List of Personal Loan Articles

Emergencies and unexpected expenses can strike any moment, leaving you needing immediate financial support. Whether it's a medical bill, a vehicle repair, or any unforeseen expenditure, a 2000 Rupees loan can relieve you. So, through this article, we will delve into how a person can secure a loan of Rupees 2000 urgently.

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.

Promissory note is a written promise to pay a debt. It is a financial instrument, in which one party (maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed, determinable future time or on demand of the payee subject to specific terms.

The current digital age has witnessed profound changes across various aspects of our lives, particularly in the finance sector. Lengthy paperwork and in-person verification procedures are gradually being replaced by more efficient methods. One such innovation is Video KYC (Know Your Customer), which has revolutionized the way banks and financial institutions operate.

Personal loans can cover a wide range of expenses, from medical procedures for a loved one to financing home improvement projects. Essential to research the specific amount of money you require and compare the various lenders available to you. By doing so, you can pave the way for a better future for yourself and your family.

The phrase “CIBIL Defaulter” does not appear in anyone’s CIBIL report, nor is it a legal term. Borrowers with very low CIBIL scores (less than 650) are called CIBIL defaulters because they are highly likely to have regularly missed payments on their credit commitments in the past.

A personal loan overdraft facility enables anyone to withdraw excess funds whenever they require money urgently. This facility also entitles you to an interest payment applicable only on the specific amount you use.

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.

Personal Loans cater to various purposes without requiring collateral, whether applied online or through traditional offline channels. However, due to their unsecured nature, borrowers must adhere to strict rules and regulations to secure loan approval. Once the Personal Loan application is successfully processed, you must check your personal loan status, and borrowers can do so using the following methods.

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.

Personal loans can serve as a lifeline during financial emergencies. They offer convenience and flexibility, but you need to be vigilant about hidden charges in personal loans that might catch you off guard. While the interest rate is the most apparent cost, there are many other charges associated with personal loans that you should know to make well-informed decisions.