List of Personal loan Articles

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Personal Loan

What Are the Different Types of Personal Loans in India?

The various types of personal loans discussed above offer a quick and convenient solution to address short-term financial requirements, such as unforeseen emergencies and unexpected expenses. These loans provide immediate access to funds, making them an excellent option for individuals who may have been turned down for credit elsewhere.

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How Can a Personal Loan Provide You with Tax Benefits?

While the Indian Income Tax Act does not specifically mention any special deductions for personal loans, it does provide tax deductions for other types of loans, such as education and home loans. However, this does not mean that individuals cannot avail tax benefits for personal loans. In the absence of specific provisions for personal loans in the Income Tax Act, the purpose for which the personal loan was obtained is taken into consideration to determine eligibility for tax deductions.

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What Are the Legal Consequences of Personal Loan Default in India?

Personal loans in India are specifically intended for individuals experiencing financial difficulties, so they must repay the loan within a specified time frame. Before taking a personal loan, it is crucial to reasonably ensure that you can settle the outstanding dues per the terms and conditions. It is essential to avoid defaulting on any payments.

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What Is the Difference Between Personal Loan and Personal Overdraft Loan?

Seeking to raise funds via banking channels, there are two choices: a personal loan and an overdraft loan. Now, the question arises: which option is better - an overdraft or a personal loan? To choose the most suitable choice for handling your financial emergency, let's delve into the distinctions between an overdraft and a personal loan.

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What Is the Maximum & Minimum Tenor for A Personal Loan?

A personal loan can be borrowed for various purposes, such as consolidating debt, funding home improvements, or financing special events like weddings. These loans are available from credit unions, banks, NBFCs etc.

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Know About The Personal Loan Overdraft Facility

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.

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How To Get A Personal Loan When You Have A Bad Cibil Score

Typically, lenders prefer to approve or grant loan applications from borrowers with excellent credit ratings. Given their low risk to the lender, such candidates receive better loan terms and cheaper interest rates. However, what if you need a personal loan but have a low CIBIL score?

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How To Get A Small Personal Loan

Small personal loans come with the least amount of paperwork required and the lowest interest rates in the business. In this article, you’ll learn everything possible about a small personal loan.

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Personal Loan Without A Salary Slip

Salary slip reassures the lenders and accelerates the loan application procedure. They strongly believe that personal loans to salaried individuals would be easily repaid within a specific time frame.

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Track The Application Status Of Your Personal Loan

As an applicant, your options for moving forward will remain unclear as you won’t know the loan’s status. So, let’s continue reading to learn how to track personal loan application both online and offline.

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