Why various loans are disbursed differently...
Personal loans are often referred to as all-purpose loans. They come in handy for purchases for which you may not have ready cash. Here is a detailed why and why not of personal loans.
A primer on how to choose correctly between swiping your card and applying for a loan...
Banks charging high interest rate is acceptable, but what isn't is that they do not tell their borrowers the real rate that is being charged.
A personal loan can score over a loan against gold in some cases, if you compare the interest rate, tenure and charges for the two products.
By virtue of it being an unsecured loan, personal loans have a very high rate of interest attached to them.
Opt for personal loans only to meet your essential needs which cannot wait.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
Instant approval, no due diligence, conversion to easy-to-pay EMIs, nominal processing fees are some of the reasons why credit card loans are better
A personal loan is always a risky alternative finance with a higher rate of interest and it is better to close the loan as early as possible.
Need quick cash? A personal loan might just be the answer.
Mallya's comments came a day after country's largest lender, State Bank's Chairman O P Bhatt said that rising levels of stressed assets may push up defaults in the domestic banking system and banks need to enhance their risk management mechanisms to tackle the issue. However, BoB has a comfortable liquidity position and has its NPA levels under control, Mallya said, adding, "the bank has adequate headroom to raise capital but did not have any immediate plans to do so."
Getting a loan today has become very easy, what with the stiff competition prevalent among different banks. The easiest to get among the plethora of loans available are personal loans. Personal loans are easy to get, but they have their pros and cons:
The bad assets or gross NPAs of commercial banks fell to a 12-year low of 2.8 per cent in March 2024 and may go down further to 2.5 per cent by the end of the current fiscal, said the RBI's Financial Stability Report (FSR) released on Thursday. Scheduled Commercial Banks' (SCBs) gross non-performing assets (GNPA) ratio fell to 2.8 per cent, and the net non-performing assets (NNPA) ratio to 0.6 per cent at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR.
Flipkart-backed fintech firm super.money is aiming to be among the top five players on the Unified Payments Interface (UPI) leaderboard by the end of this year, a senior company executive has said. The company, which rolled out its beta version in June this year, has processed about 10 million transactions till date. "We have a target of 100 million transactions for the end of the year.
How your personal loan interest rate is calculated and what you must know before going for prepayment.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Many house owners are not aware of this option and hence end up taking personal loans to renovate their homes
Personal loans can help you tide over the cost credit card dues. Here's what you must know before applying for a personal loan.
Private banks and start-ups offer instant loans on apps as well as through ATMs.
Can you run a business by taking personal loans or structured loans? What are the drawbacks of doing business on such terms? Personal loan expert Harsh Roongta gives his advice on such tricky finance issues.
Personal loans could well be the answer to many immediate financial needs. However, with the myriad of loans available in the market, each claiming its competency, how do you ensure you do not end up in a bad debt or a huge loan liability?
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
Before you rush out to get a personal loan, it is important for you to understand the pros and cons of personal loan, in order to make an informed decision.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Global ratings agency, Fitch Ratings, said the 180 days past due (dpd) two-wheeler loans (loans where EMIs are overdue for over 90 days) have reached as high as 6 per cent of original principal outstanding in some pools.
'In the case of corporate credit, especially to AAA borrowers, lenders will have to take a fresh look at pricing.'
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. "Banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. "This, as I emphasised elsewhere, may potentially expose the banking system to structural liquidity issues," he said.
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
Credit growth in the industrial sector has slowed down due to sluggish economic growth.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The Reserve Bank of India's (RBI's) State of the Economy report for October acknowledged a slowdown in some high-frequency indicators but expressed confidence in a recovery, aided by consumption demand during the festival season. "In India, aggregate demand is poised to shrug off the temporary slowdown in momentum in the second quarter of 2024-25 as festival demand picks up pace and consumer confidence improves," said the report released on Monday.
What if you could have an option apart from personal loan in times of crisis?
The Reserve Bank of India (RBI) has sought granular data from select non-banking financial companies (NBFCs) on their loan book growth. The details sought are on the outstanding product-wise portfolio and the annualised interest charged on them. The annualised interest slabs mentioned are as follows: less than 10 per cent, 10-20 per cent, 20-30 per cent, 30-40 per cent, 40-50 per cent, and above 50 per cent.
'Lack of self-control over spending leads to a credit card debt trap.' 'People think they have money and spend using a credit card, but when it's time to pay, they realise they don't have the money.'
Processing fees, pre-payment charges add to expenses; also low rates not for all
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