A loan against a credit card is similar to a personal loan. It is an unsecured loan, doesn't require any collateral, and has a fixed tenure. Know more about it in this post.
Before you avail of a loan, consider whether the lender you have approached has a provision to prepay the loan. Sometimes, when you have an excessive inflow of cash, you can direct the extra funds to your loan and pay it off before the end of its tenure. This is
An Equated Monthly Installment, popularly known as EMI, is a payment made by a borrower to the lender. This payment is constant or fixed and is made on a pre-determined date every month. The EMI consists of both the interest and the principal and when paid over the course of
When you avail of a loan, you agree to repay the principal and the interest over the entire duration. These are divided into equal installments that are repaid over the loan tenure. If you do not pay the loan installment on time, you may have to pay additional fees along
A loan is an amount borrowed from the lenders with an agreement to repay it within a pre-determined tenure. The lenders charge a certain rate of interest on the borrowed amount. Generally, the principal and the interest amount are paid in equated monthly installments (EMIs). Banks and non-banking financial companies
When you apply for a loan, the lenders check your credit score to determine your repayment capability. It is a three-digit numerical representation of your creditworthiness. A credit score ranges from 300 to 900. Moreover, lenders including banks and non-banking financial companies (NBFCs) may offer competitive terms like a higher
Most individuals and businesses avail different types of loans for meeting their fund requirements. People often take loans for buying a home or car. Moreover, they may avail of personal finance to pay for holidays, weddings, or other requirements. On the other hand, businesses avail of loans for meeting their
The original value of all types of business assets can be expensed every year during their entire lifetime. These expenses are used to reduce the taxable income, which in turn decreases the tax liability for the companies. The two primary methods of calculating the value of the different business assets
A personal loan can be used for a variety of reasons like going on a vacation, renovating your home, or buying an electronic appliance. Several banks offer unsecured instant personal loans to salaried professionals based on their payslips, job stability, and other relevant factors. If you are a self-employed professional,
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