One of the biggest concerns while availing a personal loan is the variety of fees and charges that are associated with it. The total cost of loan goes up tremendously due to these allied expenses that come along with a personal loan whose rate of interest is already higher than the other loans. Therefore the customer… Read More »
Personal loans are among most easily accessible capital when one needs it. The processing is faster and the requirement of documents is relatively simpler. Any persona with a decent credit rating and repayment capacity can avail such a loan in a matter of hours from any financing institution. However the rational utility of taking such… Read More »
Personal loans have been around for quite some time and are one of the most commonly employed means of raising funds it times of requirements. As the name suggests these loans are not meant for any specific purpose and the customer is free to use the money in whatever manner he desires. Contrary… Read More »
Should you go for a personal loan? The answer depends on your circumstances. If you have a pressing need for cash, and don’t have any assets, but own a credit card, a personal loan is certainly advisable. This is because cash withdrawal using your card is far more expensive than a personal loan. But if… Read More »
When in times of an urgent requirement of funds most people think of a personal loan as the only option. However, there are several types of other loans available in the market, which can be used to raise capital for various requirements in a critical situation. Availing a personal loan though may sound pretty tempting… Read More »
The key to getting the best rate for a personal loan is by maintaining a clean credit history. Your credit history is recorded by the credit bureau (CIBIL) which in turn gives you a credit score. This is shared with banks. Banks will use this as the key parameter for determining the rate of interest… Read More »
These are some basics that you should know when obtaining a personal loan. These days, securing a loan is easy. Repayment is the tough bit. When you don’t repay on time, the recovery agent may come knocking at your door. When getting a personal loan it is important to ask yourself ‘Will I be able… Read More »
A pre approved personal/home/car loan is usually offered by banks to people who have a clean track record of loan repayment history, like in my case. You get it even if you had pre closed your earlier loan amount. Some banks pre approve a loan to its own customers even if they had not… Read More »
More often than not many of us consider a personal loan as the best option to meet contingencies. Opting for a personal loan without studying its terms and conditions and services could cost you more than what you intended!
Once you have identified the fund boxes — Spending forecast, contingency fund for job loss and medical expenses, be dedicated and generate your money flow into these funds consistently. This could be once a quarter but it would be more manageable if it’s once a month.