A personal loan is a type of unsecured loan and helps to meet your current financial needs. The following are the mistakes need to be avoided while taking a Personal Loan. 1.Borrowing beyond your capacity: As a primary rule your…
Is taking a loan to get rid of credit card bills a good decision?
Yes, taking a Personal Loan to pay off your Credit Card debts are always considered to be a good decision.Credit card interest rates are huge when you compare to Personal loans.Even one delayed payments of your credit card will result…
What are the factors to be considered while borrowing?
The following are the factors to be considered before the process of borrowing:- Better Analysis: The debt may be worthwhile after careful assessment of risks. A crop loan taken while sowing looks up to a possible good harvest an educational…
What are the rules to follow while taking a loan?
The following factors can help you in the process of taking a loan: 1. Ensure timely repayment:- Never miss a loan EMI repayment. Your loan repayment should be discipline make sure you don’t miss the payment. Missing an EMI or…
Can I apply for a personal loan in a bank if I do not have an account with it?
Yes, you can apply for Personal Loan in HDFC even if you don’t have an account in HDFC. There is no such conditions like you need to have an account in that particular bank where you apply for Loan. The…
Should I go for a loan on credit card or take a personal loan?
If you are considering a loan then opting for a Personal loan is advisable because Credit Card’s interest rates are huge when compared to Personal loans. Credit Card Interest rates are between 2.5 to 3 % per month which comes…
What are the possibilities of getting a loan by a non-salaried person?
Non-salaried person can get a loan provided with very few options available.These avenues of getting loan are useful if the borrower doesn’t have a regular source of income. The following are few available options for non-salaried:- A loan given or…
Guidelines to follow after getting a loan?
Once after getting your loan approved/disbursed make sure you follow all the guidelines mentioned below:- EMI Payment: Paying your EMI on or before the due date is considered to be the primary necessity. Never miss your EMI payments this will…
Can home and personal loans be reduced, for a floating rate?
Yes, for a Home Loan you can ask your bank to reduce your Home Loan rate inline with the reduction in Bank’s MCLR. Recently, RBI reduced the rates by 25 bps so one can expect a reduction in MCLR soon….