Everything you should know in the world of Finance

Buying a used car as a Non-Resident Indian (NRI) can be a challenging process, especially when managing finances from abroad. However, opting for a used car loan can simplify the purchase by providing financial support and flexible repayment options. 

Banks, non-banking financial companies (NBFCs) and other financial institutions offer used car loans for NRIs looking to buy second-hand vehicles. These used car loans come with certain features and benefits tailored to the needs of NRIs that make purchasing cars more convenient and affordable. 

For many non-resident Indians (NRIs) visiting India, purchasing a used car is a practical option. However, paying the full amount upfront can be challenging, making used car loans a convenient solution with flexible repayment options. While the loan approval process can be complex, following key strategies can help NRIs improve their chances of timely approval and a smoother experience.

For many taxi drivers, owning a car is not just a means of transport but a source of daily income. Buying a brand-new vehicle, however, may not always be financially possible. That is where a used car loan for taxi drivers becomes a practical solution. It allows drivers to purchase a reliable second-hand vehicle while spreading the cost over time. This guide covers the essentials; from eligibility to documentation, offering a clear understanding of how the loan works. 

Peer-to-peer (P2P) lending has emerged as an alternative borrowing and lending model that connects individuals looking for loans directly with investors willing to fund them. This decentralised approach can offer more flexibility and accessibility than traditional financial institutions. P2P lending platforms are growing steadily across India as people explore new ways to meet their credit needs. Let’s get to the specifics of peer-to-peer lending.

Home renovation loans make executing extensive home makeovers affordable by providing the necessary funding approvals. However, getting credit for renovations involves stringent eligibility checks by loan providers. A key parameter influencing loan decisions is the applicant’s credit score—a three-digit number representing financial credibility based on past repayment records. Higher credit scores generally improve the chances of faster approval, access to larger loan amounts, and more favourable interest rates for home renovation loans.

Peer-to-peer (P2P) lending is growing quickly in India. With P2P lending, people can borrow and lend money directly between each other without visiting a bank or non-banking financial company (NBFC). This allows individuals and small businesses to get loans faster and investors to earn higher returns.

Leading platforms are expected to handle over ₹ 100,000 crore per year in loan originations by end of 2025. As trust and awareness of this new lending model increase across small towns and cities, exponential expansion is on the horizon.

A merchant cash advance (MCA) is a financing option that businesses leverage to access quick working capital. As opposed to a traditional loan, an MCA gives a lump sum upfront in exchange for a percentage of the business’s future credit and debit card sales. In essence, it is an advance on future card revenues.

A loan against property (LAP) can help meet large expenses like renovating the house, business growth needs, children's foreign education, marriage, or real estate purchases. However, borrowers must carefully assess options before transferring an existing LAP to another provider.  This article examines critical considerations and potential pitfalls during LAP balance transfers to ensure informed decision-making and optimal financial outcomes.

When running a medical store or pharmacy, having access to working capital and financing options is crucial for managing cash flow, purchasing inventory, upgrading equipment, or expanding your business. Pharma loans provide speciality financing for pharmacies and medical stores to help meet these needs. As the healthcare and pharmaceutical industries continue to grow in India, pharma loans have become an attractive lending option for pharmacy owners.

If you had taken out a car loan a few years ago when interest rates were higher, you may now have reasons to consider transferring your auto loan balance to a new loan with better terms. With interest rates still near historic lows, now is a great time to save money on your existing car payment. Here are the top five reasons to transfer car loan from your current car loan balance.