Is it advisable to opt for personal loan over a credit card? Here’s what you need to know
1 month, 3 weeks ago

Is it advisable to opt for personal loan over a credit card? Here’s what you need to know

Live Mint  

If you possess one or more credit cards and you have an urgent financial requirement to meet, then you can ideally choose one of the two options: either you can raise a loan, or you can make the payment through a credit card. Interest rate: The rate of interest charged by a bank on a personal loan is relatively lower than what they usually charge for a credit card. While you may get a personal loan for as low as 12 percent per annum, credit card charges an interest as high as 36 percent a year. Pre-approved offers: While you are about to use your credit card for meeting an expense, there could be a pre-approved loan offer waiting for you. If you are planning to withdraw cash via credit card then it is not recommended at all since it leads to an exorbitant interest.

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History of this topic

8 smart tips to keep your personal loan from becoming a debt burden
1 week, 6 days ago

8 smart tips to keep your personal loan from becoming a debt burden

Live Mint  

If you stare at a financial crisis and need funds urgently – you will invariably have a temptation to raise a loan. Now with a range of fintech platforms offering loans aplenty, it is highly unlikely not to opt for a personal loan. Choose the right tenure: Shorter tenure means higher EMIs but lower overall interest whereas longer tenure means …

How to avoid the pitfalls of easy personal loans? 5 key points to note
3 weeks, 4 days ago

How to avoid the pitfalls of easy personal loans? 5 key points to note

Live Mint  

While personal loans are being made easily accessible in India, they are a solution in waiting for money to fulfill all possible needs, be it a health issue or weddings. Five things worth considering before availing a personal loan are listed below: Personal loans can come with high interest rates Personal loans can come with high interest rates, typically between …

Personal loan interest rates: 7 key factors that impact your borrowing costs
1 month, 3 weeks ago

Personal loan interest rates: 7 key factors that impact your borrowing costs

Live Mint  

Personal loan interest rates can significantly impact the cost of borrowing and should be carefully considered before applying. On similar lines consistent business performance helps self employed borrowers ensure obtaining loans on lower interest rates. Clarity on the borrowing terms, interest rates, repayment tenure and associated issues brings absolute peace of mind for the borrower and helps in facilitating a …

Nithin Kamath sees debt crisis from personal loans, credit cards in next 2 quarters
2 months, 1 week ago

Nithin Kamath sees debt crisis from personal loans, credit cards in next 2 quarters

Live Mint  

Zerodha co-founder Nithin Kamath sees the trend of rising credit card and personal loans and ballooning debt in the next two quarters, which will likely result in a surge in default, uprooting the financial stability of families. “After the pandemic, there's been a big increase in personal loans and credit card borrowings. Check credit card rules and fees: It is …

Best personal loan options in 2025: Top 10 banks with low interest rates
2 months, 1 week ago

Best personal loan options in 2025: Top 10 banks with low interest rates

Live Mint  

If you are in need of quick funds to cover your financial needs for a while, personal loans can be a great option for you to consider. Indian Bank Maximum loan amount: Up to 20 times of monthly gross salary Processing fee: 1% of the loan amount Loan tenure: Up to 7 years 4. 10 lakh Processing fee: Up to …

Loan against credit card vs. personal loan - What should you choose? 6 key factors to consider
2 months, 2 weeks ago

Loan against credit card vs. personal loan - What should you choose? 6 key factors to consider

Live Mint  

When you want to raise a personal loan, you may have an option to raise it against a credit card rather than opting for a conventional personal loan. Typically, loan against credit card is a pre-approved one and conversely, a regular personal loan has to be applied for. On the other hand, a regular personal loan carries a relatively lower …

Personal Loans For Big Purchases: Here Are Some Of The Pros And Cons
3 months ago

Personal Loans For Big Purchases: Here Are Some Of The Pros And Cons

ABP News  

A personal loan is a practical option for financing significant purchases or one might need for the unplanned purchase. Here Are Some Of The Advantages Of Taking A Personal Loan Fixed Interest Rates Unlike credit cards, which often have fluctuating interest rates, personal loans typically come with fixed rates. Potential For Lower Interest Rates Personal loans often have lower interest …

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

Choosing the Right Type of Personal Loan for You

Live Mint  

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 …

Personal Loan: 6 factors that determine your interest rate
3 months, 2 weeks ago

Personal Loan: 6 factors that determine your interest rate

Live Mint  

When you apply for a personal loan, the banks consider different factors to determine the interest rate chargeable. Macro interest rate scenario Depending on the macro interest rate scenario in the economy, banks decide the interest rates chargeable on personal loans and other loans at a broader level. Your higher credit score can help you get a personal loan at …

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

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

Live Mint  

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 …

Pros and cons of personal loans: Is borrowing right for you?
4 months, 1 week ago

Pros and cons of personal loans: Is borrowing right for you?

Live Mint  

Personal loans are one of the most sought after products in the field of finances, since they fulfil the need for instant money for any purpose. Personal loans are usually repos which are meant to meet specific needs despite the fact that as much as lenders set caps depending on your income and your ability to repay. No collateral required: …

Understanding Personal Loan Interest Rates: Key Factors to Consider
5 months ago

Understanding Personal Loan Interest Rates: Key Factors to Consider

Live Mint  

Personal loan interest rates in India are influenced by various factors, including credit score, income, and repayment history. A high credit score and stable income are generally associated with lower interest rates, while a history of timely repayments and low default rates can lead to more favourable terms. Other factors such as loan purpose, employment stability, and the lender's risk …

Personal loans for big purchases: Here are the pros and cons
10 months ago

Personal loans for big purchases: Here are the pros and cons

Live Mint  

A personal loan presents a viable option for financing significant purchases. In contrast to credit cards, which may have variable interest rates based on your creditworthiness or the state of the market, personal loans provide peace of mind. Possibility of reduced interest rates: Interest rates on personal loans are usually lower than those on credit cards, especially for borrowers with …

Should you use a personal loan to pay off credit card bills? Pros and cons here
11 months, 1 week ago

Should you use a personal loan to pay off credit card bills? Pros and cons here

Hindustan Times  

Managing your finances can be a difficult task. Using a credit card offers a variety of benefits: rewards and bonuses, positive credit history making taking loans easier. Well, using a credit card offers a variety of benefits: rewards and bonuses, positive credit history making taking loans easier, funding expenses in cases of emergency, budgeting finances by keeping track of your …

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

Live Mint  

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 …

Personal Loans to Meet your Financial Needs
3 years, 3 months ago

Personal Loans to Meet your Financial Needs

Deccan Chronicle  

The advent and rise of personal loans have provided possibilities to meet a variety of financial needs for consumers. Personal loans can be a great way to meet your financial needs without having to resort to high-interest credit cards. In that case, personal loans can be used for a variety of purposes, including: Medical expenses If you have a medical …

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