Self employed folks can and should get loans and credit cards provided that they have ITRs for the last 3 consecutive years and have all the documents of the self employment (payment from employer/client in case of freelancing, current account, licence, GST etc for business etc )

Software Developer

0 loans till date. Multiple credit cards though. Love credit cards more than anything, but very careful about the spending

Consultant

Would like to avoid credit cards (cancelled my last one, can't get new one anymore either since self employed apparently) and use something that preferably has less than 15% rate of interest. Haven...

Welcome to Personal Finance's Private Community

Would like to avoid credit cards (cancelled my last one, can't get new one anymore either since self employed apparently) and use something that preferably has less than 15% rate of interest. Haven't been able to find anything useful or reasonable yet.

Indmoney offering 1L at 2% per month/24% per year.

Self employed folks, where do you get your credit/loans from?

Product Owner

Self employed folks, where do you get your credit/loans from?- Grapevine

24% annual rate of interest 🤪 Wondering if it can be useful and if anyone has used it for anything apart from 2-3 month borrowing periods.

Has anyone used IND money instacash withdrawal?

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.

I will complete 3 years as a professional soon. Quit a Big4 to join a startup for better pay and faster growth but despite putting in my best work and leading initiatives, going above and beyond all the time, my peers are all earning better than me doing similar jobs.

i never had a financially aware upbringing. my father put us through hell due to his bad decision making and despite me being very financially savvy, am unable to save any money because im so anxious I tend to spend what I dont have. i had to take up a lot of freelancing to aid my lifestyle but now im busy all the time and have no time to myself. 

idk what to do. idk how much savings my parents have since I live away from them and dad never discusses his larger financial plans with me. he also does not have a stable job even at his age even though I know he is v hardworking and does his best. i feel i will never have enough money to support my parents and myself and feel like im running out of time. also doing interviews to leave this shitty company as well which is lowballing tf out of me. im not sitting idle at all, trying to startup on the side as well. i workout, eat and sleep healthy, have a great social life. the only problem is money which im constantly worrying about. i feel its a generational curse passed down to me. I know I have 10x earning capabilities but its all so vague and uncertain. I have an amazing support system and I know I can talk to my friends about this too. just thought of coming here first

please share stories if youve ever felt this way. open to advice feedback ideas. how did you get out of it? what can I do? 

what are some business/sales roles that pay really well that I can get into as an ex-big4 analyst? i dont think my current profile translates well anywhere. f*ck this company honestly. probably the worst decision I made coming here :(

[rant] 24 year old anxious about his financial future

Marketing Associate

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

Tech Lead

thought on p2p lending as a investment 
like Cred mint, 12 percent club, OkNivesh (okcredit) 
Grip Invest, India P2P etc.

i do not faced any problems with withdrawal and 
i used Cred mint and 12 percent club

but scared as might be chances there NPA will increased and i might not able to withdraw my whole month

i kept around 8L in cred mint
and 3L in 12 percent club

your thoughts?

Is p2p lending is safe in india?

Please suggest a way to get out. I am stuck in a financial situation of extreme debt of about 3000000 with a family monthly salary of 130k and I have a toddler too. Need a quick way to get money to get out of this situation.

Stuck in financial debt loop of credit cards.

Software Analyst

Welcome to Indian Startups's Private Community

Hello,

I have been running my Recruitment and HR consulting firm as a proprietor for the last 2 years and doing pretty fine. I now have a good number of clients which suffice to expand our services. Hence, I am planning to set up an office in Pune and hire a team of recruiters. However, I need some funding of around 8 Lakh to run the operations. I heard about various MSME Loans but not sure how to go about it.

I am urgently seeking a help to understand the process.

Looking for mentor to guide me in obtaining MSME Loan for my small startup in HR and Recruitment Consulting firm.

Founder

I have been banking with Axis bank and have a turnover of few Crs in my biz but these guys don't provide an unsecured OD or credit line. Whereas, ICICI has a product that does that but I'm a new customer to them so wouldn't open it up to me unless for a small amount like 1-2 lacs (I've spoken to them) they need time and transactions for OD to go about 15-25lacs which is what I need. 

Times are tough and my credit score has fallen due to some reason so RazorpayX wouldn't give me LOC or OD either. 

any other options I can look at? Ready to open new current account with anyone who does.

Need credit line for the biz.

All the cool marketing and UI/UX aside I find myself wondering what's up with Cred? Here are my questions, knowledgeable product folk or better yet people from Cred or who worked at Cred can you please help with the following questions (and associated complaints)

1) What's the point of the store anymore? The brands are actually far less premium than they're made out to be. Plus you don't get access to exclusive products. 
2) The reward system is just sad now, why have they changed the logic and reduced the monetary rewards so much? What were just PLG features like earning cashback for referrals is a voucher now plus the Rs. 1 cashback is just insulting at this point. 
3) I used cred cash once and I'm not going to need much more. But I'm wondering if you're catering to the top 1%, do they really need liquidity at 9% interest? 
4) Cred Mint seems like a worthwhile proposition, however the returns are only marginally better than the best FDs out there. Also if they're partnering with Liquiloans, which primarily lends to other startups, isn't that risky? How will they guarantee returns if someday Liquiloans goes under?

What's the deal with Cred

Product Marketing Manager

Founder of a Car,Bike rental platform with a definite potential to dethrone present competition. Completely bootstrapped since 4 years. Last year's revenue is 35 Lakhs.
Open to partnerships as well. Just want to take the brand to every city all over India and then international. 

The company has a potential to easily make 200 crores per annum easily with automated mode. 
Open for all kinds of suggestions. TIA 
PS already tried banks for loans they aren't interested unless I have collateral.

Looking for VCs or Angels for a Small Investment of 20 Lakhs.

I have avoided SBI always in the past. Even few days back, someone here on GV bashed SBI when he had to wait 3hr for account opening. But the prospect of being defrauded and shortchanged for loans, with random charges added and preclosure being a pain, I am dreading to interact with Private banks and NBFC's.

I haven't had the experience of servicing home loans/personal loans with HDFCs or other banks yet. But I was planning on getting a personal loan this month and HDFC is offering very competitive rate of 11%.

Do you guys have any reviews on their service whenever you have needed something adhoc?

Deposits and Credit cards from HDFC, but borrow only from SBI

Investment Manager

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

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

Why do we need personal loans ??

Team Lead

Mention your total investments (Stocks, MFs, FDs, Cryptos, real-estate, gold etc) and your total net worth (investment assets' current value + hard cash + bank account balance) and also your age.

PS: Don't include paper money / ESOPs

Mine:
 28L in stocks, 5L in cash, 1L in gold (bought it for mom) :P, no crypto
Age:28

What is your net worth (Mega 🧵)

Operations Analytics

How many bank accounts you have and why?

Any bank accounts just for FD with high interest rates? 

What’s your take on this? 

Noob here. Thanks in advance.

Bank Accounts

Software Engineer

How safe is credMint ? I am planning to move some of my funds due to ~9% return.

Self employed folks, where do you get your credit/loans from?

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