Personal Loan India

1
Personal Loan India
2

• Opting for a personal loan? Then, there is great
  need to take an overview of its services and
  terms conditions. Either if you get stuck in a
  debt of personal loan, there are some techniques
  that you can follow to relieve yourself from
  debt. These techniques include

3
Monetizing Assets

• If you own assets like Life Insurance Policies,
  Tax Saving Certificates, Car, Home, Shares, Bonds
  Debentures, Bank Fixed Deposits, Mutual Funds
  and gold jewelry etc. Then, you can monetize
  these assets to pay off your debt. As there are
  many banks that offer loan against assets which
  carries a low interest rates. It could set you
  free from your personal loan.

4
Debt Consolidation

• Debt Consolidation is also a good option to
  consider for your Debt settlement. This is a
  method when you could pay your debt at lower and
  fixed interest rates. Moreover, it offers lesser
  monthly installments. Basically, what Debt
  Consolidation overall about is that in this
  method, all the existing debts of a customer are
  combined to form a single personal loan. A
  consolidation agency looks over this whole
  process. Then, the agency pays off all the
  existing loans of a customer and the customer
  just needs to pay that single debt amount.

5
Convert your loan to a secured loan

• You can convert your home or vehicles loan to a
  secured personal loan but only on one condition,
  if your property is free from debts. As there are
  many benefits of a secured personal loan India
  like it offers lower credit costs, you can use
  secured personal loan for a higher amount of
  money and it also offers interests at better
  rates.

6
Personal Loan In India
7

• Despite many benefits, it also has some drawbacks
  like the customer have to make regular
  installments and if the one do not pay these
  installments on time, then the lender can even
  sell your property. The other drawback is that
  you could land yourself into serious financial
  problems, if you face money losses like job loss,
  illness or other. So, it's better that you could
  opt for this option only if you have some sort of
  income protection.

8
Evaluation of other options in financial market

• You can look up for other products like you can
  do monetization of your assets, sells your
  shares, bonds or debentures. Also, the premature
  closing of your fixed deposits could be of great
  help. The best way to get funds is from the banks
  that you use to credit your salary. As the bank
  knows your track record, your income or
  withdrawal transactions, the banks proves to be a
  better option before you for a secured personal
  loan. Probably, they offer you the lower rates of
  interest.

9
Source http//www.sooperarticles.com/finance-arti
cles/loans-articles/personal-loan-india-856117.htm
l
http//www.facebook.com/idbibank
https//plus.google.com/IDBIBank
https//in.linkedin.com/company/idbi-bank
http//www.twitter.com/idbi_bank
http//www.youtube.com/idbibank

• Thank You!