Reverse mortgage loan is not a very popular product in India primarily due to low awareness about the product
According to the 20-10-4 rule, one should be able to foot 20% of the on-road price of the car as down payment while booking with 4-year payment plan
Credit bureaus are notified regarding loan closures by lending institutions, ensuring that there are no outstanding obligations in the borrower's name
The pandemic-hit FY21 has seen tepid growth for ARCs, but retail loan portfolio grew faster, adding at least 25% more to AUM
The situation may become challenging for surviving family members if the deceased has left an outstanding loan
Almost all banks are now offering this facility online and each lender has its own loan application process
This unsecured loan must be repaid within 60 months with a moratorium of 3 months
Phone loans are a form of consumer loans that help customers purchase a phone on EMI
Bank of Maharashtra has recorded a 13.45% increase in gross advances at Rs 1.07 lakh crore in 2020-21.
‘Car Loan’ is the most searched phase in India followed by ‘Home Loan’ and ‘Phone Loan’
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