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Finance Forum India

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Personal loan v/s credit card: What are Indians using?

Rohit Mistry, 34, decided to renovate a portion of his house and change all the furniture. The entire project would cost him a few lakhs. He immediately applied for a personal loan of Rs 8 lakh. Within no time, his home was as good as new. Rohit preferred a personal loan over a credit card for a few reasons. These included the quick disbursement, easy availability, and flexible EMI options. Let us explore why you should choose a personal loan over a credit card: 1)    Interest rate: This is a significant factor. Unlike in a credit card, the rate of interest...
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Are you ready to take a home loan?

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Do's and Don'ts while applying for a home loan

 There are a few do’s and don'ts while opting to avail a loan to own that dream home for life that one can think of. We’re penning down some of the important factors that make for the decision while going for the home loan. Do’s: ·         Since most of the information is available online these days, it is good to do a thorough research and apply online.   ·         Stay put at the job you’re at, and don’t move interim the process.   ·         Continue to use the same insurance company.   ·         Ensure all your existing bank accounts are functional...
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A history of the practice of loans and interest

Normal 0 false false false EN-IN X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-IN;}   The practice of lending has been in existence since time immemorial, though the exact origin of loans remains cloudy. What is known though is that in earlier times, loans were in the form of barter. Over 5,000 years ago, precious stones and grains would be stored and traded in the Mesopotamian civilization, mainly temples. This is how the raw concept of banks...
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Planning to finance a Used Car? Here is how to assess your financial profile like lenders do

When you apply for a loan, lenders carry out an assessment of the loan application. Once the assessment is complete and it is found that you are suitable enough to be lent, only then is your loan approved and you get the money. But how do you know whether your application will be approved or rejected? There is no perfect answer to this question. But if you know the factors that lenders consider while evaluating your loan application, you will have a fair idea of the outcome. Isn’t it? So here is a small guide to help you self-assess whether your...
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Looking to buy Luxury Car on Budget? It’s easily possible!

You always wanted to buy that Mercedes or BMW that your boss drives. But you don’t have enough money to do that. At best, you can spend Rs 15-18 lac on cars and unfortunately, these luxury cars starts from Rs 25 lac onwards. Don’t be disheartened. Rs 15-18 lacs is not a small amount. Infact, it’s possible to purchase your luxury dream car in that budget. Surprised? Don’t be. It’s not only the small cars that come in the used car market. Even luxury cars are bought and sold in this market. And this is heaven for people like you who...
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How Salman's personal loan helped him become an FMSCI-licensed trainer

At times, you need luck to give wings to your dreams. At other times, you just need to be creative and innovative. This is exactly what happened with Salman, an avid biking enthusiast. It was his dream to be a trainer licensed by the Federation of Motor Sports Clubs of India (FMSCI). But the course and the certification were expensive. This is where his creativity, and a personal loan, helped him earn the success he deserved. Taking a personal loan The personal loan Salman was eligible for, sadly, was not enough to fund his dreams. But he did not give up....
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Term Insurance: A Must Have in Your Financial Plan

These days life is full of anxieties causing physical and mental stress. According to research, one person dies in a road accident every four minutes. Chronic diseases, such as respiratory disorders, cancer, and heart ailments comprise 60% of annual deaths in the country. The increase in unhealthy, stressful, and sedentary lifestyle results in higher risks of chronic diseases. The well-being and financial security of your family may be one of your most important objectives. A well-thought out financial plan is crucial to safeguard you and your family in case of any unfortunate incident. If you haven’t already started planning your finances,...
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Why Wait for the Price to Fall? Get Your New Google Pixel on EMI

The search engine giant Google extended its reach in the high-end smartphone market with the launch of its latest model Pixel last month. It is available in two sizes; one, Pixel with a 5-inch screen and the second, Pixel XL with a 5.5-inch screen.   Image Source: http://www.indiantribune.com Both the models of the Pixel come with a 12.3 MP high definition camera. The latest Android 7.1 Nougat version offers the users an amazing experience. These smartphones have a 4 GB Random Access Memory (RAM) with 32 GB and 128 GB memory. Additional features include the Google Assistant, Snapdragon 821, Daydream View...
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Looking to Plan a Family Vacation? A Personal Loan is Your Answer to Instant Cash without the Wait

Whether you want to de-stress from your hectic work schedule, create unforgettable memories, or enjoy some adventure, taking a family vacation is your best option. However, traveling requires enough time and money. You no longer have to worry about arranging outright cash. A personal loan to take your family vacation is the solution. The entire procedure is quick and simple. Furthermore, you do not need any guarantor or collateral to avail of this type of loan. Here are five features of a personal loan that most of the lenders provide. 1.   Flexible loan tenure from 12 months up to 60 months...
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