How to consolidate debt with a personal loan? 5 key tips to cut costs and simplify payments
3 weeks, 5 days ago

How to consolidate debt with a personal loan? 5 key tips to cut costs and simplify payments

Live Mint  

Management of multiple debts can be both challenging and overwhelming. Here are five smart ways to use personal loans for debt consolidation: Streamline repayments: Under this, all the loans are being combined into one loan. Lower interest rates: The interest rate offered by personal loans is lower compared to credit cards, and that will reduce your overall interest cost by a huge amount. For instance, personal loan interest rates start from approximately 9.99% per annum, which is typically lower than that of a credit card. The interest rate offered by personal loans is lower compared to credit cards, and that will reduce your overall interest cost by a huge amount.

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How to consolidate credit card debt? 4 proven strategies for success
1 week ago

How to consolidate credit card debt? 4 proven strategies for success

Live Mint  

Your financial stability returns when you use appropriate methods to eliminate credit card debt that creates problems. Keep debt repayment priority When dealing with multiple credit card debts you must first focus on eliminating one debt starting with the highest one. Effective strategies: APR: Payment focus must first go toward the credit card holding the highest annual percentage rate because …

8 smart tips to keep your personal loan from becoming a debt burden
1 week, 2 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 …

Top banks for debt consolidation loans: Where to apply in 2025
2 weeks, 5 days ago

Top banks for debt consolidation loans: Where to apply in 2025

Live Mint  

Several different forms of debt such as credit cards demand personal loans and medical expenses become complicated to handle at once. Benefits of using a personal loan for debt consolidation Borrowers decide on personal loans during debt consolidation because they receive these main benefits. Banks offering personal loan for debt consolidation Banks/NBFCs Interest rates Bajaj Finserv Personal loan 12.99% p.a. …

Debt trap: tips and options to get out of it
2 months ago

Debt trap: tips and options to get out of it

The Hindu  

As per Reserve Bank of India’s latest Financial Stability Report, about 60% of borrowers who availed personal loans in the second quarter of FY 25 had more than three existing loans at the time of loan origination. Residual debt Borrowers still left with a sizeable debt should then avail credit facilities charging lower interest rates. Borrowers can also consider other …

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

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

Live Mint  

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 …

Personal loan: Where to apply for it? Here are 5 key options
3 months, 2 weeks 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 …

Personal loan for debt consolidation: Make note of these 5 key points
3 months, 2 weeks ago

Personal loan for debt consolidation: Make note of these 5 key points

Live Mint  

If you are running low on funds, opting for a personal loan is typically feasible as well as rational. To consolidate debts At the same time, you get an offer from a bank or a non banking financial corporation to raise a personal loan at 11 percent interest. Now, if you have an option to raise ₹15 lakh to repay …

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

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

Live Mint  

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 …

Personal loans: How opting for multiple funding options can be a rational move?
3 months, 3 weeks ago

Personal loans: How opting for multiple funding options can be a rational move?

Live Mint  

If you are suddenly short of funds, you should remember that you can always raise a personal loan to meet your demands. Instead of personal loan, you can also raise funds through an array of sources such as credit card and instant loan. Second, you can use multiple channels such as credit card, instant loan and personal loan. There could …

Personal loan for debt consolidation: Know the pros, cons and process of using it
3 months, 3 weeks ago

Personal loan for debt consolidation: Know the pros, cons and process of using it

Live Mint  

Debt can be a weight that prevents you from growing financially and creates unnecessary anxiety. Understanding debt consolidation Debt consolidation simplifies your finances by combining various bills into one loan or credit line. Consolidating several outstanding loans into one loan or credit line is called debt consolidation. An overview of what constitutes consolidation debt and how the process is carried …

Personal Loan Transfer: Is it possible to transfer the debt to another person?
11 months, 2 weeks ago

Personal Loan Transfer: Is it possible to transfer the debt to another person?

Live Mint  

Personal Loan Transfer: Transferring a personal loan directly to another individual is not feasible. Debt consolidation loan : You can consider a debt consolidation loan to merge your current personal loan and other debts into one loan with a possibly reduced interest rate. : You can consider a debt consolidation loan to merge your current personal loan and other debts …

Personal Loan Reasons: Debt consolidation, education and more - 8 top purposes it serves
11 months, 3 weeks ago

Personal Loan Reasons: Debt consolidation, education and more - 8 top purposes it serves

Live Mint  

Personal Loan Reasons: Personal loans are frequently easier and faster to acquire. Home improvement : Personal loans offer a means to fund home renovations, repairs, or upgrades that might not meet the criteria for a home equity loan or line of credit. : Personal loans offer a means to fund home renovations, repairs, or upgrades that might not meet the …

Using personal loan for debt consolidation? The pros and cons of this move
1 year ago

Using personal loan for debt consolidation? The pros and cons of this move

Live Mint  

Managing high-cost debt is essential for alleviating stress and advancing towards your financial objectives. Best Personal Loan for you at lowest interest rate Instant Apply Streamlined management : You’ll be dealing with a single monthly payment instead of multiple ones, simplifying the tracking and management of your debt. Possibly reduced interest : If the interest rate on the personal loan …

Using personal loan for debt consolidation? The pros and cons of this move
1 year ago

Using personal loan for debt consolidation? The pros and cons of this move

Live Mint  

Leveraging a personal loan for debt consolidation can serve as a beneficial strategy to handle your debt and potentially cut costs. Here's an overview of the primary advantages: Personal loans present numerous benefits over salary advance loans, potentially making them a superior choice for diverse borrowing requirements. Here's an overview of the primary advantages: Increased loan amount : Personal loans …

Personal Loans How To Apply Five Tips For Acing Personal Loans Making The Most Out Of It
1 year, 4 months ago

Personal Loans How To Apply Five Tips For Acing Personal Loans Making The Most Out Of It

ABP News  

By Amarjeet Tiwari Personal loans grew by 30.8 per cent in August 2023 as compared to 19.4 per cent in 2022, while total credit to the segment stands at Rs 47.7 trillion, according to the Reserve Bank of India. Whether it's home renovation, purchasing big-ticket items, covering wedding costs, handling unexpected medical bills, or more, personal loans can provide the …

Debt management: 3 strategies to pay off debts and stay financially healthy
1 year, 7 months ago

Debt management: 3 strategies to pay off debts and stay financially healthy

Live Mint  

It is certainly true that debt tends to accumulate more quickly than most individuals realize. This emphasizes the importance of a robust debt management strategy to settle debts while maintaining sound financial health. Adopt debt avalanche strategy: After locating the additional funds to pay off the debts, the next step is to choose how to put them to best use. …

The Most Common Questions About Debt Consolidation, Answered
2 years, 6 months ago

The Most Common Questions About Debt Consolidation, Answered

Huff Post  

You probably have a few credit cards in your wallet. Getty If this financial situation sounds familiar and you have good credit, then a Debt Consolidation Loan might be the smart solution for you. The biggest advantage of a Debt Consolidation Loan is that in many cases the interest rate you’re paying is dramatically lower compared to that of your …

What Is Debt Consolidation Loans & How Does It Work?
3 years, 1 month ago

What Is Debt Consolidation Loans & How Does It Work?

Deccan Chronicle  

Debt consolidation loans are often misunderstood. If you are considering taking out best debt consolidation loans then you must understand what they are and how to get it. The use of debt consolidation loans is to help consumers consolidate their debts into a single loan. Therefore, here are some tips on the best way to use debt consolidation loan: Understand …

Understanding business debt consolidation loan options
3 years, 2 months ago

Understanding business debt consolidation loan options

Deccan Chronicle  

What is a debt consolidation loan? Get rid of large balances A business debt consolidation loan allows you to pay off larger amounts of debt. However, a business debt consolidation loan leaves you with only one lump sum payment each month. The Best Business Debt Consolidation Loans When choosing the right business debt consolidation loan, there are certain factors you …

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