Category: Personal Loan

Personal loans are there to fulfil personal needs – not just any needs but financial needs which keep arising from time to time. The concept of personal loans in India was never given much importance before because of the rates of interest used to be so high that people could hardly afford to take them. As things have changed now and banks have lowered their interest rates to suit the public’s interest, more and more people make use of personal loans to fulfil all their financial requirements.

Personal loans – what are they used for?

Personal loans are used for different reasons. This depends entirely on the wants and needs of the person who is borrowing the money. Some people put it to some kind of productive use while others just use it to pay off previous dues or to celebrate lavish festivals. Aspiring business persons are usually the only ones who make use of personal loans for productive purposes. This basically means that they use if for a purposes which helps them to eventually earn it back along with something in return.

Even people who take personal loans to purchase consumer durable goods aren’t actually using the money for unproductive purposes. This is so because they invest in goods which bring them some degree of satisfaction. When it comes to utilizing the money for festivals and marriages, it comes under the category of unproductive use of funds. Besides these, there are many other purposes for which personal loans are used; all of which the bank is not really concerned about. What matters to the bank is whether the borrower is in a financial state to pay back the loan or not.

Personal loans – How can you apply for a personal loan?

Applying for a personal loan is quite easy. The best thing to do would be to first make sure of the loan schemes offered by your bank and also find out the terms and conditions which need to be adhered to in order to be eligible for the loan. This can be done in two ways: either personally or online. The personal approach of visiting a bank and finding out about the various deals available on personal loans is now in the background. Now, people prefer to do mostly everything online. Since banks have realised this too, they make things easier for the customers by providing details regarding their services through the internet.

Another way, in which you can look into the various options and deals currently available from a particular bank or financial institution, is by conveniently checking online for detailed information. Once you are sure of what you want you can apply for the personal loan directly to the bank. This will be much easier once you know the entire procedure and documents required (from the information you seek online).

Loan is taken by an individual to help him meet any financial need or during any emergency situation. If you need a personal Loan in Singapore, you should know that there are many money lending institutions in Singapore which cater to the needs of individuals and give them money at good rates and have good repayment schemes for the individuals. This flexible repayment schemes and the great service offered by many institutions make them immensely popular among the people of Singapore.

The money lenders give various kinds of loans to individuals. Personal loans, home loans, fast cash, service loans, foreigner loan are some of the broad categories of loans that is been offered to the customers in Singapore applying for a loan.

Personal loan in Singapore has one of the best rates that can be offered to an individual for taking a loan from a money lending institution. The services offered by the money lending institutions is of the top quality and people can rely on them. The personnel are trained and efficient helping people to apply for the correct kind of loan suiting their needs and requirements. They guide them and analyze their financial situation beforehand. This helps individuals to apply for the correct kind of loan. For applying for personal loans, one will have to fill an online application form of a money lending organization. After the investigation has been made about the individual, the loan is been sanctioned. When the loan has been sanctioned, individuals have to full up documents and papers for furthering the loan process and for helping the money lending organization to speed up the work.

Apart from the personal loan in Singapore, another loan which is becoming important in recent times is the foreigner loan. Getting these kinds of loans in Singapore requires certain documents which have to be presented at the office of the money lending institution for applying for the loan. An individual may be working in Singapore or may be a traveler and may suddenly require money. For taking the foreigner loan, one will have to show his passport, visa for the traveler and the employed individual will have to show his employment pass. The age limit for applying for this loan is twenty one years. After the documents are submitted, they are verified and then the loan is passed by the money lending institution.

For the foreigner loans, no processing fee is charged from the person applying for this loan. The loan can be given back to the organization in small and easy installments. The companies have customer service employees who help individuals by giving information and resolving their queries.

Therefore loans can be taken in Singapore at easy rates and the repayment procedure is simple so as to aid individuals in giving back the money easily and quickly.

Features: Personal loan can be taken for renovating house, celebrate wedding, planning an outing etc. 1.Loan available up to Rs 15 lakh. 2.Loan repayment period varies up to 60 months 3.Hassle free loan without guarantors, security or hypothecation. 4.Personalized services are provided to all the customers. 5.For existing customers with a clear repayment in 12 months

Eligibility: Personal Loan is currently available for salaried individuals and self-employed professionals & existing customers who have Suvidha premium account or a home loan can avail of Citibank Personal Loan. Charges: Booking Fee (Processing Charges): Up to 2.5% of the loan amount sanctioned, this fees is deducted from loan amount at the time of disbursal. Cheque/ECS bounce charges: Rs 250 per bounce. Late payment charges: All the EMIs have to be paid on 1st of every month if delay in payment an additional interest of 2% p.a. is charged on outstanding balance of loan. Loan pre closure charges: Prepayment of loan is not allowed within 6 months from disbursal of loan. No partial prepayment is allowed, pre-closure charges are levied at the rate of 3% on total principal outstanding. Statement Copy: Rs 500. Interest Rate: interest rate on the loan will be the rate applicable at the time of signing the loan agreement currently it is 15% to 20% p.a. For apply loan visit

Personal loans are making lives of people easy in UK by serving them by providing money whenever they are in dire need. Many lenders and loan lending companies in UK are providing people with Unsecured Personal loan UK. These loans are preferred by a large mass people because it does not contain any procedure of pledging the property. The most important thing to grab these loans is to be a citizen of UK. Along with this, people must possess salary slip of at least three months to verify that they have been working for last three months and are capable to repay the borrowed amount in time.

Anybody can easily avail the benefits of Unsecured Personal Loans UK by applying online for these loans which is absolutely simple and easy. Many lenders and loan lending companies provide online application form to be filled by the borrowers with their name, address, phone number and a valid saving account number. After approval of the loan, the amount is transferred into the saving account of the borrower by the lender. Though Unsecured Personal Loans UK do not compel borrower to pledge any collateral but do not be carefree about repayment of the amount because in the case of non repayment of money, lender has authority to take the borrower to the court.

A borrower can avail amount up to $50,000 through Unsecured Personal Loans UK. Borrower gets the duration of 5 to 10 years for the repayment of these loans. If borrower wants to extend this period then this is possible but he or she is charged with penalty. The interest rate offered by lenders for these loans is different but if borrower shop around then he or she can find desirable interest rate for Unsecured Personal Loans UK. If you also desire for money and you are fit for Unsecured Personal Loans UK then apply online today.

You are looking for personal loans and what is the first question
you face “how is your credit?” Alright it is bad. Personal loans for
bad credit are an option but you feel like they are hard to find. There
is good news for you. Personal loans for bad credit are getting
approved. See how many lenders are offering personal loans for bad
credit. Personal loans for bad credit are not only resolving your money
problems but giving you an opportunity for restoring credit.

If
you have fallen into the bad credit gap, there are possibilities that
personal loans lender will understand your situation. There are good
possibilities that they will have personal loans complimenting your
situation. The things inseparable from personal loans with bad credit is
higher interest rates or additional security (down payment). One of
them will be attached to bad credit personal loans offered to you.
Interest rates for personal loans for bad credit are usually dependent
on credit score, presence of collateral, personal income, loan amount.

Personal loans for bad credit
that are secured are generally easier to arrange. In fact bad credit
personal loans that are likely to have lower interest rates, even lower
than some unsecured debts. Interest rates for secured bad credit
personal loans can be higher than standard mortgages but may not be the
case always. If the amount of property, you are providing as collateral
considerably exceeds the loan amount, the interest rates offered can be
less.

Unsecured personal loans for bad credit will carry a little
more in the form of interest rate than secured personal loans. The
amount usually varies from �500-�25,000. The repayment usually spread
from 6-10 years. The repayment term usually depends on the purpose of
loan. Bad credit Personal loans will for holiday and car purchase will
be for shorter loan term. With secured bad credit personal loans, you
can borrow from �5,000-�75,000 with a repayment term of 5-25 years. With
secured bad credit personal loans, you can borrow up to 125% of the
property value.

Your personal circumstances have to be clearly
presented in order to find personal loan for bad credit. Usually loan
lenders rely on credit scoring to find out about bad credit. Therefore,
knowing your credit score is essential. The better your score is the
better rates you get for bad credit personal loans. Even two points
lesser from your previous score can save thousands in terms of money.
Legally, you have a right to get any false information corrected. Fair
credit reporting act allows you to get any false bad credit information
corrected.

Credit score is used to detect bad credit. Here is a
general description of how credit scores are read. The criteria may vary
from lender to lender.

Credit grade A+ to A- credit score of 660
to 670 or above. This means excellent credit. No credit problems from 2
to 5 years and no bankruptcy for the last 2-10years.

Credit grade B+ to B- credit score of 620 with no sixty day mortgage lates and 24-48 months since bankruptcy discharge.

Credit
grade C+ to C- credit score of 580 with late payments, any late payment
within 30-90 day range. This will include 12-24 months since bankruptcy
discharge.

Credit grade D+ to D- credit score of 550 with Lots of missed payments and 12 months since bankruptcy discharge.

Credit
grade E credit score of 520 or lower. This score is for a possible
current bankrupt with poor payment record of many 30, 60 or 90 days
late.

500-550 is bad credit. When a loan application is received,
it is the standard practice of the lender or credit providers to check
credit. They can very easily verify credit information and see if you
have bad credit. So providing false information is absolutely
prohibited. Being consistent with bad credit personal loans will
contribute in recovering credit.

If you are apprehensive that bad credit personal loans won't be
possibly. That is not true. If you think bad credit can only get loans,
then perhaps you are unaware. Personal loans for bad credit have a new
role; they are now responsibly improving credit.