A revolving personal loan is a credit facility that lets you borrow, repay, and redraw funds up to a preset limit—much like a credit card. Once approved, you can access money as needed; your available balance replenishes as you repay. Interest is charged only on the amount you draw, not on the full credit line. Unlike installment loans with fixed EMIs, revolving loans offer flexible repayments and multiple withdrawals during the loan term.

Key Takeaways:

Your CIBIL score reflects your credit behaviour and is updated monthly to give lenders the most accurate view of your repayment history. Staying on top of when and how updates happen helps you manage your credit health effectively.

Small and Medium Enterprises (SMEs) across various sectors are eligible for SME loan schemes in India. Banks, NBFCs, and government-backed programs like CGTMSE and PMEGP support a wide range of industries under the SME category.