Articles for Loan Interest

Personal Loan Agreement: 7 key things you must know before signing
1 week, 6 days ago

Personal Loan Agreement: 7 key things you must know before signing

Live Mint  

A personal loan may become a source of support at your time of need. Understanding personal loans An unsecured loan, often referred to as a personal loan, is borrowed for a given amount for various purposes, including debt consolidation, medical expenses, home improvements, and financing holidays. Since it's an unsecured loan, you don't need collateral, though this usually leads to …

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HDFC Bank hikes MCLR for short-term loans. What borrowers need to know
2 weeks ago

HDFC Bank hikes MCLR for short-term loans. What borrowers need to know

India Today  

HDFC Bank has increased its marginal cost of funds-based lending rate on short-term tenures by up to 5 basis points, effective December 7, 2024. Introduced by the Reserve Bank of India in 2016 to replace the base rate system, MCLR reflects the actual cost of funds for banks. A lower MCLR means lower interest rates and EMIs, while a higher …

Bank Loans Interest Cost Rate Rates Base
Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden
2 weeks, 3 days ago

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden

Live Mint  

With the Reserve Bank of India keeping its key interest rate unchanged, real estate experts and developers have stressed the need to lower the rate, citing the need to stimulate sluggish sales and ease the growing burden of borrowing costs. “At this point, a rate cut would be more beneficial for consumers," said Shishir Baijal, chairman and managing director of …

India Real Estate Growth Home Loans Interest Rates Interest Sales
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 …

Debt Personal Loan Lakh Emi Three Years Debts Loan Interest
I’m Watching My Family History Repeat Itself With My Son. It’s Breaking My Heart.
54 years, 11 months ago

I’m Watching My Family History Repeat Itself With My Son. It’s Breaking My Heart.

Slate  

Pay Dirt is Slate’s money advice column. How can I say, “I support you, but can’t support this?” —I’m Already Contributing Too Much to the Landfills, Thanks Anyway Dear Thanks Anyway, I found myself in the same situation not too long ago. HELOC interest rates aren’t low, but they’re usually a lot lower than what you’d get with a credit …

Savings Credit Pay Loan Interest Son My Son
Pros and cons of personal loans: Is borrowing right for you?
1 month 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: …

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Tax breaks on auto loan interest may not help many Americans
1 month, 3 weeks ago

Tax breaks on auto loan interest may not help many Americans

Salon  

When candidates make policy proposals on the campaign trail, they often sound beneficial but don't always hold up to closer scrutiny. Another recent example is Trump's suggestion during a speech at the Detroit Economic Club that his administration would make car loan interest fully tax deductible. Making car loan interest tax deductible might sound appealing, but likely would not change …

Tax Car Trump Loan Interest Standard Deduction
Mike Lindell's 'cash-strapped company' accepts loan with 360% interest then refuses to pay
1 month, 3 weeks ago

Mike Lindell's 'cash-strapped company' accepts loan with 360% interest then refuses to pay

Raw Story  

MyPillow CEO Mike Lindell's company has refused to repay a loan that reportedly includes 360% interest fees. A lawsuit filed last week claimed that the loan was "usurious, unconscionable and thus unenforceable," and said it should be thrown out by Carver County District Court. Although usury laws typically cap interest rates for loans, the agreement with Lifetime Funding and CapSpot …

Loan Lindell Mypillow
Business Loan: 7 game-changing factors that determine your interest rate
3 months, 1 week ago

Business Loan: 7 game-changing factors that determine your interest rate

Live Mint  

Funding is one of the biggest requirements for most businesses to survive or sustain. Hence, if your business comes under priority sector lending, your business loan may get some preference and may come at a lower interest rate than other business loans. A fixed-rate business loan comes at a higher interest rate than a floating interest rate business loan. In …

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Why is an EMI Calculator Important When Getting a Personal Loan?
4 months, 2 weeks ago

Why is an EMI Calculator Important When Getting a Personal Loan?

Hindustan Times  

Personal loans offer fast and flexible financial solutions, but understanding their financial implications—such as equated monthly instalments and total interest—can be difficult. Importance of EMI Calculator while taking loan Understanding an EMI Calculator An EMI calculator is a financial tool that helps borrowers estimate the monthly instalments they will need to pay over the loan tenure. Here are the benefits …

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Common Mistakes to Avoid When Finalising Two-wheeler Loan Interest Rates
4 months, 4 weeks ago

Common Mistakes to Avoid When Finalising Two-wheeler Loan Interest Rates

The Hindu  

Not Comparing Different Lenders It is crucial to compare bike loan interest rates from different lenders. Underestimating the Importance of Down Payment A higher down payment reduces the loan amount, which can result in a lower bike loan interest rate. This can lead to choosing a higher bike loan interest rate or unfavourable terms. Consider checking the bike loan interest …

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Personal loans for veterans: How are they different from regular ones? MintGenie explains
6 months, 3 weeks ago

Personal loans for veterans: How are they different from regular ones? MintGenie explains

Live Mint  

By doing research and contrasting veteran-specific loan options with conventional personal loans, veterans may be able to determine which financing option best suits their needs. General loans : Veterans can benefit greatly from regular personal loans due to their flexibility and ability to be used for a variety of purposes. Most banks and credit unions allow veterans to apply for …

Personal Credit Personal Loans Loans Interest Rates Veterans Debt Consolidation
Considering a personal loan to buy a car? Here are its pros and cons
6 months, 3 weeks ago

Considering a personal loan to buy a car? Here are its pros and cons

Live Mint  

Personal loans might be a sensible option when buying a car in some cases. Potentially low interest rates: Good credit score can turn the tables when it comes to personal loans versus car loans for car purchases. While personal loans typically have higher interest rates than car loans, if you have good credit score, you might snag a lower rate …

Credit Personal Loans Personal Loan Interest Rates Auto Rates Buy
Impact of personal loans on financial planning: Here are the pros and cons
6 months, 3 weeks ago

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

Live Mint  

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 Financial Planning Financial Personal Loans Loans Rate Loan Interest
Do You Own An Electric Vehicle? It Can Save You Taxes, Here's How
7 months, 1 week ago

Do You Own An Electric Vehicle? It Can Save You Taxes, Here's How

News 18  

Tax Benefits on Electric Vehicles in India: The Indian government is pushing for a greener future, and electric vehicles are a key part of the plan. But did you know there’s a hidden income tax deduction specifically for the interest paid on loans taken to purchase EVs? Here’s the deal: Under Section 80EEB of the Income Tax Act, individual taxpayers …

Income Tax Loan Electric Itr Deduction Rs 1 Lakh Interest Paid
Personal loan for business: Here are its pros and cons
8 months, 3 weeks ago

Personal loan for business: Here are its pros and cons

Live Mint  

Personal loan for business: Personal loans are usually taken and used for personal expenses but some borrowers may consider taking this type of credit to finance their small business ventures. This is because of the following reasons: Elevated interest rates : Personal loans generally carry higher interest rates in comparison to business loans, which can substantially inflate the total borrowing …

Credit Personal Loans Eligibility Loans Loan Personal Loan Interest
CIBIL Score: What is it and why is it important? Key questions answered
9 months, 2 weeks ago

CIBIL Score: What is it and why is it important? Key questions answered

Live Mint  

A CIBIL score is a numeric representation of creditworthiness of borrower or investor. Range between 300 to 900 The CIBIL score typically ranges from 300 to 900 with a higher score reflecting better creditworthiness. Best Personal Loan for you at lowest interest rate Instant Apply Importance of CIBIL score Credit limits: A good CIBIL score usually leads to higher credit …

Credit Loan Credit Cards Score Higher Limits Cibil
Dutch MPs to vote on plan to reduce student loan interest rate
1 year, 1 month ago

Dutch MPs to vote on plan to reduce student loan interest rate

NL Times  

Dutch MPs will vote on Thursday evening to reduce the interest rate that students have to pay on their loans. This comes as students have expressed frustration with the new interest rate on student loans, which is set to be five times higher next year, increasing from 0.46 percent to 2.56 percent. Omtzigt proposes reducing the tax break granted to …

Dutch Students Student Rate Loan Interest Omtzigt
Biden's New SAVE Plan Could Cut Your Student Loan Payments By Hundreds. But Do You Qualify?
1 year, 3 months ago

Biden's New SAVE Plan Could Cut Your Student Loan Payments By Hundreds. But Do You Qualify?

Huff Post  

OLIVIER DOULIERY via Getty Images President Joe Biden announced his first plan for student loan relief in August 2022, but it was overturned by conservative members of the Supreme Court. The restart of student loan payments was meant to follow the rollout of President Joe Biden’s widespread loan forgiveness plan, which more than 26 million borrowers had applied for once …

Student Loans Loan Income Interest Biden Plan
Debt management: 3 strategies to pay off debts and stay financially healthy
1 year, 4 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. …

Debt Management Debt Pay Loan Interest Debt Consolidation Rate
HDFC, ICICI, Canara among five banks that have hiked lending rates this month
1 year, 4 months ago

HDFC, ICICI, Canara among five banks that have hiked lending rates this month

Live Mint  

Banks have been hiking lending rates. In August, top banks in India, including HDFC Bank, ICICI Bank, Bank of Baroda, and Bank of India increased their marginal cost of funds-based lending rate. HDFC Bank MCLR rates in August 2023 HDFC Bank has hiked benchmark marginal cost of funds-based lending rates by 15 basis points on select tenures with effect from …

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The Impact of Your Credit Score on Your Home Loan Interest Rate
1 year, 6 months ago

The Impact of Your Credit Score on Your Home Loan Interest Rate

India TV News  

A borrower's credit score is crucial and yet many credit users go about life completely unaware of the concept of credit scores. Does a borrower's CIBIL score also impact the home loan interest rates they get offered? How Does Your Credit Score Impact Your Home Loan Interest Rates? Borrowers or credit users whose CIBIL score varies between 700 and 749 …

Credit Credit Score Score Rate Low Borrowers Emi
Gold loans vs personal loans: 4 factors that affect your choice
1 year, 9 months ago

Gold loans vs personal loans: 4 factors that affect your choice

Live Mint  

Major economies are in turmoil causing people to lose their jobs. Many borrowers now wonder what kind of loan would suit them best considering how they can choose between gold loans and personal loans. However, the sudden jump in gold prices and personal loan interest rates are not the only things that borrowers must consider before applying for a loan. …

Credit Personal Loans Gold Interest Rates Gold Loans Borrowers Many People
Repo rate hike: Developers watch cautiously, home buyers to pay more
1 year, 10 months ago

Repo rate hike: Developers watch cautiously, home buyers to pay more

Hindustan Times  

The Reserve Bank of India’s sixth consecutive hike in repo rate on Wednesday has made the real estate industry cautious that it may hit the housing demand and at the same time has left home buyers worried about the rising home loan EMIs. Shishir Baijal, CMD, Knight Frank India, said since the rate hike cycle began in May 2022, RBI …

Impact Home Buyers Hike Rate Rbi Buyers Emi