Loans 101

Understand Loans 101 in India: Uncover diverse loan types, decode essential loan terms, master strategies for managing multiple loans, and unlock potential tax benefits. Empower your financial journey wisely.

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Episodes

E01: Types of Loans

03 mins

Loans are categorised into two main types: secured and unsecured. Secured loans, such as home, car, and gold loans, require collateral, offering higher...

E02: Loan Terms You Must Know

05 mins

Understanding loan terms is crucial before borrowing. Key elements include the loan amount, tenure, and interest rate...

E03: Strategies for Managing Multiple Loans

03 mins

While managing multiple loans, prioritise keeping debt below 40% of disposable income. Timely repayments are crucial to maintain a good credit score...

E04: Tax Benefits on Loans

03 mins

Section 80E allows interest deductions on education loans for higher studies of yourself, your spouse, or children, spanning up to 8 years...

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All

Home loans for properties, personal loans for varied needs, education loans for studies, car loans for vehicles, and business loans for entrepreneurs.

Familiarise yourself with EMI (Equated Monthly Instalment), interest rate, tenure, collateral, and credit score to make informed decisions while navigating the loan landscape.

Prioritise high-interest debts, consolidate if possible, and explore debt repayment plans. Regularly track your credit score and consider professional advice for a strategic approach.

Yes, loans are eligible for tax benefits under sections such as Section 80C, 24(b), 80E, 80EE, 80EEA, and 80EEB. You can claim deductions on the principal repaid and the interest paid depending on what each of the sections offers deduction on.

Pay bills on time, keep credit card balances low, and review your credit report regularly to identify and rectify discrepancies.

Bajaj Finserv Direct Limited ("Bajaj Markets") offers to its customers, various financial products and services through its digital platform as a registered Corporate Agent with IRDAI, registered Investment Adviser with SEBI, registered Third-Party App Provider (UPI payments), and as DSA or Digital lending platform of its Partners. Further, Bajaj Markets also offers a marketplace e-commerce platform to facilitate transactions between customers and sellers on-boarded on the platform. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522 Corporate Agency (Composite) Registration no.CA0551 (valid till 10-Apr-2027) Investment Adviser, SEBI registration: INA000016083 (Validity - Aug 11, 2021 - Perpetual)