Do you need to pay GST on personal loan EMIs? The answer is no. However, it’s levied on processing fees and other charges. Being aware of these tax implications beforehand helps you manage your repayments without much hassle. This is because these charges can impact your borrowing costs significantly. As you may know, taking a …
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loans are tools that help to fund various expenses. Expediting your career can be one of them. After all, education is known to be the best investment. If you are looking for career growth without having to invest a fortune from your savings, a career loan can help you get started. This type of loan …
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A loan is an easy way to access funds for both strategic and unexpected needs. However, disbursing the loan amount to your bank account involves many steps. One among them is getting your personal loan sanction letter from the lender. Read on to know more about this letter and how you can get it. Meaning …
Loans are easy and quick to apply for without risking any assets. However, there are several factors for you to consider before applying for instant personal loan to ensure that it is the right choice for you. Read on to know what they are and how you can avoid common mistakes while applying. Factors to …
Whether it is a solo trip or a holiday with friends or family, taking a vacation is essential to feeling recharged and refreshed. Rising costs of travel and stays, however, can delay your trip or result in a dip in savings. Loans for holidays offer a simple solution to avoid this and enable you to …
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To fulfil some dreams, you don’t need to wait for your savings to stack up. With personal loan, you can cover varied expenses, be it purchasing a new gadget or a vacation. But what if you have exhausted your existing loan and need additional funds? To cover the expense of such needs, you can get …
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Knowing how do personal loans work is crucial as it will help you secure quicker and more seamless access to funds. A personal loan can help you achieve your planned goals or meet urgent needs. Whether it is to remodel your home, upskill yourself, or pay for medical emergencies, it is a fast and convenient …
The personal loan disbursement process is an important aspect you must know when applying for a loan. This is because the disbursement process directly impacts the timeline of when you will get the funds. Additionally, this process varies for every financial institution and the time taken to complete the process also differs. To understand the …
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NBFCs are non-banking financial companies that can offer credit and investment options. NBFCs are known to be more technology-focused as compared to traditional banks. An instant personal loan by NBFC is usually easier and faster to avail. However, the NBFC personal loan interest rate may sometimes be higher than that offered by a bank. Read …
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The RBI guidelines on foreclosure charges on personal loans prohibit lenders from levying this charge on credit with floating rates. The prepayment charges apply if you decide to repay your loan amount in a single payment before the end of the tenure. Usually, personal loan foreclosure charges vary between 2% and 6% of the outstanding …
