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Loan can be defined as the fixed amount of money that the borrower has to return to its provider with interest as per deal terms and condition. In modern era, individuals take loan from authorize bank or financial organization as per their interest and need to fulfill their various important tasks.
Bank and financial organization offers different loans types such as personal loan, home loan, education loan, vehicle loan, crop insurance and several others. These loans resolve instant need of money and provide you instant help. Applying for loan becomes even better and secure with the help of technology and to get instant loan online is easier than ever before.
As it is understood that loan is a kind of debit and to use that user need to pay interest as per condition of respective service provider and there regulation. In most of the cases people apply for loan to fulfill all needs regarding their personal and business oriented needs. After tenure, applicants need to repay the complete amount. Money is one of the integral parts of everyone life and it can be required in any phase of life.
Application regarding availing loan on certain amount mostly rely on requirement of individual. Loan amount may be large, medium and small. User will always find some difference between the amount he applied and what amount approved by respective bank. In most of cases, bank follows strict regulation and policy before approving the amount as per request made by individual.
Money has become among the top basic needs to survive a life for any individual. “Roti, Kapda, Makaan” still tops the list, but as a matter of fact, these needs cannot be fulfilled if one doesn’t have enough pennies in their pocket. With the inflating market prices of anything and everything, it has become quite a challenge to manage the needs and desires with the limited finances. This is when loan comes to the rescue.
Today, it is no more a surprising thing if someone borrows money or loan from the bank. However, every coin has the two aspects, while loan provides financial aid to the individuals, there are people who don’t hold enough knowledge about the process to apply for a loan offline or online. Therefore, they become easy prey to bluff masters.
|Proof of Identity||Proof of Address||Proof of Income(Self Employed)||Proof of Income(Salaried)|
|Aadhar Card||Aadhar Card||Bank Statement||Bank Statement|
|PAN Card||Ration Card||ITR Statement||Salary Slip|
|Voter's Id||Rental Agreement||-||Employment Letter|
|Driving License||Telephone Bill||-||-|
Individual look for this loan when he need money for buying consumer durable things, child education, holidays, hospital bills, personal needs, wedding purpose and several other occasion to get instant solution of financial issue. It can be said that this type of loan used for personal instant need to keep your life simple.
Before applying for personal loan check your eligibility, age, monthly income and other useful facts.Personal loan amount can be INR 10000, 20000, 30000, 40000, 50000 and any bigger amount as per need of individual to complete the task with ease.
|Providers||Interest Rate||Processing Fee|
|Axis Bank||11.75% - 24%||
1.50% to 2.00 % + GST as applicable
|ICICI Bank||10.99% - 17.99%||
Up to 2.25% per annum of Loan Amount plus GST
|TATA Capital||11.99% - 18.00%||Up to 2.00%|
|Punjab National Bank||11.30%-15.05%||1.80% of the Loan Amount|
|State Bank of India||11%-15.4%||1% of the Loan Amount|
Up to 3.99% of the Loan Amount
|Fullerton India||20% to 49% per annum||Upto 6.5% of the loan amount|
|IndusInd Bank||11.29%-17.99%||Upto 2.5% of the loan amount plus tax|
|Citibank||10.99%-14.25%||Decided by the bank on the basis of loan amount and eligibility criteria|
|HDFC Bank||11.25% to 18%||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,999/- & Maximum of Rs. 25000/- for Salaried customers|
|Kotak Mahindra Bank||10.99% to 19.5%||Up to 2.5% of the loan amount + GST and other applicable statutory levies|
|Standard Chartered Bank||Decided by the bank on the basis of loan applicant’s Credit history and repayment capability||Upto 2.25% of the loan amount|
|HSBC Bank||10.99% p.a. to 17.5% p.a.||Up to 2.5% of the disbursed loan amount|
|Bank of Baroda||11.65% and above||2% of the loan amount|
|Central Bank||MCLR (12M) + 3.00%||Rs 500 + S.T|
|Corporation Bank||12.95%||1.50% of the loan amount subject to a minimum of Rs.500/-|
|UCO Bank||11.4% - 12.8%||1% of the loan amount (min. of Rs. 750)|
|Bank of India||
Fully Secured: 1 year MCLR + 4.50%
Clean/Unssecured: 1 year MCLR+5.50%
For citizens aged 60 & above for loans Up to Rs 50,000 : 1 year MCLR + 3.50%
Financing secured under tie ups arrangements: 1 year MCLR + 4.50%
|One time @ 2.00% of loan amount Minimum of Rs 1000 and Maximum of Rs 10,000|
|Dena Bank||13% to 14%||1.00% of the loan amount|
|RBL Bank||12.99% - 16%||Decided by the bank on the basis of loan applicant’s Credit history and repayment capability|
|Allahabad Bank||MCLR + 4.50%||1.60% of the Loan Amount, minimum amount Rs 1068|
With Salary tie-up: 13.00%
Without salary tie-up: 14.00%
For BSNL Employees: 11.00%
|0.5% of the Loan Amount subject to a minimum of Rs 1000/- and maximum of Rs 5000/-|
|IDBI Bank||12.00% to 14.00%||1% of the Loan Amount|
|Bank of Maharashtra||12.75%||1.00% of the Loan Amount (Min.:Rs.1000/-)|
For state and govt employees:
For Private employees, non salaried:
|Yes Bank||10.75% to 16.99%||Up to 2.50% of the loan amount subject to a minimum of Rs 999/- plus taxes|
Unsecured: 1 year MCLR + 4.85% p.a.
Secured: 1 year MCLR +3.85% p.a.
|0.50% of the loan amount with minimum of Rs 500/-|
One year MCLR Rate is 8.55%
V Cash for Pensioners:
|0.75% of the Loan Amount + GST|
Where Check off facility and undertaking
Where Check off facility and undertaking
|0.51% on the Loan Amount with a
maximum of Rs. 510
|Union Bank of India||
Under Tie ups
Non tie up: 1 year MCLR+5.00% (Floating)
0.50% of the total Loan
Amount, subject to minimum of Rs 500, plus applicable GST
|Federal Bank||11.49% to 14.49%||
Decided by the bank on the basis of loan amount and eligibility criteria
|Capital First||Varies from customer to customer||As per assignment|
|IDFC Bank||11.49% to 14.49%||
Decided by the bank on the basis of loan amount and eligibility criteria
Note: The statics provided in the table are indicative subject to change from time.
Home loan is amount that is borrowed by individual to purchase home from any authorize bank or financial intuition. Banks have their own criteria and guideline to approve a home loan. If someone is looking to get home loan then he must explore the best offers. Always remember one thing about home loan is that do your complete analysis and survey about that particular offers.
Always go with offers which offer lowest interest rate. As, we all know that interest rates of bank changes regularly as per guideline of Reserve bank of India. There are two factors which play vital role in final approval of a home loan. One of them is always selecting your monthly EMI as per your monthly expenses and another one is that rate of property is not going to be decrease in near future.
|Name of the Best Banks|
|Abhyudaya Co Operative Bank Home Loan||HDFC Bank Home Loan||Reliance Home Finance Home Loan|
|DHFL Home Loan||PNB Housing Home Loan||Yes Bank Home Loan|
|Federal Bank Home Loan||Punjab National Bank Home Loan||RBL Bank Home Loan|
|Dena Bank Home Loan||LIC Housing Finance Home Loan||Uco Bank Home Loan|
|Allahabad Bank Home Loan||HSBC Bank Home Loan||Saraswat Bank Home Loan|
|Andhra Bank Home Loan||ICICI Bank Home Loan||South Indian Bank Home Loan|
|Axis Bank Home Loan||IDBI Bank Home Loan||Standard Chartered Bank Home Loan||Bank Of Baroda Home Loan||Indiabulls Home Loan||State Bank Of Hyderabad Home Loan|
|Bank Of India Home Loan||Indian Bank Home Loan||State Bank of India Home Loan|
|Bank Of Maharashtra Home Loan||Indian Overseas Bank Home Loan||State Bank Of Mysore Home Loan|
|Canara Bank Home Loan||IndusInd Bank Home Loan||State Bank Of Patiala Home Loan|
|Central Bank Of India Home Loan||Jammu Kashmir Bank Home Loan||Sundaram Finance Home Loan|
|Citi Bank Home Loan||Karnataka Bank Home Loan||Syndicate Bank Home Loan|
|Corporation Bank Home Loan||Karur Vysya Bank Home Loan||Tamilnad Mercantile Bank Home Loan|
|Cosmos Bank Home Loan||Kotak Mahindra Bank Home Loan||Tata Capital Home Loan|
|Deutsche Bank Home Loan||Muthoot Finance Home Loan||Union Bank Of India Home Loan|
|Dhanlaxmi Bank Home Loan||Oriental Bank Of Commerce Home Loan||Vijaya Bank Home Loan|
|Bajaj Finserv Home Loan||India Infoline Finance Limited Home Loan||State Bank Of Bikaner And Jaipur Home Loan|
Any financial amount that someone borrows for commercial purpose is business loan. This type of loan helps organization to resolve instant financial issues and help to consistently work for your business growth. In India there are plenty of authorize financial institution and banks that provides loan financing facility for small and major corporate sector companies.
Major corporate houses use different approach to get business loan form financing organization. Before granting loan to companies, banks ask them to complete the procedure of getting loan. Its good to explore the best plans and their condition to avoid any future conflict.
If someone borrows money for their child basic or higher education then it is known as education loan. Main benefits of this loan are that it is completely tax free and all eligible candidates may easily apply and avails this money. Respective individual may use this amount for their higher education not only in India but in abroad too. After the completion of education amount can be easily repay to respective bank or financial organization. As we know that cash advance is another popular name of loan or borrowed amount.
While on one hand, government is launching schemes to promote right of education, on the other hand, education costs continually soaring to sky, leaving aspiring students in the wake while pursuing their educational dream. Education loan comes as a great relief to aspiring candidates who wish to pursue higher degrees, but, cannot afford their fees in full.
The Education Loan market is very mature today and there are plenty of options available for students to choose from including Public Sector Banks, Private Banks and NBFCs. There are several banks and non-banking financial institutions that offer education loan at affordable interest rate and wider loan coverage. No collateral is required against the loan, though, parents/guardians assures of timely loan repayment.
If loan is borrowed against the mortgage of property then this amount can be easily known as loan against property. In another term it is known as secure loan because banks avails this loan against the security of your property. Loan against bad credit can be easily avails by the respective individual and applying online for loan is of the most convenient approach these days.
As the name suggests Loan against property is the loan where an applicant can avail loan or credit by mortgaging the property. Several banks and financial institutions are offering such kind of loans with competitive features and benefits. The banks provide loans at a certain percentage of the market value of mortgaged property and this can be up to 50 to 65%. It is a secured loan and is offered at low interest rates compared to other secured and unsecured types of loan.
It will be approved on basis of personal asset of individual or any organization. One of the most sticking feature of this loan is that interest rate will be applicable only when someone borrow amount from account. User need to pay amount on basis of certain tenure and it is easy to afford, as per individuals personal financial condition.
Borrowing loan against saved gold is one of the easiest of loan availability. One of the major benefits of this loan is that there will be no need of credit score and at the same time loan provider never ask for previous credit history and bank statement. They just approve amount on basis of current financial condition only value of gold is important not any other factor. As per policies bad credit and poor credit of applicant matters a lot but not for this loan.
According to several surveys, India own nearly 11% of all gold in the world and this percentage is more than the combined gold reserves of IMF, U.S., Germany, and Switzerland. Of course, we don’t need any introduction to gold that it is a precious metal as we all own though in different quantity.
With the rise in gold rates, it is also considered as one of the great methods of investment. Going with the expanding gold market, several banks and financial institutions have came forward offering gold loans.
When someone plan to buy new car for their family members especially for your parents, in case of any financial circumstances, individual prefer to borrow amount to buy car. Loan offering company gives plenty of times to respective person to repay the amount. Sometimes it is known as auto loan. Customer just needs to repay amount as per approved EMI on monthly basis to complete the repayment cycle on time.
The days when a whole family use to travel on a single bike or scooter are long gone as today it is quite affordable to own a four-wheeler. Even the middle class family can now afford owning a car. Undoubtedly, banks and financial institutions have made it possible by offering customized car loan offers to every income class.
Car loan has become an increasingly most popular way to prefer the comfort and safety of four-wheelers. With the increasing demand, banks and other financial lenders are competing with each other to win the customer by offering best competitive interest rates and other terms and conditions. However, with an abundance of choices, it seems challenging to pick the best car loan with the best interest rates and flexible EMIs along with other terms. Since the choice completely depends on individual circumstances, there are certain factors to be compared while getting a car loan.
Gone are the days when taking a loan was a taboo in Indian society. Today, despite having a good financial management, it is common to take a loan in order to bridge the gap between income and expenses. Therefore, it is no doubt to mention that cash crunches are common these days and as expenses never come invited, anyone can need a loan at any point of time. Be it a medical emergency or some repairs, it’s hard to predict when all such additional expenses can occur. This is where short term loans come as a convenient solution to meet all such expenses without shaking the fixed deposits or bank balance.
So, before you get one, it is important to first get a brief understanding about what are short term loans?
Well, we all are quite aware and familiar with the terms like loans and credits, and short term finance is no different term. Thus, it can be simply defined as the amount borrowed for a shorter tenure period, usually for less than a year. However, the tenure period or terms may differ from lender to lender.