Finance Blog


Things to be aware of when comparing Personal Loan

Avik Chakravorty

Comparing personal loans is one of the crucial steps at the time of applying for one ensuring that the applicant gets the best possible deal available. However, for the vast majority of borrowers; the first time loan applicants, in particular, weighing options may appear to be a problematic task. The purpose of this blog is to create awareness in regards to the process of comparing personal loans. 1. Compare the offered amounts At the outset firstly, comparing the offered loan amounts is what a first-time loan applicant ought to do. It's not that the upper and lower limits on personal loans as offered by lenders would be the same. 2. Tenures Loan tenures are vital. Lenders offering protracted timescales enables seamless repayment of one’s loan. Nonetheless, there are lenders offering too short a tenure in comparison with others resulting in protracted repayments comparable to cash crunches and financial setbacks 3. Processing fees This is essentially the cost of applying for personal loans. Processing fees are non-refund... Read More

Top 6 Factors affecting Your Personal Loan Interest Rate

Avik Chakravorty

Personal Loan Interest Rates While applying for a personal loan what's of utmost importance is the interest rate which is the only vital aspect determining whether one’s personal loan would be approved or not. The importance of interest rate in any type of loan cannot be emphasized enough. Interest rates also determine the cost that the borrower would incur. Besides, personal loan interest rates are higher in comparison with other loans because its an unsecured loan and it's riskier for lenders as there isn’t any collateral or security against the loan. Different banks provide personal loans and each offers a different interest rate. Therefore, comparing the interest rates of both the private and public sector banks is crucial for opting for a particular bank in either sector. There are varied underlying criteria determining the interest rate. Furthermore, the criteria for offering interest rates for personal loan differ from bank to bank based on whether the l, an applicant is a salaried or self-employed person. Fact... Read More

Availing Personal Loan Demystified in 5 Easy Steps

Avik Chakravorty

If one is contemplating globetrotting or if preparations are underway for an upcoming wedding of one’s dreams one might apply for a Personal Loan Online to realize one’s dreams. With repayment terms being flexible on instant Personal Loans and moreover without any collateral or security required, obtaining a personal loan is relatively easy. The five-step process from documents required to applying for and getting a Personal Loan approved is as follows: Step 1: Requirement Analysis First and foremost, the need for a personal loan online and the amount needed ought to be pinpointed. One may need a loan for funding one’s wedding or for renovation purposes of one’s home and the need may be as low as Rs. 1 lakh or to as high as Rs. 10 lakh for example. Step 2: Is the loan applicant eligible for the loan? Once one is clear about the amount of the loan that one needs, the very next thing on the agenda is checking whether one qualifies or is eligible for the personal loan online that one has applied for. Banks offer fa... Read More



When someone applies for a loan either a Home Loan, Personal Loan or Business Loan or Credit Card the Banks and Issuer evaluates the loan application and eligibility of the person or the business entity on the basis of certain financial ratios. These ratios play a critical and justifying role for approval or rejection of a loan application. These ratios are the touchstones for the loan eligibility check and helps a Banker to take a calculative and intelligent decision to either sanction the loan or not. Those important financial ratios for loan are enumerated below; 1. ACID TEST RATIO The acid test ratio is also known as the liquid or the quick ratio. The idea behind this ratio is that stocks are sometimes a problem because they can be difficult to sell or use. That is, even though a supermarket has thousands of people walking through its doors every day, there are still items on its shelves that don't sell as quickly as the supermarket would like. Similarly, there are some items that will sell very well. This ratio helps in arriving... Read More

How to Manage your Financial world as an Individual?


India has seen a paradigm shift from being a country of “Savings” to “Expending” populace. Our forefathers believed more on saving for future and less spending for the present whereas the today’s generation has catapulted into a contrarian view, i.e., send today, even if you have to take credit, and think later about the future when it comes. The world is undergoing a change and today’s millennials they want to leave in present and don’t want to compromise their present with any future benefits, seen and unseen. Having said that it becomes pertinent for the current generation to, at least, inculcate a sense of financial discipline to ensure that the one does not get trapped into “debt trap” and has enough resources to manage its needs and responsibilities. Personal Loans and Credit cards have become norms of the day and nobody is shying away from availing them even beyond his financial capability of repaying them. In my view there is no harm as long as ne has a control over the expenditure and payment cycle for these types of credit... Read More

Home Loans Interest- Fixed or Floating, which is Better?


Buying a house is one of the foremost desires of individuals and they toil and plan a lot for that. For an average Indian buying a house and erecting a home for himself is an easy job especially from managing financials point of view. Invariably most of us end up taking a Home Loan or Housing Loan from banks and NBFCs to buy a home for ourselves as cash deals are not that easy to have given the socio-economic conditions and purchasing power of the Indians. Since last decade the Home Loan market has seen a great spurt in growth as not only the demand has gone up but also the Banks and Financial Institutions have started marketing the Housing Loans big time. India being on the growth path has enabled many youths to join the job bandwagon and thus they have been financially enabled to pay the required EMI for the home loan. Home loans are long term loan which means the repayment period for home loans are quite large usually, on an average, ranging between 15 to 25 years. The reasons for such a long term are, one, the loan amount- the... Read More


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