Personal loan for debt consolidation: Make note of these 5 key points
2 weeks, 3 days 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 all these debts and the new loan is offered at an interest rate of 11 percent for three years, then the EMI of the fresh loan would be ₹49,108. However, if you plan to raise a personal loan to consolidate your debts, you should make note of the following points. Processing fee: A new personal loan would lead to a processing fee which could decrease your savings proportionately.

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5 Tips to Get the Best Deal on Your Personal Loan
5 days, 9 hours ago

5 Tips to Get the Best Deal on Your Personal Loan

Deccan Chronicle  

Selecting the best Personal Loan option with affordable rates, nominal charges, and favourable terms helps you rein in the borrowing costs and repay your EMIs with ease. Having a credit score of 750 and above increases your chances of getting quick Personal Loan approval at lower interest rates and better terms. Negotiate With the Lender Once you have checked the …

Personal loan: Where to apply for it? Here are 5 key options
2 weeks, 3 days 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 Repayment: 8 tips to pay off your loan faster
2 weeks, 6 days ago

Personal Loan Repayment: 8 tips to pay off your loan faster

Live Mint  

A personal loan may be a good financial tool when used judiciously. Let's have a look at the strategies to enable you to reduce your total debt, and pay off your personal loan more speedily. Principal and interest rate are typically repaid in equal monthly instalments while paying back a personal loan. It is easier and more economic to pay …

Personal loan: Before zeroing in on a lender, make note of 7 key points
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3 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 …

Planning to borrow? A beginner’s guide for personal loans 2025
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 loan for debt consolidation: Know the pros, cons and process of using it
3 weeks, 3 days 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 …

Refinancing a personal loan: What it is and how it works
3 weeks, 6 days ago

Refinancing a personal loan: What it is and how it works

Live Mint  

A personal loan is a convenient tool to finance emergency expenses. In such a scenario, refinancing a personal loan is an effective tool to repay the existing debt and set revised terms for the new loan. Hence, it becomes important to get a refinance loan with a lower interest rate and better repayment terms to make monthly payments comfortably when …

3 Key Reasons to Consider a Personal Loan for Financial Emergencies
1 month, 3 weeks ago

3 Key Reasons to Consider a Personal Loan for Financial Emergencies

Live Mint  

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
3 months, 1 week 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 …

Personal Loan Transfer: Is it possible to transfer the debt to another person?
8 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
8 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
9 months, 2 weeks 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
9 months, 2 weeks 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 …

What Is Debt Consolidation Loans & How Does It Work?
2 years, 10 months 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 …

A Step-by-Step Guide On How to Get Out of Debt
3 years ago

A Step-by-Step Guide On How to Get Out of Debt

Deccan Chronicle  

Nobody wishes to be in debt, but sometimes, one needs to borrow money to buy important assets such as a house or a vehicle. A bit of clever planning and curbing unnecessary expenditure can eliminate debt faster and in more structured manner – or you are left repaying multiple EMIs for years. Take stock of how much urgent debt needs …

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