India’s personal loan market is projected to grow at a CAGR of 26.55% between FY2025 and FY2032, according to a report by Markets and Data. This growth aligns with the country’s expanding credit landscape, supported by economic development. With personal loan volumes rising rapidly, borrowers must be extremely careful about opening new credit lines. Instead,…
As the Indian economy continues to evolve and grow, the travel theme is gaining traction. The aspiration to visit new places and travel with joy is becoming an integral part of life for many Indians. Now, to meet such aspirations quickly and seamlessly, more and more people are applying for personal loans and opening up…
Personal loan: If you are planning to raise a personal loan from a bank or a non banking financial institutional (NBFC), it is vital to compare the interest rates charged by different institutions. Typically unsecured loans are given at fixed rates of interest. This means when a loan is taken at 11 percent interest rate, it will…
Personal loans come in rescue when individuals suffer from sudden or unexpected financial challenges. Some major challenges during which personal loans come in handy are: medical expenses, education expenses, surgery costs, marriage expenses etc. Still, even after all the ease such personal loans provide borrowers it has been witnessed that the process of foreclosing i.e.,…
During a medical or any other emergency, an individual may take a personal loan from the first lender willing to approve and disburse the funds. However, once the emergency is taken care of, the individual may realise that the personal loan which they have taken has come at a higher interest rate than required. In…
Pre-closing a personal loan from any bank is a good financial decision, but one must be cautious while doing so by keeping certain important points in mind. Firstly, a personal loan is a very risky line of credit that borrowers avail. This is risky because it comes with the potential of higher repayment terms, interest…
Closing out old accounts of credit is a serious decision when it comes to your credit score, one that most people are unaware of. With so many Indian consumers looking for ways to mend their credit well-being, it is important to look at the effect closing out old accounts has. This particular write-up is dedicated…
ICICI Bank offers divergent personal loans for fulfilling different finance needs of the customers. Now, if you may have taken a personal loan from ICICI Bank then you should check your outstanding amount consistently so that you are in a position to handle your finances in a planned manner. This article is dedicated to help…
A sudden drop in your credit score can be a shock, especially when you do not know why this has occurred. For borrowers in India, a good credit score is the key to taking personal loans and credit cards at the minimum rate of interest possible. That is why knowing about your credit score drop…
Life’s most consequential change of status brings extensive social transformations and emotional impacts which also affect your financial situation. Joint financial decisions made with your spouse will impact both your creditworthiness regardless of how marital union does not immediately merge credit scores. Knowledge about how marriage impacts your credit can assist you both to make…
