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Personal Loan

Why Consider Flexi Personal Loans to Manage Travel Expenses?

Why Consider Flexi Personal Loans to Manage Travel Expenses? Planning a trip can be exciting, but it can also be challenging when it comes to managing money. Even with a travel budget, unexpected costs can come up that can strain your finances. If you find yourself running low on funds while traveling, don't worry! Flexi Personal Loans can help. What are Flexi Loans? Flexi loans are a type of loan that gives you a certain amount of money approved by the bank. However, you don’t have to take all of it out at once. You can withdraw just what you need, when you need it. When you pay back some of the amount you took out, you can borrow again if necessary. This means you will have access to funds without needing to fill out a lot of paperwork again. Flexi loans work like an overdraft. You have a limit, and you can use the funds when you want. Benefits of Flexi Loans There are many reasons why Flexi loans can be beneficial for travelers. Here are some of the top advantages: Borrow and Spend on Unplanned Expenses When traveling, you may stick to a budget but still encounter unexpected costs, like an extra activity or meal. Flexi loans allow you to cover these unplanned expenses easily. Since the process is quick and requires limited documentation, you can get the funds you need right away. Pay for the Withdrawn Amount If you only take out a part of what you have been approved for, you only have to pay back that small amount. Interest is charged only on what you have taken out, making it more manageable for your budget. Part Pre-pay at no Additional Cost With Flexi loans, you can pay back part of what you have borrowed without any penalties. This feature helps you avoid paying high interest, making it easier to handle payments. Financial Flexibility Getting a Flexi loan is much simpler than obtaining a traditional loan. Instead of lengthy paperwork and waiting for approvals, you can access funds immediately with just an application. This offers significant financial freedom because you can borrow and repay how you want. Low EMI Most Flexi loans come with low monthly payments, known as EMIs. You can choose a repayment period that suits your budget. This option helps you manage repayments alongside your regular expenses. Personal Loans vs Flexi Loans It’s important to see how Flexi loans are different from regular personal loans. Here’s a quick comparison: Factors Flexi Loans Personal Loans Loan Type You get an amount you can withdraw A fixed amount is given all at once anytime and repay gradually. with a set repayment plan. Purpose They can be used for business, They are meant for specific uses only. travel, or even paying off other loans. Accessibility The funds are approved and You have to go through a long ready for use at any time. process for approval. Interest Charged Interest is charged only on Interest is charged on the full the amount you withdraw. amount provided by the bank. How to Choose a Loan for Their Needs? If you are considering taking a loan, think about these factors to choose the best one for you: The Amount: Ensure the amount you’re approved for fits your needs. Repayment Tenure: Check if the repayment period works with your income. If you need to pay back in two years, is that manageable? Interest Rate: Make sure the interest isn’t too high; otherwise, your monthly payments could be difficult to afford. Prepayment Clauses: Understand if there are any charges for paying off the loan early. Documentation and Processing: If a loan takes too long to process or requires a lot of paperwork, it may not be suitable for you. Conclusion Flexi loans offer a quick way to get the money you need for your trip. You can access the funds all at once or withdraw smaller amounts as you go. But, make sure to read the terms carefully and understand any hidden fees before moving forward with the loan. For more tips on loans and financial products, you can check out the Piramal Finance blog.

08-11-2023

Personal Loan

Personal Loan Customer Care No, Email ID and Details

Do you think about your budget while arranging a vacation to your favourite destination? Or do you dig into your pockets to buy your favourite gadget? Whatever the case may be, a personal loan from Piramal Finance will put an end to your financial problems in an instant. A personal loan from Piramal will help you with all of your immediate financial needs. Whether it’s for school fees or a wedding gift, a Piramal personal loan can help you enjoy a hassle-free experience with no prepayment or foreclosure penalties. [B-01] Features & Benefits of Piramal Personal Loan There are plenty of benefits to applying for a personal loan and here is one of them: There are no prepayment or foreclosure penalties, so you only have to pay the loan amount. Loans ranging from Rs. 1 lakh to Rs. 10 lakhs – so that you can meet your financial demands just by taking out a loan in any amount within the specified range. Minimal paperwork is another huge benefit of applying for a personal loan. Quick sanction and immediate disbursement – loan amount is sanctioned within a span of two to three days, and even can be faster if you have good credentials. The major advantage is the affordable monthly EMIs because of the low-interest rates charged by your lender. You may apply for the loan without worrying about having to pay the whole amount, because of the option of paying it in equated instalments. Flexible repayment terms ranging from 12 to 60 months – Repayment terms are very flexible so you can conveniently pay your loan without being tight on your budget. Who Can Apply for Piramal Personal Loan? Salary employees working within the following categories are eligible to apply: Government Institutions Private Sector Public Sector Multinational Corporations (MNCs) Related Companies Proprietorship Firms Partnership Firms This paid personnel should be between the ages of 21 years and 60 years, but sometimes the age group varies according to the provisions of your bank. Your monthly salary should be at least 25 thousand rupees per month and you should have at least 6 months of work experience in the current organisation. How to Apply for Piramal Finance Personal Loan? You’re probably wondering how to apply for a personal loan from Piramal Housing Finance. Because the process is so quick and straightforward, one can easily apply for it while sitting in the comfort of their own home. Personal loan applications for Piramal Housing Finance can be submitted online from any place. All you’ll need is an internet-connected laptop or smartphone. By following the procedures shown below, you can simply apply for a Piramal Housing Finance personal loan. Before filling out the application, you must first visit the official website and select Personal Loan. Apply by clicking on the “Apply now” dialogue box on Piramal Finance’s website. After clicking there, you will be brought to the application form, where you must submit information such as your name, email address, phone number, pin code, monthly take-home income, and loan amount. Please submit this application once you have completed all of the required information. Following the submission of your application, a sales representative will contact you to continue processing it, and you will know further about processing. Piramal Loan Customer Care You will require the following details: Name Contact Information like Email and Mobile Number Loan Amount State & City You can contact Personal Loan Customer care at any time on the below: Registered Address: 601, 6th Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, Opp. Fire Station, LBS Marg, Kurla (W) Mumbai MH 400070 Branch Timings are 10 AM to 4 PM except on Sundays and the first Saturday. You can also email me at customercare@piramal.com. Or you can call Toll Free Number 1800 266 6444 which is operating from 9:30 AM to 6:00 PM on all days except Sundays. Documents Required for Piramal Personal Loan PAN Card – Required for all Piramal Personal Loan applicants. Identity Verification (any one of the following) Aadhaar Passport Driving License Voter ID Card Proof of Address (any one of the following) Lease Agreement Aadhaar Card / Aadhar Acknowledgement Passport Driving License Voter Identification Card Utility bills such as a telephone bill or an electricity bill, for example (not more than three months old) Documents for Income Proof: Salary slips for the most recent month Bank statements over the last three months Co-applicant If income pooling is necessary for increased loan eligibility, a co-applicant is required. Only the spouse may become a co-applicant. All of the co-aforementioned applicant’s documentation will be requested at the time of loan application. Apart from this, if you find any difficulty, you can reach out to Piramal Personal Loan Customer Care and they will sort your query out. Piramal Finance Personal Loan Risk Gradation All “Borrower/s” on the loan facility are thus notified that the firm takes the following approach and analyzes the following elements when grading risks for each borrower: Profile, the borrower’s market reputation, includes the use of internal credit scoring models employing classic methodologies such as Bureau performance as well as non-traditional data sources. The inherent nature of the product, the type/nature of the facility, refinancing avenues if the loan is bank financing eligible, loan to value of asset funded. Tenure of the borrower’s connection, prior repayment track record, and the historical performance of our comparable clientele. Overall customer yield, future potential, and repayment capability depend on the borrower’s cash flows and other financial commitments. Primary and secondary collateral/security nature and value The type of asset being financed, the loan’s eventual usage reflected by the underlying asset, Interest, the risk of default in the relevant business area Regulatory requirements, if any, and any other elements that may be relevant in a certain scenario The proposed loan’s tenure, size, repayment schedule, and structure (including any planned moratorium, if any) The interest rate for the same tenor for different clients might vary based on the combination of one or more of the aforementioned elements. [B-02] Conclusion Above all, now all your dreams are a few clicks away, so make sure that you reap the most out of it. It is easy to apply for a personal loan with such a user-friendly interface and mu less documentation. Just contact Piramal Personal Loan Customer Care and you are done. Apply now.

08-11-2023

Personal Loan

Travel Loan: Holiday Loans, Apply Personal Loan for Travel

When you travel, it not only relaxes your body but also your mind. It does not matter if you are tired of your busy work routine or want to spend time with loved ones; going on a trip is always a great feeling. But there might be a shortage of funds when you plan to travel. So, what can you do in such a situation? Using your savings may not be the best option, but it is suggested that you take out a travel loan. Many banks and NBFCs offer holiday loans, also known as personal loan for travel. A travel loan enables you to go on a trip as and when you want. There is no need to give security for this loan, and you may use the money as you like. As you need to pay the EMIs to repay a travel loan, there is no stress on your finances. Also, you can get the loan amount in your bank within a few hours; you can easily plan a last-minute trip. Read on to learn how to apply for a personal loan for travel and what benefits you can get from it. [B-01] Features of a Travel Loan A holiday loan, famous as a personal loan for travel, is a popular loan in modern times. People of all ages opt for this loan when they are short on funds but have to go on a trip. It can be a honeymoon, a family trip, or a leisure holiday; this travel loan can be used for all your travel needs. Here are some of the key features of a travel loan: Loan Amount: You can apply for a personal loan for travel for amounts starting from Rs. 1 lakh and going up to Rs. 10 lakhs. Such high-value loans can easily pay for an overseas holiday as well. You can choose any amount in this range based on your eligibility. Loan Tenure: Like every other personal loan, a loan for travel can be repaid in EMIs over a period of time. Loan tenure for holiday loans can be between 12 and 60 months. You can select any loan term based on the EMI amount you can afford. Interest Rate: There is no need to offer a security for this loan, and the interest rates start as low as 12.99%. With such great perks, opting for a travel loan can be a good choice if you are short on funds or want more flexibility in terms of money when you travel. Online Process: Most banks and NBFCs offer an online interface to apply for a personal loan for travel. You need to visit the website or download the mobile app of the lender to complete the process, which will take only a few minutes. Quick Approval: Holiday loans come with a quick approval process where the lenders can process the application in a few hours. The money is sent to your bank quickly, making this loan a good choice in urgent situations. Paper Work: You need not submit too many papers to qualify for this loan. Only some basic papers are needed to complete the process. If you apply online, you can upload scanned copies of the papers. Eligibility for a Personal Loan for Travel To be eligible for a travel loan, you need to meet all the rules given by the bank or NBFC. Some of the key aspects that you must fulfill are: Age: You must be older than 21 but younger than 60 to apply for holiday loans. Income: You must get a salary of at least Rs. 25,000 every month in your bank. Work Type: You must work as a private or public company employee. Work-Ex: You must have a work-ex of at least one year. Out of this last six months must be with the present employer. Paperwork: You need to provide documents like an Aadhar card, a PAN card, a voter ID, a bank statement, etc. to the lender. Credit Score: You must have a CIBIL score of 750 or more to be eligible for a personal loan for travel. Apply Personal Loan for Travel You must apply for a travel loan online, as this method is very quick and easy to complete. Before you start, scan the documents and save them on the system. Offline methods are very slow and not efficient. Here are the steps you must follow to apply for a personal loan for travel online: Visit the official site of the bank or NBFC. You may also get the mobile app and install it to apply for a travel loan. On the home page, look for the link for ‘Personal Loans’ and click on it. Here, you can select the option for a travel loan or a personal loan for travel. After you click on it, a new screen will open on your device. Here you must enter every detail that the lender needs. This can include your name, age, date of birth, PAN number, income, loan amount, loan tenure, etc. You may also need to upload scanned copies of some papers. Verify the details again, and then click on the submit button. You will receive a reference number via email or phone. You can use it to track the loan status. If your profile meets the travel loan eligibility, then the lender’s representative will contact you. You might need to provide some more papers to process the loan. Once complete, you will need to sign a loan agreement. Then the money will reach your bank in a few hours. [B-02] Conclusion Holiday loans offer great benefits when you wish to travel but are short on funds. You need to opt for the best lender to make the most of this loan. Select the travel loan wisely and keep your budget in mind, to avoid any issues in the future. Piramal Finance will help you decide on the best loan for travel. Visit their website to read informative blogs and explore their products and services.

08-11-2023

Mutual Funds

How Can a SIP Calculator Help You in 2025?

Do you want to invest in mutual funds but don’t know where to begin? Want to know more about SIP, market trends, and the best way to calculate your SIP? Do you want to learn how to use a mutual fund SIP calculator and how it could benefit you in 2025? Well, this is the article you need to get your doubts cleared. In this article, you will learn about SIP, how it works, and what its pros are. You will also know why you should use a SIP calculator online instead of using a manual option. [B-01] What is SIP and why should you use it? SIP, also called Systematic Investment Plan, is a popular way of investing in mutual funds. It is an easy way to invest a fixed amount of money at regular intervals and get a good profit. Some people think SIP is a different investment scheme from mutual funds, but in reality, it is a plan to invest in mutual funds. It helps you develop discipline in monetary matters and grows your wealth over time. To know how much you will be gaining from mutual funds by using SIP, you should use a mutual fund SIP calculator. You should follow this path because it allows you to enter the stock market world without entering the high-risk zone. Here are some reasons why you should start looking for SIP: Monetary discipline SIP instills monetary discipline in you, thus preventing you from making bad financial choices. It forces you to make wise choices with the money you have and curbs your extra expenses. Decreases the level of risk It decreases the amount of risk while investing as it is properly structured as per market trends. Now, you can invest in mutual funds without worrying about any sort of risk. High flexibility You can increase or even decrease the amount of money you invest without worrying much about it. This helps you maintain flexibility in your investments and keeps you hassle-free. Experiencing a compounding effect You begin to know the true power of the compounding effect. Suppose, you invest Rs 500 every month for 20 years, you will have Rs. 3.82 lakhs at the end of the 20 years, and this is the compounding effect. Helps in planning Once you know how the market works and how you can bring about significant change through small investments, you can plan your future investments accordingly. This gives you a vision of how much you should expect while investing. To better plan your investments, you should use a SIP calculator online to calculate your mutual fund returns. What is a SIP calculator? A SIP calculator is a tool that helps you calculate your returns from your mutual fund investments. A SIP calculator online also helps you get a clear picture of how much return you should expect after investing a particular amount of money for a fixed period of time. Investment experts suggest that one should keep using a mutual fund SIP calculator now and then. This will help the person keep up with investment updates and market trends. How to use a SIP calculator? A SIP calculator uses a standard formula: F=P x {[(1 + r)n – 1] ÷ r} x (1 + r) Where F is the money you will be getting at the end of your maturity period, P is your principal money, which you invest through the SIP, r stands for your compounded rate of return, and n is your number of years. For instance, if you invest Rs 8,000 every month at an interest rate of 10 percent for the next 10 years, then your total money will be around Rs 16,52,416 using the above formula. To use a SIP calculator online, you need to follow some simple steps: First, enter the weekly or monthly investment amount in the requisite bar. Now, enter the interest rate in the SIP calculator online, that you will be getting from the funds. Enter the number of years/months for which you should be investing your money. Click on “Calculate”, and you will have your mutual fund return amount right in front of your screen. Why should you use a SIP calculator? You can plan your investment more effectively now because you can try different investment amounts and interest rates. You can estimate the correct values of the returns on your investment, ensuring better outcomes. Using a SIP calculator online is a very time-saving option as you get the results in less than a second. It is very handy, effective, easy to use, and user-friendly, which means you won’t have to worry about anything while calculating your mutual fund returns. The results that a mutual fund SIP calculator shows you are 100 percent accurate as it is generated by an AI. [B-02] Conclusion A SIP system improves the quality of your investment and increases your rate of return. It saves time and money for you by incorporating financial discipline. A mutual fund SIP calculator gives you all types of scenarios with your investment options and helps you estimate your interest. Are you looking forward to reading such articles and gaining more knowledge about SIPs, mutual funds, personal loans, and other investment portfolios?

08-11-2023

Other

How to Calculate Land Area

Looking for land to purchase but worried about how accurately to measure it before buying? The land area calculator will help you to calculate the same. Land area is measured differently across India’s many states. Find a common international measurement system that corresponds to the state’s local land measurement term. Land calculators on the internet make it easy to get an exact measurement. Read this article to learn about the methods of calculating or measuring land. Importance of Measuring a Land Many techniques exist for accurately surveying both small and large, erratic plots of land. Some approaches are straightforward and based on elementary geometry, while others are more involved and could make use of global positioning system (GPS) data and satellite photos. This piece explores the various tools and methods at the surveyor’s disposal. Before purchasing land, it is important to construct a boundary wall, and settling a boundary wall dispute with a neighbor is important. Getting an accurate measurement of the land is also important. We can take the necessary measurements and calculate the results using only the geometry we learned in high school. If, however, the land in question has a peculiar shape or if you intend to acquire a very large plot of land, say, a farm that is several miles across, then you need to use the advanced technique. How to Measure a Land or Plot Area The methods for measuring land are listed below. Check them out: Calculate using Geometric Method The geometric method involves surveying and plotting the irregularly shaped plot over a sheet of graph paper. The land is broken up into geometric shapes whose areas may be calculated mathematically. To fill up a map, one begins with the largest geometric figure that can be drawn neatly, then works their way down to ever smaller ones. The areas of each of them are determined, and their sum provides the total area. For example: Area of Rectangle: Length × Breadth Area of Square: Length × Length Triangle Area = 1/2 Base Height Area of Trapezium: 0.5 × (Length 1 + Length 2) x Height Using these formulas, you can calculate the correct area. Calculate Using Planimeter on Map You can get a little tool called a planimeter if you need to measure the size of a flat section in a 2D diagram. All shapes, both regular and irregular, can be accurately measured using this apparatus. Just flip it wherever you need to and run the end pin along the area’s perimeter to get an accurate reading. It can easily move in any direction because of its flexible connectivity. To make use of a planimeter, you must first acquire a map or aerial snapshot of the area. Google Earth, Wikimapia, and other programs now provide access to high-resolution satellite images. After measuring the lengths and angles of the various lines with a planimeter, you may use that information to create your own map. The Issue of Scale May Arise The area will be reported on the planimeter’s own scale, usually expressed in square meters, so you’ll need to do some converting before proceeding. With the knowledge of the map’s scale ratio and a known area on the map, you may determine the area of a small square drawn anywhere on the map. Finally, you get an assessment by running the planimeter across it. If your planimeter reads 1.5 square meters, but your square is 300 square feet, then 1 m2 is 200 feet square. With this in mind, to convert the planimeter’s final reading in square meters to square feet, just multiply the metric value by 2. Calculate By Using Measuring Wheel You can also use a measuring wheel to get a rough estimate of the size of the area. For the most part, it functions similarly to a planimeter. All you need to do is walk around the perimeter of the area to get an accurate reading. Make sure you follow the above-given instructions at the exact location. Created in the form of a single bicycle wheel, it must be rolled to all of the property lines to obtain an accurate measurement. When you get to the starting point, it shows the current reading in the units you chose. Calculate By using Graph Paper You can use graph paper to superimpose a map on a transparent sheet, or you can take a photostat on a slide of clear plastic. Once that’s done, it can be clamped over a sheet of graph paper of the appropriate size. Given that we know the area of every square in the graph, the area can be calculated by counting the squares and multiplying that number by the map’s scale. Calculate Using GPS GPS, which stands for “global positioning system,” is a network of satellites that, when used with a portable receiver, can pinpoint your exact location. It is useful for calculating the area of large tracts of land by first traveling to their extremes and noting their coordinates. Calculate Using Aerial Photographs A planimeter or graph paper with the appropriate scale can also be used to measure land areas seen in aerial images. For land surveys, these are a must-have. If the terrain is marked clearly or has good contrast, this is a really helpful tool. Conclusion The purpose of this article is to give a comprehensive examination of land area calculators. Whether you’re setting out small or large plots of land or buying a new house, you’ll need to know how much space you have. Land calculators help you calculate the area of land in acres. Before investing, it is also important to be aware of the land area. To understand more about land area calculators, do not forget to visit the official website of Piramal Finance. Read their informative articles on various topics and check out the different products and services they offer.

08-11-2023

Home Loan

What Is Home Loan Eligibility Calculator?

If you’re thinking of buying a home, you’d be wondering if you’re eligible for a home loan. You’ll want to take a look at the Home Loan Eligibility Calculator. This quick tool can help you find the best possible loan for your needs based on your income, debt-to-income ratio, and other factors. Moreover, a loan eligibility calculator can provide estimates of your monthly EMIs and the total cost of your new home. So, why not give it a try? You may be surprised at just how helpful it can be. Let us see how this Home Loan Eligibility Calculator can help you more. What is the Home Loan Eligibility Calculator? If you are buying a home, the Home Loan Eligibility Calculator can quickly assess the amount of money you qualify for borrowing. The calculator takes into account factors such as your annual income, debts, and down payment. By entering this information, the calculator can provide you with an estimate of the maximum loan amount that you could apply for. With this tool, you will then have a clear idea of the amount of money you would need to withdraw from your savings and manage for monthly EMIs. Getting your numbers right is the first step towards financial clarity. The home loan eligibility calculator can also help you compare different lenders and find the best home loan options around your eligibility criteria. This can be helpful when comparing different loans or trying to determine how much you can afford to borrow. When using a Home Loan Calculator, it is important to remember that the estimate is just that—an estimate. Your actual monthly payment may be higher or lower than the estimate, depending on factors such as: • closing costs, • escrow fees, and • your lender’s terms. However, this information will help you weigh your options and make wise decisions. You will be able to better determine and control your financial situation. As a result, the home loan, which could have strained your current finances, might be significantly reduced or controlled. Home Loan Eligibility Calculator Features The tool offers you a variety of features. The three key features are: 1. The Loan Amount is the total amount of money that you will borrow from the lender. 2. The Interest Rate is the percentage of the loan that you will need to pay back in addition to the principal amount. 3. The Loan-to-Value Ratio is the portion of the loan collateralized by your home equity. Once you have entered this information, the Home Loan Calculator will provide you with an estimate of your monthly EMI. This calculation is based on current market conditions and is subject to change. Nevertheless, it is a valuable tool that can help you budget for your new home purchase. Simple Process A Loan Eligibility Calculator is a user-friendly tool that can help you determine your eligibility for your specific loan profile. Simply enter your current income, monthly expenses, and other relevant information. The calculator will generate an estimate of how much debt you may need to take to afford your desired purchase. The process is simple and quick and leaves very little scope for errors. Free and Easily Accessible It is free to use and easy to access, so there’s no reason not to take advantage of it. Does it not ask you to make any payments to assess the loan amount you will be eligible for? Home Loan Eligibility Calculator Benefits Here are some of the many benefits of using a Home Loan Eligibility Calculator: • It helps you to see how much your monthly repayments will be. This means you can budget accordingly and make sure you can afford the loan. • It shows you how much interest you will pay over the duration of the loan. This can help you to compare different loans and look for the best deal possible. • It helps you understand how much of your loan will be upfront and how much will be due each month. This is crucial information to have when making financial decisions. • A Home Loan Eligibility Calculator is a quick and easy way to get an estimate of your monthly repayments. This can save you time and hassle when shopping around for a home loan. • A Loan Eligibility Calculator also helps you verify the repayment schedule your lender might provide you for the home loan. This way, you can ensure proper conduction. However, remember that the calculator doesn’t calculate the additional cost your lender might charge. • Using a Home Loan Calculator, you can see which bank has the most affordable monthly EMIs. You’ll also be able to compare offers from different lenders side-by-side and determine if it’s worth going through with a purchase! [B-02] Parting Words Nowadays, with all these features and benefits that are made available for you in advance online, it’s quite easy to calculate your financial requirements and eligibility. What would your next ten years look like once you take this home loan? You might be able to picture it in a much clearer sense. Perhaps, once you use the calculator, you will be able to narrow down your options and make better decisions related to your home loan. Use them wisely, and don’t take a loan of more money than what is required just because the numbers look good. If you need help with home loan finances, you can always get help from experts at Piramal Finance. They can guide you on a complete home loan journey.

08-11-2023

Personal Loan

How to Get a Personal Loan Despite a Low CIBIL Score

If you’re looking for a personal loan with a low CIBIL score, don’t worry. You’re not alone. Many lenders are willing to offer you a loan despite your low CIBIL score. In this article, we’ll get through everything you need to know, from what a CIBIL score is to how to get a personal loan with a low CIBIL score. Let’s get started! [B-01] What is a CIBIL Score? A CIBIL score for a personal loan is an indicator of the loan’s creditworthiness. The CIBIL score uses seven factors to calculate its rating: payment history, current indebtedness, assets, liabilities, income levels, employability status, and education level. The higher the score, the better. When you apply for a personal loan through a bank or finance company, your credit history will be checked against this database to see if you qualify for a high-quality loan with minimal risk. If you do not have a good CIBIL score, or if your current debt exceeds your available assets, then you may be offered lower rates or denied credit altogether. Knowing your CIBIL score can help improve your chances of getting approved for the right personal loan at the best possible rate! Is it possible to get a personal loan with a low CIBIL score? Yes, it is possible to get a personal loan with a low credit score. When you apply for a personal loan, the lender will take into account your individual financial history and credit rating. If you have bad debt or a poor credit history, it may be difficult to get approved for a personal loan. However, there are still several lenders that offer low-credit loans to people who meet certain qualifications. Here are a few ways in which you can get a personal loan despite having a low CIBIL score: Provide proof of a stable income Proof of a stable income is one of the most important factors that lenders look for when considering a personal loan. A good way to demonstrate this is by providing evidence of an active and recurring income stream. This can be in the form of bank statements, pay stubs, or any other documentation that proves you can support yourself financially. If your current credit score isn’t high enough to qualify for a traditional loan, then you may be eligible for a low-CIBIL loan. Low-CIBIL loans are designed specifically for those with poor or no credit histories. These loans have lower interest rates and shorter repayment periods than traditional loans, making them more affordable options overall. Apply for a joint loan as a co-applicant If you want to get a personal loan with a low CIBIL score, applying as a co-applicant can be an effective way to do this. Joint loans are particularly beneficial for applicants because they reduce the amount of documentation required and generally make the pre-approval process faster. Also, joint loans often have lower interest rates than individual loans, making them more affordable overall. There are several factors to consider when applying for a joint loan, so be sure to speak with an advisor about your specific situation. Joint loans are typically easier to get approved because the terms of the loan are negotiated between both parties. This means that your CIBIL score for a personal loan does not play as much of a role in the approval process. Resolve your credit report errors Your credit report is one of the most important factors when applying for a personal loan. So, if there are any errors or corrections on your credit report that you need to resolve, you must do so as soon as possible. There are several ways to fix errors on your credit report, and each one will have different costs and timelines. However, some common methods include the following: Fixing typos: This usually only takes a few minutes and can be done online or by phone. Correcting inaccuracies: This process can take longer (several weeks) and may require travel to the agency where your file was originally filed. Applying for an exemption from reporting: This option requires more paperwork (usually 10 pages), but it may allow you to keep certain information off of your reports altogether (like bankruptcy). NA or NH in a credit report NA or NH is not usually a visible feature in credit reports, but it can be an important part of your credit history. NA stands for “no account,” and NH means “no historical hit.” These terms indicate whether you have ever had any dealings with the creditor, either through borrowing money or using their services. These are certain measures that you can take to get a personal loan with a low CIBIL score. This is because your CIBIL score is not the only factor that lenders look at when approving a personal loan. Your credit history and current debt levels are also important factors. Ask for a lower amount If you have a low credit score, it may be best to request a smaller personal loan amount.This is because lenders use credit scores as one factor when determining whether or not to offer you a loan. When you request a small loan, they will not object to granting it because the risk is lower than when you request a large loan. [B-02] Conclusion After reading this article, you might have realized that getting a personal loan with a low CIBIL score is possible with all the right steps. Just keep in mind some of the tips mentioned above to get a loan without stress. Do remember, however, that such loans are not available for everyone, and it depends on your financial profile. Thus, do check your eligibility before applying at any bank or money lender.

08-11-2023

Personal Loan

Personal Loan - Apply for Instant Personal Loan Online

No matter how well you plan finances, everyone needs money at some point. People borrow money from friends, get a loan, or use their credit cards when this happens. Each choice has its pros and cons. Borrowing money from friends or family is risky and could cause problems in the future. What about credit cards? Not a great option! An instant loan is the best option if you need to buy something, pay off debt, ease a cash flow problem, or pay an emergency medical bill. What is a Personal Loan? A personal loan is available from a bank or a non-banking financial company (NBFC) to pay for individual needs. It is issued based on essential factors like income level, credit history, employment history, ability to pay back, etc. Unlike a house or car loan, a personal loan is not tied to any property. Therefore, the borrower doesn’t have to use gold or property as collateral. However, personal loans have higher interest rates than house, car, or gold loans. Features of Personal Loan Flexibility: Personal loans can be used in many ways. People can borrow money for a wedding, a trip, school, medical bills, jewelry, electronics, etc. It’s a simple way to fix anyone’s money problem right away. Quick Payment: Pre-approval is usually a quick process. An instant personal loan requires eligibility. Having good credit is a plus. Depending on the lender, the loan usually takes 24–72 hours to be paid out. Existing bank customers may be able to get quicker approval online. Less Paperwork: A personal loan requires less paperwork, which makes things go faster. The lender’s customer service helps applicants streamline the process. No collateral: Personal loans don’t need collateral if you meet the requirements. It helps people in emergencies. Personal loans are the best way to get cash quickly. Tax benefits: People can get a tax break if they use a personal loan to build or fix their homes. Section 24B lets them get an advantage of Rs. 2 lakh. People must track how much money they use for the above things. Personal Loan Eligibility Criteria Lenders give personal loans so people can fulfill their individual needs. Personal loan options are flexible and quick so anyone can get help as soon as possible. Personal loans are made so that most people who need money can get it on time. Criteria Requirement Applicant’s age When applying for a loan, applicants must be at least 22 years old and can’t be older than 58. Work experience At least one year of work experience and at least two months with the current employer. Income Minimum salary of Rs. 20,000 per month. Employer category Salaried & self-employed can apply for an instant personal loan. Citizenship Indian citizenship holders Documents Required for Personal Loan Personal loans come with minimal documentation. People can get an instant personal loan by sending their paperwork online. Here is a list of what people need to show to get an instant personal loan: List of Documents KYC documents PAN card Aadhaar card Address proof Aadhaar cardPassportRation cardUtility billsDriver’s licence Income proof Latest monthly pay slip from the current employer Bank account statement Original PDF format bank statement for the last three months. How to Apply for an Instant Personal Loan? Lenders ensure that getting a personal loan is easy and quick. The online personal loan facility allows everyone to stay safe during the pandemic and still get all the money they need. To get a personal loan, people can follow the below steps: Step 1: Go to the online personal loan page. Step 2: Hit the “Apply Now” button. Step 3: Choose a salaried or non-salaried worker option. Step 4: Fill out the online form with personal information Step 5: The applicant has to choose how much he wants to take and how long the payback time is (up to 60 months). Step 6: After that, they should upload the required documents: PAN card, Aadhaar card, proof of address, proof of income, most recent pay stub, most recent three months’ bank statements, and degree certificate. Step 7: The expert team at the lender company looks over the loan application. Step 8: Once the personal loan is approved, the money is sent to the applicant’s bank account. Once the money is in the bank account, people can use it however they want. How Much Instant Personal Loan Can One Borrow? Most of the time, it depends on the applicant’s needs. Banks usually limit how much one can borrow. Generally, banks try to maintain that EMI doesn’t cost more than 40–50% of monthly income. The amount of the personal loan is also based on the applicant’s current loans. For self-employed people, the loan amount is based on their most recent profit/loss statement and any other debts (business loans) they may have. Tips Before Applying for a Personal Loan It’s easy to get a personal loan. Most people like personal loans because they are flexible and don’t need collateral. But there is always a catch, so everyone should think about the following before applying for an instant personal loan: Know the Actual Needs Why would someone want to take a personal loan? It’s a question that most people ask when they want to get an instant personal loan. So, based on their finances, everyone should figure out how much of a personal loan they need. Look at the Interest Rates The interest rates on personal loans vary by lender. However, the average rate is between 10% and 26% per year. So, before applying for a personal loan, consider the interest rates and choose the lowest one. Processing Fees When processing a personal loan, the lender deducts some administrative fees. Processing fees vary by lender, so compare costs before applying for a personal loan. Fees for Foreclosure Personal loans can be paid off or taken away after a particular time. When a loan is paid off early, some lenders charge fees. Choose a lender who doesn’t charge extra fees for paying off the loan early or foreclosing. [B-02] Conclusion Following the tips above, anyone can apply for a personal loan online. If you choose the right lender, everything will go smoothly and stress-free. Where should you look now? Use these tips to decide which loan offer is best. Instead of going with the flow, figuring out what’s best for one’s finances is essential.

08-11-2023

Personal Loan

Complete Guide On a Car Loan EMI Calculator in India

Are you planning to buy a car on EMIs and wondering how much to pay? If you are looking for a hassle-free online tool that can help you decide if a particular loan option is suitable for your finances, a vehicle loan EMI calculator will help you to calculate your loan payments. This article examines a vehicle loan EMI calculator and a car loan interest rate calculator to estimate how much you will spend on your car loan. [B-01] Car Loan EMI Calculator The vehicle loan EMI calculator is a useful tool to estimate monthly loan payment obligations. For this, you need to enter the necessary data into the tool. There are three pieces of information necessary to arrive at the result: The sum of money you are hoping to borrow (loan principal). The timeframe you want for making payments (loan tenure) The interest rate When you enter these numbers into the EMI calculator, it will tell you how much you need to pay each month to pay off the car loan in full. Formula For Calculating Car Loan EMIs The following is the formula for the car loan interest rate calculator: EMI = P R (1+R)n [(1+R)n]-1 P = Principal loan amount R = Rate of interest calculated on a monthly basis i.e. R = annual rate of interest/12/100) For instance, if R = 10.75% per annum, then R= 10.75/12/100 = 0.0089 and N = the number of monthly instalments. How To Use a Vehicle Loan EMI Calculator Instantaneously, this vehicle loan EMI calculator will let you know if you can afford the monthly payments. You need to enter: The sum borrowed for car financing The interest rate on car loans (percentage) The period of the car loans (in months or years) The vehicle loan EMI calculator will recalculate and update the result as you make changes to the data entered. The monthly payment (EMI) and total interest (paid over the life of the loan) are both calculated by the vehicle loan EMI calculator. The entire amount of principal and interest that you are responsible for paying can be calculated with the help of a vehicle loan EMI calculator. This will help you visualise the full extent of your potential financial commitment before you decide on a car loan. A reasonable EMI-to-income ratio would be around 40% of annual household income. It is advisable to check what your monthly payments will be with a vehicle loan EMI calculator before you commit to a loan. Features of Auto Loans and Monthly Payments Car loan monthly payments are determined by three key variables: car loan principal car loan interest rate car loan tenure To calculate your loan EMIs accurately, you need to first have a firm grasp on how each of these factors plays a role in your monthly payments. Doing so can help you select the right lender with confidence. These are the three key variables in detail: Car Loan Principal The monthly payments you will have to make on your car loan depend on how much you borrow. The EMIs will be higher if you borrow Rs. 6,00,000 for 2 years as opposed to Rs. 4,00,000 for the same period. Consequently, you might choose to get a smaller loan amount if you wish to considerably reduce your EMIs. You may need to come up with the difference between that amount and the car’s asking price. Car Loan Interest Rate In general, interest rates differ from one lender to the next. The interest you pay on a loan is always going to be a significant portion of the total cost of the loan, so naturally, a lower rate is preferred regardless of the loan’s size or length of term. The interest rate your lender gives you will depend on your qualifications and credit history, among other things. Car Loan Tenure The length of your auto loan is measured by the total number of monthly payments, or EMIs. In some cases, stretching out loan payments over a longer period of time can reduce monthly payments, but will ultimately cost you more in interest. Similarly, the overall cost of the loan can be kept in check even if you want to pay it off in a shorter time frame by paying a larger monthly instalment fee. A vehicle loan emi calculator allows you to play around with different loan amounts and loan terms to see what works best for you. Benefits of Car Loan EMI Calculator For many people, our auto loan EMI calculator is an invaluable resource. Some of these are not: Convenience: As was previously shown, EMI calculations performed by hand can be extremely time-consuming and error-prone. When computing the outcome, it’s not uncommon to make a mistake. On the other hand, the EMI calculator’s user interface is cleaner and more straightforward. Accurate Results: When dealing with such large sums, any mistake can have a devastating impact. When you try to figure out your auto loan EMIs without a calculator, you greatly increase the likelihood of making a mistake like this. Consequently, make use of the less difficult choice so as to save unnecessary effort. Faster calculations: It is another advantage of car loan EMI calculators over the manual method, which has the drawback of taking several minutes longer to reach the conclusion. You may get the same information nearly instantly from an auto loan EMI calculator if you enter the necessary information. Amortisation schedule: You can see how much of each EMI goes toward paying down principal and how much goes toward interest by looking at your loan’s amortisation table, also known as its amortisation schedule. When you plug your auto loan details into an EMI calculator, you get a table like this as a result. There’s no denying the fact that a car loan When trying to get a loan to buy your ideal car, an EMI calculator is virtually a necessity. [B-02] Summing-up In this essay, we’ll take a deep dive into car loan emi calculators in India so you can make an informed decision. Consider carefully whether getting a car loan is the best option for you or not. It’s crucial to consider the flip side of the debt repayment coin before making progress. Before applying for a car loan, talk to your bank and get the advice of those who have done it before. Using an EMI auto loan calculator, you may determine how much you can afford to borrow and still afford to make your monthly payments comfortably. Investment Reliable does not offer financial advice, but we do provide unbiased information and evaluations on trading, investing, and finance. Users ought to always carry out their own research. Also visit, Piramal Finance has more in-depth, educational, financial-related articles.

08-11-2023