Articles for Personal Loan

Can you get a personal loan with low credit score? Check details
4 days, 16 hours ago

Can you get a personal loan with low credit score? Check details

India Today  

Getting a personal loan with a low credit score might seem challenging, but it’s not impossible. HERE ARE SOME TIPS FOR OBTAINING A PERSONAL LOAN WITH A LOW CREDIT SCORE Bring in a guarantor or co-applicant Personal loans are unsecured, meaning no collateral is required. If your credit score is below the lender’s threshold, consider involving a guarantor or co-applicant …

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5 Tips to Get the Best Deal on Your Personal Loan
5 days, 6 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 …

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7 instant personal loan mobile apps you can explore in 2025
6 days, 11 hours ago

7 instant personal loan mobile apps you can explore in 2025

Live Mint  

If you are falling short of money and urgently need funds to meet your deficit then one of the most feasible options that you can explore is to seek a personal loan. Although one can approach a bank or an NBFC for a personal loan, there are a dozen mobile applications also that enable users to procure a personal loan …

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Personal Loans vs. Payday Loans: 10 crucial differences you need to know
1 week 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, …

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Personal loan for self-employed: How can one raise money based on ITR. Details here
1 week ago

Personal loan for self-employed: How can one raise money based on ITR. Details here

Live Mint  

Self-employed individuals can avail of personal loans by providing their Income Tax Return documents as proof of income. Banks typically assess their income tax returns to assess their financial stability, repayment capacity, and eligibility. If you want to procure a personal loan, you need to gather an income tax return for the past 2 to 3 financial years. Typically range …

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Personal Loan: How is technology transforming the borrowing experience?
1 week, 3 days ago

Personal Loan: How is technology transforming the borrowing experience?

Live Mint  

The use of technology in the financial sector has revolutionised the entire process of borrowing and transformed the user experience to a new level. From a quick and efficient process of submitting loan applications to customised offers, technology has simplified the entire personal loan application journey. Online loan applications Now it is no longer necessary to go to the bank’s …

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Personal Loan: How does credit utilisation ratio influence loan eligibility?
1 week, 3 days ago

Personal Loan: How does credit utilisation ratio influence loan eligibility?

Live Mint  

A personal loan comes in handy when you need urgent funds as it does not require any collateral and can be utilised for multiple purposes. One such factor that has an indirect impact on your personal loan eligibility is the credit utilisation ratio. A credit utilisation ratio reflects the portion of credit you utilise from the available credit limit. Hence, …

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Choosing the Right Type of Personal Loan for You
1 week, 4 days 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 …

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Instant Personal Loan: How does digital KYC expedite the approval process? Find out
1 week, 4 days ago

Instant Personal Loan: How does digital KYC expedite the approval process? Find out

Live Mint  

Over the past few years, the finance sector has witnessed technological advancements in almost all aspects of their working. How does digital KYC transforms instant personal loan approval process Seamless integration with loan portals: Online loan application and approval processes rely on digital KYC and verifies your identity in real time with the help of Aadhar card and Pan card …

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Struggling with no job? Here’s how to get an instant personal loan
1 week, 4 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: …

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How to pay off your personal loan faster? Here are 7 ways
1 week, 5 days ago

How to pay off your personal loan faster? Here are 7 ways

Live Mint  

Before getting a personal loan to fund your expenses, it is important to know how to repay it to avoid extra charges over the existing amount. Interest: By paying your personal loan fast, you save money charged in the form of interest rates on your loan every month. Ways to pay personal loan faster Repayment capacity: Repaying your personal loan …

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Personal loan for home renovation: 4 essential tips you need to know
1 week, 5 days ago

Personal loan for home renovation: 4 essential tips you need to know

Live Mint  

Renovating your house can be expensive, and a personal loan may be the cash you need to make it happen. An unsecured loan referred to as a personal loan grants you the privilege of raising a certain amount of money for debt consolidation, clearing medical bills, or home improvement. These loans allow flexibility and rapid access to money, but one …

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Personal Loan: 6 factors that determine your interest rate
1 week, 5 days 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 …

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Personal Loan: How inflation influences your interest rates? Explore here
2 weeks ago

Personal Loan: How inflation influences your interest rates? Explore here

Live Mint  

Another component of our personal finance, where inflation leaves an impact is interest rates of personal loans. When the repo rate goes up, borrowing becomes more expensive for banks, leading to higher consumer interest rates personal loans are no exception. Ashish Tiwari, Chief Marketing Officer, Home Credit India, expressed that, “Personal loan interest rates are closely tied to inflation levels …

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Personal Loan: Should you use it for investment? Pros and cons revealed
2 weeks, 3 days ago

Personal Loan: Should you use it for investment? Pros and cons revealed

Live Mint  

Taking a personal loan with the intention of investing can be both risky as well as profitable. Let us understand the implications of borrowing a personal loan for investment and whether or not it is a wise decision for you: Understanding personal loans A personal loan is an unsecured type of loan which you can easily borrow for any purpose …

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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 …

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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 …

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Online vs. Traditional Personal Loans: Which option offers better rates and flexibility?
2 weeks, 4 days ago

Online vs. Traditional Personal Loans: Which option offers better rates and flexibility?

Live Mint  

Personal loans have become a popular choice amongst people who want quick cash to meet their financial obligations or just need some extra funds for a celebration or a luxury vacation. Online vs traditional personal loans We will be analysing this on certain parameters which include the application process, interest rates, customer experience and many more. Application process Online personal …

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Travel Loan: A complete guide to eligibility, documents, and interest rates
2 weeks, 4 days ago

Travel Loan: A complete guide to eligibility, documents, and interest rates

Live Mint  

Planning a dream vacation, but are financial constraints delaying it? These short-term loans are given to salaried individuals, self-employed persons, including professionals, and business persons, depending on their income levels. Salaried individuals and self-employed professionals with at least two years of experience are eligible for the loan. The minimum income requirement varies with each lender but you must earn at …

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Personal Loan: 5 macroeconomic factors that affect your interest rates
2 weeks, 4 days ago

Personal Loan: 5 macroeconomic factors that affect your interest rates

Live Mint  

Before getting a personal loan, various factors such as credit history, banks, income, and employment type, among many other factors, may determine interest on your loan. However, there are certain factors beyond the control of a borrower and a lender that may have an impact on personal loan interest rates. The central bank will adjust the interest rates accordingly, which …

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Personal loan for self-employed: 7 key tips to follow to overcome challenges
2 weeks, 5 days ago

Personal loan for self-employed: 7 key tips to follow to overcome challenges

Live Mint  

If you are short of funds, it is acceptable to explore the prospect of raising a personal loan to meet your needs. Typically, before banks disburse a personal loan, they examine the past few months' salary slips and CIBIL score. Shorter tenure: Banks may usually offer shorter loan repayment tenures to self-employed borrowers, thus leading to higher instalments. Reconciling actual …

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6 consequences of personal loans: What you need to know before signing up
2 weeks, 5 days ago

6 consequences of personal loans: What you need to know before signing up

Live Mint  

Personal loans are one of the quick sources of funds that cater to a variety of purposes such as debt consolidation, house repairs, and even sudden medical bills. High interest rates: As personal loans are not secured, they normally come with higher interest rates than other secured loans like mortgages and auto loans. Paying off debt with loans: Personal loans …

Personal Financial Personal Loans Loans Loan Personal Loan Interest Rates
Personal Loan: 6 crucial things you need to know before borrowing
2 weeks, 6 days ago

Personal Loan: 6 crucial things you need to know before borrowing

Live Mint  

If you are planning to take a personal loan, it is important that you keep a few aspects in mind before you start with your application process. 6 key factors to consider before applying for a personal loan Understand your credit report: Credit score plays a major role in the personal loan approval process. Beware of misleading offers: Many lenders …

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Emergency Fund vs. Personal Loan: Which option is best for your financial crisis?
2 weeks, 6 days ago

Emergency Fund vs. Personal Loan: Which option is best for your financial crisis?

Live Mint  

An emergency crisis can come at any point in your life. However, it is important to understand whether or not you should take a personal loan or utilise emergency funds in such situations. Advantages of personal loans Protect savings: Getting a personal loan can be a good option if your total savings will completely get exhausted in case of an …

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