Personal Loan and Its Different Advantages

A personal loan is an unsecured loan which is offered to a consumer for catering their various personal needs such as the renovation of a house, marriage, home appliances, buy vehicle amid others. This is offered after verifying one’s ability of paying especially the income source and also according to their credit history. A nominal processing fee will be charged and the sum as per a person’s paying ability will get credited to their account. In fact the loan payment is made via fixed installments which also includes interest and for fixed time periods. The icing on the cake is these days personal loans are a smart choice as one do not require going through a lot of formalities and tedious paperwork. Most of the financial institutions and banks offer personal loans today and the rate of interest is also quite reasonable.

Discover the different benefits

• Available easily- to get a personal loan is no longer a challenging affair. It is offered by almost all financial institutions and banks at a reasonable rate of interest. Compared to other loans it is convenient and easy to get

• No middleman or agent involved- for availing a personal loan one will not require taking the help of an agent or a middleman. This will avoid unnecessary expenses and delays. A person can approach the financial institution or bank for the purpose directly

• Unsecured loan- this is indeed an unsecured loan. Here no collateral security is needed for availing the loan. In fact, all that is needed is one’s ability of paying back the money.

• Less processing time- because it is accessible devoid of any guarantee or security the processing time needed to get this is naturally less compared to other loans

• All purpose loans- in this form of loan it is not compulsory for a person in specifying the reason for which they will be using the money.

• Minimum paperwork- to get a loan will not need any asset verification or other forms of certificates and proofs which include ample paperwork as none of one’s property is mortgaged

• Offers and schemes- different financial institutions and banks keep announcing offers and special schemes on personal loans, especially for the professionals such as architects, doctors, chartered accountants and the like

• Amount and tenure- these loans generally are provided varying from Rs 15000 to Rs 20 lakhs differing from one bank to another. The repayment can be made through EMIs

The bottom line is, rather than borrowing money from a credit card it is always better to choose a personal loan as the rate of interest is comparatively lower. So reap its utmost benefits.

Applying for a Personal Loan With Subpar Credit – What to Know

Anyone that finds themselves with multiple balances on credit cards that have high interest may consider looking for a personal loan with bad credit. This allows them to transfer those balances and take advantage of a lower interest rate to pay off their cards. Sadly, many banks will turn them down due to their credit. Thankfully, there are ways to get a loan that will help them save money, even with that low credit score.

Whether due to financial issues, job loss, or just striving to build a good credit score as a first time user it is difficult to get a loan. The way credit reports work is always changing and there are many factors that affect a person’s credit. It’s important to stay in the know about how to build it, and what your options are. There are likely more options than they think. Here are some ways to apply for and get a personal loan with bad credit.

How to Get a Loan with Bad Credit

Having zero credit or poor credit is a major issue when looking to secure a loan, because that person is viewed as a high risk customer who may default. It’s important to accept that until the credit score is raised, one won’t be able to enjoy the standard lending guidelines offered by big banks.

For anyone that’s been turned down for a loan or who doesn’t want to pay monstrous rates, here are some options:

Consider a Home Equity Line of Credit

If there is enough equity in owned property, it’s possible to secure a tax-deductible, low-interest loan or line of credit that can be used in any way. The only downfall is that many don’t want to tap into their home equity as it puts the property in jeopardy if they can’t repay it. However, with a steady income and a bit of discipline then this can be paid off and is a less pricey option no matter what the credit score!

Try and Apply to Credit Unions

Credit unions are so much better than a regular bank. That’s because they are member-owned. Usually they are founded by people who have something in common whether it be living in the same area, or working in the same profession. They are nonprofit and have a sole purpose of helping members. They offer great customer service and low fees.

Borrow from a Friend

Consider what’s called P2P or peer-to-peer lending. There are even sites online that let a person borrow from someone directly rather than a bank. This form of lending is getting very popular and is quite simple. It’s a winning situation for both investors who want to earn interest and borrowers who enjoy paying lower rates. It’s the perfect solution when looking to apply for a personal loan with bad credit. Current rates with P2P lending are as low as 6%. That’s far lower than most credit cards.

Family Loans

If an online peer doesn’t pick up a loan request, there’s always a chance a family member might. However, it’s more than important to treat a loan from someone in the family just as a professional loan. It should be documented and recorded. A written agreement should show the interest rate, terms of repayment and collateral that’s going against the loan. It should also lay out all the actions to be taken if the borrower does not repay.

What About a Co-signer?

If one is searching for a personal loan with bad credit and they don’t have a family member or a friend that is available to offer the loan, maybe they would consider co-signing. This is when someone who trusts that the borrower can repay the debt would take a chance on them and be a back up to repay the loan should that person default.

How Can I Buy a Car With Bad Credit?

According to an article in consumers affairs;

In general, it is better to go with a bank or an auto financing lender rather than the car dealership down the street that is offering a “buy here, pay here” deal. If you do wind up with a high interest rate on your car, work on rebuilding your credit score so that you can eventually refinance.

If you suddenly find yourself without a car you might be asking, “How can I buy a car with bad credit?”, well, You DON’T! I know not having a ride can be a problem, like how do you get to work, or what if you want to go out? Well as far as getting to work goes, see if a work colleague lives near you and chip in on some gas for a ride. As far as getting out from time to time, there’s always Uber.

You want to give yourself a few months to save up some money and pay cash for a vehicle until you can get your credit to a point where you can get a 6% or less interest rate. Your choice of vehicle will be better and the total cost for the vehicle will be a lot less.

Another problem with buying a car with bad credit that most people forget is car insurance. Your insurance premiums unfortunately are also based on your credit score. The combined monthly cost of your car and insurance could be challenging. Again, waiting until you have a good credit score will save you on insurance as well.

Here is an example based on $35,000.00 vehicle purchase at 20% versus 6% on a 5-year loan.

$35,000.00 at 20% interest you will pay over $15,000.00 in interest at 6% you will pay approximately $5,000.00 in interest. Quite a difference.

Your total cost for the vehicle is about $15,000.00 less in interest at 6%, and your monthly payment is approximately $250.00 less per month!

OK let’s play a little game, what if you took that $250.00 per month that you’re NOT paying in interest and invested it each month over the same 5-year time period with a 6% return?

Well you end up EARNING $3000.00 instead of PAYING $15000.00. I’d say that’s a pretty good argument for doing everything you can to avoid a high interest car loan.

Instead, put ALL your resources into getting your credit fixed. This will put you in to position to buy at a good interest rate with minimum money down. This will save you a ton of money and you won’t regret it!

Buy a new car or even a used car is never a good investment, but one you can’t avoid. Buy a car with bad credit, as you can see, is yet a worse scenario. Make sure you do whatever it takes to avoid this costly mistake.

If you considering purchasing a car in the near future and have some credit challenges be sure to check with one of our Credit Experts to see how you can improve your credit for the best interest rates and no money down options.

Bad Credit Auto Loan: A Way to Repair Your Credit Score

Having a car has become a necessity in today’s fast growing world. But to obtain a car you need a good credit score. What do you do when you know that it is not as good as it should be and you find yourself in a tight spot financially? The first thought that comes to your mind is whether you will qualify for an auto loan. And, why would a lender approve loan application of an individual who has a spotty credit score? But the good news is that you can get a bad credit auto loan.

What is a Bad Credit Auto Loan?

The simplest definition is that you can get money for buying a car with a bad credit score. A credit score depends on your ‘creditworthiness’. So when you have a bad credit score, getting an auto loan becomes difficult because a lender thinks that you are unable to repay your debts. Today, owing to online services many lenders offer attractive interest rates on a bad credit auto loan providing the borrower a sigh of relief!

It’s no Picnic!

Getting an approval for a bad credit auto loan is no picnic. It means that when your credit score is not in your favor, it becomes difficult to get approval. But, with the following guidelines, approval becomes easy:

· When your credit score is in question, don’t assume that it must be bad. The wise way is to check it yourself.

· It is the best time to shop around for a bad credit auto loan. Many lenders see borrowers with credit issues in a positive light. So it is important to shop around in order to make the right decision.

· Go online! Various loan options are available online which not only suits your needs but also offer you best interest rates.

· Consider a co-signer. A co-signer provides the security which lenders are looking for in a loan application. Your co-signer’s financial condition should be good in order to compensate for your low score.

Different Lenders have Different Viewpoints

Something that is multifaceted can be looked at from many points of view, with each point of view showing something new.

· You don’t have to worry about your credit score since the lenders are not going to looking at it. Instead, the lenders will look at how likely you will pay off the loan in future.

· The approval rate for a bad credit auto loan is higher than other conventional loans.

· It gives you an opportunity to improve your reputation. If you make timely payments, it can provide you with a chance to build a stronger financial standing.

On the approval of a bad credit auto loan, you will now have the money to buy a new car. You will have fixed interest rate and monthly payments. So now when you make the payments on time, it will not only repair your credit score but also build a good reputation with the lender.

When your credit score is not good, Online bad credit auto financing is the perfect way to buy a car. Apply with EZ Auto Finance and the online loan expert will help you to become a proud owner of your favorite car. Also, it will enable you to obtain no down payment auto loans.

How to Create a Standout Personal Branding Statement for Your Resume

Many job seekers don’t understand just how important their personal brand is when trying to outline their capabilities as a candidate. Your personal brand, if clearly defined, tells an amazing story of what you’ve accomplished in your career – and what you can hope to accomplish in the future.

There are a number of ways to go about branding yourself, including giving yourself a title, creating online profiles with LinkedIn and other social networking sites, and even starting an industry-centered blog. But in your resume, you can showcase your brand by creating a 2- to 3-sentence personal branding statement that acknowledges the benefits you can bring to a company.

So how can you create a standout personal branding statement on your resume?

Pinpoint Your Greatest Career Moments

As a professional, you have not only completed day-to-day tasks but probably have had some very impressive moments that you would love to brag about. Your personal branding statement is the perfect place to let your moments shine.

For instance, if you are a journalist/reporter, you could share skills that make you a viable candidate-while throwing in some accomplishments that other candidates may not be able to share. Here is an example of a journalist’s personal branding statement:

“Award-winning journalist with 10 years of experience covering fiscal budgets at the national level while working with affiliates and bureaus in state investigations.

Of course, this personal statement highlights a person who has had amazing accomplishments in his career. But your own accomplishments can sound great – if expressed properly.

Think About What the Employer Wants

Keep in mind, pulling together all of your greatness won’t mean very much if you end up branding yourself in a way that doesn’t relate to the job for which you’re applying. This is why it’s important to take a good look at what the company wants in a candidate.

Explore the job posting thoroughly to see which qualifications and requirements the employer wants. Then take it a step further by contacting human resources (if possible) to learn more about the position. Learning more about the job can help you sculpt a branding statement that meshes perfectly with the employer’s hopes for a qualified candidate.

Remember, your personal branding statement is all about making the right first impression, so pack at least three great highlights into the description. When complete, it should not only accurately define who you are as a professional but encourage the hiring manager to strongly consider you as a candidate.

Jessica M Holbrook, expert resume writer, is a nationally-recognized resume authority and former HR Manager who has achieved over a 99% success rate securing interviews with prestigious organizations through exclusive, personal branding strategies. The President/CEO of Great Resumes Fast, she and her team partner with professional- and executive-level candidates.

Your personal brand statement is as unique as you are and having a compelling and exciting statement will open business doors for you like nothing else will. Your statement should connect you with whoever reads it.

Before you can start to build your brand identity, your jumping off point must be your personal brand statement. Once you have a statement that draws people to you and your business, you can start to build your exposure and reputation online. All of the other elements of your reputation, such as your elevator pitch and biography, will begin with your personal brand statement.

What is a personal brand statement?

Your personal brand statement is a brief statement that definitively states what you excel at, which audience you serve, and what makes you stand out among your competition. It is a statement of your unique value promise. Your statement must be unique to you and only you. It should also be consistent with what you actually do. You should think of it as a doctrine that you keep returning to in order to continually working toward greater perfection.

One thing that a personal brand statement is not is a job description. Your job title is how other people describe you, including employers who have a desire for you to fit whichever positions they are attempting to fill.

Your personal brand statement is not is a mission statement, your purpose in life or your career objectives. It is a statement that has the sole purpose of marketing your business and your brand. It should be a statement that other people can remember easily and it should make people understand that you have a solution to their problems.

Why do you need a personal brand statement?

One question that you must be asked very often is what do you do? Do you get the impression that people truly understand what you do? If you think about how you respond to that question you may discover that your answer to the question is not buttoned up enough to eventually be in the position of doing business with some of those people.

Think about your business. The chances are very great that you are not the only person who does what you do. That is not important. What is important is what is your edge over your competition. If you don’t have an edge, you need to ask yourself why and you need to come up with something that places you above all of your business competitors so that people will want to buy what you are selling instead of what anyone else is selling.

How do you write a personal brand statement?

The first thing that you should do is to list your business and career attributes on a piece of paper. Once you have completed your list, take a hard look at it and choose those items on the list that really make you unique. Those items will be your unique selling points (USPs). Once you have identified your unique attributes and values, you need to write a one- to two-sentence brand statement. Your statement must answer the following questions:

What value do you provide (in other words, which problems do you solve)?
What is unique about what you do (your USPs)?
Which target audience do you provide value for?

The communication in your personal brand statement must be clear, concise and meaningful. You shouldn’t clutter your statement with words that are not really important. Your statement must ensure not only that you provide a unique value but that your value is in the most appropriate context as well. What may be of value in a large setting, for example, may not hold the same value in a small setting.

Focus on your target audience

Make sure that you don’t spread yourself too thin when it comes to your target audience. If you do make that mistake, you won’t be able to come across nearly as effectively. Being a generalist when it comes to personal branding is not recommended. People want to feel that they are being catered to by you on a very personal level. Your focus should be narrow and very specialized. You need to identify which target audiences would benefit the most from your products and/or services and go after that audience.

Make your personal brand statement memorable and catchy

Your statement should have simple language. The last thing that you want to do is to intimidate your target audience. Whenever you meet someone new, be sure to make an impression on that person that will stick with them. Your goal is not only to have that person remember you but you also want him or her to tell other people about what you do.

Be sincere

Your personal brand statement should be real and sincere. Don’t ever pretend to be someone you are not in your statement. The way that you will effectively build relationships with your audience members is by proving to them over time that you are a subject matter expert and that you really know what you are talking about. You can’t tell them that you are a credible person. You need to let them figure it out for themselves.

Your statement may change over time

Over the course of time, your statement may change and grow as you and your business change and grow. However, be careful that you don’t completely overhaul your statement every week. It is OK to make subtle changes but you never want to give the impression that you are fickle and are not really sure what you are doing.


Your personal brand statement is a critical part of your business identity and reputation. You can think of it as the first tool in your arsenal from which you build all of the other tools that will contribute to making you and your business a tremendous success. Now is the time to write an extraordinary personal brand statement that will speak volumes for you and your business.

Why Your Resume Needs a Personal Brand Statement

Resumes get less and less attention as technology improves. Employers and hiring managers will read them on the go using their smart phones or fly through hundreds of resumes a day using an Applicant Tracking System. Many hiring managers only devote 10-15 seconds to each resume. For that reason, it is essential to utilize the prime real estate at the top of your resume.

A simple career objective only tells employers what you want to do and does little to capture their interest. An executive resume should involve a personal marketing strategy and the first step in any marketing plan is to think of your audience’s needs, not your own. A personal brand statement will set you apart from other qualified candidates competing for the same medical device job.

What is a Personal Brand Statement?

A personal brand statement explains your unique value and your target audience. It should also give the reader a feel for your personality. Again, you are capturing the hiring manager’s attention by setting yourself apart from other candidates through interesting language and unique value.

Ideas for creating your own statement: Your statement should be 1-2 sentences in which you explain what problems you solve (your value), how you uniquely do so, and who your target audience is. A note to medical device professionals, sometimes the “audience” you serve will a specific technology (engineers) and other times it could be a type of surgeon or physician (sales/marketing).

Focus on your niche market: In the medical device industry, experience with specific technologies is a unique value. A few weeks ago we had a search for an engineer with imaging experience and experience with moving parts. The majority of resumes I read did little to explain niche experience and merely listed the companies the candidate had worked for. The one resume that stood out explained the candidate’s relevant experience at the top of his resume and he became a finalist for the position.
Keep it Memorable: Shorter is better, and avoid complicated language if you can. You want the reader to remember what your statement is and pass it on to others. The easier it is for others to explain what you do, the more successful your brand statement.
This is not a Job Title: Job titles are what you are given once you are hired. A personal brand should set you apart from the rigid rungs of the career ladder, so focus on your tangible value rather than positions you have held. That said, engineers require certain “titles” since companies want to know whether you are an electrical engineer or a mechanical engineer etc.