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Personal loans have emerged over the years as the most sought after option for meeting personal financial ends. Despite being unsecured (requiring no collateral) in nature, personal loans are easier to obtain. Whether one is a salaried or self-employed individual, the facility will not be restrained to him unless his credit score is rather poor. The amortization period in a personal loan is also highly flexible. The loan repayment tenure ranges from 12 months to 5 years depending on numerous factors. A loan tenure plays an integral role in taking a financial decision. Having the knowledge of the loan repayment tenure enables a borrower to compute the EMI he will have to pay on a timely basis. With the assistance of a personal loan EMI calculator, one can make an estimate of the EMI amount. To check personal loan with EMI calculator is quite simple: it only requires the following details to be entered:
- Loan amount borrowed
- The time or tenure allotted to repay the loan
- The interest rate charged at the personal loan
In terms of documentation, the process of applying for a personal loan is quite simple and easy. Taking the online route for application makes it even quicker.
With these benefits in view, people usually prefer a personal loan option to finance their myriad needs. However, apart from the usual benefits they get, people opt for this also because of certain reasons or events they encounter in their life. To confront these financially demanding situations, picking out a personal loan is a great option as it helps to steer away from this economic hurdle.
Here are the top 8 reasons why people have started applying for a personal loan.
Indian weddings have a grandeur about themselves. Often stretching for a week, the expenses incurred in them are sufficient to drain one’s savings. To reduce the impact of the financial blow, a personal loan serves as a great option. The loan offers the requisite amount a borrower would need for a wedding ceremony without taking away his savings at once. The loan tenure opted by the borrower will provide him time enough to repay the debt in instalments, otherwise known as EMI. Use a personal loan EMI calculator to assess the extra amount needed to be paid for the loan. A personal loan, thus, prevents one from compromising his dream wedding plans due to financial constraints and rather encourages to go full-fledged in organizing the celebration.
Starting a New Business
A new business venture requires a good deal of money in the form of capital. Every business incurs expenditure of a wide range from the purchase of assets to dealing with liabilities. Even the profits are uncertain and unpredictable. Moreover, the risk of facing a loss is also quite present. To help deal with these uncertainties, a personal loan is like a boon. It helps one cope with the temporary losses incurred in the business without jeopardizing the risk-taking ability of the firm in the near future. The prospect of tax deductions is possible if the loan has been taken with the sole view of investing it in the business. Then the interest paid on the personal loan can be shown as a tax-deductible expense With the help of a personal loan EMI calculator it’s easy to assess the total amount needed to be paid for the loan inclusive of the rate of interest.
Medical emergencies may come unannounced and can cause a disruption in one’s financial stability. A personal loan in this regard is a good option to go for as it will shed the immediate load from one’s shoulder. This way a borrower can presently spend the loan amount for paying the medical bills and then later pay the loan amount in instalments. Check how much EMI one will need to pay with the help of a personal loan EMI calculator.
Purchasing a New Vehicle
Buying a new vehicle is often a long desire for many. With the purchasing amount being no less than a few lakhs, a buyer remains in a quandary on how to arrange the hefty amount at once. A personal loan serves as the best option for him. Being a type of unsecured loan, it does not require the borrower to put his newly bought vehicle to be used as collateral – which, otherwise, he will have to if he takes a car loan or any other form of a secured loan. You can use a personal loan EMI calculator to calculate the monthly EMIs that needs to be paid.
Paying off Credit Card Debt
Credit card debts, if kept accruing, can put immense pressure on the cardholder. Also, it keeps damaging the credit score. In order to get away from this situation, a personal loan can act as a big relief from the credit card debt. You can even be financially prepared by calculating the monthly EMIs using personal loan EMI calculator, online. A personal loan can be used to pay off the credit card debts at once and then the borrower can take his time to repay the loan, that too on lesser interest rates.
For a Vacation
Going for a vacation is the most ideal way of spending one’s holidays. It becomes all the more special if the chosen destination is some foreign location. However, the biggest hurdle may come off in the form of finance. A personal loan is just the remedy for this problem. Use a personal loan EMI calculator to evaluate how much you will have to pay each month for the luxurious tour.
A home renovation incurs heavy expenses which may make the house owner defer the expenditure for some later time. A personal loan provides a solution to this. Why wait to repair some part of your house, be it kitchen or bathroom and leave some segments? Or to drain all savings in a complete renovation? With a personal loan, one would not need to disburse all his savings at once. The loan can be paid in due instalments, the amount of this can be seamlessly calculated using a personal loan EMI calculator.
Education plays an important part in everyone’s life. It is a sure-shot way of getting success in the future. However, owing to the high expenses required to finance higher education, one may make many compromise on his preferred career destination. Be it admission and tuition fee, the educational cost is usually at the high end. A personal loan helps in coping with the bulk sum required to get admission and pay the fee for a good educational institution. The loan tenure will help one pay the large amount in relatively smaller bits at regular intervals.
Comparing the interest rates offered from different lenders will be a good option to start with. The thing to be kept in mind about the personal loan is that if tenure is chosen for the longer period the EMI to be paid will be lesser. However, the condition is that one will have to pay more interest in the longer run. Whereas, if one opts for a shorter tenure, the amount needed to be paid in EMI will be higher. The good thing, though, is that the interest charges will be lesser. Checking out the monthly payment details using a personal loan EMI calculator is a good practice.
High drama was witnessed in Kanpur Dehat for over an hour when a man, upset over his wife's alleged affair with a local man, climbed the tower with his children and threatened to commit suicide. The incident took place on Monday near Gandhi Nagar in Akbarpur, when the man threatened to commit suicide after throwing his kids down from a height of nearly 40-feet. Chaos prevailed around the area and the locals informed the police that rushed to the spot.
After about half-an-hour of convincing, the police managed to bring him and his children down. The man told the police that his wife's affair was going on with his neighbor. He had complained to the police, but no action was taken. Police said that as per the man, his wife had developed an illicit relationship with a man, living nearby their house. "As per the man, in his absence, his neighbor visited his house often. He said that he had reprimanded his neighbor many times, but to no avail," said the police.
The man had complained to the police, but no action was taken. | Pixabay
The man had also lodged a complaint with the police but no action was taken. On the other hand, Akbarpur police said that on the basis of the complaint, action for breach of peace has been taken against the neighbor accused of luring his wife. Circle officer (CO) Akbarpur Arun Kumar said that the police are trying to sort out the issue. "Whatever action is appropriate will be taken," the official added. (IANS/SP)
(Keywords : Kanpur, Uttar Pradesh, man, wife, alleged, affair, children, India, police, neighbor, complaint, suicide, accuse, drama.)
The US forces continued their bombardment of buildings and institutions in Syria's northeastern Hasakah province, as part of their alleged manhunt of Islamic State (IS) fugitives, state news agency SANA reported. The US forces are shelling buildings and public institutions on Tuesday in the vicinity of the Sina'a prison in the Gweiran neighborhood in Hasakah "on the pretext of hunting down IS militants who fled the prison," said SANA.
The Syrian Foreign Ministry has slammed the US airstrikes as civilian casualties have been reported. | Wikimedia Commons
The shelling came in tandem with waves of raids by the Kurdish-led Syrian Democratic Forces (SDF) to homes in the surrounding areas, rounding up many civilians and taking them to unknown locations, the state news agency added. On January 20, IS inmates inside the Sina'a prison, which is controlled by the SDF, started a riot that was coordinated with IS militants from outside, who detonated the prison's gates with two booby-trapped vehicles, succeeding to free some prisoners.
The incident triggered clashes between IS and the SDF as well as US airstrikes on the areas, where the IS fugitives could have sought shelter in, Xinhua news agency reported. The clashes and airstrikes are still ongoing as the SDF has so far failed to contain the situation and storm the prison. The Syrian Foreign Ministry has slammed the US airstrikes as civilian casualties have been reported. Hasakah province is largely controlled by the US-backed SDF, while certain areas, particularly in the city of Qamishli, are still under the control of the Syrian government. (IANS/ MBI)
(Keywords: US forces, shelling, bombarding, syria, islamic state, civilian casualties, qamishli, tandem, syrian democratic forces)
The circulating avian influenza outbreaks, including in India, do not seem to pose the 'high' risk but surveillance and biosecurity measures are necessary to reduce spillover risk between poultry and wild birds, a UN-backed scientific task force said. Throughout the past autumn and current winter in the northern hemisphere, multiple avian influenza outbreaks, caused predominantly by the H5N1 HPAI virus, plus other subtypes, including H5N8, have occurred in India, the UK, the Netherlands and Israel with the ever recorded mortality of the Svalbard barnacle geese in Solway Coast.
The Scientific Task Force on Avian Influenza and Wild Birds, co-convened by the Convention on the Conservation of Migratory Species of Wild Animals (CMS) and the UN's Food and Agriculture Organization (FAO), on Monday recommended that surveillance and biosecurity measures are reinforced to reduce spillover risk between poultry and wild birds. The Task Force has convened and produced recommendations and guidance for authorities and managers of countries affected or at risk. Wild birds, including globally threatened species, are victims of HPAI viruses causing avian influenza. Affected sites also include areas of international relevance for conservation such as protected wetlands.
More than 2,400 migratory water birds died in the Pong wetlands in Himachal last year because of avian influenza. | Unsplash
It is essential that authorities with responsibility for animal health apply the One Health approach for communicating and addressing avian influenza. That means recognising the health of humans, domestic and wild animals, plants, and the wider environment and acting with a coordinated and unified approach. The Task Force reminds authorities of their international obligations to ensure their response to the pathogenic virus does not include the culling of wild birds, nor actions that would cause damage to natural ecosystems, especially wetlands.
Ruth Cromie, who coordinated the work of the Task Force and the production of the statement, said: "Avian influenza represents a One Health issue threatening health across the board. The highly pathogenic viruses are still relatively new in wild birds and this winter's high levels of mortality remind us of their vulnerability and that working to promote healthy wildlife benefits us all." H5N1 is currently the avian influenza lineage most found in Africa and Eurasia in both poultry and wild birds. The wide range of wild birds affected include wildfowl, waders, gulls, cranes, grebes, herons, pelicans, gamebirds, corvids and raptors (diurnal and nocturnal), in addition to sporadic cases in mammals such as red fox (Vulpes vulpes), Eurasian otter (Lutra lutra) and harbor Phoca vitulina and grey seal Halichoerus grypus.
Consider occupational exposure, e.g. those working on poultry culling operations. | Unsplash
In terms of human health, the currently circulating H5N1 HPAI viruses do not seem to pose the same zoonotic risk as the 'original' Asian lineage H5N1 (clade 2.2 and their derivatives plus clade 188.8.131.52b H5N6 viruses currently in China). In general, the risk can be considered low, recognising that some agencies now consider occupational exposure, e.g. those working on poultry culling operations, as low or moderate. In India, several instances of bird flu were reported in 2021. More than 2,400 migratory water birds, and almost half of them being endangered bar-headed goose, died in the Pong wetlands in Himachal Pradesh last year and that avian influenza (H5N1) was the cause.
Besides the bar-headed goose, the other species that died were the shoveler, the river tern, the pochard and the common teal. An 11-year-old boy died at All India Institute of Medical Sciences in Delhi last year due to avian influenza, country's first fatality. India reported the first outbreak of avian influenza in 2006. RSPB Scotland is calling for an emergency local moratorium restricting shooting on the Solway for the rest of the wildfowling season. It calls for urgent action to reduce the devastating impacts of avian influenza. New statistics from the most recent counts show that the UK is this winter experiencing the worst outbreak of this deadly disease on record, with migratory geese which 'over winter' on the Solway being the hardest hit.
According to RSPB Scotland, the latest population counts of the Svalbard barnacle goose show a drop in numbers from 43,703 in November last year to 27,133 in this month's count. This represents a decline of 38 per cent in the Svalbard breeding population of this species from winter 2020-21. CMS Executive Secretary Amy Fraenkel said: "Through late 2021 and early 2022 there have been numerous outbreaks of highly pathogenic avian influenza H5N1, with severe impacts on migratory birds. "The CMS Secretariat responded by convening the Scientific Task Force on Avian Influenza and Wild Birds together with the FAO. We are pleased to share its advice and key recommendations for countries affected or at risk, and look forward to continuing our collaborative work to minimize risks to humans, poultry and wild populations of migratory birds." (IANS/SP)
(Keywords : avian, influenza, surveillance, United Nation, scientists, breeding, population, birds, affected, countries, poultry, migratory, health, issue, virus, responsibility, international, ecosystem.)