Can students without income apply for personal loans? A complete guide
1 week, 6 days ago

Can students without income apply for personal loans? A complete guide

Live Mint  

Securing a personal loan as a student can be a practical solution to manage unexpected expenses or cover various personal costs. Whether you're facing immediate expenses or need extra financial support, understanding the ins and outs of student personal loans can help you make informed decisions. Students without a steady source of income may be eligible for immediate personal loans from some financial institutions. No, student loans are not education loans: Student personal loans: It can be used for a variety of things, such as paying bills for living expenses, unexpected medical bills, or buying technology. Most Indian financial institutions offer students without income personal loans up to ₹5 lakhs as long as the guarantor supports the loan.

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History of this topic

SBI's move to up collateral-free study loans could push other lenders
3 days, 7 hours ago

SBI's move to up collateral-free study loans could push other lenders

Live Mint  

India's largest lender State Bank of India has begun offering collateral-free study loans of up to ₹50 lakh for students heading out to top foreign universities, entering an arena dominated by top private lenders. “SBI's decision to offer loans without collateral for select universities abroad is a progressive step that will significantly ease access to education financing for students. Arjun …

Loan eligibility in India: Can an 18-year-old get personal loan? Requirements and process explained
1 week ago

Loan eligibility in India: Can an 18-year-old get personal loan? Requirements and process explained

India TV News  

For young adults, securing a personal loan can be a significant financial milestone. To apply for a personal loan at this age, the applicant must meet certain eligibility criteria and follow specific steps. Here’s how an 18-year-old can apply for a personal loan: Check eligibility requirements: Lenders usually require applicants to have a stable income source, either through a job …

Interest free personal loans: From benefits to eligibility; all you need to know
1 week, 6 days ago

Interest free personal loans: From benefits to eligibility; all you need to know

Live Mint  

Life has a funny way of throwing unexpected expenses at you. Benefits of interest free personal loans Instant access to purchases: These loans are the best for urgent financial requirements because they enable you to buy what you need immediately. Drawbacks of interest free personal loans Reduced financial stress: You will have a low credit score but also increased financial …

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

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

Live Mint  

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 Guide for Low income? Here’s how to secure a personal loan on ₹15,000 salary
2 weeks, 5 days ago

Personal Loan Guide for Low income? Here’s how to secure a personal loan on ₹15,000 salary

Live Mint  

Personal loans are a popular choice for people who are in need of quick cash to cover their expenses for a while. KreditBee Interest rates: 16% onwards Maximum loan amount: Up to Rs. Axis Bank Interest rates: 11.25% onwards Maximum loan amount: Up to Rs. Tata Capital Interest rates: 11.99% onwards Maximum loan amount: Up to Rs. 5 lakh Loan …

Who Can Apply For A Rs 10,000 Instant Loan - Eligibility And Requirements
2 weeks, 6 days ago

Who Can Apply For A Rs 10,000 Instant Loan - Eligibility And Requirements

ABP News  

A ₹10,000 instant loan can be a quick and effective solution when faced with an urgent financial need. Employment Status Salaried individuals working in private or government organisations are eligible to apply Self-employed individuals such as business owners, freelancers, or gig workers are also eligible, though lenders may have stricter requirements for self-employed borrowers 3. Credit Score A minimum credit …

Personal Loans vs. Payday Loans: 10 crucial differences you need to know
3 weeks, 3 days ago

Personal Loans vs. Payday Loans: 10 crucial differences you need to know

Live Mint  

If you are short of funds and urgently need money to cover an unanticipated expense, you can rely on a personal loan. We are referring to the pay day loans, which are quite similar to personal loans but still vary in terms of interest rate, loan amount and repayment period, among other criteria. Purpose: Personal loans are offered by banks, …

Struggling with no job? Here’s how to get an instant personal loan
3 weeks, 6 days ago

Struggling with no job? Here’s how to get an instant personal loan

Live Mint  

Personal loans are a great option if you want quick access to funds in order to cover your expenses for a while. However, instant personal loans offered to unemployed individuals may attract higher interest rates and low principal amounts because of the risk involved for the lenders. How to secure an instant personal loan when unemployed Choose the right lender: …

Personal loan for self-employed: What are the eligibility criteria, interest rates, and documents needed?
4 weeks, 2 days ago

Personal loan for self-employed: What are the eligibility criteria, interest rates, and documents needed?

Live Mint  

While availing a personal loan is typically a hassle-free process for salaried individuals given the regular nature of their income, self-employed persons have to go through the rigour of convincing the lender to get the same. Lenders require self-employed persons to have a minimum income, which can vary by location, and the necessary financial documents that show stability of income, …

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

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

Live Mint  

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 …

What is a personal loan? A comprehensive guide for first-time borrowers
1 month, 3 weeks ago

What is a personal loan? A comprehensive guide for first-time borrowers

Live Mint  

Personal loan loans are flexible financial options that can be availed in pursuit of different goals of life such as paying an emergency medical bill, funding home improvements or realising that special dream vacation. Important factors to consider before taking personal loans 1.Loan terms and conditions: Before taking a personal loan, always read the fine print. 2. Credit score: It …

Instant Personal Loan: A Step-by-Step Guide to Getting Quick Cash
2 months, 2 weeks ago

Instant Personal Loan: A Step-by-Step Guide to Getting Quick Cash

Live Mint  

An instant personal loan is a type of unsecured loan that can be applied for online, eliminating the need to visit a bank branch. The application process can be completed in just a few simple steps. To qualify for an instant personal loan, you typically need to meet the following criteria: Age, CIBIL score, and work experience. The loan is …

Tips for students to manage their educational loans effectively
7 months, 2 weeks ago

Tips for students to manage their educational loans effectively

The Hindu  

Many students who opt for higher studies abroad also take an education loan to cover their expenses. One thing that many students do not realise is that repaying the borrowed amount is equally important to build a healthy credit score, which helps later in life when one is considering other financial products such as car loans, home loans, or credit …

Considering a personal loan for higher education? Here are its advantages and disadvantages
9 months, 2 weeks ago

Considering a personal loan for higher education? Here are its advantages and disadvantages

Live Mint  

You might be eligible for a personal loan to fund educational endeavours. : Personal loans usually entail higher interest rates in contrast to student loans, potentially leading to a notable increase in your overall repayment amount. Not eligible for educational benefits: Opting for a personal loan for education means missing out on specific benefits offered by student loans, including income-driven …

5 scenarios in which quick Personal Loans can be useful
1 year, 7 months ago

5 scenarios in which quick Personal Loans can be useful

India TV News  

Getting credit now is easier than ever before. Here, personal loans are a viable choice because you can use the funds without any restrictions, and this includes paying off existing high-interest credit. You only have to pay the interest applicable on the personal loan Moreover, when you consolidate your debt, you are effectively closing your other credit accounts. Lenders provide …

Applying for education loan? Here are 9 things to keep in mind
2 years ago

Applying for education loan? Here are 9 things to keep in mind

Live Mint  

Studying abroad develops a global outlook and can be a life-changing experience that will open an array of promising and globally interconnected career opportunities for young aspirants. A research report by a consulting firm estimates that the number of Indian students opting for higher education abroad is set to grow to roughly 1.8 million by 2024. Student loans should cover …

International education loan: What students should not overlook while applying?
2 years ago

International education loan: What students should not overlook while applying?

Live Mint  

2022 was a year of many ups and downs for students who were looking for an overseas education. In general, government banks accept three different types of assets as collateral security for secured education loans: immovable property, liquid assets, and third-party assets. For instance, public banks require a formality called the education loan disbursement letter which states the method of …

Digital lending in the education sector: How financial barriers are fading
2 years, 4 months ago

Digital lending in the education sector: How financial barriers are fading

Firstpost  

Based on the creditworthiness and requirements of the students, companies today provide a wide range of loan offers that can cover up to 100 per cent of the finance requirements In a country of nearly 1.3 billion people with a significant young population, financial barriers mustn’t affect the hope of pursuing higher education. In fact, the education loan approval rate …

BHU introduces interest-free loan scheme to support economically weak students
2 years, 8 months ago

BHU introduces interest-free loan scheme to support economically weak students

India Today  

Coming to the aid of students facing challenges in their education due to their weak economic condition, the Banaras Hindu University has begun an interest-free loan assistance scheme for students studying at the varsity. As per the statement, students belonging to families holding a Below Poverty Line care, students who lost their parents to Covid-19 or students whose parents died …

Education Loan for Higher Studies in India, Abroad: Know Eligibility, Documents Needed
3 years, 4 months ago

Education Loan for Higher Studies in India, Abroad: Know Eligibility, Documents Needed

News 18  

Education loan play a vital role in the development of one’s career. For those aspiring learners who want to expand their horizons and study abroad, the education loan acts as an ideal bridge. The lender will look at the placement rates for students from that course, the job prospects and the overall value that course has before they even consider …

5 things you must know before going for instant personal loan
5 years, 8 months ago

5 things you must know before going for instant personal loan

India TV News  

You can use an instant personal loan to boost your finances or plug gaps when you face a sudden monetary shortfall. 4) Read Fine Print An instant personal loan is convenient and in case of an emergency, it can save you a great deal of time. This feature allows you to borrow from your sanctioned personal loan multiple times without …

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