Let’s talk
about Loans
75,000+
Customers served
₹450 Cr+
Total savings
4.8/5
Google rating
Browse Topics
5 CategoriesPersonal Finance
APR in Loan: Explained in Simple Terms
APR (Annual Percentage Rate) is an annualised measure of the cost of borrowing that incorporates the applicable interest rate and specified charges used in the APR calculation. APR may be higher than the quoted interest rate when applicable charges are included in its calculation. , and since 2024, Indian lenders are legally required to disclose it to you upfront.
How to Adjust Your Monthly Budget When Expenses Change
Budget adjustment means revising how you allocate your income after something changes, a rent increase, a new expense, a pay cut, or even a raise. It's different from building a budget from scratch, you're working from an existing plan that no longer fits reality. This guide walks through the adjustment process using a worked example, with a template you can copy directly.
Unsecured Loans Explained: Meaning, Types, and Benefits
An unsecured loan is money you borrow without giving any property, gold, or asset as security. Bank checks your income and credit score before approving. Personal loans, credit cards, and BNPL are common types. Interest is usually higher since bank takes more risk.
How Banks Calculate Your EMI, Step by Step
For a standard fixed-rate loan with equal monthly instalments, every bank uses the same underlying formula: EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1]. Some lenders structure products differently, flat-rate pricing, variable rates, or irregular instalments, so this formula applies specifically to standard reducing-balance loans. The amount stays the same each month, but what it actually pays off, interest versus principal, changes every single month.
Debt Payoff Planner: Build Your Own Debt Payoff Order
A debt payoff planner is a simple plan that lists every debt you owe and sets the order to pay them off in. It tells you which debt gets your extra money first, while you keep paying the minimum on everything else, until each one is cleared.
Financial Counseling: When You Need More Than a Budget App
Financial counseling is a professional reviewing your full financial picture, income, debts, and spending, and helping you decide the right next step. A budget app shows you data. A budget app can show your numbers, but it generally cannot replace personalised advice about which debt strategy fits your specific circumstances.
What Happens If You Only Pay the Minimum, Every Month
Paying only the minimum due every month keeps your account technically current, but it doesn't mean your debt is shrinking the way it looks. Interest continues to accrue on the unpaid balance, while new spending can add to the amount you owe.
Still Getting Calls After Your Loan Is Settled? Here's What to Do
Loan harassment after settlement means recovery calls or messages continuing even though your account is already marked "Settled" and you're holding an NOC (No Objection Certificate) or other written confirmation of the settlement.
Make smarter financial decisions.
Loan Settlement | Loan Consolidation | Credit Insights | FREED Shield
Get Started