Equated Monthly Installment, commonly called as EMI is termed as the payment made by the borrower to the lender (Banks, Financial Institutions, NBFCs) every month towards the repayment of the loan. It includes the principal amount with the accrued interest to be repaid every month till it gets waived off. In present scenario, many of…
Credit comes in many forms, including credit cards, mortgages, automobile loans, commercial loans and personal loans. Each type of these credits has a certain purpose attached to it, whether it is to buy a car, a house, monthly expenditure or any kind of financial or medical emergency that comes into our lives. A personal loan…
When you need to borrow, you might consider going for a Personal Loan or a Credit Card depending on your financial requirement. While credit cards are ideal for short-term and small expenses, Personal Loan, on the other hand, is a good option for high ticket spends. The decision to go for either of them usually…
With the digitized process everywhere, getting a personal loan is the most convenient option these days to beat the financial crunch. Gone are the days when we would have to stand in long bank queues with a bundle full of documents. With internet bank facility, everything is just a click away making the financial world…
SC has ruled that banks can invoke personal guarantees Industrialists whose personal guarantees helped corporate entities owned by them get big loans only to later default are in trouble now as the Supreme Court has ruled that banks can act against guarantors even as proceedings under the Insolvency and Bankruptcy Code are on. The State…
India Post Payments Bank to offer loans, MFs and insurance through third party affiliations As reported by PTI, the Indian Post Payments Bank (IPPB) will now team with banks and other financial institutions to offer loans, mutual funds and insurance policies to its customers. According to the official sources, the IPPB, as of now, will…
Muthoot Finance ventures into personal loans The Kochi-based NBFC, Muthoot Finance, has recently expanded its lending portfolio by foraying into personal loans. Through this new lending segment, the NBFC, as of now, will cater to the increased credit requirements of its salaried customers. The loan facility will be offered to customers across 20 cities in…
Nitin Lokhande, aged 35 years and resident of Mumbai, was over joyed when he came to know that his daughter got through her nursery admission in their area’s top-grade school. Performing all the admission formalities, such as submitting admission and annual fees, buying school dresses, paying transport fees, etc. made him utilise a large portion…
