'If the borrower can't repay the loan due to lack of income or losses from speculative activities, they risk defaulting on it.' 'This could lead to the bank seizing the property.'
'Look not just at the interest rate but also the processing fee.'
Lakme Fashion Week celebrated their 20th anniversary with a grand bash in Mumbai.
While most borrowers calculate the gain they stand to make from switching to a lower interest rate, they often fail to take into account all the costs.
If you pledge market-linked instruments and their value plummets, you will have to provide additional collateral, points out Sanjay Kumar Singh.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
In July 2013, RBI warned banks against sending unsolicited cards.
Rishi Mehra on the home work you need to do before opting for one
It takes a longer time to avail of these loans, owing to tight due-diligence process of banks.
Rishi Mehra explains the pros and cons of buying a used car on either car loan or personal loan
If you opt for a petrol variant, you will need to reapply for loan.
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