Understand the Impact of GST on Personal Loans

Do you need to pay GST on personal loan EMIs? The answer is no. However, it’s levied on processing fees and other charges. Being aware of these tax implications beforehand helps you manage your repayments without much hassle. This is because these charges can impact your borrowing costs significantly.  As you may know, taking a …

Personal Loan Sanction Letter: Meaning, Format & Process

If you’ve applied for a personal loan, one of the first things you might wonder is – ‘what is a personal loan sanction letter and why do lenders issue it?’ This document is a vital part of your loan journey, as it confirms whether your loan is initially approved and on what terms. Before the …

Mistakes to Avoid While Taking a Loan

Loans are easy and quick to apply for without risking any assets. However, there are several factors for you to consider before applying for instant personal loan to ensure that it is the right choice for you.  Read on to know what they are and how you can avoid common mistakes while applying.  Factors to …

4 Reasons Why Personal Loans for Holidays are Ideal Solutions

Whether it is a solo trip or a holiday with friends or family, taking a vacation is essential to feeling recharged and refreshed. Rising costs of travel and stays, however, can delay your trip or result in a dip in savings. Loans for holidays offer a simple solution to avoid this and enable you to …

Floating Interest Rates Vs Fixed Interest Rate

Where do you stand in the floating vs fixed interest rates debate? Confused about why this matters? Deciding between fixed and floating interest rates is crucial as it affects the amount you have to pay as EMIs. Choosing the right type of interest rate allows you to save more on interest payments.  In any discussion …

What Is Microfinance? How Does it Work

Microfinance meaning, in simple words, indicates providing banking facilities to those who do not have access to traditional financial services. Financial services are an efficient way to help meet your personal goals. But how do these solutions impact the economy on a larger scale? Obviously by facilitating cash flow and liquidity in the market.  That …