Everything you should know in the world of Finance

When planning to buy a bike and you don’t have enough money saved up, getting a bike loan is a common solution. However, it’s essential to understand that the amount you pay back is not just the bike's price but includes interest. The interest rate is the extra percentage you pay to the financial institution for borrowing the money.

Different factors determine the interest rate you get on your bike loan, and knowing these factors can help you make better and more informed decisions and possibly save money. So, let’s explore those factors to understand bike loan interest rate:

Have you considered opting for a gold loan to access quick funds? You're not alone. Gold loans are becoming popular collateral-based loans in India. By pledging gold jewellery, you can secure a loan amount to meet various needs, from funding your child's education to managing unexpected expenses, all with the advantage of extended loan tenure. However, to make your application process smooth and hassle-free, it's important to have the right documents ready.

This gold loan documents list will guide you through the essential paperwork required to apply for a gold loan in India.

Are you considering renovating or remodelling your home? Whether it's a kitchen upgrade, bathroom remodel, or adding an extension, home renovations allow you to customise your house to suit your lifestyle and needs. However, these projects can be expensive. A personal loan is one way to finance your house renovations while avoiding the need to tap into your savings or put renovations on high-interest credit cards. Read on to understand how to get a personal loan for home renovation smoothly.

The role of a robust credit history is undeniable when it comes to applying for two-wheeler loans. A good credit score for bike loan enhances your chances of approval and competitive interest rates. Generally, most financial institutions prefer a credit score of 650* or above to approve such loans. A higher score reflects financial stability and responsible credit behaviour, which can help you secure better loan terms.

For most Indians, gold holds a special significance. Gold symbolises prosperity and is integral to traditions and rituals for us Indians. No wedding, festival or celebration is complete without the glam of gold.

Your credit score plays a crucial role when you apply for a personal loan. It gives financial institutions an idea of your creditworthiness and repayment capacity. If you have a low credit score, your chances of getting a personal loan approved become low.

On that note, let's understand how a credit score on personal loan impacts your eligibility and the steps you can take to improve your score.

A bike loan can be a convenient way to finance your purchase, but it also comes with the risk of encountering fraudulent creditors. Scammers often use attractive offers or misleading terms to lure borrowers, potentially leading to financial loss or identity theft. That’s why it is crucial to recognise warning signs to protect yourself, such as demands for upfront fees, lack of transparency, etc.

Gold loans have seen a surge in popularity in recent times. With job losses and pay cuts during the pandemic, many Indians have turned to gold loans to meet urgent financial needs. Gold loans allow you to leverage your idle gold jewellery and coins to get access to funds quickly.