Personal Loans

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The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, the Reserve Bank said on Wednesday. Both industrial and personal loans had nearly 27 per cent credit share each in March 2022, as per the 'Basic Statistical Return on Credit by Scheduled Commercial Banks (SCBs) in India March 2022' released by the RBI. Meanwhile, loans to the industrial sector recorded 4.7 per cent growth in 2021-22 after witnessing a decline in the previous year. Earlier this month, Finance Minister Nirmala Sitharaman nudged the corporate sector to increase investment in the manufacturing sector. The RBI further said as credit demand from the retail segment has become more distinct in recent years, the portion of small-sized loans is also going up steadily. The share of loans up to Rs one crore has surged to nearly 48 per cent in March 2022 from around 39 per cent five years ago, whereas the share of loans above Rs 10 crore

The firm provides digital-first distribution of personal loans, home loans and health insurance to customers without the need of physical infra

Several borrowers have complained of harassment and blackmailing on loan repayment on the platforms

Understand all the attendant costs of this facility; delayed repayment will hit your credit score

A credit score is among the first things a financial institution would check in order to sanction a loan

Auto, home and personal loans have become costlier with banks and other financial institutions increasing interest rates following the repo rate hike by RBI on Wednesday. A number of banks including ICICI Bank, Bank of Baroda, Punjab National Bank (PNB), Bank of India, Indian Bank, Indian Overseas Bank and the country's leading mortgage lender HDFC Ltd have raised lending rates for their customers. Repo is the rate at which RBI lends to banks for their short-term borrowing needs. In its June 8 second bi-monthly monetary policy meeting review for FY23, RBI raised the benchmark repo rate by 50 basis points to 4.90 per cent with immediate effect. It followed an off-cycle rate hike of 40 basis points in May to rein in the soaring inflation in the country, mainly triggered by supply side woes due to Russia-Ukraine war. Private sector lender ICICI Bank raised the repo linked External Benchmark Lending Rate (EBLR) with effect from June 8, 2022 to 8.60 per cent from 8.10 per cent ...

In extreme situations, file injunction suit against the latter to prevent it from taking coercive steps

Loans to agriculture and allied activities continued to perform well, registering a growth of 9.9 per cent in the reporting month

Personal loan origination in value terms doubled to over Rs 1.47 lakh crore in December 2021 quarter as compared to Rs 75,000 crore in 2018, the report by Crif High Mark, a credit bureau, said

Loans can be issued to you both legally and fraudulently. So if there's a suspicious entry in your credit report, get to the bottom of the matter immediately

The personal loan programme will disburse up to Rs 1 Lakh per loan, repayable over a maximum of 36 months. The partnership is being launched in over 15,000 pin codes

The pre-closure penalty usually ranges from 1 to 5 per cent of the principal outstanding amount

The country's largest private lender HDFC Bank had the highest share in restructuring at Rs 17,395 crore, followed by another private lender ICICI Bank at Rs 4,156 crore

The most-expensive-debt first approach is cost-effective, while debt snowball has been found to be the most successful

Personal loans, including housing, now at 26.7% of bank credit, highest ever

Small ticket personal loans segment has witnessed a huge surge in asset quality stress for lenders in the pandemic-affected FY21, with NBFCs taking the maximum brunt

Completes acquisition; pays Rs 34,250 cr to creditors

Non-food bank credit growth stood at 5.9 per cent in June compared to 6 per cent in the year-ago period, according to RBI data released on Friday.

No amount blocked on advance booking but such borrowing is reckless