Category Archives: Personal Loan

Amortised loans are one of the many repayment options offered by lenders. When you opt for a loan, one of the most important factors to consider is the EMI. It includes a portion of your interest and principal, which you need to repay on a fixed date every month. Any form of credit, where your …

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Loan underwriting is an important part of the loan approval process. It helps lenders understand a borrower’s creditworthiness, repayment capacity and overall risk profile before deciding whether to approve a loan. The assessment can also influence the eligible loan amount, interest rate, tenure and other terms offered to the applicant.  Lenders typically review financial documents, credit history, income, employment details and …

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A credit review, also called a credit appraisal in some lending contexts, is an important part of the loan approval process. It helps a lender assess how likely a borrower is to repay on time before approving a personal loan or deciding its terms.  During the review, the lender may examine your credit history, income, …

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This article explains what an NOC after loan payment means, its full form, what it contains and how to get one after closing a loan. It also covers why securing this loan closure certificate matters for your credit score and legal safety. Reading time: about 5 minutes.  A No Objection Certificate, or NOC, after loan payment is the …

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A balance transfer in a personal loan is an excellent option to manage your repayment and even save on interest. This facility allows you to transfer your loan balance from one lender to another, which is a feasible solution when a new lender offers a better interest rate than your current one. However, to make …

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Different types of loans help you cover varied expenses by bridging financial gaps. Lenders, such as banks and NBFCs, offer loans based on your usage, eligibility and their internal policies.  You pay interest to enjoy the facility to borrow, so shopping for affordable rates should be your priority when you are looking to borrow. Planning …

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A flat rate of interest differs from a reducing rate, so before you choose a loan, knowing which is better for you is important. Lenders offer various types of interest rates, and a suitable option can lower your borrowing costs.  Read on to understand flat vs reducing interest rates.  What is a Flat Interest Rate?  A flat interest rate …

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Loan repayment problems can lead to an account being classified as a non-performing asset (NPA) after the applicable overdue period. However, an NPA is not automatically written off or waived. A loan write-off is mainly an accounting action taken by the lender, while a loan waive-off means the lender gives up its right to recover all or part of the …

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A loan overdue means you have missed paying your EMI, interest, principal or any other loan-related amount by the scheduled due date. In simple terms, if your EMI was due on the 5th of the month and you did not pay it by then, that unpaid amount becomes overdue. If the delay continues, lenders may charge penalties, report the delay …

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