Blogs

Your official source for paisaone news and updates

GST Registration in India: Complete Guide and Process

GST Registration in India: Complete Guide and Process

GST registration is required for eligible businesses and taxpayers under India's Goods and Services Tax system. Learn how to apply for GST registration, required documents, download the GST registration certificate and cancel your registration.
Modular Kitchen Cost in India 2026: How to Spot an Overpriced Quote
FinanceAugust 11, 2026

Modular Kitchen Cost in India 2026: How to Spot an Overpriced Quote

Planning a modular kitchen? Learn about modular kitchen costs in India, including low-cost options, L-shaped kitchen designs, materials, size, finishes, accessories, and installation charges. This guide also explains how to calculate the estimated cost of a modular kitchen.
Bali Trip Cost from India 2026: Budget, Mid-Range and Luxury
FinanceAugust 10, 2026

Bali Trip Cost from India 2026: Budget, Mid-Range and Luxury

Planning a Bali trip from India? Explore the estimated cost of flights, accommodation, food, local transport, sightseeing and activities. This guide covers Bali trip costs for solo travellers, couples and families, helping you plan your budget and understand the expenses involved.
Best Country to Study Abroad for Indian Students 2026
LoansAugust 7, 2026

Best Country to Study Abroad for Indian Students 2026

Choosing the best country to study abroad depends on factors such as tuition fees, living expenses, university quality, scholarships, visa requirements, work opportunities, and career prospects. This guide compares popular study abroad destinations for Indian students after 12th and graduation to help you choose a country that matches your education and career goals.
LASIK Eye Surgery Cost in India 2026: How to Finance It
LoansAugust 6, 2026

LASIK Eye Surgery Cost in India 2026: How to Finance It

LASIK eye surgery is a popular vision correction procedure that reduces dependence on glasses and contact lenses. This guide explains LASIK surgery cost in India, the factors that influence pricing, eligibility criteria, procedure details, recovery time, and available financing options to help you make an informed decision.
Digital Gold in India 2026: How to Buy It Right
FinanceAugust 5, 2026

Digital Gold in India 2026: How to Buy It Right

Digital gold lets you buy, sell, and store 24K gold online without physically holding it. This guide explains what digital gold is, how it works, how to invest in it safely, its benefits and risks, SEBI-related considerations, and the best ways to buy digital gold in India for investment or savings.
Health Insurance Waiting Period in India 2026: What to Do During the Gap
InsuranceAugust 1, 2026

Health Insurance Waiting Period in India 2026: What to Do During the Gap

A health insurance waiting period is the time you must wait before certain policy benefits become available. This guide explains the different types of waiting periods, including initial waiting periods, pre-existing disease (PED) waiting periods, maternity coverage, and zero waiting period health insurance plans, helping you choose the right policy for your healthcare needs.
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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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