Loans

The Coronavirus pandemic has caused major financial distress among borrowers. In such extraordinary times, banks such as ICICI Bank continue to stand by their customers and offer help to those impacted by this pandemic.

The COVID pandemic has affected the lives of people in more ways than one. As part of the relief measures for borrowers, RBI announced a loan restructuring scheme on August 6, 2020. The primary objective of the central bank is to ease the financial stress due to the COVID -19 pandemic.

Inflation is ever increasing and this affects an individual’s capability to accumulate savings. As prices of necessities continue to rise, we spend more with every passing day. Transport, education, daily essentials etc. are all getting pricey as compared to a few years ago.

Societies tend to carry myths like differently-abled individuals are incapable of working and therefore employers also sometimes overlook them. Starting a business venture is one of the healthy alternatives for them.

Agricultural loans are provided to farmers, sharecroppers, joint cultivation units, self-help groups and others engaged in agriculture and other activities related to agriculture. Agriculture loans can be either secured or unsecured, depending on the loan type and lending institution.

A business requires loans for different purposes such as managing working capital needs, expansion and infrastructure expenditure, investment in systems and equipment, etc. These requirements could mean large amounts of money and the business must ensure that the cost of capital is affordable and practical.

Banks in India provide various schemes for education loans and students can make the most of these depending on the institute and course of study selected. Most of these have flexible repayment options thereby allowing the student to plan his finances.

Agricultural loans are offered to farmers and can be used for various purposes such as purchasing land, tools and equipment, machinery, seeds, investing in farm maintenance, crop insurance, etc. Farming is a seasonal activity and farmers require financial support to help them sail through periods of no activity.

We Indians have always loved two-wheelers - be it for commutes, racing, long drives or just for recreation. Sales of bikes have always been strong as compared to other vehicle segments. However, despite their popularity, two-wheelers are not always easily affordable. Some of the bike variants available in India can burn a hole in one’s pocket. This is the reason why a lot of people opt for a two-wheeler loan.

The RBI recently announced that it would allow a one-time restructuring of loans across all sectors. This move has been hailed as a much-needed lifeline for borrowers struggling to repay their EMIs due to the economic fallout of the Covid-19 pandemic.

Personal loans come in the form of short- or medium-term loans that are mostly unsecured since they do not require any security at the time of disbursal. They are usually dispersed within a few hours or sometimes a few days and require minimal paperwork

Gold loan is a preferred option within the secured loan category since an applicant can get instant funds by keeping their gold jewellery as collateral. It allows people to use their gold ornaments, which otherwise would have been kept away in a locker, lying idle.

A few years ago, before the advent of digital banking, availing a loan was a lengthy, complicated and time-consuming process. Not anymore! Thanks to the rise in the number of lenders – banks, NBFCs, and digital lenders, securing a loan is faster than ever before.

An education loan is a huge boon for students looking to pursue higher education in prestigious institutions in India or overseas. With the cost of higher education increasing year-on-year, it's becoming challenging for parents to fund their child's higher education using their savings.

India is considered to be a truly emerging market in the world at the moment. A major part of this growth is fuelled by the micro, small and medium enterprises of the country. The SME sector contributes over 40% of the total GDP and remains a critical source of employment for India’s growing population.

Are poor credit scores holding you back from purchasing your dream car? Check out expert tips on how you can get an auto loan even with low credit scores.

You have spent months researching different car models and brands to find the perfect car for you and your family. You're so excited to finally own your dream vehicle. You locate the nearest dealer, take the car for a test drive, and are ready to take the plunge into car ownership.

Medical emergencies, sudden unexpected expenses on the personal front, or cash shortages – can affect all of us at any time. During these challenging times, raising cash immediately becomes a huge struggle for all.

Are you looking to start your dream business? Or are you in need of working capital to expand your current venture? Or do you want funds to give your daughter a lavish wedding?

Short-term loans are generally extended by financial institutions for 1-2 years. These are mostly unsecured, which means you don’t have to pledge collateral as security to avail them. Though funds can be extended quickly, the reason why they are labelled “short-term” is the associated repayment tenor (to be paid off in full within 6-18 months) rather than the speed of funding.

You have tried every possible way to repay your loan EMIs on time. In spite of your best efforts, a job loss, pay cuts, illness in the family, your loan repayments may go off the track. There may be situations where due to an unexpected financial crisis, you have fallen behind on your loan payments.