Personal Loan 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 …

Getting a personal loan for investing in stock markets, also known as leveraging or gearing, can sometimes be a smart decision, offering excellent benefits. No wonder why most investors use this technique to accumulate sizeable corpus.  Apart from stock markets, wherein the returns depend on market climate, you can invest in traditional avenues like fixed …

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 …

The principal amount, interest rate and tenure are the key loan terms determining your total repayment amount. Given this, it’s crucial to calculate the impact of these factors to determine if the loan fits your budget. Calculating total interest payable depends on the interest rate and the tenure and is a simple calculation. Doing these …

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 …

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 …

‘Can I buy a car in cash?’ This is one of the most common questions that pops up when you decide to purchase a vehicle. On second thought, if you are wondering whether you should opt for a personal loan for cars rather than paying it entirely by cash, there are several things you need …