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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

Short-term Loans vs. Long-term Loans: Make A Right Decision

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  Maintaining a good cash flow may be difficult between invoices, recurring costs, and personnel. The bottom line is that a poor cash flow may have a significant impact on your clients. The distinction between short-term loans and long-term loans should be kept in mind while establishing a cash flow plan. There are several sources of accessible finance, each of which is important under different circumstances. Making strong cash flow requires combining money with the correct sources. It's critical first to assess your requirements and then match financing choices to those demands. The amount of money you borrow in a loan and the interest rate are determined by the length of time you want to borrow it. The benefits of long-term and short-term finance may be judged in terms of how well they adapt to varied needs. Below is the enumeration of some of the important differences between short-term loans and long-term loans. The total amount of the loan:  Short-term loans are often used

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

Instant Loan: 10 Advantages of Personal Loans

Personal loans are without doubt one of the most popular financial products in the market today. Versatile, easy to avail, and collateral-free, personal loans are loaded with a plethora of benefits and features. Curious to know more? We have curated the top 10 advantages of personal loans for you. Read on to know more about this. 10 Benefits of Personal Loans Versatility The general guideline is that if you need financial assistance for home construction or renovation, you will generally opt for a home loan and similarly for auto loans to buy a vehicle. But what if there was one loan that could provide the benefits of many? That’s right, personal loans are extremely versatile. Unlike home loans, auto loans, or education loans, personal loans do not have to be used for a specific purpose. From medical emergencies to home renovations to car purchase to even funding a vacation, personal loans can be used for almost everything. No Collateral Most types of loans require security or coll