I would advise you to not take a personal loan for trading. That is one big mistake. Just don't do it. Also HDFC bank  provides cheapest rates for PL.

No my bad. I would much rather keep my cash with me so I continue to trade while I get a loan for this big purchase

Tech Lead

Just go for HDFC bank then, they can offer you 11% if the ticket size is less than 10L. If it's 10L and above you can get a rate of 10.50%.

Machine Learning Engineer

You can get an overdraft over FD from some banks like ICICI. It is 2% over your FD interest. The money in FD continues to earn interest. So net interest reduces a lot. I think the processing fee is nil too (not sure). It is usually a cost effective loan when you have money in hand already. Max overdraft you can take is 90% of the amount in FD.

Software Engineer

Founder

Bank of Maharashtra and other PSU. Try availing PL from where you have a salary account and negotiate with them. 
  
 Don't do trading with loan money bro.

Chartered Accountant

PSBs offer lowest interest rates. But would suggest not to take PL for trading or investing.

Sales

Check your Loan Agreement.  Some (not all) issuers have a End Use Restriction that prohibit you from certain uses even for a personal loan.  Investing is one of those use cases.

Sales Manager

If you have mutual funds get a loan against them its cheaper than all loans try it on smallcase

Software Developer

Hey folks!  I saw slice ad saying they are offering some upto 5 l interest free loan. Checking that out.  But what companies are offering loan at some extremely low interest rates? I am assuming ba...

Hey folks!

I saw slice ad saying they are offering some upto 5 l interest free loan. Checking that out.

But what companies are offering loan at some extremely low interest rates? I am assuming banks would charge a premium vs the tech companies.

I am looking for some 2-4l loan purely because I can earn more via trading than the interests I'd pay for loan.

Least interest loans

Least interest loans- Grapevine

Welcome to Personal Finance's Private Community

I tried Paytm payments Bank but payment options were fairly limited. Deactivated after a few months.

Has anyone tried this one? Is there even a point to such loans apart from emi/big purchases?

Gpay offering loans now.

Product Owner

Welcome to News Discussion's Private Community

After the recent RBI mandate to banks and NBFCs against unsecured personal loans, the lenders have pulled back their hands from digital lending. My company has already started facing the impact. Tomorrow onwards we won't be able to disburse any new loans from our platform because the lender is unsure of the road ahead.

Personally, I can't afford to go through another layoff this year :')

Brace for impact people in lending biz!!!

Product Manager

Everyone's requirements will be different, mine is to buy a car how about your??

Why do we need personal loans ??

Team Lead

I'm planning to take a loan for 60Lacs.

which is the best bank to take from to get the lowest interest rate.

what should be the duration of loan  5 or 10 years - based on getting Tax exemptions.

60 Lacs Home Loan

I am a salaried and I have a personal loan emi of 23000 and the loan is pending for 2 more years.

I have an option to close this by paying the complete amount now which would be around 5.5 lakh.

Should I try and close loan first or allow the emi to continue and invest the remaining investable money from the salary ? Or any other suggestions

What would you be doing ?

Data engineer

I recently came across one of the videos on YouTube that talked about Loans against mutual funds.- https://www.youtube.com/watch?v=lK7KuMzRm8U&t=3s 

Overall this product looks very convincing & it is so true that people sell their mutual funds when they require funds to make a downpayment on a House/Car.

The ROI is so low & this is an Overdraft, so no foreclosure fees for this loan & the best part? The process is super smooth of few platforms like Volt Money.

I am convinced that it's a good product & want to avail for some personal reason.

Want to check if anyone has used this & they are also positive about loans against mutual funds?

Has anyone availed Loans against mutual funds?

Category Manager

Is there any ways to get a loan of 3-5 lacs in chennai, like finances other than Banks

Loan

Analyst 

Welcome to Indian Startups's Private Community

Just finished an emi purchase of 1500, 500 divided in 3 months. Small test to see how it works, and it actually is zero % emi. Pretty good for small purchases less than 20k i guess, but how do they make money on 0% emi?

How does snapmint make money?

Generalist

Welcome to Office Gossip's Private Community

Soonicorn founder

Shoot your questions!

Fintechfounfer AMA

My current salary is 42LPA. I am from IIT, have 7 years of experience and work in product. Honestly, my value in the market is higher than what I’m being paid but I am very demotivated to optimise for that. When I do see less deserving people minting more money, I feel that I am doing injustice to myself and playing the wrong hand.

More and more though, the thought of earning more money chokes me a bit. I have dreams of building something of my own - that gives me control to build something my way and freedom to live my life as per my terms. But the mindset of “zyada paisa pareshaani hai” doesn’t leave me.

My family also is not dependent on me and whatever is needed from my side, I actively contribute to. I also lack any motivation to focus on my investments and see my money grow. I just have money sitting around in my bank account purely for nothing

I also look at my lifestyle choices from time to time and go into existential debate of why we need the things that we do. This has come to a point where I really do not understand my relationship with money and why we earn and spend it. 

For me at this point, it’s just a show for the world. There’s very little that you need, and really no limit to what you want to show. And I just don’t see a point in it anymore.

I am demotivated to work to earn more money

Hey @Hungryninja  
 Extremely relatable and very beautiful write up 
  
 I get the trouble you face. When you’ve almost figured out what you like and what you don’t like (that money isn’t thaaat needle moving, I have basic needs) but at the same time, the opportunity cost of relaxing is too high - everybody from your batch will remind you of how far you can go, and the middle class boy in you will find it difficult to stomach letting go of all the money, even though you can make it  
  
 Went through this at one point. I have ultimately sided with money. I cannot sit back and relax. Money will only unlock a lot of foreign travel and good lifestyle for me. But more than that, I am lucky to be in a position that allows me to earn money easier than other people do. So I’ll make it, help extended family and people who cannot earn as easily, because at least in a country like India, it’s almost a responsibility. We’re not fucking Europe. 
  
 I’ll just not kill myself for it as much as I used to :)

Investment Associate

Any PM or Dev from Navi here!!
I just saw it’s Glassdoor rating is 2.1,is it that bad?

Why is NAVI hated so much?

Should we also compare NPAs? Should we also compare loan book size? Should we also compare amount of time in the industry? 

I mean we know business is growing, but give folks a better reason to join. 

Be like stripe- to increase the gdp of the internet

That’s a dumb thing to write!

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves.

Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? 

I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

Cred

I feel cred is doomed and just trying to increase its value. 
 And the end goal is to sell the cred to someone with higher value and make money.

People with home loans comment your current interest rate

I'm building a platform like Paisa Bazar, where I will be selling credit cards (I have a online distribution network from where I'll be diverting users)

On very cards landing page I want to list all offers for that particular card, From where can I get all these offers.

Questions form finance industry veteran and Ninjas

Given the current funding winter and companies are now chasing profitability metrics, how is CRED’s future looking given they are more focused on experience and experience and there doesn’t seem to be a big monetisation play and more gimmick.

Need some insights to make a decision for job offer

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