Instant Loans

Bank sets reserve price of Rs 85 crore to sell loans from over a million accounts

Secured loans are prime assets; investors selective about segments with quality pressures

Matchmaking service provider Matrimony.com has launched its financial technology platform weddingloans.com aimed at providing financial assistance for marriages, the company said on Friday. The company has partnered with leading financial institutions such as IDFC, Tata Capital, Larsen and Toubro Finance, to offer a comprehensive loan solution. "This platform will go beyond selling loans, it will help customers make the right decision with special focus on their financial well-being," Matrimony.com said in a company statement on Friday. "Matrimony has been a gateway for happy marriages for over two decades now. We are the trusted partners for millions who wish to find the right match. With WeddingLoan.com, we wish to extend our services to make the process of wedding planning, budgeting and execution simpler," company CEO Murugavel Janakiraman said. According to WeddingLoans website, many couples are opting for personal loans for their marriages as wedding prices have continued to

Whether it's the latest smartphone or a shiny new washing machine, Indian consumers are keen to upgrade their lives!

To ensure easy and adequate credit availability to the MSME sector, the State Bank of India (SBI) is planning to enhance the threshold under the instant loan scheme from the existing Rs 5 crore. 'MSME Sahaj - End to End Digital Invoice Financing', provides solutions ranging from applying for the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention. "We have, last year, introduced a business rule engine based, data based assessment of the credit limits up to Rs 5 core. Anybody walking into our MSME branch has to give only their PAN and approval for sourcing GST data, we can give approval in 15-45 minutes," SBI Chairman C S Setty told PTI in an interview. Simplification of the MSME credit is something that the bank is emphasising on and making lending cash flow based backed by the CGTMSE guarantee, he said. This reduces the need for collateral, which would enable a lot of people to come into the formal MSME borrowing system, h

Indian students typically approach banks, NBFCs, and a few international lenders for foreign education loans

Seamless delivery of credit and a quicker turnaround time without requiring extensive documentation will benefit both borrowers and lenders

Out of the total loans disbursed, digital lending has increased from 1.8 per cent in financial year 2022 (FY22) to 2.5 per cent in FY24

The deposits book of the company rose by 26 per cent to Rs 62,750 crore from Rs 49,944 crore as of June 30, 2023

Last month, the Reserve Bank of India (RBI) proposed that banks and non-banking financial companies set aside a provision of 5 per cent of the total loan amount of infrastructure projects

In India, shift to private credit, Nishu said, started before the Covid era, driven by regulatory reforms including the Insolvency and Bankruptcy code, Real Estate Regulatory Authority (RERA) Act etc.

The RBI found some banks charging customers interest on loans before the money was even given to them.

Earlier, in October 2023, Reserve Bank of India Governor Shaktikanta Das had flagged the high growth in certain components of consumer credit, of which personal loans are a component

Fintechs accounted for 50% of the loan volumes disbursed with a ticket size less than Rs 1,00,000 in FY18

The buy now, pay later (BNPL) business may moderate sharply with disbursements down by 15-18 per cent

The no-cost EMI offers allow consumers to buy different products in instalments without paying additional interest or charges. This implies that you will be paying only the actual price of the product

Your CIBIL score plays a key role when you go for loan requests as it will help you get loans at easy interest rates and along with other benefits. Here are the six tips to improve your credit score

Digitalisation and cross-selling shaping high growth in unsecured loans, it says

Once the application is approved, applicants receive instant loan offers, with funds typically disbursed within 24 hours

CARS24 said that rising costs of vehicles, the desire for newer models with advanced features, and the availability of attractive loan packages are encouraging Indians to go for financing