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.

Simple interest is generally used for short-term loans and in some types of investments. It is most prevalent in scenarios where the interest is not re-invested or added back to the principal during the term of the loan.

Your CIBIL score is a crucial factor in determining whether you may acquire a loan and on what terms. Your chances of receiving an affordable sanction with flexible terms increase if your credit score is above 750, which signals solid financial health.

One can get tax exemptions on interest paid on personal loans under certain circumstances. It is the purpose of your personal loan that determines whether you’ll qualify for tax savings.

The full form of NBFC is a Non-Banking Financial Company, which represents a financial institution that provides various financial services similar to that of a traditional bank but doesn’t hold a banking license. The financial regulatory authority regulates the operations of these NBFCs in the respective countries.

MSF is a very short term borrowing scheme for scheduled commercial banks. Banks may borrow funds through MSF during severe cash shortage or acute shortage of liquidity.

As a salaried individual, you might be curious about the loan possibilities when your monthly income stands at ₹30,000. This article is your guide to understanding the loan landscape for this income bracket. We'll explore available loan types, eligibility factors, and how lenders evaluate your application.

Eight prevalent myths that have framed a false conception about personal loans in the mind of people. By debunking all personal loan myths, this article aims to empower the readers with accurate information and shed light on the actual truth beneath them.

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.

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.

Credit cards have often been reviled as a one-way ticket to debt. However, this is a little unfair because getting into debt is, quite often, your own conscious decision which stems from overspending.