Outlook Money
In case of emergencies, some alternatives to a personal loan with low-interest rates can be explored.
Gold Loans are reliable to borrow in emergency times. These loans offer different choices, such as paying all the interest at once and settling the principal amount later
Having a fixed deposit with a bank can help avail a loan against it.
Individuals who contribute to a Public Provident Fund (PPF) account can consider taking a loan against it.
Some employers offer salaries in advance. This allows to borrow money against the future salary at a lower interest rate or sometimes even interest-free.
Small business owners and entrepreneurs can avail loans at low-interest loans through Pradhan Mantri Mudra Yojana.
Compiled by Syed Muskan