Personal loans: THESE are the 5 key reasons for which it is not unreasonable to borrow
1 month ago

Personal loans: THESE are the 5 key reasons for which it is not unreasonable to borrow

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If you are planning to raise a personal loan, remember that there are certain reasons for which it is not unreasonable to take a loan. To buy a luxury item: When you are keen to buy a luxury item, and you are short of funds, then it is not wrong to raise a personal loan. In that case, it is not wrong to raise a personal loan to be able to purchase that luxury item. For higher education: Although one should rely on student loans for higher studies, it is recommended to meet the gap between what you need and what is on offer via personal loan. For vacation: Again, this is not a highly recommended thing to do -- you can raise a personal loan to go on a vacation when you keenly want to go on a break.

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History of this topic

Planning to borrow? THESE features make personal loans quite different from others
1 week, 5 days ago

Planning to borrow? THESE features make personal loans quite different from others

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Are you facing a financial crisis and contemplating borrowing money from a bank as of now? For the unversed, personal loan is a form of borrowing which enables applicants to use money for a range of activities which could vary from organising a wedding to going on a vacation. While you can raise a home loan for anywhere between 9-10 …

Personal loan: Why raising it for travel may be avoided? Here are key reasons
2 weeks, 5 days ago

Personal loan: Why raising it for travel may be avoided? Here are key reasons

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Personal loans: If you are planning to raise a personal loan it is important to note that this should be meant for something important. Some of the key reasons for raising a personal loan include an emergency, home renovation, tuition for higher education and to host an important function such as a wedding or a reception. Therefore, there is no …

What not to do with a personal loan: 6 key pitfalls to avoid
3 weeks, 3 days ago

What not to do with a personal loan: 6 key pitfalls to avoid

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These days, personal loans are one of the easiest loans to get. To know about the various offers available and choose the best one, you must compare the personal loan features and benefits from various financial institutions. Action point:Always compare personal loan offers from multiple lenders and get the best deal. Making unnecessary purchases with the personal loan amount Because …

5 key reasons for raising personal loan to organise a wedding
1 month, 2 weeks ago

5 key reasons for raising personal loan to organise a wedding

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Weddings are an important occasion in everyone's life. Unavailability of other options: Although you could use your fixed deposit, raise short term credit from a friend or even sell some gold jewellery if you have. Healthy credit mix: When you are a credit card user, and use it heavily for buying merchandise, you could use a personal loan for a …

Personal loans: Should you opt for it in case of home renovation?
2 months ago

Personal loans: Should you opt for it in case of home renovation?

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There could be a number of reasons to raise a personal loan. Renovating a home is seen as an investment and therefore it does not harm to raise a personal loan for the same. These are some of the reasons when it does not hurt to raise a personal loan for the home renovation. If you want to put the …

Personal loan: 6 key reasons for which you could consider taking a loan
2 months, 2 weeks ago

Personal loan: 6 key reasons for which you could consider taking a loan

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If you are a new investor and looking for immediate funds, then you can explore the idea of raising a personal loan. Key reasons for which one can raise personal loan: I. Therefore, you could consider raising a personal loan to be able to buy that gift. There could be a medical emergency, or you need money to help a …

Personal loan: Want to borrow money on low salary? Make note of these 5 points
2 months, 3 weeks ago

Personal loan: Want to borrow money on low salary? Make note of these 5 points

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If you are planning to raise a personal loan and have a low salary, you don’t need to fret! Most banks offer personal loans to the borrowers who draw a lower salary, however this is subject to certain conditions. If you are planning to apply for a personal loan, you must make sure that you meet the eligibility criteria. Before …

Psychology behind personal loan decisions: How your mindset affects borrowing – check here
3 months ago

Psychology behind personal loan decisions: How your mindset affects borrowing – check here

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Personal loans have become a popular choice amongst people who are looking for quick cash to cover their expenses or if they need some financial assistance for an upcoming event or a luxurious vacation. Let us understand the psychology behind personal loan decisions Fear of missing out Fear of missing out plays a significant role in personal loan decisions. This …

Why do Indians raise instant personal loans? From home renovation to holiday travel, here are the top 8 reasons
3 months ago

Why do Indians raise instant personal loans? From home renovation to holiday travel, here are the top 8 reasons

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Raising an instant personal loan is not uncommon anymore among middle-class salaried people. Since you have already exhausted your home loan limit, you might opt for a personal loan. However, when you need access to urgent funds to pay for your child’s fee while you don’t intend to burden the child with a loan, the feasible option is to raise …

Personal Loan: 5 key strategies to lock interest rate before it spikes
3 months, 1 week ago

Personal Loan: 5 key strategies to lock interest rate before it spikes

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If you are planning to raise a personal loan in the near future, it is important to carry out an exhaustive background search. These are some of the key points one should remember when it comes to the raising of personal loan at the lowest possible rate. Five key personal loan strategies Fixed rate of interest: Typically, personal loan interest …

Choosing the Right Type of Personal Loan for You
3 months, 2 weeks ago

Choosing the Right Type of Personal Loan for You

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Among the diverse financial products available today, personal loans stand out as a flexible and accessible option for individuals looking to meet their financial needs. Whether it's consolidating debt, funding a wedding, or managing unexpected medical expenses, personal loans can be the bridge to achieving your financial goals. Types of Personal Loans Understanding the different personal loan types can help …

When should you take out a personal loan? 7 key scenarios
3 months, 3 weeks ago

When should you take out a personal loan? 7 key scenarios

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Personal loans provide ready access to money, but with responsibilities and downsides. Understanding personal loans A personal loan allows you to borrow a specific amount of money and pay it back in fixed monthly instalments over a specific period. Higher education: In case you do not have sufficient money to pay for training or tuition in full, you may use …

Personal loan: Where to apply for it? Here are 5 key options
3 months, 3 weeks ago

Personal loan: Where to apply for it? Here are 5 key options

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In case you fall short of money and urgently need it, one of the most feasible options is to raise a personal loan. One could raise a loan from a bank such as SBI, HDFC Bank, Kotak Mahindra or Bank of Baroda, among others. Alternatively, you could Here we list out key ways to raise a personal loan: 1.Bank: Raising …

Personal loan for self-employed: 7 key tips to follow to overcome challenges
3 months, 3 weeks ago

Personal loan for self-employed: 7 key tips to follow to overcome challenges

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If you are short of funds, it is acceptable to explore the prospect of raising a personal loan to meet your needs. Typically, before banks disburse a personal loan, they examine the past few months' salary slips and CIBIL score. Shorter tenure: Banks may usually offer shorter loan repayment tenures to self-employed borrowers, thus leading to higher instalments. Reconciling actual …

6 consequences of personal loans: What you need to know before signing up
3 months, 3 weeks ago

6 consequences of personal loans: What you need to know before signing up

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Personal loans are one of the quick sources of funds that cater to a variety of purposes such as debt consolidation, house repairs, and even sudden medical bills. High interest rates: As personal loans are not secured, they normally come with higher interest rates than other secured loans like mortgages and auto loans. Paying off debt with loans: Personal loans …

Personal Loan: 6 crucial things you need to know before borrowing
3 months, 3 weeks ago

Personal Loan: 6 crucial things you need to know before borrowing

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If you are planning to take a personal loan, it is important that you keep a few aspects in mind before you start with your application process. 6 key factors to consider before applying for a personal loan Understand your credit report: Credit score plays a major role in the personal loan approval process. Beware of misleading offers: Many lenders …

Personal loan: Before zeroing in on a lender, make note of 7 key points
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3 months, 4 weeks ago

Personal loan: Before zeroing in on a lender, make note of 7 key points

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If you are all set to borrow a personal loan, then the first and foremost thing that you need to do is to zero in on a bank to borrow the money from. It is recommended that you choose the best personal loan provider after examining your financial needs, carrying out a thorough research, and comparing different lenders and their …

Planning to borrow? A beginner’s guide for personal loans 2025
3 months, 4 weeks ago

Planning to borrow? A beginner’s guide for personal loans 2025

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Being in a financial crisis is pretty normal for any of us at any time. One should, however, compare the interest rate charged by your bank with that of other banks that are offering personal loans. Opting for NBFC: When a bank is unwilling to offer a personal loan, you can always approach an NBFC or non banking financial corporation …

What are the benefits of raising a personal loan over other financing options?
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3 months, 4 weeks ago

What are the benefits of raising a personal loan over other financing options?

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Are you short of funds and exploring different ways of raising money? There are multiple ways to do so such as personal loan, instant loan, credit card loan and loan against an asset such as gold or securities. Benefits of raising personal loan over other financing options: 1. Instant options available: Thanks to technology, one can raise a personal loan …

Personal loan: 10 key questions to ask yourself before opting for it
4 months ago

Personal loan: 10 key questions to ask yourself before opting for it

Live Mint  

If you are suddenly short of funds and do not wish to borrow from friends then one of the options that you can avail is to raise a personal loan. However, before raising a personal loan, make sure that the interest rate is not exorbitant, time duration is optimum, and the lender is reliable, so on and so forth. Let …

Personal loans: These are the 5 key reasons to borrow money. Check list here
4 months, 1 week ago

Personal loans: These are the 5 key reasons to borrow money. Check list here

Live Mint  

If you are falling short of money while you buy an important item for yourself or someone else, then you don't need to fret. Whether you want to spend money on a wedding, or buy an expensive jewellery for your partner or want to go on a vacation -- you can take a personal loan to meet your need. But …

3 Key Reasons to Consider a Personal Loan for Financial Emergencies
5 months ago

3 Key Reasons to Consider a Personal Loan for Financial Emergencies

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Personal loans offer a practical solution for various financial needs, including home renovation, quick cash, and life event expenses. By consolidating multiple loans into a single personal loan, you can simplify financial management and avoid missed payments. Additionally, fixed interest rates provide predictable monthly payments, helping you avoid missed deadlines and improve your credit score over time. However, it's important …

Personal Loans: 3 smart reasons to consider borrowing for your next big expense
6 months, 2 weeks ago

Personal Loans: 3 smart reasons to consider borrowing for your next big expense

Live Mint  

Whenever you fall short of money or stare at a sudden shortfall, all you typically think of is to raise a personal loan. These, and many more, are some of the key reasons for which it is not uncommon to raise a personal loan. Best Personal Loan for you at lowest interest rate Instant Apply Here we present three key …

Impact of personal loans on financial planning: Here are the pros and cons
10 months ago

Impact of personal loans on financial planning: Here are the pros and cons

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Personal loans can be both beneficial and detrimental to financial planning. Best Personal Loan for you at lowest interest rate Instant Apply Access to funds for specific financial goals. Consolidation of high-interest loans, such as credit cards, into a single personal loan with a reduced interest rate to save money and simplify repayment. Personal loans integrated into financial planning This …

Personal loans pros and cons that you must be aware of
1 year ago

Personal loans pros and cons that you must be aware of

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A personal loan represents an unsecured borrowing arrangement available from institutions such as banks or credit unions. Best Personal Loan for you at lowest interest rate Instant Apply Characteristics of personal loans The demand for immediate funds is a widespread challenge, whether it’s an unexpected medical emergency or an unplanned wedding. : Due to the absence of collateral that lenders …

5 bad reasons to take loan
6 years, 1 month ago

5 bad reasons to take loan

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Mumbai: Did you know that personal loans are one of the most expensive loans? To fulfil you 80C investment needs If you are taking a loan to invest in 80C instruments because you don’t have the lump sum amount required at the end of the financial year, you need to stop doing it. Most don’t have a lump sum and …

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