Personal Loans are generally unsecured loans, disbursed by banks based on your personal and professional profile. Generally they come with a tenor of 24 to 36 months (repayment period on EMI basis); but at times, some banks might extend Personal loans for a still longer tenure up to: 48 or 60 months.
You can use a personal loan for acquiring anything under the sun- household improvements, computers, luxury items, repayment of credit card dues or repayment of other personal debts carrying a higher interest burden.

Requirements:

Salaried Individuals and Business persons can avail the facility depending on how they justify the requirement and based on their track record.
Address and Identity proof, employment proof, salary slips, bank statement, photographs, guarantors  (optional and if required).

Procedure:

• After collection of all the required documents, the bank starts processing the same.
• There will be a field visit at the residence/office of the applicant to verify the details.
• Loan sanction letter would then be issued after which security documents would be collected from the applicant, including some post dated cheques.
• Loan disbursement by way of direct account transfer or by way of a cheque.

Time frame:

Normally, personal loans are processed within 5-10 working days.
Contact Us for further guidance and to help you choose the right bank and the right product..

Home Loans:

Home Loans are the most popular of personal funding, throughout the world. Who would not like to acquire a home of their own. If you already own a home, why not try buying a new dream home!
While there are established Home Finance Specialist institutions like HDFC Ltd, LIC Housing Finance Ltd, REPCO, CanFin Homes, etc in the market, almost all the banks, both public sector and private, offer home loans.

Nature of Home Loans:

• For purchase of a plot of land and construction thereupon.
• For purchase of a residential dwelling unit (like a flat/apartment)
• For purchase of an independent house/villa
• For improvement of an existing home, by adding additional rooms, furnishing, painting etc.

Types of Home Loans:

• Fixed interest home loans and Floating rate home loans.
• Amortized home loans and Home equity loans
• Overdraft against property

In a fixed interest home loan, the ROI remains fixed throughout the tenure of the loan while in the Floating rate option, the interest rate is reset depending on the prevailing market rates.
Home equity loans are generally mortgage loans wherein a loan limit is set against the security of a property while amortized home loans entail monthly EMI payment and complete repayment of the loan over a period of time.
Overdraft against property is very suitable for businessmen, wherein they can avail a running overdraft against the security of a property.

Advantages of Home Loans:

• Long repayment period, typically 10 years, 15 years or 20 years.
• A host of tax benefits, for both the interest paid on the home loan and also repayment of the principal portion of the home loan.
• Convenience in repayment and rescheduling the loan, depending on one’s funds flow through the age cycle of an individual.

How to Decide on a Home Loan:

While it sounds attractive, sometimes it could prove to be tricky also, if all the fine print is not understood fully. The implications of choosing various options must be clearly understood before finalizing on the home financing institution and the product.

Here we are, to help you out in your decision making.

We can help you understand the various options available in the market and to choose upon the right one that will fit you.
Contact Us today- Because, by choosing the correct loan provider and loan amount, you not only save money, but also make Money, With No Worry!