Lenditt

Instant Personal Loan App in India

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The Psychological Tactics Used in Personal Loan Scams

With the rise of instant personal loans, there has been significant growth of worldwide personal loan frauds as well. At first, these frauds offer very appealing deals that can easily make anyone feel like grabbing them on time. There are many psychological mind games that these loan fraudsters play with the victims. By knowing their psychological moves and financial fraud tactics, you can identify loan scams and prepare your defence before you get checkmated. 

Here are some important psychological tactics you should learn to sense this danger from miles away. This blog is written to raise loan fraud awareness and how to identify loan scams in India, which will enable you to make a smart move and save yourself from such fraudulent activities. It is important to research the lender before taking an instant personal loan. 

Creates a Sense of UrgencyHave you ever received a call saying, “This is a limited-period offer. You need to claim it right now to get the exclusive discount!” and you suddenly feel a sense of missing out on this fantastic offer? By creating a fear of losing this amazing deal, this scammer plays with you psychologically, which triggers you to take action immediately without giving a second thought. This trick shortens your reaction time when your brain forgets to make a logical decision. You might even forget to check whether the person on the call is authorised because your focus has been diverted towards the deal by creating fear.

Limited Period Offer: They tell you it is a limited-time offer with a low interest rate that may end in 15 minutes!

Exclusive Deals: They tell you this offer is specially made for you and that only some get this opportunity. This might make you feel lucky and trigger you to grab this opportunity.

Trust-BuildingIn this case, scammers try to control your behaviour by building trust through fake proofs to demonstrate their legitimacy. In the digital era, customers tend to build confidence in a brand through customer reviews and testimonials. This fraud exploits this psychological behaviour through clever play.  

Wins Your Trust Using Brand Name: We often encounter fake calls in which the person on the other end impersonates an authorised representative of a well-known financial institution to win your trust.

Fake Testimonials: They often generate fake testimonials on the website to support their legitimacy and create a good image in a victim’s eyes. 

Creating a Sense of FearScammers portray a situation as an emergency that requires urgent action. When humans feel threatened to their assets or personal gains, they are triggered to act impulsively. Scammers exploit this psychological behaviour in customers by threatening negative consequences if a particular decision is not made. 

Creates Greed in Your MindThe offer of a large sum of money quickly through a personal loan creates a sense of greed in a victim’s mind. One thinks that receiving such unexpected money can relieve a lot of financial stress. This excitement can instantly lead anyone to grab at this fake-money opportunity. 

Targets Financially Weak IndividualsScammers often target financially weak individuals because they can be easily manipulated under financial pressure. Loan Fraudsters offer them a “too good to be true” offer. People from underserved backgrounds are usually financially weak and not that educated.

Emotional ManipulationScammers often present their own story and try to connect with the victim emotionally by appealing to their empathy. Human behaviour tends to resonate when they feel they share the same background and emotions to connect with. It makes a victim trust a scammer more personally than professionally. 

Flattery/ComplimentsAnother technique is to praise your profile’s qualities and financial situation to build rapport. It's human nature to feel impressed by a person when they praise you. This helps create a good bond between two individuals. It is a common psychological manipulation used by scammers. 

Online Phishing/ScammingThey send crafted emails that have more to do with your psychological behaviour than with providing a service. Fake promises and never-before-heard-of, unimaginable offers they may present to the victims.

The End Note

To protect yourself from potential loan scams, be cautious of offers you receive via mobile, email, or SMS that seem too good to be true. In this case, the best decision you can make is to blindfold and ignore this offer. By understanding these personal loan scams, you can protect your hard-earned money from the reach of fraudsters. 

If you ever doubt a lender, consider seeking financial advice from a trusted financial advisor. Another helpful piece of advice is never to share your personal information with any individual or any organisation. 

Source Link: How Scammers Use Psychology to Trick Loan Seekers

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How to Get an Instant Personal Loan in 15 Minutes Online?

Our lifestyle has reached a point where “time is money” is pretty relevant. We value quick solutions over long processes; we book cabs through the app in seconds rather than take an auto from the streets. But how come this transition became so normal? There are multiple reasons: the apps provide safety and security, as well as guaranteed service at a reasonable price. But this development is not limited to commuting and food deliveries.

The fintech industry has taken the app and online world to another level. They have made the financial service available to everyone from anywhere through a small loan app. They provide the money you require exactly when you need it the most. This revolution not only contributed significantly to the economy but also benefited people and their needs. 

In this blog, we will be discussing the process of getting a personal loan in 15 minutes and how it works.

The Process of Getting an Instant Loan

Every loan app has its own criteria and limits. It offers different types of products, and each has a different interest rate and repayment terms. Some loans are for salaried people, some are for businesses, and some are for investors. But the crucial part for the customer is to check whether the lender is trustworthy.

One of the best examples of a trusted money lending app is Lenditt. It is available across India and caters only to salaried professionals. This instant personal loan app provides loans with a minimum monthly salary of ₹25,000 and a CIBIL score of 700 or above. 

Here’s how the process works. First, download the app and fill in the basic details. Once you fill in the details, you will be required to take a live selfie and upload the KYC documents through the app only. The entire app process is 100% digital. Thereafter, upload your employment proof. Next, upload the last 3 months’ salary slip or bank statements. Once this is done, the app quickly evaluates your profile and calculates the loan amount you’re eligible for. With Lenditt, this can range anywhere from ₹10,000 to ₹3,00,000. 

You can then choose the loan amount you wish to borrow, select a suitable repayment tenure, and pick the date on which your EMI will be deducted from your bank account. This flexibility helps you plan your finances better and avoid unnecessary stress. This instant personal loan app provides approval in 15 minutes.

Is Borrowing Money Online Safe?

Many people, especially our parents, still have doubts about borrowing money online. The good news is that, when you use a reputable and regulated lender like Lenditt, taking a personal loan through an app is safe.

The loan amount is directly and securely deposited into your bank account, and your information is used solely to process your loan and complete KYC formalities. Lenditt is a trusted app used by millions, making it one of the best options for small loans, offering quick, reliable funding.

If you are ever in a situation where you need money urgently, whether it’s a medical expense, an unexpected bill, or a time-sensitive opportunity, using a reliable app like Lenditt can save you from the stress of borrowing from friends or family. You stay in control of your finances, know exactly what you need to repay and when, and can manage everything from your phone without paperwork or long waiting times. 

Conclusion:

Nowadays, borrowing online has become a very safe and secure process. The purpose of it is to make financial help available to everyone, anytime. It becomes difficult for a person to take a loan from a bank when they are in the midst of an emergency. In such times, an online loan becomes very helpful. 

If you are a salaried professional looking for a quick approval personal loan app, Lenditt can be one of the best small loan app options to consider. Just make sure to borrow responsibly, understand the terms, and choose an amount and tenure that fit your budget comfortably.

Therefore, having access to instant credit is no longer a luxury; it’s a necessity. And with the Lenditt by your side, managing short-term financial gaps becomes simpler, smarter, and stress-free.

Source Link: Get an Instant Personal Loan Online in 15 Minutes

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Instant Small Loans Apps vs. Credit Cards

Instant small loan apps vs credit cards both serve the single goal of helping with immediate finance without any hassles.

If you have anything to buy on an urgent basis and don’t have that much amount of money in your bank account, you can swipe your credit card and continue shopping.

While those with instant small loan apps benefit from same-day loan sanctions.

So which one is the better option? When you need financial help, which one will you choose- instant small loans or credit cards?

Both are great options to support your urgent financial needs as you can get a personal loan without documents. Let’s go through the benefits to know which one is a better option.

How do a credit card work?

A credit card loan is a convenient way to pay when you require a small or big purchase. A credit card can be used physically in-store or online.

It comes with a downside too. If you lose control of your credit card purchase and cannot pay off all your balance in the time period, you will have to pay very high interest on the remaining unpaid amount. Over time it will push you into a debt trap.

The primary reason you can end up in this situation is that you do not need to pay off your balance all at once. You can keep using your card by just paying the “Minimum Amount Due,” which is mentioned on the credit card statement.

You can keep using your credit card until you exhaust any remaining balance. However, the interest keeps accumulating, and your interest will pile up much faster. Hence, this is why credit card loans are known as revolving debt.

Most credit card loans are unsecured. Some cards may provide some security, which is rare. A secured credit card does not require collateral, whereas you may have to put down a cash deposit as collateral for a secure line of credit.

When an instant small loan works better?

Instant small loan apps for a quick loan online are possibly a better option because it gives control over your repayment. Unlike a credit card, instant small loans are easy to avail of because the eligibility criteria are less strict. At Lenditt, the best loan app in India, you will get a personal loan for salaried employees based on your profile, qualifications, and needs. You can avail yourself of different types of instant small loans customized to suit your individual needs.

When comparing an instant small loan vs. a credit card loan, the difference between the two is that you get a sum amount upfront for an instant small loan. This is not the case with a credit card loan mostly used for purchases. Additionally, it is a personal loan without CIBIL and with these short-term loans, you only make repayments via pre-defined EMI over the loan tenure.

Instant small loan apps vs Credit cards – which one is better?

Both salaried and self-employed individuals with a minimum monthly income of RS 20,000 or above can use instant loan apps to raise immediate money. No collateral is required as instant small loans are unsecured loans and require no guarantee.

On the other hand, if you prefer credit cards over personal loans, remember you can avail yourself cash in hand through instant small loans but not with credit cards.

With instant small loan apps, you can know about your EMI in advance according to the plan of your repayments. At the same time, credit card bills are unpredictable and complicated with the increasing interest rate every month.

A smart borrower will mostly pick the instant small loan app, like Lenditt, as you can consider it to be the best loan app in India, over a credit card. As the confidential details in the instant loan app is secured, whereas with credit cards the problem is of misplacing it or the card getting damaged, and applying for a new one would take time.

Undoubtedly, credit cards are quite handy, but instant small loan apps give individuals the power to get easy urgent cash loans without documents in just a few steps.

In the lockdown scenario, you may have seen a lot of people struggling to pay their credit card bills. At the same time, personal loans for salaried employees from instant small loan apps are sanctioned with a limited amount which is not hard to pay in a period of time mentioned by the lender.

Conclusion

From an overall perspective, credit cards and instant small loans seem the same. While you can borrow funds and make repayments, the differentiator is the interest rates charged to the consumers by credit card companies and the instant small loan apps.

Credit card vs. small instant loan- which one is better? This is indeed very difficult to decide. A lot depends on your needs, perspective, and circumstances to determine a clear winner.

 Source Link: Instant Small Loans Apps vs Credit Cards: Which Wins?

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Reason of Rising Demand for Personal Loans in India

Long after the pandemic, the scenario of financial funding in India has changed drastically. Before the pandemic, there were days when people used to wait in queues to receive a loan amount after 10-15 business days. But when the culture flipped, and everything went digital, lending institutions found their own way to serve their customers with technologically backed systems. 

In a few years, customers shifted drastically to online loans, which offer convenience and unmatchable quick approvals. More Indians are getting personal loans than ever before, transforming how middle-class families manage their finances and aspirations. With personal loans increasing every year at record rates, this blog explores the key factors driving this unprecedented growth in India's lending landscape.

Common Personal Loan Uses in India

Funding National or International trips and experiences

Purchasing gadgets like mobile devices, laptops

Purchasing vehicle 

Buying home appliances to add more comfort to their life

Medical Emergencies, or say unexpected expenses

The Personal Loan Boom: What's Really Happening

India's personal loan landscape has transformed dramatically in recent years. To put it in perspective, stats show medical emergencies (32%), education (28%), and weddings (19%) are key drivers for small-ticket loans, alongside factors like convenient EMIs and festive spending. The market has grown by roughly 32% recently, signalling a fundamental shift in how people think about financial freedom. The biggest change? Everything's gone digital. Today's borrowers don't wait in bank queues anymore; they simply pull out their smartphones and get loan approvals within minutes. Better technology and supportive lending policies helped increase loan disbursements by nearly 12% in early 2025 alone. 

Reasons for Rising Demand for Personal Loans in India

Young Aspirations and Lifestyle UpgradesConsumers are no longer willing to postpone their plans and purchases. Personal loans offer the financial flexibility they seek with competitive interest rates. This generation admires experiences, aesthetics and tech-savvy. They want the latest gadgets that offer access to the latest features, a modern lifestyle and dream vacations right now. This shift in consumer behaviour has led to more innovations in personal finance.

Fintech & Digital Lending RevolutionAfter the pandemic, the online funding ecosystem has seen a significant rise, driven by fintech and digital lending platforms. Banks and other financial institutions now offer quick personal loan online options with minimal application steps and instant verification, making getting personal loans easier than ever for today's fast-moving generation. These technological advancements have directly contributed to the growth of India's personal loan market size, making it one of the fastest-growing segments of the financial sector. 

More Affordable than Credit CardsWhile many people use credit cards, they still hesitate to use them for emergency purchases. Personal loans offered provide flexible terms and financial inclusion for customers. 

Rising Credit AwarenessThanks to increased access to financial education and online resources. Indians today are more informed about CIBIL scores, interest rates, and debt management. This growing credit awareness encourages people to borrow responsibly and confidently. Borrowers are no longer afraid of loans; they see them as a strategic financial tool.

Financial InclusivityA major reason for the boom in personal loan demand is improved access. Earlier, loans were mainly available to salaried urban individuals. But today, gig workers, self-employed professionals, and even individuals with minimal formal documentation can access personal credit thanks to alternative credit scoring methods and inclusive lending policies.

Social Media & Consumption CultureThrough the trends spread on social media, a luxury lifestyle and expensive gadgets have been normalized. Whether it’s a wish to dress better, dine at luxury hotels, or own the latest gadgets, people feel encouraged to live a comfortable, upgraded lifestyle. Personal loans nowadays are a fast way to get instant cash.

ConveniencyTraditional bank loans involved waiting, paperwork, and face-to-face interviews. But now, people can apply for a quick personal loan online through an app, get approval within minutes, and receive funds in their bank account without stepping out of their home. This level of convenience is a game-changer.

Conclusion

The growing demand for personal loans in India reflects broader changes in India’s cultural and economic landscape. Indians have preferred unsecured personal loans over secured ones due to the minimal documentation and faster approval. As digital infrastructure grows and lending becomes increasingly accessible, personal loans will continue to help fulfil the dreams of millions of people around the world.

While the personal loan trend offers customers empowerment and flexibility, it also demands greater responsibility towards their financial obligations and long-term financial goals.  As India evolves, so will its approach to credit and personal loans remain at the heart of this financial transformation.Ready to explore your options? Apply for a quick personal loan online today from Lenditt’s Personal Loan App.

Source Link: Why Demand for Personal Loans Is Rising in India

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Exploring the 6 Loan Services Offered by Lenditt- Your Financial Buddy!

In the imaginary world, someday or the other, everyone might have wished to win a lottery and get thousands of rupees and the willingness to fulfil their dreams. Correct? 

Coming back to the real world, I might not have a lottery ticket for you, but I have the next best alternative—Lenditt! Yes, you heard that right; instead, you read that right! 

Introduction to Lenditt

Lenditt is India's leading instant personal loan service provider, getting a loan easier than a Bank. As your financial buddy, they make money matters way more manageable. Lenditt Loans are known for their quick service, transparency, reliability, and--offers the top 6 Online Loan Services in India designed to meet your financial requirements. These include Personal Loans for quick cash needs, Consumer Durable Loans for purchasing household items, Medical Emergency Loans for unexpected healthcare costs, Bike Loans for affordable transportation, Mobile on EMIs for smartphone ownership, and Travel Loans for fulfilling your wanderlust. 

Each of the above Loan Services is designed for the user’s convenience and financial needs, making Lenditt a go-to financial buddy for many. Let’s explore each loan service in detail.  1. Instant Personal Loan

An Instant Personal Loan is an unsecured loan provided by Banks, Credit Unions, and FinTech to an individual to cover unexpected costs when faced with a personal financial crisis. It lets you quickly access cash to fund unexpected emergencies or planned purchases. 

2. Instant Medical Loan

No one should face a medical emergency, but what if you did? 

Don’t worry; a Medical Loan designed by Lenditt provides quick access to funds to cover medical expenses.Lenditt's Medical Loan aims to eliminate financial stress and become your first medicine. We promise to cover your medical expenses and focus more on recovery.  

3. Instant Travel Loan

Instant Travel Loans are primarily intended to pay for travel-related expenses. It helps spread the vacation cost over time, making travelling more financially manageable. Lenditt Services aims to provide quick access to fund your travel needs. This speedy process is particularly beneficial for travellers who need to make last-minute bookings and have wanderlust. We want you to focus on packing your bags rather than spending. 

4. Instant Bike Loan

A bike loan is a secured loan lent explicitly for purchasing a motorcycle or scooter. Instant bike loans often act as game-changers in two-wheeler financing, giving individuals the quick cash to ride on their dream bike. You can purchase your favourite bike anytime with Lenditt's Instant Bike Loan option. We offer a quick application and fast-approval loan process, ensuring you get your dream bike today. 

5. Instant Mobile Loan

A mobile loan is specifically designed to purchase mobile phones. It allows consumers to buy new smartphones by paying in instalments, especially when they need an urgent replacement or upgrade to the latest version. Lenditt provides a flexible and accessible way for individuals to stay up-to-date with mobile technology.

6. Instant Consumer Durable Loan

An Instant Consumer Durable Loan is a financial solution designed to help individuals purchase household items such as electronics, appliances, and furniture without immediate full payment. Bring home the latest appliances and gadgets without financial strain.

Summary

The 6 loan servicesoffered by Lenditt demonstrate that it stands out as a robust financial partner for many borrowers. It provides customised loan options designed to meet individual's sudden expenses and emergencies. The word 'instant' implies that the loan app process, approval, and disbursement are quick, often occurring within minutes with minimal paperwork. These loans don't require any collateral submission and are determined by an individual's creditworthiness. Lenditt emerges as a financial solutions provider and a genuine financial buddy— Safe, Secure, Responsive, Reliable, and ready to support its customers.

Source Link:  Exploring the 6 Loan Services Offered by Lenditt – Your Financial Buddy

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Buying Your First Home in India? Here’s How to Actually Afford It

Introduction

Buying your first home is a once-in-a-while experience that can have that is both thrilling and terrifying. Because when it is your first time buying a real estate asset, it is essential for you to know about what you should take care of, and how to be financially prepared to buy your first home in India. 

This blog is going to tell you all the necessary steps you must take to make your home loan experience a smooth one!

Understand your Current Financial SituationBefore buying a house, find out if you are really prepared for the financial responsibilities it will bring.Check your monthly cash flow: Understand your monthly cash flow to adjust the EMI amount.Check your savings: Check how much you have saved so far for your own dream home.Check your Credit Score: A credit score which is 650-700+ is better when you are going for a home loan. If you do not match this requirement, first work on your credit score.Check Your Debt-to-Income Ratio: It shows how much of your monthly income is going towards your current repayments. It helps the lender identify whether you can manage additional home loan debt, or not. 

Identify What You Can AffordOnce you have understood your financial standing, you can calculate how much you can afford to buy your dream house. A recommended rule for buying a house with a loan is that your total housing expenses should not exceed 30-40% of your gross monthly income.

Start saving money for the Down PaymentThe banks and financial institutions in India offer you up to 80% to 90% of your property’s market value as financial funding. It means you will need to arrange the rest of the amount, like 10-20%, as a down payment.The more you try to pay as a down payment, the fewer repayments you will need to make. It can be a good money-saving plan in the long run. While you are arranging the down payment, ensure you keep a sufficient emergency fund balance to support your other financial goals. 

Understand Home Loan OptionsBefore finalising a property, consider exploring different home loan options, going through the terms and conditions and also comparing various loan offers and their interest rates. Here’s a basic checklist of what to look for while comparing home loans:Type of Interest Rate: There are two types of interest rates.1. Fixed interest rate- These are fixed rates that offer a steady rate throughout the loan period.2. Floating interest rate loans- They can vary based on the current marketing situations. Loan Tenure: A Long loan tenure can give you lower monthly chunks of payments, but a higher interest rate can increase the total cost you pay. A short loan tenure gives you higher EMIs and reduces the total cost you pay at the end.Processing fees and additional charges: Along with the interest rate, it is crucial to know other additional charges and processing fees mentioned in the document. As it can affect the total cost you pay if not considered.Terms and Conditions: Carefully understand the terms and conditions of your home loan. In case of any doubt, do reach out to the authorised representative.

Consider Additional Charges You May Need to PayWhen buying a first home, people often overlook the hidden charges and additional costs it will take to buy the house. Closing costs are fees a buyer has to pay when finalizing a new mortgage. This cost is generally 3 - 5% of the house cost you are purchasing. It may vary from lender to lender.Here are some extra costs it would take to buy your first home:

Stamp Duty and Registration Fees: The stamp duty charges and registration fees in India range from 6% to 8% of the property’s value.

GST for Under-Construction Property: If the property you are buying is under construction, you will have to pay the goods and services tax(GST), which is 5% for residential properties without an input tax credit.

Legal Process and Documentation Fees: It is preferable to hire a lawyer to verify the legitimacy of the property you are purchasing. The lawyer charges his fees for these legal charges.

Brokerage: If the house you are buying is bought through a broker, then you might also need to consider the brokerage charges. It is generally around 1-2% of the property value.

Maintenance Charges: If you are purchasing an apartment, then the cost of monthly maintenance also adds to the cost. It varies with the society and the amenities offered.

See The Big Picture of Your FinancesBuying your own home is an expensive decision, but it is also a long-term commitment. A stable source of income is a primary requirement when you are buying a home with a mortgage. Hence, it is very important for you to consider your other financial obligations such as medical emergencies, existing repayments, your child’s education and retirement savings.Before finalizing the decision, you must check if you can really afford to buy. A home right now, along with your upcoming financial commitments. 

Be financially prepared for Purchase CostsOnce you have bought the home, you may never know what costs or modifications you might need in your house. Also, furniture makes any home perfect, so be sure that you consider the interior and furnishing costs. Also, when you finally move into the new house, it would involve moving costs such as logistics, transportation and other unpredictable costs like labour charges, etc.

Get a Home LoanOnce you have checked all of the above parameters and you are ready to buy your first home, you can apply for a pre-approved loan. In a pre-approved loan, your lender reviews your financial details and your creditworthiness to determine the maximum loan amount you should receive from the lender.

Prepare for the Application ProcessTo keep your home loan application smoother, prepare your documents in advance to save time. Here are the basic documents each lender usually asks for in a home loan application:

Identity proof

Income Proof

Financial Statements

Proof of Assets

Good Credit History

Other Required Documents as Stated by Your Lender

Get Subsidies and Tax BenefitsPradhan Mantri Awas Yojana (PMAY): The Government of India offers various subsidies to buy your first home under schemes like Pradhan Mantri Awas Yojana (PMAY) and other tax benefits. PMAY provides a subsidy on the interest rate you pay on your home loan.Tax Benefits: You can also avail yourself of tax deductions under Section 80C for the principal repayments (Up to Rs. 1.5 lacs). Under section 24(b), you get the tax benefits for interest paid on home loans up to Rs. 2 lacs annually.Affordable Housing Benefits: The properties which are classified under the “Affordable Housing” scheme also give you finance benefits like reduced GST and PMAY benefits.

Prepare Your Loan Repayment StrategiesOnce you have finally followed all these steps and are ready to go to buy your first dream home, now is the time to consider your repayment strategies. Remember, it’s a commitment you are making with your lender. Ensure you never miss a payment that helps you build a good credit score. Prepare your repayment strategies that allow you to repay on time and earlier, so that you can reach your financial freedom as early as possible!

Conclusion

Buying your first home is an unknown yet adventurous experience you have once in a lifetime. To have a smooth experience, follow these tips to financially prepare for your new home. Also, education is a must to have a fair and stress-free home loan experience. 

Lenditt offers home loans that are easy to avail of and have no hidden fees. Lenditt is one of the fastest-growing digital loan platforms in India, which gives you a loan within 15 minutes with no tiring documentation process. 

Do check out the official webpage for more information.

Source Link: Affordable First Home Buying Guide for Young Indians

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Instant Loan App: Lenditt is quick loan app that helps you get personal loan approval within a minutes up to 3 lakhs with flexible EMIs and

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A Layman's Guide to Personal Loan!

Introduction

There’s always a time when we get introduced to new words and new terminologies in the world. Continuous learning makes a human updated and knowledgeable. But, when it comes to personal loans, it is more than just a single word.

In this ultimate layman’s guide for personal loans, we will walk you through every little thing you must know about personal loans.

What is a Personal Loan

A personal loan is a financial support provided by banks, NBFCS and credit unions to borrowers. You receive an amount of money and agree to repay it with the cost of borrowing in equated monthly instalments.

Terms Related to Personal Loans You Must Know

Principal Loan Amount: The total you are borrowing from your lender. It does not include the cost of borrowing you are repaying with the actual amount.

Cost of Borrowing: You pay a percentage of your principal amount while you repay your loan to the lender. It is called as cost of borrowing.

Credit Score: A three-digit number showcasing your financial behaviour in a credit report. It is generated based on your repayments, existing credits, and a credit utilization ratio.

Equated Monthly Investment (EMI): EMI is a fixed part of the total amount you repay each month. It consists of the principal amount and the cost of borrowing.

Loan Tenure: Loan tenure is the total period given to repay your loan, starting from the day of loan disbursement and last repayment.

Processing Fee: A fee a lender charges to process your loan application.

Collateral: A property you provide for security to your lender for secured loans.

Repayment: Payments you make monthly to return the borrowed amount to your lender.

Prepayment: When you choose to fully repay the loan before the end of the loan tenure.

Late Payment Fees: It is a fine you pay if you miss a payment.

Debt-to-income Ratio: It is a percentage of your income used to pay debts. The lower the debt-to-income ratio, the better the chances of loan approval.

How to Use a Personal Loan

Financial Emergencies: A Personal loan can be used for your purposes. It provides you with emergency financial assistance.

Medical Emergencies: You can use a personal loan to pay unanticipated medical expenses and medical bills.

Home Renovation: If your home needs repairing or you are looking to give a new look to your home during the festive season, personal loans can be a good funding option.

Travelling: From planned dream vacations to unplanned last-minute business trips can be funded using a personal loan.

Wedding Expenses: You can plan your wedding the way you always dreamt of, using a personal loan.

Eligibility Criteria for a Personal Loan

You must be an Indian Citizen.

Your age must be between 21 to 55 years.

You must have a stable income source.

Good Credit Score above 700 is required.

If you are a salaried professional, your monthly income must be above 25,000 INR. For self-employed individuals, the minimum monthly income must be above 25,000 INR.

Documents Required for Personal Loan Application in India

Identification: You must submit a valid identity document such as Aadhaar card or PAN card.

Proof of Stable Income: You must submit the last 3 months’ bank statement that proves your stable monthly income.

Factors Affecting Loan Approval

Credit Score: Credit score proves how reliable you are with the lender’s money. Hence, a good credit score gives you a higher chance of getting your loan approved.

Employment Status: A stable source of income is required to get your loan approved. It ensures you can make timely payments without fail.

Income: You must fulfil the criteria of the minimum income requirement set by your lender.

Existing Credits: If you already have loans, it may reduce your chances of getting your loan approved..

How To Get a Personal Loan

Apply: You can apply for a personal loan online by using online loan apps. An online loan application requires a few basic details and fewer documents for identity and income verification.

Wait for an Approval: Once you fill up the application and submit it, wait for your loan approval.

Disbursement: Once your loan application is approved, you will receive your funds straight into your bank account.

Repayment: Repay your loan in EMI set by your lender within the loan tenure.

Benefits of a Personal Loan

Easy Eligibility Criteria: Lenders keep easy eligibility criteria for personal loans to make them available for people coming from diverse backgrounds.

No collateral required: Personal loans offer you a small amount up to 3 lakhs that do not need any collateral.

Flexible End Use: You can use your loan amount for your purposes with freedom of end use.

Minimal Documentation: Less documentation is required for personal loans.

Fast Application Process: Short loan process with minimal documentation.

Quick Loan Approval: With no collateral process, the loan gets approved faster.

Quick Loan Disbursement: Loan gets quickly disbursed once it is approved.

Helps You Build Credit: When managed with responsibility, a personal loan can help you boost your credit score.

Things to Consider While Applying for a Personal Loan

Legitimacy of the Lender: Always check the legitimacy of your lender to safeguard against fraudulent lenders and non-RBI-approved lenders. RBI-approved lenders follow guidelines set by RBI and offer genuine terms and conditions for personal loans.

Cost of Borrowing: A Low cost of borrowing is better. It reduces the overall price you pay.

Additional Fees: Apart from the interest rate, you should consider checking the Application process, the administration fees, the annual percentage rate (APR) and other additional charges. Sometimes, you end up paying more additional charges than the cost of borrowing, which can make you pay more in gross.

Prepayment Penalties: Must check the penalties you need to pay in case of missed payments.

Repayment Terms: Check repayment terms carefully.

Terms and Conditions: Carefully read your loan agreement to avoid surprises later.

Lenditt Instant Digital Personal Loans

Lenditt offers digital personal loans through its fastest online loan app in India. With dynamic customer support that enables 24/7 assistance, Lenditt ensures you get the best financial support in your tough times.

You can get up to Rs. 3 lakhs instant personal loan with a competitive cost of borrowing from the comfort of your own home. You do not need to step out and wait in a long queue to receive money in emergencies.

Also, AI-backed e-KYC and entirely paperless and online documentation simplify your loan experience.

Go and check out our exciting and customized loan products on our official website.

Conclusion

Thank you for coming this far with us!

Whenever you feel like refreshing your personal loan basics, you can visit this blog. Also, if you want to learn more about loans and financial literacy, you can check out our previous blogs on our official website.

Source Link: A Complete Guide for Layman to Apply for a Personal Loan in India

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Drowning in Debt? How One Personal Loan Could Simplify It All?

Ever felt overwhelmed by handling several EMIs every month? The constant juggle of making multiple payments and remembering the due dates to avoid late fee charges can be frustrating and keep you stuck in financial worries. But, debt consolidation is the thing that can help you manage your debts more smartly. Stick to the end of this blog to learn how you can simplify your debts with a debt consolidation strategy.

What is Personal Loan Debt Consolidation?

Debt consolidation is the action of combining multiple debts into a single and more manageable loan.

It reduces your efforts and makes your repayments easier. 

Why Use a Personal Loan for Debt Consolidation?

A personal loan is an unsecured loan that can be used for a variety of purposes, including debt consolidation. This is why many people prefer personal loans to settle debt:

Fixed interest rates: Personal loans often have fixed rates, unlike credit cards, which make your monthly payments predictable.

Defined repayment term: You'll have a clearly defined end to your loan, usually somewhere between 1 and 7 years.

Simplified payments: Having to track one loan is much better than having to track many debts.

Step-by-Step Strategy for Debt Consolidation Using Personal Loans

Evaluate Your Existing Financial SituationFirst, you need to account for all your debts:

Total borrowed amount

Interest rates

Monthly payments

Repayment Tenure

Doing this will tell you if a personal loan is worth it, and if you will save any money, cut your payments down to one payment, or pay down your debts quicker.

Check Your Credit ScoreYour credit score plays a significant role in the interest rate you will receive on a personal loan. The higher your credit score, the better your chances of securing a loan on favourable terms.If your credit score is low, consider taking a few months to improve your score before applying.

Shop Around for the Best LoanDon’t settle for the first offer. Must compare all available options for the most favourable funding.

Interest rates

Loan terms

Total Applicable fees including application fee, APR

Prepayment penalties and late payment penalties

Many lenders offer prequalification, which allows you to see potential rates without impacting your credit score.

Calculate the Total CostYou can also use a loan calculator available online on various websites to estimate the following:

Monthly payment

Total interest paid over time

Savings compared to your current debt scenario

Make sure the total cost of the personal loan is less than the combined cost of your current debts.

Apply for the LoanOnce you’ve found the right loan, submit your loan application, either online or in person. You will need the following documents when applying for a personal loan in India.

Proof of income

ID verification

Debt statements

The loan approval time varies from lender to lender. While going through digital lenders, you can get same-day approval and funding.

Pay Off Your Existing DebtsUse the loan funds immediately to pay off your other debts. Avoid the temptation to use the money for anything else.

Focus on Repayment DisciplineNow that you have a single monthly payment:

Set up auto-pay to avoid late fees

Stick to a budget

Avoid getting a new debt while you repay the loan

Avoid Impulse buying 

Benefits of Personal Loan Consolidation

Lower interest rates (if you have good credit)

Fixed monthly payments

Streamlined debt management

Faster debt payoff

Is Debt Consolidation Right for You?

You can consider a personal loan for debt consolidation in the following cases:

You have multiple high-interest debts.

You’re struggling to manage multiple due dates.

You have a solid repayment plan.

You’re committed to not accumulating more debt.

Real-Life Use Cases of Debt Consolidation

Rahul, a 34-year-old marketing executive, was juggling three credit cards, an auto loan, and an EMI for a personal gadget. Missing one EMI affected his credit score. With a single personal loan for debt consolidation, Rahul repaid all his high-interest debts and now manages just one fixed EMI monthly, stress-free and interest-saving.

FAQs

Can I use a personal loan to clear overdue payments?

Yes, using a personal loan to clear overdue payments is a smart way to avoid late fees and credit damage, especially when you're dealing with high-interest debt like credit cards.

How do I apply for a personal loan for debt consolidation?

Visit your preferred lender’s website or mobile app, fill in your basic details, upload necessary documents, and get your loan approved, often within 15 minutes. At Lenditt, we offer same-day approval with minimal paperwork.

In a Nutshell…

Debt consolidation is a smart move to make. But, it also comes with a great responsibility, such as repayment discipline, financial planning, and especially a commitment from you to stick to your financial plans.

If you are looking for debt consolidation using a personal loan, Lenditt is a good option. Consolidating debt with a personal loan can be a smart and empowering financial move, but it’s not a magic fix. It requires discipline, planning, and a commitment to changing financial habits. With the right strategy, a personal loan can help you break the cycle of debt, reduce financial stress, and set the foundation for long-term financial stability.

Source Link: Apply Personal Loan for Debt Consolidation

debt consolidation

Ever felt overwhelmed by handling several EMIs every month? The constant juggle of making multiple payments and remembering the due dates to avoid late fee charges can be frustrating and keep you stuck in financial worries. But, debt consolidation is the thing that can help you manage your debts more smartly. Stick to the end of this blog to learn how you can simplify your debts with a debt consolidation strategy.

What is Personal Loan Debt Consolidation?

Debt consolidation is the action of combining multiple debts into a single and more manageable loan.

It reduces your efforts and makes your repayments easier. 

Why Use a Personal Loan for Debt Consolidation?

A personal loan is an unsecured loan that can be used for a variety of purposes, including debt consolidation. This is why many people prefer personal loans to settle debt:

Fixed interest rates: Personal loans often have fixed rates, unlike credit cards, which make your monthly payments predictable.

Defined repayment term: You'll have a clearly defined end to your loan, usually somewhere between 1 and 7 years.

Simplified payments: Having to track one loan is much better than having to track many debts.

Step-by-Step Strategy for Debt Consolidation Using Personal Loans

Evaluate Your Existing Financial SituationFirst, you need to account for all your debts:

Total borrowed amount

Interest rates

Monthly payments

Repayment Tenure

Doing this will tell you if a personal loan is worth it, and if you will save any money, cut your payments down to one payment, or pay down your debts quicker.

Check Your Credit ScoreYour credit score plays a significant role in the interest rate you will receive on a personal loan. The higher your credit score, the better your chances of securing a loan on favourable terms.If your credit score is low, consider taking a few months to improve your score before applying.

Shop Around for the Best LoanDon’t settle for the first offer. Must compare all available options for the most favourable funding.

Interest rates

Loan terms

Total Applicable fees including application fee, APR

Prepayment penalties and late payment penalties

Many lenders offer prequalification, which allows you to see potential rates without impacting your credit score.

Calculate the Total CostYou can also use a loan calculator available online on various websites to estimate the following:

Monthly payment

Total interest paid over time

Savings compared to your current debt scenario

Make sure the total cost of the personal loan is less than the combined cost of your current debts.

Apply for the LoanOnce you’ve found the right loan, submit your loan application, either online or in person. You will need the following documents when applying for a personal loan in India.

Proof of income

ID verification

Debt statements

The loan approval time varies from lender to lender. While going through digital lenders, you can get same-day approval and funding.

Pay Off Your Existing DebtsUse the loan funds immediately to pay off your other debts. Avoid the temptation to use the money for anything else.

Focus on Repayment DisciplineNow that you have a single monthly payment:

Set up auto-pay to avoid late fees

Stick to a budget

Avoid getting a new debt while you repay the loan

Avoid Impulse buying 

Benefits of Personal Loan Consolidation

Lower interest rates (if you have good credit)

Fixed monthly payments

Streamlined debt management

Faster debt payoff

Is Debt Consolidation Right for You?

You can consider a personal loan for debt consolidation in the following cases:

You have multiple high-interest debts.

You’re struggling to manage multiple due dates.

You have a solid repayment plan.

You’re committed to not accumulating more debt.

Real-Life Use Cases of Debt Consolidation

Rahul, a 34-year-old marketing executive, was juggling three credit cards, an auto loan, and an EMI for a personal gadget. Missing one EMI affected his credit score. With a single personal loan for debt consolidation, Rahul repaid all his high-interest debts and now manages just one fixed EMI monthly, stress-free and interest-saving.

FAQs

Can I use a personal loan to clear overdue payments?

Yes, using a personal loan to clear overdue payments is a smart way to avoid late fees and credit damage, especially when you're dealing with high-interest debt like credit cards.

How do I apply for a personal loan for debt consolidation?

Visit your preferred lender’s website or mobile app, fill in your basic details, upload necessary documents, and get your loan approved, often within 15 minutes. At Lenditt, we offer same-day approval with minimal paperwork.

In a Nutshell…

Debt consolidation is a smart move to make. But, it also comes with a great responsibility, such as repayment discipline, financial planning, and especially a commitment from you to stick to your financial plans.

If you are looking for debt consolidation using a personal loan, Lenditt is a good option. Consolidating debt with a personal loan can be a smart and empowering financial move, but it’s not a magic fix. It requires discipline, planning, and a commitment to changing financial habits. With the right strategy, a personal loan can help you break the cycle of debt, reduce financial stress, and set the foundation for long-term financial stability.

Source Link: Apply Personal Loan for Debt Consolidation

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Apply Personal Loan for Debt Consolidation

Ever felt overwhelmed by handling several EMIs every month? The constant juggle of making multiple payments and remembering the due dates to

Consolidating multiple debts through a personal loan can simplify your financial obligations by amalgamating various monthly payments into one.

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How is a Loan Against Property Different from a Home Loan?

Secured loans have been very popular for decades because of the lower interest rates they offer to borrowers. Thereby making home loans and loan against property the best choices. Also, a longer tenure of repayment feature on both is the cherry on top. Both financial and mental relaxation are a privilege when you go for a secured loan. While both home loans and loans against property sound quite similar, there is a significant difference you must know before proceeding with it.

This blog gives you a brief explanation of how a home loan and loan against property are different from each other.

Distinguishing Between Home Loan and Loan Against Property

Definition

Home Loan: A home loan is taken for buying a constructed and ready-to-move-in property or a property that is under construction.

Loan Against Property: A Loan Against Property means a loan that is taken against the property you already own.

Collateral Security

Home Loan: The property you are buying with the loan is secured against the loan.

Loan Against Property: Secured against the property you own.

Use

Home Loan: For buying a new home, renovating and modifying your existing home.

Loan Against Property: For personal or business purposes.

Tax Benefits

Home Loan: Principal and interest are eligible for tax benefits.

Loan Against Property: Interest is eligible for tax benefit when the loan is used for business purposes

Interest Rate Comparison

Home Loan: Lower interest rate than loan against property. You can get a home loan in India with an interest rate of 8.71% to 9.1% per annum.

Loan Against Property: Higher interest rate as compared to home loan, usually 9.50% to 13.30% per annum.

Repayment Tenure

Home Loan: You can typically get a Home Loan for up to 5 to 30 years, with the most common being 30 years.

Loan Against Property: You can typically get a Loan Against Property for up to 5 to 30 years, with most lenders offering between 10 and 20 years.

Documentation

Home Loan: Basic documentation for your KYC is required, such as identity proof, income proof, bank statement and property details.

The property papers are secured with the bank until you repay the loan completely.

Loan Against Property: 

Basic documents like identity proof, income proof bank statements and property papers will be required.

The mortgage will be created by the bank on the collateral property.

Both of these loans are quite affordable as compared to unsecured loans. When you are looking to buy a house, you can go for a home loan. Accordingly, when you are looking for a loan with low interest rates, a loan against property is a secured loan you can opt for.

Lenditt offers affordable online home loans and loans against property that support the dream of owning a home by millions of Indians. Competitive interest rates, transparent loan agreements and a swift loan application process are all you need in the fast-moving world. Lenditt is a platform that understands your convenience and values your time as well.

Choose Lenditt. Choose the Future of Loans.

Source Link: Home Loan Vs Loan against Property

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The Convenience of Unsecured Loans that Require No Collateral

Are you looking for a loan that does not need your valuables to be pledged? That’s where unsecured personal loans or signature loans come in, where no collateral, no security, just your credit score and identity. Unsecured loans without collateral offer instant financial support with no collateral required. These loans are given based on the borrower’s creditworthiness instead of collateral. Here, you do not have to mortgage your property or pledge your valuables to access funds. These funds are for those individuals who need quick funds and prefer not to risk their valuables.

Types of Unsecured Loans Without Collateral

Here are the most common types of Unsecured Loans without collateral available in India:

Personal Loans: Personal loans are the most popular unsecured loans and are easy to get in no time. They can be used for various personal purposes and have flexible end uses.

Education Loans: Student loans are available to support a student's education without collateral.

Business Loans: You can avail of an unsecured loan without security for your business purposes.

Payday Loans: Payday loans are money you can borrow from a bank or NBFC to support your financial needs. You repay the loan with your next salary.

Features of an Unsecured Personal Loan Without Collateral

No need for collateral as security: These loans do not require collateral, which provides security to the lender. Instead, loan approval relies on a borrower's creditworthiness.

Instant Loan Approval: It does not require any collateral. Hence, your loan can receive instant approval, where documentation of your valuable assets as security is not needed.

Flexible Repayments: These loans come with flexible repayment terms.

Quick Funding: You can get quick loan funding while availing of an unsecured loan with no collateral.

Creditworthiness: A Good credit score that proves a borrower’s capacity to repay the loan on time.

Real-Life Use Cases of a Loan Without Security

Meera’s Medical Emergency Meera, a 29-year-old teacher in India, needed ₹50,000 for her father’s surgery. With no assets to pledge, she opted for an instant personal loan without collateral via the Lenditt app. The process took less than 15 minutes, and the funds arrived the same day.

Benefits of Choosing a Loan Without Security

No risk of losing assets: Since there is no collateral involvement while getting this loan, you do not need to worry about losing your valuables if you fail to make timely payments.

Faster Process: Due to its no-collateral nature, the loan process is shorter than other loans that require collateral. This leads to a quick loan application process.

Perfect for Business Purposes: These loans are best for business purposes, where you do not need to worry about collateral.

Build Good Creditworthiness: These loans are short-term in nature. Hence, it provides you with a good opportunity when you are aiming to build a good credit score.

How to Apply for a Loan Without Collateral in India?

Applying for an unsecured personal loan in India is simple with digital lenders like Lenditt. Here's how:

Download the app or visit the website

Fill in your basic details

Submit income proof and ID

Get instant approval without the need for collateral

Your loan is disbursed via e-Transfer within 15 minutes.

FAQs

How much can I borrow through an unsecured personal loan? Most lenders in India, like Lenditt, offer unsecured loans ranging from ₹10K to ₹2 Lakhs depending on your income, credit score, and eligibility.

What happens if I can’t repay the loan? While there’s no risk to your physical assets, missing payments can negatively impact your credit score and future borrowing ability. Always borrow an amount you’re confident you can repay.

The End Note…

This blog showed that unsecured loans are an excellent option for emergency funding that requires no collateral. These loans are readily available, which makes it a cherry on top. But, the one thing you should never forget while approaching financial funding is to consider your financial aspects and identify your needs.

Unsecured personal loans are perfect for emergencies or short-term needs.

A good credit score is essential to get approved for these loans.

These loans come with faster processing, flexible repayment options, and zero risk to your assets.

Lenditt is one of the finest lenders in India, where you can get your instant personal loan without collateral, and that too within just 15 minutes. Our official mobile app is designed to offer our customers a smooth loan experience while providing financial support in emergencies. With reliable platforms like Lenditt, applying for a loan without collateral in India has never been easier. Learn more about our loans at our official website.

Source Link: Unsecured Loans: Borrowing Without Collateral

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Breaking News: Big Relief for Home Buyers - RBI Cuts Repo Rate

The Reserve Bank of India has recently provided big relief to Home Buyers by making a significant move and cutting the repo rate in its latest policy review. The repo rate, which directly influences lending rates, has dropped to 5.5%, the lowest in 3 years, offering a great opportunity for home loan borrowers. This was announced by the Reserve Bank of India (RBI) on June 6, 2025. If you have a floating-rate home loan, you could benefit from lower monthly EMIs. The RBI announced a 50-basis-point (bps) reduction in the repo rate. This marks the third consecutive rate cut of the year. For the home loan customers, it means that banks adjust their interest rate downwards. Potentially, it will result in lower EMI.

Here’s how a minor fall in the repo rate benefits you and your lending experience. 

What is a Repo rate?

Repo rate is the rate at which money is lent to commercial banks by the Reserve Bank of India. When the repo rate falls, banks usually extend this advantage to borrowers, meaning customers, in the form of lower interest rates on loans such as home loans.

If your home loan is tied to a floating rate of interest, any decline in the repo rate will directly affect your EMI and make it lower, helping you save a good sum of money in the long run.

How Does This Repo Rate Cut Affect Existing Home Loan Borrowers?

Floating Interest Rate Home Loans: If your home loan is based on a floating rate, the interest rate will decrease due to the repo rate cut, resulting in lower EMI.

Fixed-Rate Home Loans: If you have a fixed-rate home loan, your current EMI will not change with the repo rate cut.

However, if you refinance your existing loan with a floating interest rate loan, you can receive the repo rate cut benefits.

How can you Maximize Savings on your Home Loans?

Reach Out to Your Lender: Call your bank or lender to see if they are passing on the benefit of reduced rates following a cut in the repo rate. Your lender may pass the reduction on to you as a lower EMI.

Refinance Your Loan: You can also refinance your home loan with a lender who offers you better terms or a lower interest rate. Also, do not forget to read and compare all costs before making a decision.

Think About Prepaying Your Loan: When rates are low, you can make a prepayment on your loan, which will bring down your principal and will also lower your overall interest costs over time.

Conclusion

For home loan borrowers, the RBI's recent repo rate cut provides a golden opportunity to save up money. A floating-rate home loan means the future EMI will be reduced if you have a home loan.

Pro Tip: Make sure to read your loan agreement and ask your lender how the recent changes can reduce your home loan EMI. This may be the ideal time to review your home loan and see how the changes can help you save money.

Source Link: RBI Cuts Rates by 50 bps to 5.5%. Significant cut down in Home EMIs

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Here’s why a Good CIBIL Score is Key to Getting a Personal Loan Quickly!

Are you thinking about taking a personal loan in India? We all know the basic eligibility criteria you must fulfill for a quick personal loan. CIBIL score is the main factor when you are applying for personal loans. Personal loans are usually unsecured loans where you do not need to submit any collateral. Hence, the CIBIL score is the score that represents your financial attitude to your lender.

This blog will make you understand exactly why a good credit score is key to getting a personal loan quickly!

What is a CIBIL Score?

CIBIL score is a three-digit number derived by TransUnion CIBIL Limited for each profile. CIBIL score is prepared based on the data enclosed in the Credit Information Report(CIR).

In simple words, a credit score reflects personal financial behaviour a person is cultivating towards financial responsibilities such as timely repayments, credit mix and credit utilization.

The score helps lenders analyze your creditworthiness.

Credit score ranges are as given below:

800–850 - Excellent 740–799 - Very good 670–739 - Good 580–669 - Fair 300–579 - Poor

How is your credit score determined?

Payment History: Making your repayments on time gives your credit score a great boost. While defaults downgrade your credit score.

Credit Mix: Two major types of credit are secured and unsecured borrowing. The balance you create between both of these types in your profiles is called credit mix. A good credit mix reflects positively on your credit.

Credit Utilization: If you have utilised a high percentage of your credit limit, it shows that you are dependent on credit which negatively impacts your credit score.

How To Get A Personal Loan Without a CIBIL Score?

In case of a bad credit score, you can still get the loan with collateral. The purpose of your credit score is to prove your obedient financial behaviour. A Credit score is a must when you are choosing an unsecured loan that comes without collateral.

While secured loans do not require a good credit score. You can go for a secured loan by keeping your property such as land, a house you own or a commercial property, as collateral and receive your loan amount.

How To Build A Good Credit Score?

Pay Your Bills on Time: Around 35% of your credit score is dependent on your on-time repayment frequency. Hence, you are highly likely to positively boost your credit with on-time payments.

Keep Monitoring Your Credit Score: Checking your credit score on a regular basis helps you build strategies to push your credit score higher. On some websites, you can even check the next predicted score based on how much outstanding amount you wish to clear while making the next repayment.

Limit Credit Inquiries: Each time you apply for a loan or a credit card, the lender will access your credit score. A high number of credit scores being accessed shows a bad impact on your credit report.

Set Auto Payment: You can talk to your lender and set up automatic payment. You can choose the date when you want to repay your credit. You will no longer need to manually pay your EMI. Also, you will be free from the worry of making on-time payments.

Make Advance Payments: Making advance payments would keep you ahead in this game. Also, when you have already paid your future EMIs, you save yourself from penalties for paying late in case of late payments. The good thing is that you also completed your repayment sooner than expected.

Benefits You Can Get With a Good Credit Score While Applying for a Personal Loan

Good Credit Score, No Need for Collateral While you are applying for an unsecured loan, your credit score is going to prove your responsible financial behavior to the lender. Hence, only with the support of good credit, you can get a personal loan with ease.

Better Interest Rates A good credit score automatically opens the door for you to better interest rates.

Credit Cards with Exciting Benefits Borrowers with good credit scores can apply for a credit card that offers exciting benefits.

Easy Loan Approvals Lenders prioritize loan profiles with good credit scores because these borrowers are highly likely to repay on time with their excellent financial behaviour. It gives security to the lender who is offering you financial support.

Longer Loan Tenure Approvals Borrower profiles with good credit scores can also apply for a loan with a longer repayment tenure.

Higher Loan Amounts As we know, a good credit score is an opportunity to receive many exciting benefits. You can also get quick approval for higher loan amounts with good credit scores.

Conclusion

In conclusion, you should never ignore the impact your credit score can have on your future loan inquiries. Definitely, financial needs can arise anytime without asking. But, if you have always worked hard towards your credit score in your good days, it will be your saviour in your bad days.

Lenditt personal loan app is the top choice of Indians for quick personal loans. With basic criteria such as a good credit score, a stable source of income and age between 21 and 60, you are eligible for Rs. 2 lakh personal loan.

We understand the emergencies that happen without prior notification and your urgent financial needs. Hence, we offer quick loan approval under 15 minutes to our customers. Also, quick loan approval followed by quick loan disbursal is a cherry on top!

Until we meet in our next blog, keep monitoring your credit score!

Source Link:Good CIBIL Score is Key to Getting a Personal Loan Quickly

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How Do You Build up Your Credit Score Your Way, and Maintain it in the Long Run?

Getting easy money using a credit card, mortgage loans, and personal loans seems so appealing to our minds. Right? However, these financial games involve some rules, regulations, and certainly your finance report card- your credit report. These financial accessibilities bring an in-charge in your life. In this blog, we’ll read about some of the smart tips to maintain a good credit score in the long run, that will boost your credit like a rocket!

Understanding Credit Score & Credit Report

What is a Credit Score?

Credit Score is a three-digit number on your credit report ranging from 300 to 900, representing an individual’s creditworthiness. It is also known as CIBIL score, Equifax score, Experian score, or CRIF High Mark score.

Credit Report

A Credit Report includes financial reliability and repayment history, or, say, the creditworthiness that will enable a lender to identify how financially responsible the individual is! It includes your current balances, Loan amounts, Account types (Credit types), and Payment history.

Simple Steps to maintain a Good Credit Score in the Long Run!

While building a credit score is a long process, you must know the importance of the baby steps taken toward financial wisdom. A financially responsible behavior to your to-do list every day and achieve a habit of good credit health. Here are some wise steps to build up your credit score your way.

On-Time Payments Not to mention, a credit score is your certificate that shows how financially responsible you are. And it is highly associated with the monthly payments you make to cut off your debt. Making your payment from time to time, whether for loan repayment or credit bills, would keep your credit score at its peak. Here are some of the specific ways to pay off your debt in smart ways, such as, debt consolidation, balance transfer credit card, and debt management strategy.

Do not close your Bank Account The older your bank account is, the wiser (stronger, maybe!) your creditworthiness is! In financial language, the FICO score of your credit report is driven by the age of your oldest account and the average age of your other accounts. This span of your credit makes the 15% strength of your FICO. What is a FICO score? A three-digit number that is generated in your credit report represents how likely you are to repay the loan.

Have diverse Credit Modes 10% of your FICO score is built up from how effectively you can manage different types of credits. A person who uses a credit card, a mortgage loan and a personal loan would have a stronger credit mix than a person who only uses a credit card as a mode of financial convenience.

Do not Apply for new credit cards too frequently! If you are one of those people who like to enjoy benefits when getting a new credit card every few months, then you are the one who should be alert right now. Every time you knock on the lender’s door for a new credit card, the lender will look for your financial identity card, i.e. your credit report, to find how trustworthy you are. The more frequently you apply for a credit card, it negatively impacts your credit.

Be an Authorized User Ask your parent and loved ones to add you as an authorized user; it will build you a unique reputation on your credit report. Provided their credit profile must have a good financial reputation, a.k.a good credit history.

Consolidate Your Debts This is the most effective way to easily maintain your credit while it also simplifies your repayments. When you have multiple debts, consider buying a low-interest-rate loan and consolidate those old debts into one. It will help you save a good amount of money, and also your monthly EMIs will be united as one.

Keep a watch on your Credit! Keep a regular watch on your credit report. Especially if it shows late repayment on a high-interest rate loan/credit, it negatively impacts your overall credit health. Check for identified bank accounts in your name due to identity theft. If you find any, do not wait for tomorrow, draw the attention of authorities right now. If your application is genuine, generally, the credit bureau takes 30 to 45 business days to resolve the credit card disputes.

How Long Does it take to Build a Good Credit Score?

It depends on the factors that have made your credit slip off the cliff. There are no definite points assigned to each financial action you take. But, by keeping all these tips in mind, you can slowly and gradually bring your credit score to its zen state.

Maintaining a good credit score is inevitable in your financial journey. A good credit score not only represents your financial awareness but also enhances your chances of getting better loan offers, top-tier credit cards, low interest rates and a reputation in the lender’s eye indeed!

By adopting these habits and staying informed about your credit health, you're taking significant steps toward a brighter financial future. There are several genuine websites that give you free credit score access. You can simply monitor your credit score by visiting these reputed sites.

Always keep up your credit score!

Source Link: Build up Your Credit Score Your Way, and Maintain it in the Long Run

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Best Ways to Manage Big Purchases & Expenses with Lenditt Personal Loan

Borrowing money is a good option to manage finances while making big purchases and hosting big events of our lives. From your basic needs to advanced fun trips, to even big purchases, Lenditt offers personal loans for various purposes. After years of serving a number of customers, we understand every emotion behind every big purchase that our customers make.

To learn some of the best practices to manage Big Purchases with a Lenditt Personal Loan, stick to the end of this blog. 

Plan the Product Everybody plans things in their head. Everybody dreams of getting things that are budget-friendly and modern at the same time. But before planning to get a gadget, home appliance or furniture, take a moment to evaluate its use, urgency, and most importantly, the budget. However, only a few of them have implemented it in real life. Be that 1%.  Stick with your budgets and prioritize your finances.

Understand Loan Terms Be responsible for the loan you borrow and consider understanding each term and condition of the loan application. If needed, seek professional help or help from the lender itself and clear all your doubts.

Make Punctual Repayments Because it’s your punctuality that will speak for you in your credit report, the excitement you have while you get an instant personal loan is quite amazing. With the same enthusiasm, you can show your gratitude towards the financial help you get from the lender in no time.

Early Payment Saving money and completing your repayments earlier can be a big mental relief for you. Additionally, a good credit score boost is on its way.

Loan Protection Plan A loan protection plan is your backup if you face job loss or temporary unemployment. This protection plan would help you stay in line with your EMIs.

Plan your Future You should always consider the role of your borrowings in your financial future. While personal loans are a good source for financial needs, considering how they can help you shape your financial future and put it to the best rewarding use is a smart move to make.

What can you cover under Big Purchases?

For any purpose, Lenditt’s instant personal loan can be your best friend. From covering basic recurring expenses like home renovation, car repair, and appliance repair, to purchasing a new bike or a new mobile set, Lenditt’s personal loan covers it all.  

Home Renovation: Whether it’s a festive season or necessary to renovate your home, you can apply your personal loan amount here as well.

Car Repair: Car servicing and repairing actually require a large amount of money. While your monthly budget is already planned, the sudden failure of a vehicle can affect it. Fix your car using a personal loan.

Purchasing Appliances: Remember the last time an important appliance got damaged without 

Medical emergencies: These step into people’s lives without prior notification. Right? Medical loans from Lenditt are meant to make sure that a borrower does not feel a lack of finances in their tough situations. 

Travel Expenses: It’s always a necessity to recharge yourself with recreational activities. Right? A fun trip with our family and friends. From booking your stay to experiencing the best of the destinations, a good amount of money is a must-have. Instant travel loans serve this purpose very well, with a perfect balance of competitive interest rates and flexible repayment tenure.

Instant Mobile Loan: Mobile devices have become an essential part of human life. A handset connects you with your loved ones. Hence, if you are looking to borrow money to get a mobile, then Lenditt’s instant mobile loan is the solution.

Why apply for a Lenditt Personal Loan to make those Big Purchases? 

Fast as Lightning!

No more waiting for days to get loan approval. When you are with Lenditt, the lightning-speed loan approval is followed up by a swift loan disbursement directly into your bank account. 

100% Digital Process

Everything is available at your doorstep nowadays. In the same way, a loan is right there at the doorstep with an entirely digital loan application process. 

Transparency

What if it looks like you don’t get a clear window while travelling? Frustrated. Right? Hence, your journey of Lenditt instant loans becomes the best loan experience because of the transparency we follow at Lenditt. From transparent loan charges to the loan agreement, nothing is hidden from you.

In a Nutshell…

Getting a personal loan is no doubt a good choice, but it’s your financial behavior that will define the real meaning. How you use your personal loan highly affects your credit score, and how you pay it back makes or breaks your financial future. These smart ways and applications of loans in your basic to advanced life experiences would certainly help you make the best out of your personal loan. 

Source Link: Manage Big Purchases & Expenses with Personal Loan

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Need a Personal Loan? Reasons Digital Lenders are a Better Option

The world has evolved drastically during the last few decades, and so has the lending industry. The journey from traditional banking to digital banking has changed how we manage everyday finances. Recently, digital lenders have emerged as trendsetters offering alternatives to traditional and tedious lending methods.

Let’s check out what makes Digital Lenders a better option:

Convenience 24/7 Accessibility: One of the significant benefits of digital loan applications is that they can be accessed from anywhere, at any time. Convenient: Since the entire loan application process is online, it is a convenient way to get financial support right away. Streamlined Process: With simple and quick steps, digital loan applications are easy to fill out and apply. Secure & Transparent: Safeguarding your personal information with end-to-end encryption and transparent practices makes digital lenders the most selected choice for digital borrowing.

Documentation Minimal: Documentation in digital borrowing is simplified to speed up the loan application process. Hence, you don’t need to rush to gather documents in an emergency. You can start your loan application in real time in an emergency with minimal documentation. Paperless: While processing a digital loan application, you are not required to visit a physical branch for documentation. A 100% online process allows you to complete a loan application quickly.

Criteria Flexible Eligibility Criteria: Digital lenders keep their eligibility criteria simple. Inclusivity: The flexible eligibility criteria of digital lending services ensure that people from various financial backgrounds get inclusive support when they are in need.

Specifications Competitive Interest Rates: Digital lending platforms offer competitive interest rates. It differs from lender to lender. Also, you can get customised interest rates with a good credit profile. No Collateral Required: Often, digital lenders enable you to get quick loans without collateral. No collateral involvement becomes easy and time-saving at the same time.

Delivery Swift Processing: Digital lenders integrate advanced AI algorithms into their loan services, which enables a quick response to your loan application. Quick Loan Disbursal: Quick loan disbursal is one of the admired benefits you can get from digital lenders. Once you receive loan approval, it will only take seconds to see your loan disbursed directly into your bank account. Customer Support: Round-the-clock and real-time customer support ensures you get the right solution at the right time. Prioritising customers is second nature to digital lending platforms..

Conclusion

While digital loan applications can be accessed from anywhere and at any time, it is important to verify the lender’s legitimacy before proceeding with a loan application. Also, Lenditt is a digital personal loan app in India that provides genuine lending services and strictly adheres to guidelines set by the RBI.

Additionally, the curated financial products give you the freedom to choose what best suits your needs. You can get loans up to 2 Lakhs with a streamlined and user-friendly process.

Do check out our website for financial support.

Source Link: Digital Lenders are a Better Option for Personal Loan