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In India, most of the lenders believe that offering a loan to the applicants with good credit score and regular earnings is risk free but the recent Coronavirus Outbreak has slowdown the economy, reducing the employment opportunities and shattering businesses which have lead to increase the number of loan defaulters in country. People " Apply For Loan " to fulfill their financial needs regarding business, home, studies and many more. Nowadays, it’s common to hear out about the defaults due to delays in salaries, business downturn as well as job loss. There are so many consequences linked to the loan defaults as it can charge the borrower penalties, dropdown in credit score, risks the ownership of collateral and it gets harder for applicant to qualify for future credit. In this blog post, we have listed some of the top reasons behind loan defaults these days. Late Salary: It is one of the most common reason which accounts for 40% of loan defaults in the country. Whether you

Nowadays, there is a wide range of secured and unsecured types of loans offered by various financial as well as lending institutions which can be avail against your credit worthiness and personal or professional asset. The loan money can be used to fulfill your different business and personal requirements which include capital needs, fulfilling medical emergencies, purchasing a home or vehicle as well as planning wedding etc. The secured loans such as Home Loan, Loan against Property and Gold Loan are very popular as they are offered on lower rate of interest because they demand collateral while you " Apply For Loan " as well as they can be obtained easily without any rejection. One of the significant factors to look after other than rate of interest is loan tenure that really impacts your borrowing capacity. Well, the question that keep hitting your mind before availing a loan should be the ideal tenure for your loan repayment or which loan term you should avail whether lon

Nowadays, the demand for the need of financial support as in loans is rising in the varied aspects of life. There are number of times when a person may be in need of financial aid to buy a home, business expansion, to pay educational fee, having a medical emergency or in a situation of financial crunch. With the help of digitalization, every individual has an access to different types of loans and can " Apply For Loan " with a single click during the times of needs. There are two categories of loans that cover your every need such as secured and unsecured types of loans where you have to pledge your personal asset for secured and no security against unsecured loans. There is no restriction on the end use of some loans such as Personal Loan, Loan against Property, Gold Loan etc. whereas some loans are specifically designed for particular needs like Home Loan, Business Loan, and Used Car Loan etc. One can use different types of loan for different purposes which are mentioned b