Loan

• Tie up with various MNC Banks, PSU’s & National banks.
• Free expert advice related to the most beneficial loan
• Free door step service for proper documentation.
• We improve the loan credit score as per the bank’s requirement.
• Fast coordination and relationship with the banks for making prompt loan approval.
• No fee for eligible customer who have proper documentation.
• For non eligible customer, consultancy fee depends on case to case basis after loan approval.

What is the difference between a home loan, mortgage loan and a loan against property?

Home loans

• are essentially loans given by the bank for the purpose of purchase a home or a residential property.
• Banks give the loan but the home or property is served as collateral to secure the loan.
• In case of non-payment or default, the bank can liquidate the property and get back its used loan amount.

Mortgage loans

• are loans in which the loan applicant is supposed to give a property or any security as mortgage.
• The mortgage can be land or assets like gold, securities, insurance etc.
• There are very few mortgage free loans, one example being personal loans. Most other loans require a mortgage or security to facilitate a loan request from the bank or NBFC(non banking financial companies). Home loan is a type of mortgage loan.

Loans Against Property

• The loan is given against a property which is held as a security.
• Loan can be against any property of the loan applicant and not necessarily against a residential property.
• It can be facilitated by mortgaging any property which stands in the name of the loan applicant.
• Here, the amount given as loan is irrespective of purpose and can be used for any immediate financial requirements, unlike a home loan.

Which property is eligible for a home loan?

• Residential house
• Flat
• Shop
• Dwelling Unit Property
• Commercial Building
• Industrial Property / Factory
• Plot of Land
• Home construction / Renovation

How is home loan eligibility calculated?

Home loan eligibility is calculated on the basis of person’s net income. More judging factors are :

• CIBIL Score
• Repayment Record
• Liabilities
• Assets
• Presents Debts
• Minimum and maximum loan amount cap.

What is CIBIL Score?

A Credit Score or CIBIL TransUnion Score is a three digit numeric summary of your credit history. The Score is derived using the credit history found in the CIR (Credit Information Report). A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time. CIBIL TransUnion Score ranges between 300 and 900.

Which property is eligible for a Loan Against Property?

• Residential house
• Flat
• Shop
• Dwelling Unit Property
• Commercial Building
• Industrial Property / Factory
• Plot of Land
• Nursing Home
• Hospital
• School
• Institute
• Hotel & Guest House
• Lal Dora Extended Property (If abaadi certificate issued & N.O.C. available from tehsildar)

For what purposes can a Loan against property be availed?

A loan against property can be taken for the below listed purposes:

• Business Expansion
• Child’s higher education
• Child’s marriage
• Funding vacation
• Funding Medical Treatments

What do you mean by Balance transfer?

A home loan balance transfer simplifies the switching of existing loan from one bank to another bank for any reason:

Reasons may be:

• Top up the existing loan
• Lower interest rate

Who is eligible for a Home Loan Balance Transfer?

Any existing loan customer not over the age of 60 and 65 years in case of salaried and self employed individuals respectively can apply for a loan balance transfer. He must have a track record of past 12-18 months of unbroken chain of EMI payments on the loan. Additionally, a lender may require a clear credit history and decent CIBIL Score.

What is overdraft limits?

An Overdraft facility may be said to be a type of promised modern loan facility granted by a bank to its existing customers against their fixed assets like machinery, fixed deposits, property etc. which the customer can use whenever required irrespective of its date of approval.

What is need of Overdraft limits?

A person does not always possible to get a loan approved as instantly as one is requiring for short term needs. The interest on an OD is calculated on a daily basis and that too only on the outstanding balance. If the customer is not using the overdraft limit, then there is no interest liability over the customer.

How can an Overdraft be approved?

Applying for an OD facility is quite similar to applying for any loan. The required set of documents is almost the same; all an applicant has to provide in extra is the collateral against which the bank will approve the facility.