Personal loans are gaining popularity across India for their easy availability and flexibility. Due to the same many borrowers question and wonder if their spouse’s security or co-signature is necessary for loan approvals. The answer to this question largely depends on several different factors such as, the lender’s policies, the loan applicant’s profile and the
A personal loan can help you meet various objectives. On one hand, it can help you overcome any medical or other emergency. On the other hand, it can help you celebrate occasions like family functions and festivals, or enjoy a much-deserved family vacation. It can also help you buy gadgets, consumer durables, etc., that provide
Personal loans are a convenient way to borrow to cover a variety of expenses — like a wedding, a funeral, a vacation, a surprise medical bill and more. Lenders typically disburse funds directly to your bank account so you can start using that money as soon as possible, and some of them will even fund
KUALA LUMPUR: A total of 5,272 youths below age 34 have been declared bankrupt from 2020 to this year, Youth and Sports Minister Hannah Yeoh says. She said that of the total, 5,189 were between 25 and 34, while 83 others were below age 25. “The trend of bankruptcy among youths shows an increase, with
If you are planning to raise a personal loan, remember that there are certain reasons for which it is not unreasonable to take a loan. For instance, when there is an emergency at home or a wedding. Additionally, there are some people who do not refrain from taking a loan for going on a vacation as
A HIGH street bank with three million customers has issued a major update for anyone with a loan. Metro Bank has agreed the sale of its £584million portfolio of personal loans. 1 The bank has ceased offering unsecured personal loans to new customers back in 2023Credit: Rex The high street bank said the sale of the unsecured
If you want to apply for a personal loan but don’t know where to start from, this ultimate guide will help you understand everything you need to know. What is a Personal Loan? A personal loan is a type of loan that does not require you to provide collateral, such as property or gold. You
The banking sector is facing some challenges as unsecured personal loans, digital transformation, and shifting customer ownership models disrupt traditional frameworks. Company Value Change %Change Unsecured loans digital risks RBI bank officials flag challenges Regulatory oversight, declining CASA ratios, and third-party dependencies are putting pressure on banks to rethink their strategies. RBI Deputy Governor M
The share of retail bad loans with Asset Reconstruction Companies (ARCs) has risen at a faster pace than corporate non-performing loans (NPAs), driven by increasing stress in unsecured and microfinance loans. Retail NPAs of ARCs have grown by nearly 10% to Rs 44,060 crore in the first nine months of the current financial year, while
Nithin Kamath, the founder and CEO of Zerodha, has raised alarm over India’s growing borrowing habits, particularly in the segment of small-ticket personal loans and credit card borrowings. According to Kamath, aggressive marketing strategies by fintech apps have fueled this trend, with an increasing number of individuals taking loans they cannot afford. Kamath highlighted a