Here are some tips and tricks to facilitate the same smoothly:
Opting for Secured loans:Secured loans are the credits that are availed against some asset of fair market value. This can be secured against multiple assets like property, jewellery, paper investment, shares, home equity etc. The lender takes possession of the asset till the loan is repaid completely.
Gold loans:Gold is instant help when it comes to securing loans. As it is considered a secured loan, pledging gold as collateral against the loan is possible.
Co-applicant or loan grantor:A co-applicant is instant help when one is new to credit and is unable to meet the bank stated eligibility criteria. Taking a joint loan, with your husband as co-applicant is possible, and is dependent on his income. By virtue of this, the co-applicant becomes equally responsible for repaying the EMI regularly.
There are also cases, where you can instead opt for a loan grantor, who is basically an individual agreeing to pay off the loan, if the prime borrower defaults on it. Having a loan grantor with a glowing credit history and credit score can improve your chances of getting a loan.
It is also important to note that in the event you faulter of repayment, it has a direct impact on the credit score of the grantor also.
A personal loan can be an easy enabler for realizing one’s dream of owning a business. Once the business picks up, one can easily move onto availing business loans for the larger growth.
Click here to apply for a Personal Loan.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
Disadvantages of Early Retirement - What Happens When You're Not Working?
Early retirement seems to be good, many people enjoy life without working especially with extra earnings. But they are not aware about the cons. Lets explore the disadvantages of retiring early to save your retirement life.
5 Benefits of Health Insurance that Makes it a Must Have Cover
Here are the 5 benefits of health insurance that makes it a must to cover
When Should You Withdraw Money from a Mutual Fund?
In case of a sudden change in fund strategy or an underperformance scheme for more than 3-4 years, it makes sense to withdraw money.
How To Apply For Personal Loan
Applying for a personal loan has become extremely easy these days. With the increase in applicants, banks and other financial institutions have made the process very simple.