Page 4 - Personal Loans

1 in 5 take personal loans for vacations, non-metros drive demand: Survey

Dubai and Goa were the most popular destinations among the respondents who said they financed their vacation through a personal loan

A snapshot of personal loans offered by various banks with details

A snapshot of personal loans offered by various banks with details

Flipkart offers upto Rs 5 lakh in lending to customers with Axis tie-up

Flipkart's introduction of customer lending services is aimed at boosting sales by providing an additional financing option to customers

Home loans inquiries slowing; marked increase in unsecured credit: Report

Home loans, the mainstay of retail lending, witnessed a dip in demand in the December quarter, a credit information company (CIC) said on Wednesday. However, there has been a 'marked increase' in demand for credit cards and personal loans, which constitute the more stressful unsecured loans portfolio for banks, Transunion Cibil said. The demand for unsecured lending products is being driven by the adoption of consumption-led credit products, the CIC said. Inquiry volumes for home loans for the three months ending December 2022 were 1 per cent lower than the year-ago period, while the same for personal loans and credit cards shot up by 50 per cent and 77 per cent, respectively, it added. From a loan origination perspective, home loans witnessed a 6 per cent dip by volume and 2 per cent by value in the December quarter against a healthy uptick in personal loans, credit cards and two-wheeler loans segment. It can be noted that the period saw a surge in interest rates, which led to ..

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Share of industrial loans in bank credit on decline, personal loans up: RBI

The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, the Reserve Bank said on Wednesday. Both industrial and personal loans had nearly 27 per cent credit share each in March 2022, as per the 'Basic Statistical Return on Credit by Scheduled Commercial Banks (SCBs) in India March 2022' released by the RBI. Meanwhile, loans to the industrial sector recorded 4.7 per cent growth in 2021-22 after witnessing a decline in the previous year. Earlier this month, Finance Minister Nirmala Sitharaman nudged the corporate sector to increase investment in the manufacturing sector. The RBI further said as credit demand from the retail segment has become more distinct in recent years, the portion of small-sized loans is also going up steadily. The share of loans up to Rs one crore has surged to nearly 48 per cent in March 2022 from around 39 per cent five years ago, whereas the share of loans above Rs 10 crore

Sachin Bansal-led Navi Tech gets Sebi green signal for Rs 3,350 cr IPO

The firm provides digital-first distribution of personal loans, home loans and health insurance to customers without the need of physical infra

Google removes over 2,000 personal loan apps since Jan on safety concerns

Several borrowers have complained of harassment and blackmailing on loan repayment on the platforms

BNPL credit facility used without caution can lead to a debt trap

Understand all the attendant costs of this facility; delayed repayment will hit your credit score

Explained: What is a credit score, why is it important & how to improve it

A credit score is among the first things a financial institution would check in order to sanction a loan

Auto, home and personal loans become expensive with banks raising rates

Auto, home and personal loans have become costlier with banks and other financial institutions increasing interest rates following the repo rate hike by RBI on Wednesday. A number of banks including ICICI Bank, Bank of Baroda, Punjab National Bank (PNB), Bank of India, Indian Bank, Indian Overseas Bank and the country's leading mortgage lender HDFC Ltd have raised lending rates for their customers. Repo is the rate at which RBI lends to banks for their short-term borrowing needs. In its June 8 second bi-monthly monetary policy meeting review for FY23, RBI raised the benchmark repo rate by 50 basis points to 4.90 per cent with immediate effect. It followed an off-cycle rate hike of 40 basis points in May to rein in the soaring inflation in the country, mainly triggered by supply side woes due to Russia-Ukraine war. Private sector lender ICICI Bank raised the repo linked External Benchmark Lending Rate (EBLR) with effect from June 8, 2022 to 8.60 per cent from 8.10 per cent ...

Keep recovery agents at bay by working out repayment terms with lender

In extreme situations, file injunction suit against the latter to prevent it from taking coercive steps

Non-food bank credit grew 9.7% in March, personal loans rose 12.4%: RBI

Loans to agriculture and allied activities continued to perform well, registering a growth of 9.9 per cent in the reporting month

2x rise in people opting for personal loans to celebrate festivals: Report

Personal loan origination in value terms doubled to over Rs 1.47 lakh crore in December 2021 quarter as compared to Rs 75,000 crore in 2018, the report by Crif High Mark, a credit bureau, said

Find out why your credit report shows a loan you don't remember taking

Loans can be issued to you both legally and fraudulently. So if there's a suspicious entry in your credit report, get to the bottom of the matter immediately

DMI Finance to provide digital personal loans to Google Pay users

The personal loan programme will disburse up to Rs 1 Lakh per loan, repayable over a maximum of 36 months. The partnership is being launched in over 15,000 pin codes

Balance transfer your personal loan only if interest gap is 0.5-1% or more

The pre-closure penalty usually ranges from 1 to 5 per cent of the principal outstanding amount

HDFC Bank to ICICI, 8 banks recast exposures worth Rs 27,000 cr in OTR 2.0

The country's largest private lender HDFC Bank had the highest share in restructuring at Rs 17,395 crore, followed by another private lender ICICI Bank at Rs 4,156 crore

Forget Squid Game, here are some strategies to get out of debt in real life

The most-expensive-debt first approach is cost-effective, while debt snowball has been found to be the most successful

Industry's share in bank loans at record low of 26%, shows data

Personal loans, including housing, now at 26.7% of bank credit, highest ever