Life Insurance Corporation of India (LIC) provides secured personal loans using its life insurance policies as collateral. This loan commonly known as loan against LIC policy have flexible-end use with competitive interest rates that can be used by the borrower…
Loan Against LIC Policy
Read More
5 Things to Consider Before Cosigning a Loan
What does cosigning a loan mean? When you co-sign a loan, you promise to pay off somebody else’s debt if the borrower stops making payments for any reason. In the case of the friend or family member mentioned above, it means that…
What happens if the Loan is not paid back by the borrower?
A Loan is an amount of money provided to the borrower by the lender with or without any collateral, with the promise of repayment of the initial amount borrowed along with interest. This way the borrower gets the money in…
ICICI Bank introduces ‘Insta FlexiCash’
Enables Salary Account customers to get instant approval for OD An end-to-end digital facility; the customer does not need to visit branch ICICI Bank today announced the launch of a facility, that enables its Salary Account customers to get approval…
Loan moratorium over: You can still avail extension of two more years
In view of the pandemic of Covid-19, the RBI had, vide a Circular dated 27 th March 2020, permitted the lenders to allow a moratorium for three months of EMI (Equated Monthly Instalments), falling due between 1 st March 2020 and 31 st May 2020, for various categories of loans
Loan moratorium extendable for 2 years as per Covid impact, Centre tells SC
The Centre and RBI on Tuesday informed the Supreme Court that the moratorium period on repayment of loans amid the Covid-19 pandemic is “extendable” by two years. Solicitor General (SG) Tushar Mehta, appearing for the Centre and the Reserve Bank…
Recast of individual loans due to coronavirus: Who, how and when
The Reserve Bank of India (RBI) has issued guidelines for recast or resolution of loans taken by individual borrowers who are facing financial difficulties due to the Coronavirus pandemic. Banks have to formulate their own policies on recast of such…
Loan Against Shares (LAS)
Loans Against Shares/Securities is available in the form of an overdraft facility which is pledged against financial securities like shares, units and bonds. Loan Against Shares/Bonds/Mutual Funds is basically a loan wherein you pledge the securities you have invested in…
7 Personal Loan alternatives
Everyone needs to be flexible enough to take loans for their needs. However, the process of taking a loan is a burden, and with good interest on such loans. However, if you work with understanding, then you will get options…
Guaranteeing a Loan – Things to know
Becoming a guarantor for a loan is a huge responsibility. It means you are providing a guarantee to the lender that you shall repay the debt of the borrower if s/he is unable to do so if such a situation…