Loans

India, the second most populated country, has 50% of its population below the age of 25 which makes it the youngest nation in the world. If the power of youth is properly channelized, the nation will see unprecedented growth in the economic sector. Education is the basic requirement for the masses that can drive splendid growth across all sectors. Realising this, the Government of India has launched several schemes to provide education for all.  

India is the second largest producer of farm products, contributing a major share in the country’s economy. However, agriculture is steadily declining with the country’s broad-based business growth. The reason for decline could also be the lack of funds for sustainability. However, the future seems promising for agriculture with the wide array of loans available from banks.  

The used car market in India is booming. According to the reports, the ratio of new cars to used cars is 1:2.2, which means that for every 100 new cars sold, 220 used/pre-owned cars come into the market for sale. The annual volume in the used car market is estimated to be 4 million units, which is 50% more than new car sales. 

Entrepreneurism is on the rise in India. Campaigns such as Make In India and the encouragement for startups are making the business environment very conducive. However great an idea may be, it cannot take off without monetary backing. There are many sources of funding available to a business owner.

Personal Loan is an unsecured credit and one of the easiest loans to apply. It does not need exhaustive documentation like Home loans. Moreover, personal loans can be put to use to meet any need, like taking a vacation abroad, meeting a medical emergency, as a down-payment for a home loan, or even for a wedding.  The terms and conditions of a personal loan are also easier and simpler to understand. 

Credit score has become an integral part of our financial well-being. To be eligible for any kind of credit, a good credit score is essential. But we are humans and it is natural for us to make mistakes. Sometimes, that might cost us our credit score. Once we get into the territory of bad credit scores, getting further credit on the best terms gets increasingly difficult.  

Mahesh Kurundwad, a social media analyst based out of Pune, had a lot of responsibilities at home. So most of his salary was utilized in meeting those expenses.  To meet other discretionary expenses, he often went in for personal loans or used his credit cards.

To be able to own a home is a matter of great pride, hence owning a home ranks high among the aspirations for a majority of Indians. When you come to think of a home, it is the most expensive asset you own. Therefore, fulfilling the decision to buy might not be possible without the aid of a home loan.

Radhika passed her graduation with flying colors. She had always dreamt of doing her master’s in international business from a prestigious university abroad. She did her spadework and realized that the course fee and the living expenses could easily cost her around 40 lakhs for the 2-year course.  It was a huge amount for her parents to fund on their own.  That’s when they learned that loans are available for higher studies. 

Ever thought your signature can be of more value than you imagined? Yes, it is going to be! You can soon get a loan by securing your signature as collateral. While this is something not prevalent in our country, it is important that you get a picture of how this loan works.  

As convenient as loans or any credit instruments are, the truth remains that they are to be repaid and that too with interest.  Once you are done through the process of availing the loan, starts the process of repayments and EMIs. Life throws up many surprises at you which may offset your financial balance in spite of all the planning. But there are always smart ways to reduce the loan burden without stressing your wallet. Let's see how! 

Financing options like loans help us tide over many situations, higher education being one of them. The circumstances in which you avail a loan may not have been a favorable one and hence you might have availed a loan at a higher rate of interest. Education loans are big-ticket loans and servicing such loans on a high rate of interest may upset your finances as you start working or the tenures may be longer/shorter than you expected. So is there no exit from such situations? 

Cash crunch is a problem that you can come across at any given point in time. Most of the times, such scarcity of the required amount of money makes people unable to achieve specific targets in the form of buying a house or a car, pursuing higher education, making some purchases or meeting some immediate financial requirements.

Home loan balance transfer is the process of transferring your existing home loan to another lender for better services and low interest rates. The details of Mahesh’s outstanding home loan with the existing lender are as follows 

Buying a home is very difficult with the current market rates in most cities being very high. One will consider him/herself lucky if they are able to get a home that they like and are able to pay for the home. But there are a few who make their own luck by buying a piece of land and constructing a house the way they want it to look with all the amenities they desire.

Many of us might want to make changes in our home in the form of enlarging their bedroom, carpentry work, new coat of paint or just get new furniture for the home. Most renovations will happen close to a family function when we expect a lot of guests or when the home is in a bad shape and renovations are a must. Many of the renovation activities are costly and discourage us from improving our homes. It is for this reason that people will take loans in the form of a home renovation loan or personal loan.

Repayment is defined as the act of paying back previously borrowed money in the form of loans which could be personal loans, home loans or education loans. The repayment includes both the principle and interest, the result of not repaying after a point of time will result in the borrower falling into bad debt and being called a delinquent.

A top-up loan should not be taken just because it is simply available. It becomes fruitful only when you have the requirement for finance. Because top-up personal loan could be costly, and you might end up paying additional interest on the repayment.

Most successful businesspersons were not born rich. They all started small and acted smartly in their endeavour to become successful. Many people try to achieve success in their business, but due to multiple reasons, they may have dropped their ambition in the mid-way. Not getting a business loan could be one of the reasons for a setback in the business career.

Everyone has a dream of getting a car for all the convenience and memories that it will provide. From getting away from the cold or heat to those memorable long drives a car is what everyone dreams of. But not everyone can afford their dream car by paying for it themselves at one go. This is where their car loans can help. In this article we are going to cover some of the common or frequently asked questions when it comes to car loans to help you be prepared when you do apply for one.

Do you have an ongoing personal loan? Do you want to finish it as soon as possible so that you’ve got one less debt to worry about?