Personal Finance Blogs

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NPA and SMA Classification – Everything You Must Know

As per the guidelines issued by the Reserve Bank of India (RBI), if an individual fails to repay the loan EMIs on time or defaults on the EMI payments, then the bank classifies the loan account of the individual as SMA (Special Mention Account) and NPA (Non-Performing Asset). The laws and guidelines relating to the classification of SMA and NPA issued by the RBI ...

What is Loan Overdue – Important Things to Know About It

Most people don’t hesitate to avail of a loan when they face a financial emergency. Today, there are different types of lenders in the market who provide various loans such as home loans, car loans, personal loans, etc. No matter the type of loan you avail, you are obliged to repay the same along with interest through EMIs (equated monthly instalments) until you repay ...

How to Improve CIBIL Score - Smart Tips

CIBIL score is the evidence of the credit history of individuals. Several lending institutions evaluate your CIBIL score to verify your creditworthiness. Therefore, you must maintain a good score, as it often determines whether you are eligible for a loan. The CIBIL score ranges from 300 to 900, and the higher your score, the more lenders will be ready to offer you a loan.

Understanding Personal Loan Disbursement Process

When you take out a personal loan, the lender will disperse the money in several ways. Depending on your agreement with the lender, the money may be sent to your bank account or directly to the vendor or service provider you are working with.This can seem confusing to borrowers who are not familiar with the process.

How To Avoid Hidden Charges When Getting Personal Loan

When you're in the market for a personal loan, it's important to be aware of all the potential charges you could face. Unfortunately, some lenders try to sneak in hidden fees and charges that can end up costing borrowers a lot of money, whether it is for emergency expenses like medical bills, an immediate purchase

Interest Rate on a Personal Loan in India

Many of us think of applying for a personal loan if we are short on funds and need some urgent finances to take care of immediate financial requirements. As such, a personal loan is readily available, and owing to the unsecured nature of the personal loan, it is also quite convenient.

Applying for a Personal Loan online? Here's a guide

Personal loans can provide funds to meet various unforeseen expenses. In order to avail it, you need to follow a few easy steps. The application process is also simple, as you can apply for a personal loan online. A personal loan is an unsecured loan. You don't need to keep any collateral to borrow it.

Reasons Why Personal Loan Demand is Increasing Every Year

Personal loans are one of the quickest and easiest ways to procure a significant amount of funds without hassle. Whenever you require an extra bit of money, whether it is for emergency expenses like medical bills, an immediate purchase or planned expenses like going on a foreign vacation, etc

Can a Personal Loan come with its own set of benefits?

A personal loan can be beneficial for meeting various financial requirements. For instance, you might require funds to pay for medical treatment or make an expensive purchase. During these times, rather than running from pillar to post asking for funds from friends and family