List of Personal loan Articles

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Personal Loan

What is prepayment penalty on personal loan

Prepayment penalty on a personal loan is a fee charged by lenders to borrowers who repay or partially repay their loan before the end of its term. This penalty is designed to compensate for the lender’s lost revenue and can range from 1-5% of the outstanding loan amount, depending on the lender’s policy.

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How personal loan part payment work

Part Payment of Personal Loans refers to when borrowers make additional payments towards their loan, which are over and above the regular installment. This helps reduce the principal amount owing, thereby reducing the total amount of interest payable on the loan.

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What are benefits and features of personal loan sanction letter

A Personal Loan Sanction Letter is a document issued by financial institutions or banks confirming that your personal loan application has been approved. It's an official document that provides details of the loan amount, repayment tenure, and other pertinent information.

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Personal Loan for Senior citizens

A personal loan for senior citizens can help them purchase items such as cars or medical equipment, pay off existing debts, renovate their homes, or cover other unexpected expenses. Whether it’s an emergency expense or a planned item purchase, this type of loan can provide seniors with the funds they need when they need it most.

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Tricks to Identify Personal Loan Scams in India

It is important to be aware of the signs and symptoms of personal loan frauds so you can protect yourself from becoming a victim. In this article, we will discuss some tips to identify personal loan scams in India.

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How to get Loan on Aadhar Card

Aadhar Card is a unique 12-digit identification number issued by the Government of India to every Indian citizen. It serves as an important document for various purposes such as identity proof, banking, and other activities.

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How to get personal Loan without a guarantor for low CIBIL Score

A low CIBIL score should not stop you from receiving the funds you need. A range of lenders have tailored their services to cater to those with less-than-ideal credit scores - typically offering loans for borrowers who have had financial difficulty in the past.

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How to Get Personal Loan without Bank Statements

Getting a personal loan without bank statements and salary slips is possible. However, there are certain factors that must be taken into consideration when trying to secure financing in this manner. Having a good credit score and low FOIR are essential for loan approval as they show lenders that you can make regular payments on time.

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What is moratorium period in personal loan

Moratorium period meaning refers to a pre-decided window of time, typically 6 months or more, where lenders grant borrowers relief from making their loan repayments. During this period, the interest amount still accrues on the unpaid principal but does not require any repayment until the moratorium period expires.

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How much personal loan can I get on my salary

The maximum personal loan that you can get is also dependent on your salary or income. The higher is your salary, the more is the amount that you can raise, through personal loan. Lenders deduct your essential monthly expenditures to calculate your net disposable income.

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