We know that insurers provide loans against insurance policies. Therefore, if you have a traditional insurance policy and need short term funds, you can approach your insurance company to offer you a loan. The maximum loan amount is 80-90% of the prevailing policy surrender value. If you can’t repay the loan, the insurance company can… Continue Reading
Even when you plan to purchase a house through a loan, you still must make the down-payment from your own pocket. Your home loan wouldn’t fund the complete purchase amount. You must fund some percentage of the purchase from own pocket. What if you didn’t plan well and you do not have funds to make… Continue Reading
You wouldn’t want to find yourself in a situation where you are struggling with debt. As discussed in many of our earlier posts, there are only 4 ways to get out of debt problems. Increase income Reduce expenses Reduce debt Reduce the cost of debt Or a Mix of all the above approaches In this… Continue Reading
Recently, I read an excellent article from Uma Shashikant about the signs of a person battling with debt. Remember, the person who is in debt trap or nearing one may not tell you if that’s the case. However, if you see such signs and realize that your friend or family member is struggling with debt,… Continue Reading
In an earlier post, we discussed a loan product for professionals from HDFC Bank. The HDFC bank loan can be used by Doctors, Chartered Accountants, Architects and Company Secretaries and other professionals. In this post, we will discuss a suite of products that is exclusively earmarked for doctors. Bajaj Finserv has 4 loan products for doctors.… Continue Reading
Recently, I got a promotional email from a bank to convert credit card outstanding to EMIs. The EMI amount will be added to the credit card statement every month. I have discussed such deal structures in much greater detail in an earlier post. However, there have been a few interesting developments in the payments space that such… Continue Reading
Many Indian banks offers loans to NRIs (Non-resident Indians). However, since the rate of interest for loans is higher in India as compared to personal loans abroad, it is tempting to take a personal loan abroad instead of taking a loan in India. In fact, I know borrowers who have taken a personal loan abroad to… Continue Reading
We have discussed several ways of raising funds in times of need. We have talked about many other ways of raising quick funds such salary loans, personal loans, gold loans, loan against securities or mutual funds. In this post, let’s look at another way of raising funds in times of need — Loan Against Car. I am not… Continue Reading
It is not very difficult to get a personal loan if you are a salaried employee. Not so easy for others. There are professionals who started their practice a few years back and need a loan to expand their practice, redo their office or anything else. For such professionals, there are specific loan products to… Continue Reading
In this post, we will discuss a personal loan product from State Bank of India, SBI Xpress Power loan (formerly known as SBI Xpress Bandhan). By the way, this is not the first time I am writing about a personal loan product from SBI stable. In my earlier posts, I have discussed two personal loan… Continue Reading