Smart Ways to Pay of Your debts Before 30

Let’s face it - no one enjoys being financially burdened by loans and debts that take up so much of our paychecks each month. Every time you take up a new loan, you are faced with more debts to pay, so less flexibility on your available cash, and more stress.

Below, we share with you some tips to help you pay off your loans before you hit 30.

Start Taking Up Side Gigs

The extra cash will always help, instead of idling away your spare time you can make more money instead. Work a second job on the weekends and do not be afraid to start small.

As you gain more experience working your side gigs - writing, painting, or even manual work like waitressing - you can start earning more.

Use a 50/30/20 Budget

Need some tips on allocating your budget? Try allocating 50% of your paycheck to necessities such as rent, food, and fuel. 30% goes into the things you might want to buy, while another 20% goes into paying off your loans.



This budgeting method is the right way for you to have a relatively flexible budget as opposed to setting a fixed amount of cash for yourself each day.

Pay Extra When You Can

If you are one of the lucky few whose monthly loan repayments are all affordable, why not chip in a little extra now and then?

The more you pay off each month, the less interest you pay, and the faster you will finish your loan repayments. Having some freelance jobs, as mentioned above, will help you to make extra payments now and then.

Focus on Smaller Loans First

If your loans start to seem a little daunting, you can implement the snowball method. This method describes how you can pay the minimum balance on all your debts, but pay extra for the smallest loan that you have.

When you have completely paid off the smallest loan, you move on to the second smallest one. Eventually, you will find yourself settling bigger and bigger debts, and you will be highly motivated to continue.

Utilize Cashback Programs

Some shopping platforms and banks offer cashback programs for your expenditure. Utilize these where you can, and shop only when these programs are provided so that you are maximizing each dollar you make.

You can also hop on to loyalty reward programs in your nearby supermarket or grocery store. The more you spend on your daily needs, the more you will be rewarded for it.

Consider Loan Consolidation

It can be challenging to manage financing a car loan, a mortgage and other debts at the same time. If you have a good credit score, you may be eligible for debt consolidation.

Compare several debt consolidation services and choose the one with the lowest interest rate so that you will only have to pay one debt instead of multiple payments.

Review Your Finances

Take a look at how you have been spending and review your financial goals, both short-term or long-term.

When you have a clearer idea of what you are striving for, it is easier to budget out expenditure for the coming months while you pay off other debts.

Keep Your Credit in Check: 4 Common Credit Killers to Watch Out For

A plummeting credit score could end up costing you thousands in the coming years, and you could have blemishes on your record without even realizing it. If you are tired of struggling with a low credit score, then you might want to keep an eye out for these common issues that will drive that number into the ground.

Constant Credit Checks

You should always ask potential creditor what kind of credit check they are going to carry out before you hand them an application. A soft inquiry won’t impact your credit, but a hard check could drop your score by multiple points. 

In order to carry out a hard check, the third-party must have your consent, and that usually occurs when you apply for a new job or a home loan. If you are shopping for a loan, then all inquiries within 45 days will be counted as one hard check.

Unpaid Tickets

Many people don’t realize that an unpaid ticket could actually impact their credit score. Getting a ticket won’t necessarily show up on your credit report, but it could end up dropping your score if the bill is eventually sent to a collections agency. 



That is why if you feel that you won’t be able to pay a traffic ticket, you must immediately reach out to a traffic ticket lawyer to have it disputed before it can damage your credit score in a severe way.

Loan Increases

When an organization is determining your credit score, they are going to compare your income to your total debt. If your debt increases and your income remains the same, then your credit score might drop by a few points. That being said, paying off your loans will gradually increase your credit score over time.

Canceling Lines of Credit

It is an unfortunate fact that determining an individual’s credit is a relatively complicated process, and many different variables are taken into consideration. That includes how many lines of credit you have open and how long those lines have been active. 

Whenever you cancel a line of credit, your score will most likely dip for at least a month or two. After that time, your score should slowly climb back up.

Once you have your credit score at a decent level, you need to make sure that you check on it at least once every few months. Identity theft is a growing problem, and you must catch that type of crime right away if you want to avoid long-term problems with your credit score.

Hit Rock Bottom? How to Know When to File for Bankruptcy

If you have hit rock bottom and can’t seem to find a solution to your mounting debt, bankruptcy may be your best option. Many factors should be taken into consideration to determine if filing for bankruptcy is the right choice and whether or not you qualify. Here are some reasons why bankruptcy may be right for you.

Protection of Assets

Some of your assets could get seized if you aren’t able to repay the money that you owe, and filing for bankruptcy can resolve this problem. If you’re able to declare bankruptcy, you’ll likely be absolved of most or all of your debt and will be able to keep at least some of your property. Bankruptcy can be an especially good option if you’re trying to protect assets such as your home, car and retirement fund.

Using Loans to Pay Bills

Taking out loans to pay bills will usually only result in acquiring more debt that will be even more difficult to pay off in the future. In addition to repaying the amount of each loan, interest fees and any late charges that might incur from failing to make payments on time can make money matters worse. 



Banks, credit card companies and other financial institutions that you borrowed money from to try to pay back debts could end up turning you into collections and putting you in more financial jeopardy. If taking out more loans seems like the only way to pay off existing bills, filing for bankruptcy should be considered.

Sued by Debt Collectors

If your debt has been turned over to collection agencies and you still can’t pay back the money, lawsuits could be brought against you. Many law firm services include bankruptcy consultations that can protect you from lawsuits and help you file for bankruptcy properly so that you can put an end to harassment from collectors.

Qualify for Chapter 13 Bankruptcy

Chapter 13 bankruptcy can be a great option if you still have a regular income and can repay all or part of the debt gradually through payments. In most cases, the repayment plan will last a duration of three to five years, which gives you more time to come up with the money without going deeper into financial ruin. Even if you’re self-employed or run an unincorporated business, you’ll still likely be eligible to file for bankruptcy under this chapter.

Bankruptcy is your legal right if you’re able to meet certain criteria. Even though this option isn’t desirable, filing for bankruptcy could be what you need to resolve your debt and get a fresh financial start.

Should You Apply for Installment Loans in Your 50’s?

Loans are very helpful in a number of ways. With a loan, you can make a big purchase or start a business when you don’t have enough cash. However, though loans are beneficial, at times it can be difficult to decide whether or not applying for one is a good idea. This article highlights some of the key reasons why applying for an installment loan can be a good idea when you are in your 50’s. 

Premature Pension Money Withdrawal Has a Penalty

With most plans, you will face a huge penalty if you withdraw your money before the maturity date. Therefore, even though you have saved up some money, it may not be a good idea to withdraw it before it is time. You will end up losing a large portion of your savings. 

Also, withdrawing your pension money earlier to buy something or make an investment may mess up your retirement plans. It can be better to apply for a loan instead. Check out the benefits and drawbacks of each when making that decision.

It Can Fuel Your Retirement Goals

Haven’t you achieved your retirement plan yet? Installment loans can sort you out - visit this link to find out more: https://www.achievefinance.com/installment-loans-online. You can take out a loan to grow that business you want to be at peak performance by retirement or make that investment you have always wanted to make in your 50’s. You can also make use of the loan to consolidate your debt and pay it off fast before you reach your 60’s. However, when consolidating debt, evaluate the cost of the new loan well. 




If you are not careful, you may end up paying more. Overall, an installment loan can help you in achieving those dreams you hoped to achieve by retirement. You don’t have to put them off just because you don’t have enough money in your bank account.

Installment Loans Repayments are Flexible

Installment loan repayments are normally spread over a couple of months or even years. It all depends on the lender and the amount of the loan. If you are making a big purchase or financing a business, you can take a loan with repayments spread over 12 months or more. 

With such a payment plan, you will get what you want without straining so much to make huge payments. When making your applications, check the terms given by the lender well. If they are not favorable, you can either negotiate or look for another lender.

An installment loan can help you in achieving a lot when you don’t have enough cash and when your retirement plan has not reached maturity. When applying for an installment loan, start with a plan on how you intend to use the money, the benefits you are getting, and how you intend to pay it back. 

Don’t take out a loan if you don’t have a solid plan. It will only make your life stressful. Also, check if the lender is legit, especially when you are applying for a loan online. Do your best to avoid loans for the over 50s scams.

• Read More: The Payday Loan Checklist

The Payday Loans Checklist

For many Americans, payday loans offer a vital lifeline for times when money is hard. A payday loan can provide a much-needed cash injection for any individual or family in need. If you are hit with an unexpected bill that you can’t pay, but you know that you will soon have wages or other income coming in, a payday loan is an ideal solution.

But before you take on any debt, you need to make sure that you’ve run through this 

checklist.

The Loan Criteria

Before you apply for any loan, you should ensure that you have read and understood all of the terms and conditions attached to it. You should never sign a contract without reading it as a general rule; it’s bad enough that we give big tech companies endless permissions to violate our privacy without thinking about it, but you can’t be so cavalier about the financial arrangements you enter into.

The loan criteria will be easily available on the website of the lender in question. It will set out the exact requirements for being granted a loan. Note that meeting the criteria does not guarantee that you will receive the loan; there will usually be additional credit checks.

Are Payday Loans Right for Your Situation?

Just because you need or want money in a hurry, that doesn’t necessarily mean that you should be looking at payday loans such as these from https://locations.friendlylender.ca/alberta/online-payday-loans-edmonton-no-credit-check. 

Equally, there are situations where a payday loan is a perfect solution, so it is essential to be able to tell which is which.

Payday loans are ideal for people who need a relatively minor cash injection to see them through until they receive an expected payment - usually their wages. They are not well suited for those who are seeking long term funding for a business venture, as payday loans need to be repaid as soon as possible.

Your Current Levels of Debt

You mustn’t take on more debt as a means of paying off a previous debt. This is completely unsustainable. The exception to this is if you are undertaking debt consolidation, whereby you take out a relatively large sum of money that you can pay off at a manageable rate, and use that to clear several smaller debts whose monthly payments together were costing you more.

If you are considering debt consolidation, you should talk it through with a qualified financial advisor beforehand to make sure that it’s definitely the right option for you.

ID & Documents

You will need to provide the payday lender with information about yourself, so that they can transfer the loan to you and, if necessary, chase you up for repayments. Most lenders will also want to carry out a credit check before they lend to you. If you don’t know your credit score, it is worth finding out. If you have a low credit score, there are still lenders who will be able to help you in most cases.

If you think that a payday loan can rescue you from a financial conundrum, make sure that you understand precisely what you’re getting into before you commit. For certain situations, payday loans are an absolute lifesaver. Just don’t take on debt that you can’t handle.

Read More:  Should You Apply for Installment Loans in Your 50's?

The Reality of No Credit Check Loans: Case of Eliza

Underhand tactics by loan companies are costing Britons hundreds of pounds every year. Failing to understand which loan could serve best to their needs, a large number of borrowers find themselves tied up with a permanent debt spiral. 

Online lending firms sign off on small loans at easier terms and conditions whereas traditional lenders and banks do not entertain borrowers with a poor credit score.

Many borrowers fail to maintain good credit standing, which is why they turn to direct lenders when they need money, but not all direct lenders follow ethical policy when it comes to assisting people financially. 

Reliable lenders mainly evaluate borrowers’ credit report and repayment potential to figure out whether it is worth lending them money or not.

The majority of people who rely on loans for funding small needs generally have an impaired credit rating. When credit score is not up to the par, running a hard credit check will be like a turn of the screw. 

Therefore, some lenders run soft credit check. Financial experts suggest that taking out a loan without researching enough will be like buying a pig in a poke.

“No-credit check loan with instant decision is not a particular type of loan. It is rather a small loan with no credit check. Trustworthy lenders run a soft credit check when borrowers apply for them. 

A debt spiral mounts up when they take out a loan with a company that makes neither hard inquiries nor soft inquiries. Borrowers with poor creditworthiness should take out a loan with soft credit check.

Following outlandish advertisement claims spur on borrowers to take out loans with no credit check without further ado:

Here is the case of Eliza

Eliza was in mid 30s living with his husband in London and working as an operation manager. She was pregnant by one month when her husband lost his job because the company had to shut down. 
Just two weeks later, tumble dryer went out of commission. Laundry was further afield and it was not possible for both of them to cover miles due to tight financial condition and her busy schedule and pregnancy. For a couple of days, she dried clothes under fan’s air. 




Elisa decided to take out a short-term loan to get the tumble dryer repaired as soon as possible because otherwise they may suffer from health hazards due to mildewed air inside the home. As a responsible borrower, she requested credit reference agencies for providing her credit report. She found that her credit rating was not up to the par.

Of course, she was not able to take out a loan with the bank. She turned to direct lenders as she needed money quickly and did not want to pay off broker fees. After researching about direct lenders, she took out a short-term loan with no credit check with British Lenders. The lender conducted a soft credit check before approving the loan.

Loan amount	£500
Upfront fees	nil
Loan period	30 days
Amount to be paid	£620
Interest	£120 (£24 for every £100)
Late payment fees	£15
APR	292%

Elisa chose British Lenders because APR was lower than other direct lenders. She was certain that she would pay off the debt on time. As she got money in her account, she bought a tumble dryer. Since she was expecting, some money was dissipated in medicines and medical checkups. As a result, she left with very little money to settle the debt.

She talked to her husband if he could have some savings, but her husband did not allow for dipping into it so as to have them for a rainy day. Her payment had been overdue and the lender had already applied late payment fees and interest penalty by the time she informed of her financial difficulties.

According to the policy, she was supposed to inform the lender of her financial struggle to escape late payment fees and interest penalties. She rolled over the loan for another two weeks that amounted to £698.6. 

The due date was very close, but she failed to arrange money. Since she did not want to repeat her mistake, she immediately informed British Lender that she had been facing difficulty paying off the loan. She proposed the lender to accept the minimum payment.

The lender asked her to submit her bank statement again to evaluate that whether her problem was genuine or she had been trying to welch on a debt. After getting the evidence of plummet in her net worth, the lender accepted her proposal even though it was under no obligation to accept her offer, but under trading guidelines, it had a duty to respond sympathetically.

On her request, the lender accepted half of the payment and rest due amount was rolled over for a period of 30 days. Elisa successfully managed to pay back the debt and she thanked British Lenders to be generous. Their Transparent policy had kept her from falling into debt.

7 Reasons Why Payday Loans Are Ideal for Working Quinquagenarians with Poor Credit

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Finances can become a touchy subject for a quinquagenarian (a person between the ages of 50-59). By the time you've reached this age, in most cases, you're either comfortably wealthy to the point of already being an investor or entrepreneur, or you're like most others who are still in the position of needing to work to pay their bills. 

If you're in the latter group like the vast majority of the population, it can be easy to find yourself encountering financial jams as you get older due to compiling debts and obligations combined with increased forgetfulness. This is why you might want to get a payday loan.

Payday loans are sometimes criticized for their short-term repayment requirements and above average interest rates, but for many people, they can provide a means to fixing their finances in a hurry. 

They're particularly ideal for older citizens who don't want to create additional long-term debt commitments and only need a quick band-aid to turn around a minor financial predicament. Likewise, they can often be the only option for people with poor credit.

With that said, here are seven reasons why payday loans can be ideal for an employed quinquagenarian:

1. You Only Need Proof of Income to get a Payday Loan

Regardless of your age, if you have poor credit, you're going to find it difficult to obtain approval for any kind of financing other than a payday loan. Payday loan providers are able to offer loans without conducting any credit checks because they verify proof of employment before granting approval. 

Furthermore, when you get a payday loan, you'll be initiating a direct deposit agreement with your bank to automatically transfer the loan amount to the lender on a specified date – typically the date of your next paycheck. In this way, lenders are able to issue payday loans while only requiring proof of identity and proof of employment.

2. You Can Be Approved Quickly

Submitting an application for a conventional loan of any kind can leave you waiting for days to receive an approval or denial notice. Payday lenders can approve you on the spot and the money will be transferred to your bank account within 1-2 business days. If you visit a physical office location, you can walk out of the building the same day with your loan in hand.

3. Failure to Repay Generally Does Not Affect Your Credit

One of the biggest concerns when taking out a loan is that it might negatively affect your credit if you're unable to make payments on time. That's certainly a valid concern, especially if you already have a low credit score. 

While you should always make your best effort to make repayments as planned, failure to repay a payday loan usually won't affect your credit report or score in any way. There are cases in which a lender could sell your debt to a collection agency, which could then file a claim with one of the major credit reporting agencies, but in the vast majority of cases, this does not happen. 

However, keep in mind that failure to repay your payday loan will render you ineligible for future payday loans from the same lender or network, which is a significant consequence for someone who can't obtain approval for any other kind of loan.

4. The Terms and Fees Motivate You to Repay it Quickly

One of the dangers in creating any sort of debt is that you could wind up being burdened by repayments and taxed by interest and fees for years to come. While long-term loans will usually give you better interest rates, they'll also have you making repayments for many months. 

On the other hand, payday loans generally charge higher interest and fees for late payments, so you'll have all the incentive you need to get your debt squared away instead of putting it off with minimum repayments.

5. You Don't Even Have to Leave the House to Get the Money

Applying for a payday loan is a process that can be handled fully online. You may need to take a picture of your ID to submit along with your application. All of the information required by loan providers can be submitted on their website or via email. 

Once approved, the money can be transferred directly to your bank within a matter of 1-3 business days.

6. The Loan Amounts Are Doable

Borrowing ability can be just as much of a risk as it is an advantage when over-utilized. Since payday loans are given in modest amounts that range from $100 to $3,000, they keep you from over-extending yourself with a $5,000 to $10,000 personal loan. 

Plus, the recommended repayment and loan amounts are calculated based on your income, so you should have no problem paying them back with a bit of discipline. Furthermore, since the amounts are usually small, you give yourself a fighting chance of getting out of the hole even if you were to fall behind on payments.

7. They're Enough to Cover Most Household Bills

If you're struggling to pay your bills on time and are looking for fast relief, payday loans are an ideal option because they're usually enough to cover essential living expenses like rent, utilities, internet, phone, gas, and food. 

If you have a part-time job that doesn't pay much, you might have a hard time getting approved for a higher amount that will make the loan worthwhile. As such, these loans are usually better for people who are employed full-time.

Try to Avoid an Income-Reducing Debt Cycle

Although all of the above points are definitely valid reasons why quinquagenarians can benefit from payday loans, there's also a downside in that your next upcoming paycheck will be less than usual due to the interest and fees. 

Since most payday lenders will offer to immediately renew the loan, that's often the best option for making sure you still have spending money left on payday. However, it may be better to practice restraint and refrain from renewing the loan repeatedly, as you could get into a cycle that has you losing a significant percentage of your income to interest.

All You Need to Know About Heavy Machinery Loans

Through the necessity of money for a peaceful life is still a point of debate but no one can deny its role in living a standard life. Most importantly finance is an important aspect in the planning of any business. Especially if you are planning for a construction business, you will need equipment to start the business. 

And construction equipment is expensive. But you need not to worry as heavy machinery loans are you savior in these aspects. These financing associated with the heavy machinery helps one to buy new or used equipment for constructions with warranty.

What is heavy machinery?

If you are wondering what this construction equipment or the heavy machinery are, let’s get the idea. These pieces of machinery are that equipment that are enabled to perform heavy duty function and these types of machinery covers equipment like tractors, excavators, bulldozers and other engineering equipment. Heavy machinery loans enable an entrepreneur to buy this equipment that can help immensely in the construction process.

However, if you are thinking that you’ll have that much money to buy all these machinery even then, it is advisable to opt for heavy machinery loans so that you can invest that money in some other aspects of the construction process or some other business. 

Heavy machinery loans come with certain terms and conditions and to get the loan one need to qualify some specific field. But before knowing these things let’s have a glance on what are the misconceptions associated with heavy machinery loans.

Aspects to know before opting for heavy machinery loans:

• Differs from equipment financing

As mentioned, certain misconceptions are prevailing in the society regarding loan associated with heavy machinery. One of the prime aspects that one should keep in mind is that heavy equipment financing, or heavy machinery loans are not like equipment financing. 

Heavy machinery is engaged in performing heavy duty task. If you are applying for heavy machinery loans, it required to be used for purchasing huge machinery. But equipment financing is primarily for small items like computers, desk etc.

• No need for full payment

A good construction business required to have enough equipment so that a project can be finished before or on deadline. The right equipment for does not only cut the cost of the construction process but simultaneously it helps to grow the business with happy customers. 

But as it was mentioned earlier also that the price of heavy machinery is high, so buying them is worrisome. Most importantly paying all entire amount for the equipment is also daunting. But in heavy machinery loans are beneficial for the business persons who want to get new equipment. Also, to attain those one need not do the full payment at once.

Know How to Qualify for The Loan:

If you think to opt for heavy machinery loan, you should know that to get the loan you need to qualify for it. The loan is for those businesspersons who meet the necessary requirements or the qualifications. Primary there are various aspects to qualify for the loan. These are mentioned beneath:

1. Minimum Business duration: The first step to attain the loan is the duration of the business. One needs to be in the business on at least one year in order to get the loan. The addition of the credit score is also considered here.

2. High Business Revenue: If your business holds potential to gain high revenue in comparison to the price of the equipment that you are qualified to get the loan. Even if the credit score of your business is not good still you can get the loan based on your revenue.

3. The option for down payment: Another step to qualify for the loan is down payment. If you have a not good credit score, also your business is not helping you to gain handsome revenue than also you can get the loan with the help of down payment.

Lastly, one thing that you should keep in mind is that, the interest rate of the loan differs based on the base of the business owner. You might have to pay a high-interest rate if the credit score of your business is low. But heavy machinery loan is flexible in nature. You can seek for the loan until there is an issue of bankruptcy. These loan help in the growth of the business also support the financial situation of a business owner at large.

Smart Solution with Small 12 Month Loans

Small is not avoidable. A small money crisis is manageable but you cannot take it for granted. Faster you tackle it, better is your financial balance. Such small crisis is easy to handle with a little amount. That little amount can be found through small 12 month loans that are easily available online. 

'At the time of need, it is necessary to get the funds urgently. These loans facilitate emergency funding. Instant approval decision and timely fund disbursal can protect you from last minute financial anxieties. However, no obligation of collateral and guarantor is included, and this makes the interest rates high. Customization in that case can help in many ways.

Take care of few things when you search for a loan deal

In the hurry to get funds, you may take some wrong decision and in finances, it is known as financial suicide. Make sure that there are few things that you notice before you pick a lender or loan choice. Take a look below –

1. Fair in practice and should not demand upfront fee – Many lenders ask for upfront fee from the loan applicants. This may include a big amount, but to tell you the fact, it is not a genuine lending practice and the lenders should avoid this. 

If the lender or loan company in your preference asks for the upfront fee then it is better to say ‘no’ and move on to the other option. Do not worry, there is no scarcity of ethical online loan companies. 




2. Compare with rational mind – Comparison is the best tool to get the best loan deal. APR, Repayment plans are the best ways to compare between the loan companies. Take the loan that suits most to your repayment capacity. However, the 12 month loans have small amount for instance 500 Pounds and the installments are never hefty. 

Still it is always better to find the most affordable deal. There are many other expenses in your monthly budget and it is not wise to increase the burden unnecessary. Small needs keep coming; next time also there may be a need for a loan.

Features –

Knowing about the features can help you take better decisions.

• Credit score status is not a constraint – It is better if your credit score is good or excellent, however funds are achievable despite less-than-perfect credit score. Fair and bad credit scorers can apply and avail funds. Remember, this does not include very poor credit people. In that case too you can borrow money without the collateral and guarantor. If your credit score is bad, it is advisable to pay the debts on time as this may help get an easy approval. With timely repayments, credit score improves and this makes the lender think positive on your loan application.

• Also come with payday loans – Have you ever heard of 12 month payday loans? They are available in the market without any obligation. Get approval decision in 30 seconds and receive funds in just 10 minutes. This option is useful only when your need is extremely urgent otherwise do not opt this. The interest rates of payday loans are very high and the installments can be hefty.

Small term loans are useful in any financial crisis. However, first explore the available choices of funds like savings, help from friends. When nothing is left then takes the loan. Manage the repayments well and repay on time. Good financial behavior brings many good financial opportunities in future.

Description – OsMoney offers 12 month loans without any collateral and guarantor. No upfront fee and no hidden charges. Instant approval decision, also available as 12 month payday loan.

Is It Good to Fund Your Investment with a Personal Loan?

With the rise of available loans and investment options in India, an increasing number of investors seem to opt for unsecured loans to invest in equity funds and Initial Public Offers to earn a profit and repay the loan. As the equity market stabilizes in the last fiscal quarters and the Sensex reaches an all-time high, people are capitalizing borrowed money to earn a substantial return against their investment.

There are certain things that an investor should look out for before they put borrowed money into investments. They should know about the best short term investments, along with the benchmark index to earn the maximum returns at the end of each year.

Is it right to fund your investment with a loan?

You can fund your investment options in India with a loan if you take care of a few things. For example, you should not put your money into an investment scheme that will mature after your credit is due. You should also consider whether the return on the investment is higher than the sum of credit. If the benchmark index (Nifty) shows returns of at least 13% annually, you will earn approximately 24% on your investment portfolio for the years ahead.




A personal loan is one of the best options if you want to invest the borrowed money. Personal loans come with various features and benefits that can assist you to earn the highest against your investment. Financial institutions offer flexible tenors on this type of unsecured loans, which puts less strain on your finances and eliminates any worries about losing an asset in case you fail to repay in time.

Things to look out for before investing

If you are looking for how to apply for a personal loan to invest the funds, you should check out a few precautions before you invest that money in the market. Let’s take a look.

• Have an alternate source of income – Financial experts suggest borrowers to have an alternative source of income to pay the EMIs if they plan to invest the funds from such loans into investment options in India. Systematic withdrawal from the market to pay the EMI can prove detrimental if you want to earn a high return.
• Carefully choosing the investment plans – Ideally, you should invest in the best investment plans for 3 years or 4 years. These often carry stock options that are fundamentally strong, and you also won’t have to pay for short-term capital gains.
• Check the loan rates – The interest rates on a personal loan play a critical factor to determine you get a substantial return. If you choose an advance with a high rate of interest, you will have to hand over a significant amount of money to the lender when the payment gets due. You will also pay larger EMIs during the repayment tenor.
• Opt for low interest rate personal loans - To earn the best returns without straining your finances during the loan tenor. You can use a personal loan EMI calculator to determine a preferred monthly installment rate for repayments.
• Know about additional charges and fees – Along with the interest rates, you should also learn whether a lender asks for any fees and charges. Ideally, you should check it while you look for your personal loan eligibility criteria.

Various financial institutions charge a minimum processing fee and interest rate on personal loans.

• Know about the investment option – Before you invest in a particular stock or mutual fund, know how it performed since it was introduced to the market. It will help you shortlist the best investment options in India and prevent you from losing money.
• Understand the risk level – Certain investment schemes come with more risk but higher returns. You should opt for a scheme that you are comfortable with. For example, if you prefer a safer investment with guaranteed returns, you can put the money in fixed or recurring deposits or government debt bonds.

Investments via funds from a personal loan should be a careful and deliberate task with proper planning and strategies. While it is easy to meet a personal loan eligibility, you should consider the pros and cons of the credit along with the investment option itself to ensure a guaranteed gain.

Five Simple Steps to Finding the Right Loan

Submitting a loan application isn’t something to be taken lightly. Whether you are looking to borrow £1,000 or £100,000, it’s important to know you’re getting a deal that suits your requirements and budgets.

These days, there’s no shortage of options to explore. If anything, you’re more likely to find yourself wondering where to start.

So with this in mind, what follows is a brief overview of the five simple steps that stand between you and your perfect loan:

1. Consider if you really need a loan

Before going any further, it’s worth considering whether or not you actually need a loan. The reason being that it’s never a good idea to take on additional debt for frivolous reasons.

In addition, you may also be able to cover the expense using your existing credit facilities. A credit card with a low APR, an interest free overdraft or perhaps the savings you’ve got stashed away in the bank. If there’s a way of getting things done without taking on additional debt, it’s an option to consider.

2. Check your credit score

These days, having an imperfect credit score doesn’t mean exclusion from financial support. Nevertheless, it could mean higher overall borrowing costs, or exclusion from certain lenders.




If your credit report is only slightly blemished, your application will probably be considered by most lenders. If your credit report is in a sorry state, you might want to target lenders who specifically cater to poor-credit applicants.

Always remember that denial of your application could inflict further damage on your credit report.

3. Evaluate your financial position

When applying for a loan, you need to consider your financial position beyond today. You may be able to cover the repayments right now, but what if things take a turn for the worse a few months down the line? Are you absolutely sure that no matter what happens, you won’t slip into arrears?

Taking chances is never a good idea. Unless you’re 100% confident in your capacity to repay the loan, you may wish to delay your application.

4. Compare the market in full

Comparing the market in full means looking beyond the High Street. Up and down the UK, there are dozens of specialist lenders who routinely offer secured and unsecured loans at rates that outperform those of major lenders.

Working with a specialist loan comparison website or independent broker is therefore advisable. Particularly for anyone with poor credit, who’s unlikely to be fairly considered by a major High Street bank.

5. Consider overall borrowing costs

Last but not least, the vast majority of loan products attach costs that go far beyond monthly and annual interest rates. Arrangement fees, administration fees, final settlement fees, late payment fees and so on – all stand to significantly increase the overall cost of the loan.

When carrying out your market comparison therefore, be sure to factor all borrowing costs into the equation. Once again, this is where an independent broker can help you compare the best deals on the market from specialist lenders across the UK.