You are here: Home » PF » Features » Loans
Have risk appetite? Go aggressive in MFs via sector funds for good returns
Business Standard

Repay higher-cost loans first to reduce interest burden

Consolidating several loans into one that has a lower interest rate and using increments and bonuses to pay off loans will also help you tackle high leverage

Topics
Loan Repayment  |  Interest Rate  |  Personal Loan

Arun Thukral 



Repay higher-cost loans first to reduce interest burden

In India, rising per capita income has led to the pursuit of an aspirational lifestyle. Consumers want to possess the very best of everything. With big financial goals and limited financial means, people often turn to bank credit to fulfil them. Increasing reliance on is evident from the Reserve Bank of India data of February 2018 which showed that retail have touched a new high at 25 per cent of overall . With loans becoming an integral part of the financial landscape, customers need to learn how to manage them effectively.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Sun, May 13 2018. 07:03 IST

RECOMMENDED FOR YOU

.