1 / 11

Here is what you should know about line-based personal loans.

Are you looking for a loan product that allows withdrawal flexibility? Try a line-based personal loan.

HeroFinCorp
Download Presentation

Here is what you should know about line-based personal loans.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Here is what you should know about line-based personal loans.

  2. What does a line-based personal loan mean? • They are a type of revolving credit that does not require collateral.

  3. How does this loan product work? • Only the utilised loan sum is subject to interest. • The loan is sanctioned based on your creditworthiness.

  4. Advantages of taking out a line-based personal loan • You can use the funds for both business and personal purposes. • You can withdraw funds entirely or partially, depending on your needs. • This loan is easily accessible online.

  5. Downsides of using a line-based personal loan • Using more than 30% of your credit limit reduces your credit score. • It is hard to calculate EMI, which can cause budget mismanagement. • They have a higher interest rate and are available for a shorter tenure.

  6. Distinction between line-based personal loans and credit cards • Line-based loans have a higher credit limit than credit cards but a lower interest rate. • A line-based credit loan is ideal for recurring expenses.

  7. Distinction between regular personal loans and line-based loans • Contrary to line-based credit, personal loans require interest payments on the total amount disbursed. • A personal loan is ideal for covering any kind of expense.

  8. What similarities exist between line-based personal loans and regular personal loans? • Both are available without security. • The qualifying conditions for both are the same.

  9. Should I get a regular personal loan or a line-based loan? • Personal loans have lower interest rates, longer repayment terms, and an adequate loan amount.

  10. A line-based personal loan is suitable for recurring expenses, and you are required to pay interest on the utilised amount only.

  11. Thanks! Would Love to hear from you. Hero Fincorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel : 18001024145 Email : customer.care@herofincorp.com Website : https://www.herofincorp.com/ • Know More : Everything to Know About a Line-Based Personal Loan

More Related