Interest Rate

A personal loan is an unsecured loan that doesn’t require any kind of collateral submission. But what makes borrowers think twice about a personal loan is the added interest rate charged on the principal loan amount. The rate of interest on a 1 lakh personal loan via the SimplyCash app is 2.08% per month.

 SimplyCash, an instant cash loan app launched by HeroFinCorp, is one of the most intelligent personal loan apps helping borrowers to get small cash loans in few minutes. SimplyCash offers instant cash loans in a range of Rs.50,000 – Rs.1,50,000 on an attractive interest rate and less processing fees +GST charges as applicable. 

As the instant loan apps populated online, different loan calculators such as EMI calculator, loan comparison calculator, interest calculator, etc. were created to derive accurate results in no time. A personal loan eligibility calculator is also one of the loan calculators online that gives a clear idea of the loan amount based on your monthly income. 

An interest rate is one factor that makes people think twice about whether to take a loan or not. The interest rate calculator easily calculates the interest rate of a personal loan. A borrower can make use of the EMI calculator to get clarity on the percentage of interest and tenure applied to the personal loan amount.   

With digital instant loan platforms, calculating monthly payable loan amounts is no more a difficult task. The interest rate calculator helps borrowers to stay away from such unpleasant surprises. All those who apply for instant personal loans to cope up with various financial reasons should use the interest rate calculator to stay clear with the monthly amount payable.   

Despite the gender bias prevalent in India, women have progressed in various fields leaving a mark for the generations to come. Considering this, various financial institutions and NBFCs witnessed the need for exclusively launching personal loans for women in India. Women are provided attractive interest rates on personal loans for education, travel, marriage, or any other kind of financial emergency.

An interest rate is an amount levied upon the principal loan amount while availing of a personal loan. Nowadays, evaluating interest rates has become a simple and quick process as the loan EMI calculator available easily on loan apps or financial websites. An interest rate calculator maintains the accuracy required while calculating the interest rate on the principal amount.

A personal loan is a credit amount sanctioned based on an interest rate that is to be paid till the loan tenure ends. Calculating interest is not a tedious task anymore, all thanks to the instant loan apps available for loan applications digitally. The loan interest rate calculator is one useful tool easily available on bank/finance provider websites and apps.

Despite the gender bias prevalent in India, women have progressed in various fields leaving a mark for the generations to come. Considering this, various financial institutions and NBFCs witnessed the need for exclusively launching personal loans for women in India. Women are provided attractive interest rates on personal loans for education, travel, marriage, or any other kind of financial emergency.

Have you ever wondered which loan can support you best at the time of emergency? Applying for a Personal loan or Gold loan, you may come across different interest rates, charges and fees but we need to go through the following advantages and disadvantages of a personal loan and gold loan before applying for it.

Although personal loans are more popular and fetch high number of goals, but being unsecured in nature it incurs high interest rate. In India, there are many borrowers who assume there is a vast difference between a home renovation loan and personal loan. However, the fact is, a home renovation loan is also a type of personal loan that borrowers rely on for upgrading/changing the home décor.

Personal loan is an unsecured loan type available with a collateral-free feature. Hence, financial companies charge a higher rate of interest on personal loans to earn more profits in a shorter span of time. As personal loans do not demand any asset or property as a collateral so a fixed rate of interest is charged throughout the loan tenure.
 

Multiple loans are cumbersome that increases the financial burden with increasing rate of interest. Different repayment schedules make loan management difficult causing confusion and delay

Loans have become a widely accepted credit service and lenders flexibly offer same day small loans. But keep in mind these small loans are sanctioned on a higher rate of interest

A finance company is a channel that lends money to borrowers for an interest rate. According to the Reserve Bank of India (RBI)

Interest rate is an amount a financial institution charges for the use of loan amount lent, deposited or borrowed. It is listed as the current liability and generally expressed as a percentage

Personal loan is a safe choice as many aspects related to personal loan are easily available online that borrowers can know before hand and stay updated with loan formalities. Fixed interest rate

Collating a start-up business capital is difficult as who would want to invest in a small business. Local lenders might support a start-up but definitely at a high rate of interest. Now, a business where revenue is unpredictable, taking a loan with high interest is not a good idea. 

Lifestyle and standard of living in urban cities have changed over the years. Most of the salaried individuals and start-up companies find it hard to survive & bear the expenses that come with improved living standards.