Page 5 - Personal Loans
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 ...
 "Auto, home and personal loans become expensive with banks raising rates")
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
 "Keep recovery agents at bay by working out repayment terms with lender")
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
 "Non-food bank credit grew 9.7% in March, personal loans rose 12.4%: RBI")
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
 "2x rise in people opting for personal loans to celebrate festivals: Report")
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
 "Find out why your credit report shows a loan you don't remember taking")
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
 "DMI Finance to provide digital personal loans to Google Pay users")
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
 "Balance transfer your personal loan only if interest gap is 0.5-1% or more")
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
 "HDFC Bank to ICICI, 8 banks recast exposures worth Rs 27,000 cr in OTR 2.0")
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
 "Forget Squid Game, here are some strategies to get out of debt in real life")
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
 "Industry's share in bank loans at record low of 26%, shows data")
Small ticket personal loans delinquencies shoot up in FY21, NBFCs most hit
Small ticket personal loans segment has witnessed a huge surge in asset quality stress for lenders in the pandemic-affected FY21, with NBFCs taking the maximum brunt
 "Small ticket personal loans delinquencies shoot up in FY21, NBFCs most hit")
DHFL acquisition to see Piramal Enterprises sharpen its retail focus
Completes acquisition; pays Rs 34,250 cr to creditors
 "DHFL acquisition to see Piramal Enterprises sharpen its retail focus")
Personal loans register accelerated growth of 11.9% in June 2021: RBI
Non-food bank credit growth stood at 5.9 per cent in June compared to 6 per cent in the year-ago period, according to RBI data released on Friday.
 "Personal loans register accelerated growth of 11.9% in June 2021: RBI")
Holiday first, pay later: Offer suited only to travellers with deep pockets
No amount blocked on advance booking but such borrowing is reckless
Personal loan growth boosted credit outflow in April: HDFC Securities
Growth in agricultural credit continued to accelerate
 "Personal loan growth boosted credit outflow in April: HDFC Securities")
Credit to MSMEs, agriculture rises; personal loans register 12.6% growth
Credit growth to agriculture and allied activities accelerated 11.3%, compared with 4.7% the previous year
 "Credit to MSMEs, agriculture rises; personal loans register 12.6% growth")
Not getting personal loan to manage an emergency? Offer collateral
Starting a fixed deposit may make a bank more willing to offer you a credit card
Cash-strapped patients with Covid-19 infection can consider loans
In a health emergency, speed of disbursement is more important than cost
 "Why should you avail personal loan from Finserv MARKETS?")
Planning to take a gold loan? Put up extra collateral if demanded by lender
If LTV ratio on your loan exceeds the regulatory cap, lender can sell pledged gold to recover dues
 "Planning to take a gold loan? Put up extra collateral if demanded by lender")