Author: Nisha Chawla

Starting a business requires a great idea, effort, and most importantly, money. Many aspiring entrepreneurs struggle to arrange funds for their business. The good news is that the government provides several loan schemes to help new and small businesses grow. These schemes offer financial support with easy repayment options and low-interest rates. Let’s explore five such government-backed business loan schemes that can help you get started. 1. Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE) Who Can Apply? Small and micro enterprises (MSEs) looking for financial support. Benefits: Loan Amount: Up to Rs 5 crore. How to Apply?…

Owning a car is more than just a convenience—it’s a necessity in today’s fast-paced world. But getting a car loan approved quickly can be a daunting process, especially if your credit score or financial history isn’t in top shape. However, by implementing the right strategies, you can speed up the approval process and be on your way to driving your dream car in no time. Let’s explore the most effective ways to secure a car loan fast. 1. Maintain a Strong Credit Score Your credit score is a significant factor in determining whether you qualify for a car loan. Lenders…

Owning a car is a dream for many, but not everyone can afford to pay the full amount upfront. That’s where car loans come into play, allowing buyers to own a vehicle by paying manageable monthly installments (EMIs). However, getting a car loan approved is not always straightforward—lenders assess multiple factors before approving a loan, and one of the most crucial aspects is your CIBIL score. A good CIBIL score not only increases your chances of loan approval but also helps you secure a lower interest rate, making your EMI more affordable. So, if you’re planning to buy a car…

Buying a home is a dream for many, but home loans often come with a hefty interest cost. The longer the tenure, the more interest you end up paying. However, with the right financial planning, you can cut down your home loan interest significantly and save a lot of money in the long run. Here are seven practical tips to help you reduce the interest on your home loan and make repayment easier. 1. Opt for a Shorter Loan Tenure The tenure of your loan plays a crucial role in the amount of interest you pay. A longer loan tenure…

Buying a home or car is a big financial commitment, and repaying the loan is a major achievement. But many people think their work is over once they make the final loan payment. In reality, there are several important steps you must take after closing your home or car loan to ensure your financial security and avoid future troubles. Ignoring these post-loan formalities can lead to unexpected legal or financial issues. Here’s everything you need to do once your home or car loan is fully repaid. 1. Collect Your Loan Closure Certificate Once you make your last EMI payment, the…

The Reserve Bank of India (RBI) has announced a major relief for home loan borrowers by cutting the repo rate for the first time in five years. The repo rate has been reduced by 0.25% to 6.25%, allowing banks to lower interest rates on loans. This decision will bring down home loan EMIs, benefiting those who have taken loans on a floating interest rate. However, those with fixed-rate loans will not see any changes in their EMIs. With this reduction, banks and housing finance companies are expected to gradually pass on the benefits to borrowers. The lower interest rates will…

For frequent travelers, airport lounges provide a comfortable space to relax before a flight. Many people believe that a credit card is necessary for free lounge access, but several debit cards also offer this benefit. These cards provide entry to airport lounges and additional perks such as cashback, discounts, and reward points. Understanding the features and eligibility of these cards can help travelers choose the best option. Why Choose a Debit Card for Lounge Access? Debit cards with lounge access allow travelers to enjoy premium facilities at the airport without the need for a credit card. These cards offer: With…

Unexpected expenses can arise at any time, whether it’s a medical emergency, home repairs, or an urgent travel plan. In such situations, instant loan apps have become a lifesaver by providing quick access to funds without the hassle of visiting a bank. These digital lending platforms offer personal loans with minimal documentation and instant approval, making financial emergencies easier to manage. Why Instant Loan Apps Are Gaining Popularity Traditional bank loans often involve long approval processes and require extensive paperwork. In contrast, instant loan apps offer a seamless and digital approach, allowing users to borrow money quickly without unnecessary formalities.…

When considering a personal loan, many factors come into play that determine the interest rate a lender might offer. Among these, your job profile stands out as a significant determinant. Lenders assess various aspects of your employment to gauge the risk associated with lending to you. Understanding how your occupation influences loan terms can empower you to secure better deals and manage your finances more effectively. ​ The Role of Employment in Personal Loan Interest Rates Personal loans are typically unsecured, meaning they don’t require collateral. This lack of security elevates the lender’s risk, prompting them to scrutinize the borrower’s…

In India, gold holds a special place not just as a precious metal but also as a valuable financial asset. With gold prices soaring, many individuals are leveraging their gold holdings to secure loans for various financial needs. This guide delves into the intricacies of gold loans, highlighting their advantages, application procedures, interest rates, repayment methods, and crucial factors to consider before opting for one. ​ The Rising Popularity of Gold Loans in India Gold loans have become increasingly popular among Indians seeking quick financing options. The process involves pledging gold ornaments or coins as collateral to obtain funds from…