The Vibe Journal: Finance Blogs

Wondering if you can get a personal loan against a cash salary? The answer is yes. While salary slips are a common income-proof document required by most lenders, there are other options through which you can get funding even if you don’t have them.  From applying with a different lender to submitting alternate proof, here …

Offering a fake loan approval letter is a common tactic scammers use to entrap innocent people. Using a fake approval letter, lenders extend a lucrative and enticing loan offer, which can lead to huge financial loss if you accept it. Thankfully, identifying such attempts by fraudsters is not difficult if you know what signs to …

When you take a loan, three things decide how much you’ll repay in total — the loan principal amount, the interest rate, and how long you take to repay it. That’s why it’s super important to understand how these factors affect your loan and monthly budget.  By calculating the interest in advance, you can see …

Are you considering opting for a personal loan pre-closure? Repaying your loan before the tenure ends is a great and popular way to save on the interest. However, it is a decision you must make after careful consideration to ensure you get the maximum benefits. This is because you may have to pay penalties and …

Involving a loan guarantor when applying for credit is a smart decision to increase your approval chances. One of the most essential criteria lenders consider while assessing your loan eligibility is your credit score. If you have a low score or your previous experience at handling credit hasn’t been fruitful, you may find it difficult …

When opting out of the old tax regime, you may have many doubts, like ‘Is standard deduction applicable in the new tax regime?’ While the Interim Budget of 2024 did not propose any changes to taxation, the 2023 Union Budget eliminated multiple exemptions under the new tax regime.  However, there are certain deductions and exemptions …

To understand taxation in India, you need to know what is a direct tax and an indirect tax. Here are a few essential points: You need to pay direct tax to the government based on the income or profits you earn Contrary to this, you’ll pay indirect tax only if you purchase any good or …

An instalment loan is the most common type of credit that banks and NBFCs offer. Once you borrow a required sum, you need to repay the amount along with interest in affordable instalments within a specific timeline.  You can use the borrowed amount for the following purposes: To pay educational expenses To clear hospital bills …

Wondering, ‘Can I get a personal loan without ITR? Yes. Most lenders require self-employed applicants to submit their income tax returns to review their income and repayment capacity. However, some use alternative methods for this assessment, making loans accessible even when you don’t have your tax filing records.  Read on to learn how to get …

When there is a non-repayment of loan EMIs beyond a stipulated timeline, lenders can take necessary actions as per the RBI guidelines for loan recovery. This helps in enforcing fair practices in loan recovery and protecting the interests of borrowers and lenders alike. To know more about this concept, read on.  Loan Recovery Process Now …