to get a small hatchback car for yourself. So, to be able to afford the said car, you’ve been consistently saving up a part of your income each month. However, when the time for purchasing the car finally comes, you see that the prices have risen and .....

Your savings might not always be enough to meet your financial needs. This is more so if the financial requirement is an emergency. In such situations, a Personal Loan can come in quite handy at helping you fulfil your fina.....

There are times when we need to borrow money to either cover expenses that keep piling up or to finance new plans like buying a vehicle, refurbishing your home, going on a trip abroad, or in the case of any emergency. The only other options that people have in these cases is to deplete their savi.....

A lot of Indians go out on a family vacation in May to get a respite from the sweltering summer heat and because it's the time of the year when most schools, colleges and educational institutions are on break. Selecting the perfect holiday destination is not difficult because of the wide range of.....

Personal loans are becoming an increasingly popular choice to fulfill large and unplanned financial commitments that need to be met over a short period. Personal loans are commonly used for -

1. Paying emergency medical bills

2. Managing expensive home renovations

A personal loan can help you tide over a variety of big-ticket expenses, along with providing funds for an emergency situation. Undoubtedly, these loans are most sought after. A Creditscape report issued by CRIF High Mark - a Credit Information Company (CIC) in India - has noted some distinct pat.....

The growth in the expenses of education has been unstoppable and continuous in today's time. In India, it can be discerned that the rise in the educational charge is more than that of the per capita income. If seen rationally the rise in the price is visible for the coming years as well. A common.....

With the outbreak of pandemic, many businesses had to stop their services which led to plunge in economic activities and contraction in loan demand across multiple sectors during April-June 2020. 

The significant reduction in loan demand dampened the sentiment among Indian lenders to.....

Weddings in India are a long and expensive affair involving many customs and rituals. What’s interesting is that throughout these wedding preparations, Indian people do not like to hold back from spending on jewellery, dresses, shagun, gifts, etc. But to host such a lavish wedding, yo.....

Progressions in technology have made it possible for most financial institutions to offer financial services online. There numerous monetary establishments that offer low-interest rates and included advantages credits. Not simply banks, even NBFCs have made the personal loan market a practical an.....

Managing your finances insightfully plays a significant role in maintaining your financial well being. There will always be circumstances, where you might require instant financing for your requirements. If you're unprepared, these circumstances can be a burden on your finances. In such cases, yo.....

For as many personal tasks you would like to fulfill, you will always have some financial obligations. To ease this burden, a personal loan is designed to provide a simple solution f.....

The synergy of finance and technology has produced some astonishing advancements in the personal finance and borrowing sectors. With Artificial Intelligence, Machine Learning, and sophisticated analytics, fintech has given us Robo Advisors, online payments, and convenient, quick loans. If you’re .....

Over the past two decades, the most widely visited and popular travel destinations for Indians have included South East Asian tourist attractions such as Singapore and Bangkok. However, the travel preferences have now altered after the pandemic and its restrictions due to the lockdown. Maldives h.....

Personal loans are one of the most ideal forms of lending. Being an unsecured loan, one does not require to provide any collateral to avail it. A personal loan helps in financing a variety of financial requirements. The loan funds can be utilised for all kinds of requirements, as long as you’ve b.....

If we take the current loan market into consideration, the process of getting a personal loan is more convenient today than it has ever been. Faster application-to-sanction processes, alternate credit eligibility criteria and flexible repayment options have allowed borrowers to be able to finance.....

A personal loan is the most preferred choice when it comes to loans. Most people opt for this loan due to its flexibility and ease of access to funds and unrestricted usage be it home renovation, wedding expenses,.....

With the start of the festive season, most people plan on decorating and renovating their homes. Getting a loan during the festive season is quite common, given that most people find it auspicious to purchase a new home, vehicle or buy gold during this time. Numerous banks and financial instituti.....

Almost everyone requires financial help at some point, and the most preferred way to get financial assistance is by applying for a personal loan. An unsecured personal lo.....

Due to the economic decline and an atmosphere of financial uncertainty caused by the pandemic, the Indian government announced an additional three month extension for term loan moratorium, making the end date now the 31st of August, 2020. This provided relief to millions of Indian who were strugg.....

36% of Indian travellers are eager to satiate their wanderlust by travelling in the next 3 months, as revealed by a recent survey conducted by Zostel. Close to 32% of the respondents are planning to wait till the year end and resolve to travel in the next year.(2) If you too are among those confi.....

Travel has long emerged as one of the best ways for people to unwind. As the modern lifestyle begins to draw a greater strain on people, more and more people choose to de-stress by travelling to exotic locations, both with their families and alone.

With travelling becoming a coveted form .....

Various expenses such as a medical emergency, a wedding, child education or a high-value purchase may require you to avail a loan. Instead of covering it via a credit card, a personal loan may be a better choice. Unlike other types.....

Taking a loan can make sense when you can comfortably afford the repayments for the duration of a loan term. Personal loan in.....

We tend to turn to a personal loan when we need money urgently. For instance, if there’s a medical emergency to be dealt with, if we are planning a trip to our dream destination, or chalking up an expensive wedding. Personal loan interest rates are generally high since they are mostly unsecured d.....

 Whether you’re planning on going for a vacation, looking to renovate your property, or cover medical expenses you can take care of it all by simply applying for a personal loan. The best part about a personal loan is that you’re not required to pledge any of your personal and valuable asset.....

There are numerous ways to use a personal loan, it can cover all kinds of financial requirements. Applying for a personal loan is fast and simple, as it is an unsecured type of loan, this loan does not require any collateral as security. Many banks and financial institutions grant loans based on .....

The Personal Loan Calculator helps in determining what monthly payments and total costs would be over the life of a loan. Whenever you avail a loan, your EMI is influenced by the final loan amount that you borrow, along with the repayment tenure. Since most loans come with fees and/or insurance, .....

A Personal Loan can be used in numerous ways to ease financial crunches. However, getting a personal loan also means that you need to close that loan within a specific period to avoid any late penalties. As you come closer to your last EMI repayment, you might have a plan for your future finances.....

The Reserve Bank of India recently announced an extension on loan moratorium for another 3 months in May this year. Individuals and companies with outstanding loans as on March 31, 2020 were offered the option to avail a further respite from June 1 till August 31, 2020 for repayment of their loan.....

Personal loans are a convenient source of gaining access to funds for personal use regardless of whether they are intended to be utilized in making large purchases, as capital for a venture or in dealing with unexpected financial situations. They are usually unsecured loans and have no collateral.....

The world of millennials in the 21st century of financials has two words that are both a boon and bane - credit cards. But you can’t just blame the lifestyle and economic situation, because there is always a chance for an emergency. When it comes to

With the current pandemic outbreak being an ever-present feature of our current reality, it is more important than ever to be financially prepared. This is particularly true if you are planning to apply for a personal loan  to meet your current requirements or any needs that may arise in the.....

The pandemic stress has increasingly become a regular part of our lives. The declining economy, uncertainty in markets and rising unemployment have created restlessness in public. These difficult times have led to concerns about the near future and fear of restricted income that might be insuffic.....

The impact of the pandemic outbreak caused a major concern for borrowers regarding their EMI payment. Hence, the RBI offered a relief package where the borrowers will be able to stand the benefit from the policy rate cuts, and a moratorium on all loans. The three-months moratorium deferred the pa.....

Everyone requires financial help at some point in their life. There are a lot of reasons why most people opt for a loan. Whether it be for your travel expenses, payment of bills or getting a new home. And there are a lot of loan options available for all kinds of financial requirements. Sometimes.....

The ongoing lockdown disrupted the cash flow of the economy. Almost everyone has been impacted in some way or the other but reality has hit harder for those who have experienced pay-cuts and job losses. This makes it difficult to pay bill payments and manage other necessities. Managing personal f.....

Be it for an immediate emergency or to bring a long-term plan to life, there are a number of occasions when you might find yourself in need of some financial assistance. For individuals and families in Hyderabad, one of the most preferred modes of such financing tends to be availing personal loan.....

There are various situations in which individuals might find themselves in the midst of a financial shortcoming. Some of them can be expected such as being unable to meet the budget for a big purchase, while others can be unexpected such as a sudden medical emergency. In the attempt to meet this .....

As everyone is affected by the nationwide lockdown, it is a tough time for all facing cash crunches. Even salaried individuals are facing pay cuts and unemployment. So, to ease the financial strain, many banks and NBFCs are offering

A Loan waiver and Loan write off are two different concepts of dealing with bad loans. Many people who are unaware of different financial terms and quotes get confused with the actual definition of these terms. Though the nature of both Loans Waive-offs and Loan Write off may seem to be almost si.....

A personal loan is a fixed amount of money borrowed at a fixed rate and repaid over a fixed amount of time. You can avail a personal loan from a bank, credit union or online lender. Personal loans are the unsecured type which means it requires some type of collateral. In that case, lenders look a.....

Medical emergencies can be frightening as it brings with them a lot of responsibilities that you are unprepared for. To get the best course of treatment in case of a medical emergency, you would require adequate funds to take care of all your medical expenses. Unfortunately, people don’t always h.....

A personal loan is a fixed amount of money borrowed at a fixed interest rate and repaid over some time. You can easily avail personal loan from a bank or Non-Banking Financial Companies (NBFCs). Personal loans are usually unsecured loans which means you are not required to pledge any collateral. .....

The unfortunate reality is that it is surprisingly easy to default on education loans. The cost of higher education is rising. At the same time, there’s a rise in the number of fresh graduates in certain career streams. In case of a student loan, just missing out on a few payments can lead to a d.....

Almost everyone has a moment where you sat at the computer wistfully dreaming of quitting the stressful routine and living a little. Modern life is busy, there’s a lot of responsibilities at work, family, friends and it’s easy to get caught in the cycle without pausing to think about your actual .....

In recent years, there has been a significant rise in the number of women entrepreneurs across the country. In order to further encourage women entrepreneurs, the Indian Government has introduced several schemes such as Annapurna scheme, Udyogini scheme, Mudra yojana scheme, etc. to support them .....

Your Credit Information Bureau India Limited (CIBIL) score plays a crucial role in determining whether your loan application will be approved or rejected. CIBIL score, commonly known as credit score, determines your creditworthiness and your repayment capacity. Thus, the higher your credit score,.....

Every year thousands of students across the globe leave their home country to fulfill their dreams of studying abroad. They go in search of better opportunities and exposure to the careers that wish to pursue. Some countries have specialization in various courses whether its fashion, business or .....

Personal loans come handy in times of sudden financial needs. If you currently have a financial liability that needs immediate attention, you can opt for a personal loan to take care of it. The lenders offer the flexibility, which enables you to use the money for any purpose. You can use it to re.....

If you have any debt, it becomes your primary goal to take care of it at the earliest. You might incur various kinds of debts in your lifetime, but probably a medical debt is the worst of them. It can make anyone feel ashamed. However, you must not count it as a failure. Sometimes, you do not hav.....

The world is rapidly changing, and you can see the evolution in today’s work culture as well. As the market is opening up to newer professions, you can get your dream job anywhere in India. However, it is not easy to get a well-paying, respectable job in this extremely competitive market. Having .....

CIBIL (Credit Information Bureau India Limited) is a credit information company that collects and records the credit-related activities of customers across the country. Financial raw data is used to obtain credit scores and credit information reports. The credit scores obtained are in the form of.....

In today’s competitive age, all of us desire to have a luxurious lifestyle. If not, at least own a decent house, car, travel abroad, etc. But what if monetary limitations restrict you from realizing your desires. This is where a personal loan can come to your rescue. Nowadays, with the help of le.....

Half the financial year is over and if you still have not done your tax planning, it is the time now. Paying the taxes as per the regulations is mandatory; however, there are some ways in which you may reduce the liability.

Financial planning is the process of determining ways to manage your money and the amount you need to earn, invest and spend. By planning your finances, you put your money such that you reach your life goals. What you do now to manage your finances may not be 100% accurate and it may need to be c.....

Taking a loan can be a significant financial decision, so it’s best to make it a smart one by knowing why you need to borrow money is the most critical factor you need to consider. Borrowing money can either help you or hurt you depending on how you manage it. If you can’t make your loan repaymen.....

When handling money, there has always been a perception that women don’t like to or are unable to manage their finances, investments and taxes independently. However, this situation has changed over the years and women are now actively participating in money-related decisions. Women in India cons.....

Travelling nowadays has become an important part of modern millennial life. Millions of people all over the world travel about their own countries and abroad as well. People travel for business purposes or to visit destinations surrounded by natural habitat to get away from their busy city life a.....

In recent years, the Government of India has taken several initiatives to promote financial literacy amongst the citizens. Government programs such as Financial Education Training Program (FETP), Comprehensive Financial Inclusion Plan (CFIP), Financial Awareness and Consumer Training (FACT), etc......

Financial emergencies can take a toll on your savings. However, with the help of a personal loan, you can overcome this problem quickly and in a hassle-free manner. A personal loan can be used for various purposes.....

A personal loan is your financial savior in case of any urgent capital crunch. Unlike most loans, a personal loan is an unsecured type of loan. Thus, a borrower need not provide any collateral against it, as a form of security. Moreover, the loan can be availed for any personal reasons such as, p.....

Your wedding is one of the most important event in your life. To make it extra special, you tend to look for different ways and inspirations. Well, one way to make your wedding memorable is by having a wedding theme. Your wedding style can determine the best theme that f.....

Borrowing is a convenient option for most of our financial needs. You can buy what you want without exhausting your current savings or finances. However, if you don’t manage your debts in a responsible manner, you may end up in a debt trap.

If you are currently in the process of planning a wedding, you are likely to enjoy the endless food samples and making difficult decisions like whether to have a chaat counter or a candy station at the reception. However, planning a wedding is not just about food counter.....

A loan balance transfer involves transferring the outstanding balance loan amount on your existing loan from one financial institution to another. The basic concept is that you ‘refinance’ your existing loan by paying off its outstanding balance by availing a new loan. T.....

Personal loans are “all-purpose loans”. You can avail them for fulfilling any personal or financial need, such as paying expensive medical bills, funding a business venture, arranging grand wedding functions, investment purpose, etc. Many banking and non-banking financia.....

Availing a personal loan is the most preferred way to manage instant funds. Personal loans are no-qualms loans. You do not have to provide any collateral as a form of guarantee. Also, they can be availed for any personal reasons, which makes their application and process.....

A personal loan is your best bet when there is an immediate need for funds. A personal loan can be availed for debt consolidation, paying medical bills, redecorating your house, starting a new business venture, funding your travel plans or any other personal purpose.

A personal loan is often the best choice when you are in need of immediate capital. Today, availing a personal loan from any bank or NBFC’s (Non-Banking Financial Company) is much less of a hassle as compared to availing any other type of loan. As a result, people often .....

While choosing a personal loan provider from the plethora of options available in the market is comparatively easy, convincing them that you are competent to repay it is always the tricky part. Since a personal loan is a type of unsecured loan, a lot of thought goes into an applicant’s personal l.....

Opting for a personal loan is the best option when you are facing a financial crunch. As the name suggests, a personal loan is a type of loan that can be used for any personal purpose. Most personal loans are unsecured in nature, meaning that you do not have to provide any collateral as a form of.....

Personal loans are multi-purpose loans that enjoy high demand in the financial market. These loans are unsecured (you do not have to provide any collateral against them) and offer flexibility in terms of their repayment options as compared to the other types of loans. No.....

When faced with a situation that demands immediate financial respite, an online personal loan is your best go-to option! There are several advantages of applying for a personal loan online. Some of them include: