A personal loan is an unsecured sum of money lent by a bank, which must be repaid within a specified timeframe, usually in monthly instalments known as EMIs. While personal loans offer a quick and hassle-free way to meet financial obligations—whether for weddings, higher education, or purchasing a car—the interest rates tend to be higher … Read more
Staring at an acute financial crisis could compel you to explore an array of funding avenues. Among these, one of the most feasible ones is to raise a personal loan. A personal loan is an unsecured loan that can be used to meet urgent financial needs, such as a medical emergency, a wedding, a home … Read more
In today’s fast-paced world, financial crises can hit unexpectedly. Whether it’s a medical emergency, sudden job loss, or unexpected home repairs, having access to funds can make all the difference. Many individuals are turning to personal loans as a viable solution to navigate through tough times. But how effective are they in alleviating financial distress? … Read more
If you are a travel freak and have a wanderlust, then raising money for your indulgences may not always come easy. You could be travelling and spending at a frantic pace without having to worry over money at all. All you could, however, possibly do is to borrow money. And when it comes to borrowing, … Read more
If you happen to face a financial emergency or have a sudden need for money then you can explore the prospect of raising a personal loan from a financial institution. The financial institution could be a bank or a non-banking financial institution (NBFC). A personal loan is an unsecured loan that the borrower can raise … Read more
Personal loans are a convenient solution for meeting one’s immediate financial needs in today’s world. Whether it’s for a dream vacation, managing expenses, or advancing a career, personal loans have become a popular option for many. However, choosing the right lender can be challenging with so many options available. To make a smart decision, it’s … Read more
If you are staring at the shortage of funds on account of a wedding party that you have planned, an unanticipated emergency that has arisen, or a vacation that you have been looking forward to — you can arrange the money via a personal loan. You can raise a personal loan from a government bank such … Read more
The Reserve Bank of India (RBI) recently instructed banks and credit information companies (CICs) to update the credit information they collect at shorter intervals, i.e. once a fortnight rather than once a month. The instructions were issued on Thursday via a notification after the monetary policy statement by RBI Governor Shaktikanta Das. The central bank … Read more
When you are given a loan’s pre-approval, it usually has a minimal impact on your CIBIL score. This happens because it leads to a soft inquiry rather than a hard inquiry. In other words, loan pre-approval does not influence your CIBIL score in any significant way. Let us understand what is a soft inquiry. Pre-approval … Read more
CIBIL scores reflect your creditworthiness based on your credit history. Banks use this score as one of the key factors in their decision-making process at the time of assessing your loan application. While a high CIBIL score shows that you have a good credit history and are likely to repay your loans on time, banks … Read more