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Stick to regulated entities for short-term personal loans: Analysts

Avoid online platforms that charge exorbitant interest rates

Topics
Personal Loan | loans | digital lending

Sanjay Kumar Singh 



loans, bank loans, agreement, personal loans
Most problems arise in a category called payday loan. These are small-ticket size (say, Rs 10,000-20,000) loans given for a period of five to 30 days.

The issue of online lending platforms (OLPs) charging exorbitant rates of interest and upfront processing fees from borrowers, and harassing them through their recovery agents, is once again in the spotlight.

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First Published: Thu, August 05 2021. 06:05 IST

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