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A personal loan is an unsecured loan offered by banks and non-banking financial companies (NBFCs). These are unsecured because a borrower is not required to pledge any asset—property, jewelry or car—to get the loan. For this reason, personal loans come with a higher interest rate compared with secured loans, such as a home or car loan. A personal loan comes in handy in case of a financial emergency as you can borrow the required amount in 12-48 hours from an NBFC by simply submitting income-related and personal information documents. Banks can take up to seven days to process the loan request. What more? Personal loans come with no strings attached as the lender does not monitor its use.   While personal loans give easy access to credit, they can also be a recipe for financial disaster, if not managed prudently. Here are the most common mistakes you should avoid when applying for a personal loan. Reason for borrowing Ask experts and they will tell you that personal ...

Taking out a personal loan for the wrong reasons could come back to haunt you in more ways than one. When you’re strapped for cash, a personal loan seems appealing. You don’t have to put up any collateral and you can use the money for just about anything you want. Even individuals with poor credit might be approved. But like all loans, personal loans have some drawbacks as well. Interest rates are typically higher than they are on secured loans and if you fail to pay the money back on time, it could hurt your ability to take out new loans in the future. Here are five times when a personal loan just doesn’t make sense. 1. You qualify for a secured loan Secured loans require collateral, which is something the bank can seize if you fail to pay back what you owe. Your collateral is your car in an auto loan or your home in a mortgage. Personal loans have higher interest rates because they don’t require collateral. That means there’s nothing the bank can take if you fail to pay...

Loan against property fares better on most parameters; disbursal time is a drawback Personal loan and loan against property (LAP) are similar in nature as they come without any restriction on the end-use of the loan proceeds. You are free to use the loan amount to finance your home renovation, child’s education/marriage, business expansion, overseas travel or any other personal requirement, except for speculative purposes. As both the loan types serve the same purpose, many borrowers face a dilemma when it comes to choosing between the two options. Via: The Hindu BusinessLine -News Contact Us ADDRESS▼ 200 Jalan Sultan #02-33, Textile Centre Singapore 199018 PHONE ▼ 6291 6868 EMAIL ▼ enquiry@emvertex.com FAX ▼ (65) 6293 9018 WORKING HOURS ▼ Monday –  Saturday :  11am – 7pm Request immediately:  EMVertex Credit

SINGAPORE – Property firm Capital World has inked a $5.5 million convertible loan agreement with two individual investors, it said in a bourse filing on Thursday night (Oct 3). The Catalist-listed firm took the loan to repay an outstanding convertible bonds subscription agreement. After deducting expenses, it will have net proceeds of about $5.1 million. The loan – from Chong Thim Pheng and Ong King Sin – is for a period of a year with an annual 15 per cent interest rate. It is convertible into new Capital World shares representing 16.52 per cent of the enlarged share capital, with a conversion price of $0.0151708. The conversion price is adjustable if there is consolidation, subdivision or conversion of shares; any issue of shares credited as fully paid-up to shareholders; or an offer by the company to its shareholders to subscribe to shares by way of right. Mr Chong loaned $4.5 million while Mr Ong loaned $1 million, and they can convert their loan during the loan perio...

SINGAPORE – Bank loans edged up 0.6 per cent to $684.88 billion in August from the previous month, reversing a dip in July, as higher business loans offset the continued contraction in housing loans, according to preliminary figures from the Monetary Authority of Singapore (MAS) on Monday (Sept 30). Business loans grew 1.1 per cent to $422.73 billion from July, while consumer loans shrank 0.2 per cent to $262.15 billion. Housing loans, which account for three-quarters of consumer lending, dropped 0.2 per cent to $201.37 billion last month, compared with July, marking the eighth straight month of contraction. They declined by 1.1 per cent on a year-on-year basis. Weaknesses in the manufacturing sector as the United States and China trade war wage on also showed in the latest lending figures. Loans to the manufacturing sector contracted 0.2 per cent to $27.92 billion compared with July, while loans to all other business sectors such as agriculture, construction and transpor...

SINGAPORE’s headline inflation edged up slightly in August reversing from a dip July, while core inflation remained flat, according to statistics released by the authorities Monday. Headline inflation rose to 0.5 per cent, up from 0.4 per cent in July and largely in line with economists’ expectations. This reflects higher private road transport inflation and a smaller decline in accommodation costs, the Monetary Authority of Singapore (MAS) and the Ministry of Trade & Industry (MTI) said in a joint statement. Food inflation picked up slightly to 1.6 per cent year on year in August, from 1.4 per cent in the previous month. MAS and MTI said this was on account of a larger increase in the cost of non-cooked food items, as well as higher food services inflation. The cost of retail goods registered a year-on-year declined of 1.5 per cent, up from the 1 per cent fall in July. The steeper drop primarily reflected a sharper decline in the cost of medical products, hous...

The Singapore investor is no stranger to Reits. Real estate investment trusts listed in Singapore, with a combined market capitalisation of S$100 billion, make up 10 per cent of the stock market and are often recommended as safe, solidly-yielding investments. While the universe of Singapore-listed Reits – or S-Reits – is diverse, spanning all real estate sectors and many geographies, a small handful have emerged to pique investor interest especially. This year alone, three US property trusts listed on the Singapore Exchange (SGX), bringing with them exposure to the biggest real estate market globally. SGX market strategist Geoff Howie tells The Business Times: “Singapore has been growing in strength as a listing platform for US property trusts since 2016, and listed three US property trusts over a three-month span in Singapore earlier this year.” Two property trusts focusing on hotels listed in May. ARA US Hospitality Trust (ARA-H-Trust) has a total of 38 Hyatt Place and Hyat...