Page 2 - Personal Loan

RBI issues norms for late fee payment of EMI for personal loan borrowers

The Reserve Bank on Friday asked banks to provide fixed interest rate option to individual borrowers and directed the lenders to levy only reasonable penalty charges in case of default in EMI payments. The two decisions are expected to provide a relief to the borrowers amid rising interest rates and most of the retail loans being on floating rates now. In a directive to banks and NBFCs, including housing finance companies, the Reserve Bank of India (RBI) said that several consumer grievances have been received in relation to elongation of loan tenor or increase in EMI amount with regard to EMI-based floating rate personal loans, without proper communication or consent of the borrowers. Interest rates have risen since May last year as the central bank hiked the repo rate to tame high inflation. As a result of 250 basis points increase in the repo rate from May 2022 till February this year, a large number of borrowers are facing negative amortisation, wherein the Equated Monthly ...

Unable to get a loan? Build a proper credit history with secured card

First-time borrowers should start a fixed deposit and get a credit card against it

Goldman Sachs offloads $1 bn of personal loans from Marcus to Varde

Goldman last year stopped personal loans under the Marcus brand and decided to wind down the $4.5 billion loan portfolio

Carl Icahn gets breathing room from lenders after Hindenburg attack

A principal repayment of $500 million is now due on or before September 1, according to a filing

A snapshot of personal loan rates offered by various banks with details

Here is how the personal loan rates offered by various banks stack up

Google took action against 3,500 personal loan apps in 2022 in India

Globally, Google prevented 1.43 million policy-violating apps from being published on Google Play

A snapshot of personal loan rates offered by various banks with details

Here is how the personal loan rates offered by various banks stack up

A snapshot of personal loan rates offered by various banks with details

Here is how the personal loan rates offered by various banks stack up

SBI personal banking loan book up Rs-5 trn mark, helped by digital push

Next Rs one trillion of non-home retail loans by Q3FY24

Top 5 Reasons Why You Should Let Personal Loans Handle Those Big Purchases

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What is the eligibility to get the 5 Lakh Personal Loan Online?

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Best Bad Credit Loans Guaranteed Approval With No Credit Check

The Best Personal Loans for Bad Credit in 2022

A snapshot of personal loan rates offered by various banks with details

Here is how the personal loan rates offered by various banks stack up

Personal retail loan disbursements rise 42% at end-March 2022: Study

Personal retail loan disbursements recorded an impressive growth of 42 per cent from March 2021 to March 2022, reflecting an improvement in overall economic and business sentiment, said a joint study by Equifax and Andromeda. The number of active personal loans increased from 3.5 crore as of March 2020 to 4 crore by March 2021, and to 6 crore by March 2022, it added. The book size of personal loans rose from Rs 5 lakh crore as of March 2020 to Rs 6 lakh crore as of March 2021 and further to Rs 8 lakh crore as of March 2022. "This is a strong indicator of the revival in consumption in the country," said K M Nanaiah, Managing Director, Equifax Credit Information Services Pvt Ltd and Country Leader, India & MEA, Equifax. The total portfolio outstanding of retail industry increased from Rs 71 lakh crore (March 2020) to Rs 80 lakh crore (March 2021), and further to Rs 89 lakh crore as of March 2022. Private banks experienced the highest growth of portfolio outstanding with a 32 per ..

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

A snapshot of personal loan rates offered by various banks with details

Here is how the personal home loan rates offered by various banks stack up

A snapshot of personal loan rates offered by various banks with details

Here is how the personal home loan rates offered by various banks stack up

Things to consider while applying for personal loan

Dos and don'ts to keep in mind while applying for a personal loan

A snapshot of personal loan rates offered by various banks with details

Here's how the personal loan rates offered by various banks stack up

A snapshot of personal loan rates offered by various firms with details

Here is how the personal loan interest rates offered by various bank stack up