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personal loan

A personal loan is a fixed amount borrowed from a banking or non-banking entity for just about any purpose. It can be paid back in monthly installments More

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  • RBI hikes repo rate by 50 bps: EMIs to shoot up for borrowers, interests to rise for depositors Aug 05, 2022 12:36 PM IST

    RBI hikes repo rate by 50 bps: EMIs to shoot up for borrowers, interests to rise for depositors

    Typically, when interest rates goes up, banks tend to extend loan tenure and not EMI first, pushing up the interest outgo for home loan borrowers significantly over long tenures of 15-30 years

  • Personal loans register robust growth in February, shows RBI data Mar 31, 2022 07:30 PM IST

    Personal loans register robust growth in February, shows RBI data

    Credit growth to industry accelerated to 6.5 percent in February 2022 from one percent in February 2021, the central bank data revealed.

  • Banks trim lending to students, fearing high defaults Mar 23, 2022 06:01 PM IST

    Banks trim lending to students, fearing high defaults

    Students are struggling to get jobs after completing their courses on account of factors such as the impact of the pandemic and the ongoing Russia-Ukraine war and this is affecting their ability to repay loans.

  • Navi spams users with loan offers containing PAN data, faces social media backlash Dec 21, 2021 12:16 PM IST

    Navi spams users with loan offers containing PAN data, faces social media backlash

    Spotlight again on the safety of personal data. Experts say people should avoid giving consent to third-party websites and mobile applications to use their personal information.

  • These five banks offer the cheapest personal loans starting at 8.9% Nov 24, 2021 10:22 AM IST

    These five banks offer the cheapest personal loans starting at 8.9%

    Union Bank, Central Bank of India offer the lowest rates on personal loans

  • Union Bank, Central Bank of India offer the lowest rates on personal loans Sep 06, 2021 10:32 AM IST

    Union Bank, Central Bank of India offer the lowest rates on personal loans

    Interest rates start at 8.9 percent for a Rs 5-lakh loan

  • Choosing the best personal loan: Here's a borrower's checklist Sep 01, 2021 10:13 AM IST

    Choosing the best personal loan: Here's a borrower's checklist

    Be mindful of instant loan offers from lending apps, which could come at a high rate of interest

  • Banks offer COVID-19 loans on easy terms: Should you opt for these? Jul 08, 2021 08:34 AM IST

    Banks offer COVID-19 loans on easy terms: Should you opt for these?

    A personal loan should be your last resort while borrowing. If you are in a tight financial situation, first try and tap your emergency corpus if you have one

  • Union Bank, Central Bank of India offer the lowest interest rates on personal loans Jun 17, 2021 02:50 PM IST

    Union Bank, Central Bank of India offer the lowest interest rates on personal loans

    Interest rates on top ten cheapest deals range from 8.9-10.05 percent

  • SBI launches kavach personal loan for Covid patients. Check interest rate and other details Jun 11, 2021 04:02 PM IST

    SBI launches kavach personal loan for Covid patients. Check interest rate and other details

    Reimbursement of expenses already incurred for COVID-19 related medical expenses shall also be provided under the scheme, SBI said.

  • Personal or gold loan: Here are 6 things to consider before opting it Jun 09, 2021 10:07 AM IST

    Personal or gold loan: Here are 6 things to consider before opting it

    Although the difference between the interest rate of both these loans may not be much for those with a good credit profile, the interest rate of a gold loan usually tends to be lower than a personal loan for those with a poor credit profile.

  • To take a personal loan or borrow against a credit card? Here's how you must decide Apr 27, 2021 10:11 AM IST

    To take a personal loan or borrow against a credit card? Here's how you must decide

    The repayment tenure and the loan size must be the main deciding factors

  • Why 'holiday now pay later' schemes may be loan traps Apr 07, 2021 09:05 AM IST

    Why 'holiday now pay later' schemes may be loan traps

    ‘Holiday now, pay later’ scheme introduced by SOTC-Thomas Cook may sound convenient. But, if you default to pay instalments your credit score will take a hit

  • Union Bank, Central Bank of India offer the lowest interest rates on personal loans Apr 06, 2021 10:11 AM IST

    Union Bank, Central Bank of India offer the lowest interest rates on personal loans

    SBI and Bank of Baroda personal loan rate on a Rs 5-lakh loan with a five-year tenure starts at 9.60 percent and 10 percent respectively

  • How Does an EMI Calculator Help in Planning Personal Loan Repayment? Mar 18, 2021 05:48 PM IST

    How Does an EMI Calculator Help in Planning Personal Loan Repayment?

    Calculating monthly EMI payments manually is complicated, time-consuming, and leaves you open to committing errors. However, a personal loan EMI calculator guarantees accurate results in a few seconds.

  • More women borrowed personal loans in pandemic: CRIF High Mark Mar 04, 2021 08:15 PM IST

    More women borrowed personal loans in pandemic: CRIF High Mark

    The active loans to women borrowers stood at 64.82 lakh in the personal loan segment, as against 43.54 lakh in home loans, while auto loans witnessed a 4 per cent de-growth to 18.18 lakh women borrowers, the report released in the run-up to the women's day said.

  • Union Bank, Punjab National Bank offer the lowest interest rates on personal loans Feb 22, 2021 02:12 PM IST

    Union Bank, Punjab National Bank offer the lowest interest rates on personal loans

    The rates on personal loans range from 8.9-10.5 percent

  • Union Bank, Punjab National Bank offer the lowest rates on personal loans Jan 06, 2021 11:51 AM IST

    Union Bank, Punjab National Bank offer the lowest rates on personal loans

    Union Bank of India’s personal loan rate on a Rs 5-lakh loan with a five-year tenure starts at 8.9 percent

  • CRIF report on the rise in personal loan borrowings: How to avoid a debt trap Dec 23, 2020 10:41 AM IST

    CRIF report on the rise in personal loan borrowings: How to avoid a debt trap

    Personal loans are expensive. If you fail to pay even a single EMI on time, your credit score gets impacted

  • Personal Loans: These govt banks are offering cheapest loans at interest rates as low as 8.90% Dec 06, 2020 02:05 PM IST

    Personal Loans: These govt banks are offering cheapest loans at interest rates as low as 8.90%

    If you want to opt for personal loans, here is the list of banks you can refer to which are offering the cheapest personal loans to you. Interest rates on personal loan for all listed (BSE) public and private banks have been considered for the data compilation. EMI is calculated on the basis of interest rate mentioned in the table for Rs 5-lakh loan with tenure of five years (processing and other charges are assumed to be zero for EMI calculation). Interest and charges mentioned in the table are indicative and may vary depending on bank's terms and conditions.

  • Union Bank and Punjab National Bank offer the cheapest personal loans Dec 01, 2020 01:00 PM IST

    Union Bank and Punjab National Bank offer the cheapest personal loans

    State Bank of India charges a higher interest rate on personal loans than what these two banks do

  • Have too many loans? Here’s the order in which you must prepay your debts Nov 19, 2020 09:08 AM IST

    Have too many loans? Here’s the order in which you must prepay your debts

    Credit card dues and personal loans are the most expensive debts. You must prepay these first if you have a surplus

  • SBI, PNB and Union Bank among those offering the lowest interest rates on personal loans Oct 30, 2020 11:48 AM IST

    SBI, PNB and Union Bank among those offering the lowest interest rates on personal loans

    The cheapest personal loan rates range from 8.9 per cent to 10.75 percent across public and private sector banks

  • Majority of Indians willing to take personal loans to tide over COVID-19 crisis: Survey Jun 02, 2020 05:10 PM IST

    Majority of Indians willing to take personal loans to tide over COVID-19 crisis: Survey

    The findings are based on responses from 5,000 people to a survey conducted by IndiaLends, a digital lending platform.

  • Avoid low-interest COVID-19 personal loans, unless strapped for cash May 25, 2020 09:22 AM IST

    Avoid low-interest COVID-19 personal loans, unless strapped for cash

    This is the time to utilize your emergency fund. If you don’t have one, partially use investments meant for your long-term goals

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