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Rahul had taken a personal loan two years ago to fund a family emergency. He paid his EMIs diligently for 18 months. Then came an unexpected job loss. Struggling to keep up, he called his lender and asked: “Can I just settle the loan?” The lender said yes - for a reduced amount. Rahul thought he had dodged a bullet.

Your loan may have worked well when you took it, but your finances may have changed. A better rate, stronger credit profile, or a difficult EMI may make you look for a new option. Refinancing can replace your existing loan with terms that better fit your needs. This guide explains how it works, when it helps, and how to check savings.

Aman thought he needed money just once but his expenses kept coming in parts. First, there were medical bills, then costs for his freelance work, and later, gaps in his business cash flow. He took a personal loan, but the fixed amount didn’t really help it was either too much or not enough. Aman felt stuck managing it. Then he found a personal line of credit, which let him take money only when he needed it, making things much easier.

Both personal loan and salary advance loan are helpful for money shortage. Yet their jobs are quite different.

Salary day comes. The EMI auto-debit runs. The account does not have enough. What follows is not just a failed transaction. Personal loan EMI bounce charges kick in, sometimes penal interest too, and the credit score takes a note of what happened. This blog explains what these charges are, what triggers them, how much they typically cost, and what to do if an EMI does not go through.

Many people assume that filing an Income Tax Return (ITR) is mandatory to apply for a personal loan. While several lenders may request an ITR as part of their documentation process, some may offer a loan without ITR to eligible applicants by assessing alternative proof of income and repayment capacity.

A personal loan is one of the most commonly used ways of borrowing money for any type of cost, be it anticipated or unexpected. Be it a medical emergency, wedding, traveling, household renovation, school tuition, consolidating debts, or other expenses, an unsecured personal loan can help borrowers whenever they need.

There's no fixed minimum CIBIL score for a personal loan in India, whatever the ads might have you believe. Most lenders want to see 725 or above. But that's only part of the story, before anyone actually decides anything, they're reading your income, your job stability and the EMIs you're already paying.

Mr. Anand Sachdeva just received his year-end bonus from his company. Instead of utilising the entire money, he wanted to clear a certain amount of his personal loan.