Often people run out of funds, especially when they have an important event of life coming up for which they need money. Be it a child’s college fee, their marriage, or most unexpected – a sudden accident or illness. At such times, people turn to banks for loans. To borrow a loan, you must have […]
The Reserve Bank of India (RBI) has released the draft guidelines on base rate computation. (Base rate is the rate below which banks cannot lend to any consumer.) As per the proposed draft, banks will have to take marginal cost of funds as basis to calculate the base rate. Currently, banks follow different methods — […]
Borrowing money is the first option that comes to mind when we are faced with a medical emergency or fall short of funds for making down payment on our new house. And, the most common form of loan taken at such junctures is personal loan. Now while some may approach a bank or a non-banking […]
With so many lending institutions in the fray, it can be confusing to choose the right lender. However, no matter whom you finally choose as your lender, knowing a few things before applying for the loan will help you secure a good deal. After all, every paisa saved is a step towards earning a rupee! […]
In an attempt to reduce the time taken to process personal loan and increase customer comfort, Axis Bank has launched a new personal loan facility called “24*7 Instant Personal Loan”. The service can be enjoyed by customers who have an Axis Bank mobile app on their smartphone. The service primarily targets customers with good […]
Long weekend or planned annual breaks, vacation with friends are something we all look forward to. The sun kissed beaches of Goa or the majestic hills in the north lure us towards them and given any chance we will be off without second thoughts. However, have you ever wondered if you are spending less time […]
Keeping a tab on your credit score is extremely important in today’s loan-intensive lifestyle. Credit reports today have become mainstays of any card or loan application. They disclose how your past behavior has been with respect to secured and unsecured debt. Therefore, banks look at an applicant’s credit report before making any decision. Simply put, […]
Personal loan is often refered to as an all-purpose loan as you can use the money as you please. It’s a good way to generate short-term liquidity. However, at times, commonplace errors lead to loan rejection. Avoid making the following mistakes to quicken your loan approval process: Not Clarifying the Details For Taking the […]
Structurally personal loans and credit cards are similar as they are both forms of unsecured debt (i.e. no collateral for either). Additionally, both require dedicated monthly repayments (EMIs for a personal loan and monthly payments for a credit card), they offer different features and interest rates. Selecting a credit card or a personal loan depends […]
