Category Archives: Personal Loans

How has travel shaped over the past few years? After various lockdowns and social distancing during COVID times, travel has become a need for young individuals. With the advent of numerous travel influencers, many unexplored locations have caught the attention of the modern world. A lot of destinations within and outside India have gained tourists in recent days. Unlike earlier when people majorly traveled with their family or friends, these days solo travel has become a thing too. While earlier people used to travel for leisure and relaxation, these days travel has become more of a hustle with people bringing in more adventures and activities as a part of their itinerary. Moreover, the frequency of travel has increased too. While earlier people would take vacations only once or twice a year, it has become more of a monthly thing with a mix of long and short vacations. How has staying funded become a necessity for travelers? With the increasing urge to travel, be it in a group or solo, staying funded has become the need of the hour. There has been a major shift from the earlier days of saving for a vacation and traveling only when you have saved enough. Today travel has become more of a need in which they travel when they want and wherever they want to. There could be various reasons to travel only at a particular time and not delay it: It may be the peak season to go to a place where you’ve always wanted to go. You may want a break right away from your regular monotonous life. You may want to go with a group which is going only now and not later. You may have official leaves now which could be availed only now and not later. To suffice this any-time urgency of traveling, the cash crunch has become a major situation to deal with. In absence of major funds, you may be forced to lend some amount from your friends and family but that may not be the preferred route out of guilt. Getting funds from a trusted source becomes extremely important in such scenarios. One such source is the digital lending platform at Stashfin where you can get instant funds with lucrative repayment options. Why should you take a personal loan from Stashfin for your travel needs? Stashfin is one of the best digital lending platforms in India to get instant funds when you want them. Stashfin comes with various benefits which make it the perfect choice for instant travel loan needs. You can do a paperless application from where you are. Just download the app and apply in minutes. You can get a fund limit from ₹ 1,000 to ₹ 5,00,000 You can disburse only the amount you need from your approved limit. You can even disburse in smaller amounts as and when you need them. You pay interest only on the amount disbursed. You can choose from flexible tenure options of 3 to 36 months How to Apply to Stashfin? Stashfin follows an easy application process with which you can get your desired credit amount in just minutes. Visit www.Stashfin.com or download Stashfin app. Fill in your basic details and click on proceed. Verify OTP. Fill in mandatory personal and professional fields. Upload your bank statement and other required documents. You will be informed when your loan is approved along with details related to interest rate and tenure. Given the surge in demand, consumers must keep the below things in mind while choosing their preferred brand for taking instant funds. Check your eligibility and the need There are Fintech players such as Stashfin that can help you with the right amount of funds that will cater to your needs which traditional banking players may not be able owing to their underwriting capabilities and the way they are able to scale up very quickly given the demand for the season. Keep your credit score high The importance of a good credit score goes up even more. Based on your credit scores, your eligibility and rate of interest will be decided. Therefore, it’s a good idea to check your credit score regularly. Also, make sure that you pay EMIs on time. Beware of frauds Don’t fall for debt trap or share your personal details such as CVV/OTP or click on any suspicious links as certain fake apps also get very active during this period Check all T&Cs and charges when taking a personal loan It’s important to read all the documents carefully to ensure that there are no hidden charges in the loan that you are borrowing. Check the background of the fintech players It’s important to check the background of the apps and take personal loans only from RBI-regulated entities so the processes are seamless. Given the surge in the demand, players like Stashfin have exclusive offers and benefits for their consumers such as Instant funds up to ₹ 5 lakhs, direct bank transfers, attractive interest rates, instant approvals, quick process, which is completely digital, exclusive rewards. To apply for a Stashfin loan, you can download the app here Stashfin – Credit Line & Funds – Apps on Google Play or apply on the website Stashfin.

Personal loans for Home Renovation are sought by applicants who want to improve/repair/upgrade their homes in various ways such as flooring, painting, tiling, upgradation, remodeling, repair, improvement, extension etc. Fintech brands offer instant solutions for a such loan or credit requirements in a very seamless and easy manner. Setting up your home can be a very expensive task and sometimes you can go over budget in making your dream house through furnishing or through interior designs. Most people go for personal loans in-order to make their dream homes a reality. This is in addition to the home loan they would have availed in buying the house. For any personal loan requirement from a home renovation perspective, Stashfin's instant personal or credit line comes in very handy as it offers the following benefits: - A credit limit upto ₹5,00,000 - Flexible Tenure Options upto 36 months - Instant Funds Across Needs - Interest only on the amount utilized Loans range from ₹1000 to ₹5,00,000 with repayment periods starting from 3 months to 36 months. We offer interest rates ranging from 11.99% - 59.99% APR (Annual Percentage Rate), however, rates may vary from case to case. All loans are paid through Equal Monthly Instalments (EMIs) via electronic payment. Given the surge in demand during the festive season, consumers must keep the below things in mind while choosing their preferred brand for taking instant funds. Check your eligibility and the need There are fintech players such as Stashfin that can help you with the right amount of funds that will cater to your needs which traditional banking players may not be able owing to their underwriting capabilities and the way they are able to scale up very quickly given the demand for the season. Keep your credit score high The importance of a good credit score goes up even more. Based on your credit scores, your eligibility and rate of interest will be decided. Therefore, it’s a good idea to check your credit score regularly. Also, make sure that you pay EMIs on time. Beware of frauds Don’t fall for debt trap or share your personal details such as CVV/OTP or click on any suspicious links as certain fake apps also get very active during this period Check all T&Cs and charges when taking a personal loan It’s important to read all the documents carefully to ensure that there are no hidden charges in the loan that you are borrowing. Check the background of the fintech players It’s important to check the background of the apps and take personal loans only from RBI-regulated entities so the processes are seamless. Given the surge in the demand, players like Stashfin have exclusive offers and benefits for their consumers such as Instant funds up to Rs. 5 lacs, direct bank transfers, attractive interest rates, instant approvals, quick process, which is completely digital, exclusive rewards. To apply for a Stashfin loan, you can download the app here Stashfin – Credit Line & Funds – Apps on Google Play or apply on the website Stashfin

Enjoy the power of instant money with Stashfin - India's fastest, easiest, safest, and smartest Credit Line and Instant loan App. Stashfin is powered by Akara Capital Advisors Private Limited, an NBFC duly registered with Reserve Bank of India (RBI). With its quick and easy application process, the Stashfin Instant loan app lets you enjoy a credit line of up to ₹10,00,000 at low-interest rates and flexible repayment plans that are best suited to your needs. ✔ Credit Line ✔ Pay interest only on the funds you need ✔ Credit line ranging from ₹1,000 to ₹5,00,000 straight to your bank account ✔ Repayment period: 3 to 36 months ✔ Minimum documentation, instant approval, and quick disbursal We also provide funds as low as ₹1,000 to ₹5,00,000 and are operational across India. In matters of funds, one size doesn’t fit all and we offer you the choice of picking a credit line best suited to your needs and help you take control of your finances. We offer interest rates ranging from 9.99% - 35.99% APR (Annual Percentage Rate), the rates may vary on a case-to-case basis. A low processing fee is charged in certain cases and there are no hidden costs. Example: Amount: ₹10,000 Tenure: 3 months Rate of Interest: 11.99% p.a. Processing Fee: ₹0 Total Interest: ₹167 EMI: ₹3389 APR: 11.99% Amount Disbursed: ₹10,000 Total Repayment Amount: ₹10,167 Sample Monthly EMI with Sample Principal and Interest EMI Principal Interest ₹3389 ₹3305.74 ₹83.25 ₹3389 ₹3333.26 ₹55.73 ₹3389 ₹3361.01 ₹27.98 How does Stashfin App Work? Download the Stashfin App and register Fill in your details and upload verification documents Once verified the final application status can be checked on the App. You will also be notified of your approval status via SMS Once approved, E-sign the loan agreement and the approved amount will be disbursed to you within 5 minutes. SMS notification will be sent to your registered number notifying the same Eligibility Criteria ✔ Indian Citizen ✔ Above the age of 18 ✔ Must have a source of income (either salaried or self-employed) Documents Required Address Proof (any one of Aadhaar Card/Voter ID/Passport/Driving License) Identity Proof (PAN ID) In some cases, you may be asked for the following documents Bank Statement ITR/ GST Paper Operational across India Delhi NCR (Delhi, New Delhi, Noida, Greater Noida, Faridabad, Ghaziabad, Gurgaon), Mumbai, Thane, Pune, Hyderabad, Chennai, Bangalore, Indore, Chandigarh, Panchkula, Pithampur, Bhiwandi, Zirakpur, Kharar, Kolkata, Jaipur, Udaipur, and more. Given the surge in the demand, players like Stashfin have exclusive offers and benefits for their consumers such as Instant funds up to Rs. 5 lacs, direct bank transfers, attractive interest rates, instant approvals, quick process, which is completely digital, exclusive rewards. To apply for a Stashfin loan, you can download the app here Stashfin – Credit Line & Funds – Apps on Google Play or here Stashfin iOS App or apply on the website Stashfin

The festive season in India usually starts around October with various festivals including Navratri, Dussehra, Durga Puja, Dhanteras Diwali, Eid, and Gurpurab, and continues till December culminating with Christmas and New Year Celebrations. Diwali is one of the most important festivals in India that consumers associate with shopping, gifting, homecoming, apparel among many other festivities. During this period, consumer spending goes up and so does the demand for funds. Many top brands, and e-commerce players such as Amazon, Flipkart, Myntra, JioMart, Bigbasket, Shoppersstop, and Croma among others come up with various festival sales such as Amazon Great India Festival, Flipkart Big billion days that encourage consumers to shop more. Consumer spending goes up across segments such as housing, automobile, apparel, consumer durables, dining and traveling. This is also followed with the wedding season when the consumer's shop even more to drive overall consumer spending. Given a surge in demand, the need for instant funds also goes up and a lot of consumers look for personal loans to cater to their needs. Some of the top reasons for taking personal loans during the festive season include Traveling to their homes Wedding in the family New vehicles Consumer durables House upgrade Home Improvement Shopping for gadgets Gifting Vacation Given the surge in demand, consumers must keep the below things in mind while choosing their preferred brand for taking instant funds. Check your eligibility and the need There are fintech players such as Stashfin that can help you with the right amount of funds that will cater to your needs which traditional banking players may not be able owing to their underwriting capabilities and the way they are able to scale up very quickly given the demand for the season. Keep your credit score high The importance of a good credit score goes up even more. Based on your credit scores, your eligibility and rate of interest will be decided. Therefore, it’s a good idea to check your credit score regularly. Also, make sure that you pay EMIs on time. Beware of frauds Don’t fall for debt trap or share your personal details such as CVV/OTP or click on any suspicious links as certain fake apps also get very active during this period Check all T&Cs and charges when taking a personal loan It’s important to read all the documents carefully to ensure that there are no hidden charges in the loan that you are borrowing. Check the background of the fintech players It’s important to check the background of the apps and take personal loans only from RBI-regulated entities so the processes are seamless. Given the surge in the demand, players like Stashfin have exclusive offers and benefits for their consumers such as Instant funds up to Rs. 5 lacs, direct bank transfers, attractive interest rates, instant approvals, quick process, which is completely digital, exclusive rewards. To apply for a Stashfin loan, you can download the app here Stashfin - Credit Line & Funds - Apps on Google Play or apply on the website Stashfin

People take personal loans for multiple reasons. While personal loans may not always be planned, it helps that the application process is simple, the amount is disbursed quickly, and there’s no need to be concerned with providing any collateral to get such a loan. Now, with every loan comes its corresponding EMI. It’s only natural that when we take a personal loan, we are expected to return the amount within a stipulated time period. Depending on the amount of the EMI due, one may have to ensure that these are paid on time, and they have enough money during the month for other necessary expenses. Choose a loan amount that best suits your requirements When you’re aware of your financial situation, different financial commitments, you will know how large a loan you actually require. Since personal loan EMIs are dependent on the amount you borrow, you will need to ensure that this is something you will be able to repay without causing a further strain on your resources. Pay your loan EMIs on time There is nothing more important than repaying your EMIs within the stipulated time period. Not only will missing payments put a bigger burden on your financial situation, but it may also adversely affect your credit score. This will in turn damage your future loan and credit card prospects. Rework the loan tenure When you take a loan, you can decide what tenure works for us best. If the loan tenure is long, then while the EMI may well be of a lower amount, you may end up paying more money as interest. This may not be the case when you take shorter duration loans. Therefore, think carefully about your current financial situation, take a look at your monthly budget, and then decide the tenure that will fit these requirements. Look before you leap It’s one thing to immediately want to meet your financial requirements. It’s quite another to not be completely aware of the nitty-gritty of such transactions. Always be aware that you’re dealing with borrowed money and this is a legal agreement you’ve entered into. Therefore, be fully aware of the document you’re signing. Are there any hidden charges? Will you end up paying a higher EMI than what you were told? Always read the entire agreement properly so as not to be surprised later. Consolidate your loans It’s possible that depending on your current financial situation, you end up taking multiple personal loans, which have their own repayment tenures and EMI amounts. Try not to get stuck into a debt trap to meet your different requirements. Opt for consolidating your separate loans into one – not only will this be easier to track, you would be able to manage your debt in a better fashion.

One of the key factors of healthy financial habits is to keep track of your debts and to repay them in full and on time. Doing this impacts your credit score and determines whether lenders will perceive you as a reliable borrower, and find you eligible for greater loans for different purposes, and for issuing credit cards. However, even after being cautious with how we spend and save, there may be occasions, such as a medical emergency or other pressing financial circumstance, when we’re compelled to either max out our credit card, or we take on additional loans, and from multiple lenders. And in case we’re unable to repay our debts in full, our credit score is likely to get dented. Debt Consolidation is the Solution While owing debt to multiple lenders is not really a recommended nor easy situation, one solution for this is to consolidate all your debts. Essentially, this would mean that you take one loan to repay all of the debts that you owe, and then focus on repaying this one loan. 4 Smart Ways to Consolidate Debt Repay your consolidation loan on time: The idea behind taking a debt consolidation loan should not be to default on that too. Such a loan will help you be back on the track to financial stability. Cut down any unnecessary expenses, begin to save more, try to go up from paying the bare minimum due each month to the full amount due each month. This way, your interest won’t rise, and it will be easier for you to clear out your debts. Dip into your emergency savings: Your emergency fund can be put to prudent use when you’re stuck in a financial rut. Whether Public Provident Fund, National Savings Certificate, bonds and securities – either of these could help you in your debt consolidation plan without seriously impacting your credit score. Don’t close old accounts: Just because you took a debt consolidation loan does not mean that once you’ve cleared your debt, you need to close off your earlier accounts or your credit card account. This can adversely impact your credit score because you had worked towards building credit with your earlier account. Closing that would mean you’ll have to start over, and that’s not always an easy place to be in. Reframe your entire budget: A financial introspection may be effective in such cases, where you redraw your expenses and create a budget that’s practical and will help you see through your time of debt.

Personal loans aren’t always planned. Unlike a vehicle, education or home loan, personal loans don’t usually feature in an individual’s plans. However, when the time arrives for someone to take a personal loan, usual factors determine their eligibility. Therefore, it helps to have a stable and healthy financial history, so such personal loan applications aren’t rejected. Common Reasons for Personal Loan Rejection Low credit score   Every financial advisor will tell you that having a good credit score is paramount to securing funds or a credit card. If your credit report doesn’t reflect your creditworthiness, then a personal loan application may get rejected. A good credit score is anything above 750. Therefore, if your credit score is much lower, say in the 400-600 range, a rejection is quite possible. To counter this, it would help to work towards building your credit score and taking it above 700. Curb your expenses and save more. Repay any debts you might have on time and pay them in full instead of the minimum due. Inconsistent income  If you’re an individual who tends to keep shifting jobs or are self-employed, there may be a possibility that your personal loan gets rejected. This is because lenders prefer someone who is stable with their job and can prove that they have a credible source of income, even if this income is passive. Lenders need to know that they will get back the amount they’ve loaned. To counter this, try to stick to one job for a few years and maintain a consistent employment record; if you’re an independent writer, editor, or any other self-employed person, try to see that you’ve been independent for a few years and have the ability to repay debts. Incomplete or incorrect information in loan application or credit report There must be a consistency in the information you submit on the loan application form as well as your credit report. For instance, any change in your name or address must be reflected in your forms. Even mistakes in your PAN card details can lead to your personal loan application getting rejected. To counter this, do a due diligence of all the documents that you submit. Update any change in name or address immediately, and then apply for a loan. Current loan portfolio  If you’ve taken a few loans already, lenders would like to see whether you’ve been clearing your dues consistently. Don’t bite off more than you can chew. The existence of multiple existing loans may tell a lender that you might be in a financially tight position, and thus, unable to repay the personal loan. To counter this, keep your monthly EMIs as low as possible and close off as many loans as you can. Another option could be to consider a debt consolidation loan, which will combine all your existing loans into one single loan, thereby making it simpler to track your payments and even get a lower rate of interest.

As we’ve often maintained, personal loans aren’t always planned, and it helps to have a healthy financial record so that your personal loan application is not rejected. One of the many benefits of a personal loan is that the application process is quick and easy, the amount is disbursed in a swift manner, and you don’t have to worry about providing any collateral to get the loan. At the same time, the absence of collateral can lead to higher rates of interest. Despite the ease of a personal loan application, it is money that you’re borrowing and one that you need to return within a certain period. Therefore, you’ll have to keep certain factors in mind when deciding the personal loan tenure. Measure your monthly budget Borrow only what you know you’ll be able to afford and eventually return. It’s possible that you own a credit card and another loan, possibly a home loan or a vehicle loan. Therefore, you’re anyway going to have some loan EMIs to pay off. Choose a personal loan tenure that won’t dent any of your existing EMI plans. Ensure that your personal loan tenure doesn’t adversely affect your financial situation or dent your emergency fund. Personal Loan tenure and amount   Choose a loan tenure and amount that you can afford. Based on the amount you borrow and the time period you choose to return it, you’ll come to the EMI you’re supposed to pay. Know that a longer tenure may mean a smaller EMI, but it could also mean a higher interest rate. Therefore, be very careful of how much exactly you will have to shell out eventually. In addition, when going through the terms and conditions of such a financial transaction, find out if there are there any foreclosure charges, and how expensive that can get, how will foreclosing your loan impact your credit score, and how financially prudent is it really to foreclose your loan at the time you choose to. Some lenders also offer customised personal loans where users pay only for the amount that they actually use – find out about such lenders and choose your tenure and amount accordingly. Healthy credit score  This three-digit number ranging from 300 to 900 is a determining factor for whether you can even qualify for a personal loan, and once you do, how much interest you will end up paying. As always, a higher credit score, upwards of 750 deems you reliable and may encourage a lender to lend you money at a reasonable rate of interest. Therefore, keep checking your credit report and note any negative change in your score to take immediate corrective action. Reasonable rate of interest If you’ve been a practitioner of healthy financial habits, chances are you have a good credit score and are in good books of lenders. If you have a good repayment history, lenders will look at you as a reliable borrower. When going for a personal loan tenure, be aware of the rate of interest on your loan – it shouldn’t end up exceeding the original loan amount. Longer loan tenures aren’t necessarily conducive for you may end up paying higher interest. Shorter tenures will mean your EMI will be slightly steeper, but the rate of interest may well be within reasonable range. Thorough due diligence Again, because it’s borrowed money that you will eventually repay with interest, it is absolutely necessary to see that the lender is an RBI-approved and regulated entity. Try not going for the first lender you come across, despite the ease of approval and repayment. Do basic market research, because it’s not the best idea to have to not get any loan amount when you need it the most because the lender was bogus, or end up getting caught in a debt trap. When one is in severe need of money, it’s easy to forget to keep track of one’s budget. As a result, there can be situations where people take loans to repay their existing loans. Do not fall into such a debt trap, which is likely to negatively impact your financial situation.

StashFin provides a credit limit of up to Rs. 5,00,000. The loan amount can be repaid in flexible EMI tenures ranging from 3 to 36 months.

A personal loan is a type of unsecured loan that requires no collateral. It can be used to cover various financial expenses like education, travel, etc.