Author: Nisha Chawla

Education loans are a lifeline for students aiming to pursue higher studies but face financial challenges. Whether it’s a professional course, an advanced degree, or studying abroad, education loans can help cover tuition, accommodation, and other costs. Here’s a detailed guide on applying for an education loan, including eligibility, documents required, and its benefits. What is an Education Loan? An education loan is financial aid provided by banks and financial institutions to help students cover the cost of their education. These loans cover expenses like tuition fees, hostel charges, travel, and additional costs related to academics. Students can repay the…

Taking a loan often involves a lot of paperwork and formalities, but did you know you can get a loan of up to ₹50,000 using just your Aadhaar card? This is possible through the Pradhan Mantri Swanidhi Yojana, a scheme designed to support small traders and street vendors. If you’re a small business owner or struggling financially, this government initiative can provide quick and hassle-free financial assistance. What Is the Pradhan Mantri Swanidhi Yojana? Launched in 2020 during the COVID-19 pandemic, the Pradhan Mantri Swanidhi Yojana aims to support small businesses and street vendors. The scheme provides collateral-free loans to…

The cost of higher education has skyrocketed in recent years. From entrance exam coaching to college tuition fees and living expenses, the financial burden on parents has increased significantly. For professional courses, the expenses can range from Rs 10 to 30 lakh. For students planning to study abroad, these costs escalate further. In such scenarios, education loans become essential. These loans enable students to focus on their studies while deferring the financial stress until after they secure employment. Here, we’ll explore the various types of education loans, their benefits, and the application process. Benefits and Features of Education Loans Education…

Owning a car is a dream for many, offering convenience, freedom, and comfort. But with rising car prices, taking a car loan has become the go-to solution for most buyers. However, one crucial factor that determines your eligibility for a car loan is your CIBIL score. A good credit score not only increases your chances of approval but also ensures better loan terms. Let’s dive into the details of what CIBIL score is needed for a car loan and how you can enhance your eligibility. What Is a CIBIL Score, and Why Does It Matter? A CIBIL score is a…

Personal loans are a convenient way to access quick funds, especially when unexpected expenses arise. Thanks to advancements in fintech, getting a loan has become as easy as a few clicks on your smartphone. However, while the ease of obtaining loans is tempting, using personal loans for small or unnecessary expenses can have serious financial consequences. Experts warn that this habit can lead to financial stress, higher debt burdens, and other long-term drawbacks. Here’s why you should think twice before taking a personal loan for minor needs. What Makes Personal Loans Easy to Get? While these features make personal loans…

For those dreaming of starting their own business, lack of funds can often be a major hurdle. Personal loans offer a viable option to bridge the financial gap, especially when time is of the essence. While personal loans are convenient, they come with their own set of considerations that need to be carefully evaluated. If you are thinking of taking a personal loan to fund your entrepreneurial journey, here are some crucial points you must keep in mind. 1. Why Consider a Personal Loan for Business? Personal loans are often more accessible than traditional business loans, making them an appealing…

Owning a car is a dream come true for many, but it often comes with the responsibility of timely loan repayments. With easy financing options, buying a vehicle has become accessible to millions, but missed EMIs can lead to serious consequences, including the lender confiscating your car. If you’re worried about missing your installment, don’t panic. There are ways to manage this situation and keep your vehicle. Why Do People Miss EMIs? Unexpected events such as medical emergencies, job loss, or unforeseen financial burdens can disrupt your monthly budget. This may lead to skipped loan payments. When EMIs are missed…

A sudden financial need often pushes people to apply for personal loans. Banks and NBFCs (Non-Banking Financial Companies) generally process loan applications quickly, especially for salaried individuals or government employees. However, your credit score plays a significant role in loan approval. A poor credit score can limit your chances of getting a loan, as lenders prefer borrowers with strong financial credibility. What Is a Credit Score, and Why Is It Important? A credit score is a three-digit number assigned by credit rating agencies based on an individual’s financial behavior. This score typically ranges between 300 and 900: A credit score…

Starting your career is an exciting milestone but it comes with financial responsibilities. Managing money effectively from the start ensures stability and a brighter future. Here are five key steps every young professional should take to manage their money smartly and achieve long-term financial goals. 1. Prioritize Financial Literacy to Make Informed Choices Financial literacy is the foundation of effective money management. Without understanding basic financial concepts, it’s easy to make costly mistakes. Young earners should invest time in learning about: Resources like personal finance books, podcasts, and online courses can be valuable tools to build financial knowledge. Apps and…

Applying for a home loan can be a detailed and time-consuming process. Lenders thoroughly evaluate your application before approval to ensure you can repay the borrowed amount. This scrutiny is particularly stringent since home loans involve large sums and extended repayment periods. Banks assess several factors, including income, profession, credit history, and age. Knowing these criteria can help you prepare and improve your chances of approval. How Profession Influences Loan Approval Your profession and job stability play a significant role in determining your home loan eligibility. Banks generally prefer applicants with a consistent work history and stable income. Income Stability…