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Showing posts with the label Interest rate

Difference between Write off and Waiver of Loans

  Loan write-off and Loan waivers are two tools for dealing with bad loans. Many people are unaware of the differences between these financial terms. Though both loan write-offs and waivers seem similar, there are fundamental differences between them. Take the case of an example. Your friend borrows Rs.1 lakh from you while moving away from town to another location, promising to repay you within a month. You wait for a few months and still get no reply from him.   Thus, you have no way of getting your money back unless he returns to your city, which is far-fetched and next to an impossible event. So, what you do is write off the loan while still hoping to regain the money after some time. Suppose after a few months, the same friend returns to your city and contacts you. He may apprise you of his poor financial condition and express his inability to repay the loan. He may beg you to forgive him in his dismal condition. Now, you have the chance to waive off the loan. So, you will deliber

How to Choose the Right Personal Loan

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A lot has been said and written about personal loans which is not at all surprising considering how popular this product is. The versatility of personal loans combined with easy availability and quick disbursement makes this one of the most availed financial products in the market today. But how to choose the right personal loan? Applicants today are bombarded with personal loans with different features and benefits and this can result in confusion. Which personal loan should you choose? What factors should be considered before choosing the right loan? In order to provide more clarity and help you choose the right personal loan, we have curated 5 tips to help you select the right personal loan for you. Take a look below. 5 Tips to Select the Best Personal Loan While there are multiple personal loans available in the market today, not every option will be right for you. Therefore, firstly you need to keep in mind the purpose of availing the loan . Are you looking for emergency financia