Everything you should know in the world of Finance

In today's fast-moving world, financial requirements can arise anytime, and personal loans can help fulfil many such needs quickly. Traditional banks have been the primary source for individual borrowers until now. However, personal loans from Non-banking Financial Companies (NBFCs) are slowly becoming popular. Let's find out why an NBFC personal loan could be more suitable than one borrowed from a traditional bank.

A personal loan can be a helpful tool for covering expenses like weddings, medical bills, home repairs, or consolidating credit card debt. It provides quick access to funds with minimal paperwork, often disbursed within a day or two. But how do you secure a loan with the best rates and terms? This article has answered this question and discussed the best way to get a personal loan. Read on to find out these ways and things you should keep in mind when applying for a personal loan.

It is usually difficult to secure a personal loan if you have poor credit scores. Lending institutions believe poor credit means high risk, so your application can be rejected or accepted with high interest. However, one can use strategies and approaches to be eligible for borrowing.

Undoubtedly, it requires some extra effort, but securing a loan with a bad credit score is possible with proper planning. Listed below are some of the best strategies:

Taking out a personal loan is often necessary to help cover large expenses or consolidate high-interest debt. However, the impact a personal loan can have on your credit score is an important factor to consider. Your credit score plays a crucial role in your ability to access credit and the interest rates you will pay.

In this blog post, we will discuss how a personal loan affects your credit score and the steps you can take to minimize any negative effects.

Have a great business idea but lack the funds to get it off the ground? A personal loan may seem like an attractive way to raise capital quickly, as these loans typically have no mandatory collateral requirements and can be processed relatively fast. However, before jumping into financing your business venture with a personal loan, it's essential to weigh the pros and cons carefully.

Personal Loan Disbursement: A Step-by-Step Guide

The loan disbursal process can seem straightforward—you apply for a loan, it gets approved, and the funds are deposited into your bank account. However, the journey from loan approval to receiving the funds involves critical steps.

As a borrower, one should have clarity on expected timelines and requirements that can help you plan better through the personal loan disbursal process.

This article provides a comprehensive guide to the typical stages involved in the disbursal of a personal loan.

Debt consolidation is a financial strategy that allows you to combine multiple debts into a single loan, often with a lower interest rate and more manageable payment terms. This can be especially helpful if you're struggling with overdue payments. Falling behind on your debt payments can happen to anyone. An unexpected medical bill, a job loss, or other unforeseen expenses can make it difficult to keep up with monthly payments.

The Permanent Account Number (PAN) is a 10-digit alphanumeric identification issued by the Income Tax Department and is an important document for all financial transactions by the PAN holder. Banks and financial institutions mandatorily ask for PAN card details when you apply for loans or credit cards, make high-value transactions, open a demat account, etc.

Obtaining a personal loan without proof of income may feel challenging, but it is achievable with the right knowledge. You might not have standard payslips if you’re a freelancer, an entrepreneur, or simply have an inconsistent income.

Imagine running low on funds just before a big payment is due. Unexpected expenses have drained your account, and payday is still days away. You need immediate access to extra money without the hassle of a loan application. This is exactly where a personal loan overdraft facility comes to the rescue, offering a quick and flexible solution. In this article, we’ll explore what a personal overdraft facility is and how it can help manage your finances in such situations.