List of Personal loan Articles

Personal Loan

Contrasting the Processing of Personal and Business Loans

To understand the difference between a personal loan and a business loan, it is essential to understand that applying for it generally involves a relatively straightforward documentation and application process. Personal loans often have shorter application timelines and can be processed quickly.

Reasons Why You Must Choose Personal Loan For Medical Treatment

A personal loan is a kind of unsecured loan that is usually offered by various financial institutions like banks, online lenders or credit unions to individuals to meet their personal expenses.

Personal Loan vs EPF Advance: Differences Explained

Personal loans and EPF advances are two of the most common financial solutions for individuals in need of immediate funds. Both offer a lifeline at times of financial stress and crisis. But each entertains their individual considerations and characteristics.

Why Should You Consider NBFCs For Personal Loan?

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.

What Are Payday Loans? Difference Between Payday and Personal Loan

personal loans tend to be more cost-effective compared to payday loans. These lower-cost personal loans provide borrowers with a longer repayment period, offering more time to pay off the loan compared to the short-term nature of payday loans.

Personal Loan Verification Process- What Must You Know?

The Personal loan verification process is conducted through online portals for documents such as PAN cards, Aadhaar cards, or passports. Once the documents are verified, the investigation team compiles and submits their reports to the loan officer responsible for personal loan accounts.

Personal Loan Status Check- How to Track?

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.

Useful Personal Loan Benefits You Need to Know

personal loan is virtually limitless, allowing you to apply for funding even if you haven't finalised how you'll use the money. However, some common and popular benefits of Personal Loan include debt consolidation, financing weddings, funding vacations, covering college tuition and expenses, undertaking home remodelling projects, and much more.

What Is the Impact of MCLR Hike on Personal Loan Rates?

MCLR, which stands for Marginal Cost of Funds based Lending Rate, is a benchmark banks use to establish their minimum interest rate. This rate is determined by considering factors such as the bank's cost of funds, operational expenses, and desired profit margin.

How to clear overdue payments with personal loans

An overdue amount in a loan occurs when payments are not made on the due date as per the agreement between the lender and borrower. This means there is an unpaid balance of money owed, which will start accumulating interest until it is paid off.

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