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Credit Card Interest-Free Period: How Billing Cycle, Statement Date and Due Date Work

Credit Card Interest-Free Period: How Billing Cycle, Statement Date and Due Date Work

Understand how your credit card’s interest-free period works, how purchase dates affect the number of interest-free days, and why paying the full outstanding balance by the due date matters.
Visa, RuPay and Mastercard: What Card Networks Are and How They Differ
Credit CardOctober 22, 2026

Visa, RuPay and Mastercard: What Card Networks Are and How They Differ

Visa, RuPay and Mastercard are payment networks that process debit and credit card transactions. Learn how they differ in domestic and international acceptance, UPI compatibility, security features and benefits, and find out which card network best suits your spending habits.
Best Credit Score Apps in India (2026): Which One Should You Use?
Credit ScoreSeptember 25, 2026

Best Credit Score Apps in India (2026): Which One Should You Use?

Looking for the best credit score app? Compare the top apps in India to check your CIBIL score and credit report for free. This guide covers features, accuracy, score tracking, personalized insights, and how to choose the right app for monitoring your credit health.
How to Check CIBIL Score by PAN Card in 5 Minutes, Complete Guide
Cibil scoreSeptember 23, 2026

How to Check CIBIL Score by PAN Card in 5 Minutes, Complete Guide

Want to check your CIBIL score using your PAN card? This guide explains how to check your CIBIL score by PAN card for free through official online methods. Learn the required details, step-by-step process, eligibility, and how to access your CIBIL report securely before applying for loans or credit cards.
Different Types of Personal Loans Explained, Which One Suits You?
LoansSeptember 22, 2026

Different Types of Personal Loans Explained, Which One Suits You?

Personal loans are available for a wide range of financial needs, from weddings and medical emergencies to travel, education and debt consolidation. This guide explains the different types of personal loans, their common use cases, eligibility and how to choose the right loan based on your financial goals.
What Is a Personal Loan? A Complete Beginner's Guide for 2026
LoansSeptember 21, 2026

What Is a Personal Loan? A Complete Beginner's Guide for 2026

A personal loan is an unsecured loan that can be used for weddings, medical emergencies, travel, home renovation and other personal expenses. Learn how personal loans work, interest rates, eligibility criteria, repayment terms, CIBIL score requirements and when taking a personal loan makes financial sense.
How to Change Name in Aadhaar Card (2026): Steps and Documents
FinanceSeptember 18, 2026

How to Change Name in Aadhaar Card (2026): Steps and Documents

Need to update your name in Aadhaar? Learn how to change your name online through the myAadhaar portal or offline at an Aadhaar Seva Kendra. This guide covers the UIDAI name correction process, required documents, fees, eligibility, and how to track your Aadhaar name update status.
Aadhaar Address Update 2026: Online, Offline, HOF Route
FinanceSeptember 17, 2026

Aadhaar Address Update 2026: Online, Offline, HOF Route

Need to update your Aadhaar address? Learn how to change your address online through the myAadhaar portal or offline at an Aadhaar Seva Kendra. This guide covers eligibility, required documents, fees, address change form, and how to track your Aadhaar address update status.
How to Update Your Aadhaar Card in 2026: Complete Step-by-Step Guide
FinanceSeptember 16, 2026

How to Update Your Aadhaar Card in 2026: Complete Step-by-Step Guide

Learn how to update your Aadhaar card through the UIDAI myAadhaar portal or an Aadhaar Seva Kendra. This step-by-step guide covers address, name, mobile number, date of birth and biometric updates, along with the required documents, fees and how to track your Aadhaar update status.
How to Check PF Balance in 2026: Step-by-Step Guide
BankingSeptember 10, 2026

How to Check PF Balance in 2026: Step-by-Step Guide

Learn how to check your PF balance online using the EPFO portal, UMANG app, SMS and mobile. This step-by-step guide explains every official method to view your EPF account balance quickly and securely.

Frequently Asked Questions

Get answers to common questions about personal loans

The maximum loan amount depends on your monthly income. In India, some lenders offer loans up to Rs 1 crore.

If you receive extra funds, you can pay them toward your loan before your EMIs are due. This is called prepayment. Each prepayment reduces your outstanding principal.

Most banks require a CIBIL score above 720 to approve a personal loan. If your score is lower, your application may be rejected or approved at a higher interest rate.

A personal loan is designed to meet immediate financial needs, such as travel, marriage, purchasing appliances, or other expenses. You can compare loan options from different banks and apply for the one that best suits your requirements.

When you apply for a personal loan, the lender reviews and approves your application. The approved amount is then disbursed to your bank account. You repay the loan through EMIs over the agreed tenure.

If your personal loan application is rejected, it is usually due to a low credit score or not meeting eligibility criteria. Improving your credit score and meeting the criteria can increase your chances of approval.

A personal loan can be used for holidays, starting a small business, purchasing consumer goods or a vehicle, paying friends or family, covering medical bills, or consolidating debt.

A pre-approved loan allows existing customers with a strong repayment record to apply without submitting documents or undergoing verification, due to their established relationship with the bank.

This depends on your lender. Some lenders charge you a fixed fee per prepayment, while others charge a percentage of the outstanding or prepaid amount.

Yes, lenders have specific terms for personal loan foreclosures. Typically, pre-closure is allowed after 12 EMIs, with a foreclosure charge and GST applied to the outstanding amount.

Minimum salary requirements vary by lender. Most require at least Rs 15,000 per month, while those in metropolitan cities may need to earn between Rs 20,000 and Rs 25,000.

Most lenders allow pre-payments or pre-closure during the loan term, usually after one year. A nominal fee may apply. Inform your lender if you wish to prepay or pre-close your loan.

Some lenders charge a fee for partial prepayment, while others may waive the fee or not charge for prepayment.

A bank can reject your personal loan application if you apply for a loan for which you are not eligible. It can also reject your application if you fail to submit the documents it requires.

Paisaone provides a tracking tool via email and SMS, allowing applicants to receive daily updates on their loan application status.

If you miss an EMI payment, the bank charges penal interest on the overdue amount, typically 2% to 3% per month.

It could be hard to get a traditional personal loan from a bank with a poor credit score and no checking account. However, certain lenders offer types of personal loans, such as payday loans, for those with a poor credit score. That said, the interest charged will be quite high.

Over your EMI, after a certain period following the disbursement of the loan, you can make a part-payment towards the loan. After a certain period, you can make part-payments in addition to your EMI. These payments reduce your outstanding principal.

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