Why choose a Reliance Bank Loan?

• All their rates are guaranteed fixed rates – your repayments will not change
• Rates as low as 9.9% APR
• Loans for refinance of debts could be charged at a higher rate
• Loans over £10,000 are available to homeowners only
• You can borrow from £500 to £20,000 (subject to status)
• You can repay over 6 months to 5 years
• No security required
• No early repayment charges
• No payment protection insurance required
• A simple application form to complete
• They will normally give you a decision in 24 hours from receipt of your application
• Funds will be credited direct to your nominated bank account
• They would not make any claim on the borrower’s estate in the unfortunate event of the borrower’s death up to the age of 65.

As a general indication you can apply for a Reliance Bank Personal Loan if you:

• Are aged 18 or over
• Have a regular income
• Have managed your previous financial commitments without any problems
• Are resident in the UK

Eligibility

Student Eligibility :

• Indian citizen
• Secured admission to the concerned institute in India or abroad through an appropriate selection process and cleared the qualifying examination,if any

Courses Eligibility(Indicative List) :

a. Studies in India

• Graduation/Post-Graduation
• Professional courses
• Management courses

b. Studies Abroad :

• Graduation: For job-oriented professional or technical courses offered by reputed universities
• Post-Graduation: MCA, MBA, MS and such other courses
• Courses conducted by CIMA, London, CPA, USA., and such other institution

Expenses Considered For Loan

• Fee payable to Institute/Hostel.
• Examination/Library/Laboratory fees
• Purchase of Books/Equipments/Instruments/Uniforms
• Caution Deposit,Building Fund/refundable deposit supported by Institution Bills/receipts,subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
• Travel Expenses/passage money for studies abroad
• Purchase of computers-essential for completion of the course
• Insurance premium for the student borrower
• Any other expense required to complete the course, such as, Study Tours,Project Work,Thesis, etc.

Quantum Of Loan

Need-based finance subject to repayment capacity of the parent or student with margin and upto the following ceilings

• For studies in India – Up to Rs. 10 lacs
• For studies abroad – Up to Rs. 20 lacs

Margin

• No margin for loans up to Rs. 4.00 lacs . However, for loan of higher amounts, the margin requirement is 5% for inland studies and 15% for studies abroad.
• Scholarship/assistance to be included in margin.
• Margin maybe brought in on pro-rata basis as and when disbursement is made.

Repayment

• Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier.
• Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.

Collateral Security

• Upto Rs. 4.00 Lakhs : No collateral security required
• Above Rs. 4.00 Lakhs and upto Rs. 7.50 Lakhs : no collateral security required. A suitable third party guarantee is required.
• Above Rs. 7.50 Lakhs : Collateral security of suitable value is required.

Insurance

• Life insurance of the borrower is compulsory to the tune of Loan Amount

Conditions

• The Parent/Guardian of the student who is availing loan needs to join in as co-obligator/joint borrower.
• Loan will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the parents.

In order to get housing from HDFC Bank you need to follow the following procedure:

1) Get ready with all the required documents, For giving the housing loan the bank mainly asks you the documents such as income proof and residence proof so get ready with them.

2) After having the required documents in hand go to your nearest HDFC Bank branch office, By going their you can simply fill the housing loan application.

3) If you filled and submitted the application perfectly then you can get the housing loan from the HDFC Bank in just 4 to 5 days. The  HDFC Bank loan approval is very speedy.

The Allahabad Bank’s home loan is best suited for Permanent salaried employees, Professionals & Self-Employed Persons, Businessmen, having regular income to liquidate the loan.

Purpose:

Allahabad Bank gives home loan for purchasing house from Development Authority of any Govt. recognized agency i.e. HUDA, HOUSEFED and construction of residential house thereon.

The Allahabad Bank home loan can also be availed to furnish unfinished or old house (maximum 20 years old), renovation or addition of another floor to the existing house, etc.

Eligibility:

Allahabad Bank Home Loan may be sanctioned to those who have regular income sufficient enough to liquidate the loan along with interest within stipulated period of repayment. The employees who have availed of home loan from their own organizations may also avail of loan from the Bank.

Loan amount:

1) In case of salaried persons: The loan amount will be restricted to 60 times of monthly gross salary last drawn subject to the condition that it is within the project cost less stipulated margin and Total deductions including EMI of proposed loan should not exceed 40% of the Gross monthly salary of the applicant.

2) In case of others: The loan will be restricted up to 4 times of gross Income average shown in last 3 years Income Tax Assessment Order/ acknowledged copy of income tax return subject to the condition that it is within the project cost less stipulated margin and Total deductions including EMI of proposed loan should not exceed 40% of the Gross monthly income of the applicant as per IT Returns.

Under this scheme Professionals and Self-Employed Persons can avail the loan from Bank of Maharashtra to purchase equipment/ repairs/renovation to existing equipment, purchase of tools, working capital requirements, acquiring/repairing business premises.

Eligibility:

Doctors, Dentists, Chartered Accountants, Cost accountants, Lawyers, Solicitors, Engineers, Architects, Surveyors, Construction contractors or Management Consultants or to a person trained/qualified/skilled in the chosen vocation/field in which employed, “the bank extends finance under its own facilities and even under the Govt. sponsored schemes.

Amount:

• Depending upon the assessed requirement considering financial viability, repayment capacity etc.

Margin:

• Generally 25%, which can vary according to requirement and assessment.

Security:

• Assets created by the Loan to be charged to the bank and other collateral security.

Repayment by EMI:

• From short term to period generally ranging up to 5 years.

Processing fee:

• 1% of the loan for amount above Rs 25,000/-.

Special Features Of Axis Bank’s Loan Against Shares

1. Overdraft facility against single and combination of scrips
2. Interest charged on actual amount utilised – no EMI or post dated cheques required
3. Shares can be pledged from any Depository Partcipant across the country
4. Special scheme for Axis Bank Priority and Wealth customers
5. Cheque book facility

• Education
• Business
• Marriage
• Purchase or improvement of property
• Medical treatment or any other personal need.

Maximum amount possible is Rs 500,00,000 subject to repayment capacity and value of property. The IDBI Bank Loan Against Property Advantage

• Tenor up to 15 years
• Attractive Rate of Interest
• Maximum Funding
• Interest rate on daily reducing balance
• Fixed and floating interest rate options
• Simple documentations
• Personalised doorstep services
• Free legal and technical assistance

Applying for a Loan Against Property is absolutely simple. Just call IDBI Bank’s Phone Banking numbers and their representative will contact you at the earliest.

Features of IDBI Bank Loan Against Shares

• Attractive interest rate
• Approved list of more than 465 scrips click
• Single scrips lending for Nifty and Sensex scrips.
• Loan to value up to 50% against shares
• Facility for withdrawal or swapping of securities
• Comprehensive single booklet documentation
• Interest charges levied at the end of every month only on the amount withdrawn
• Most convenient mode of advance for the customer as it allows to draw funds when required
• Available at all IDBI branches

Features of IDBI Bank Loan Against Life Insurance Policy

• Attractive interest rate
• Approved list consists of 23 policies of Life Insurance Corporation of India and 5 policies of Birla Sunlife Life Insurance Policies
• Loan to value up to 85% of the surrender value
• Comprehensive single booklet documentation
• Interest charges levied at the end of every month only on the amount withdrawn
• Most convenient mode of advance for the customer as it allows to draw funds when required
• Available at all IDBI branches

A pledge is created in favour of the Bank and the Drawing Power (DP) is calculated based on the applicable margins set by the Bank. Facility will be renewed after every 12 months depending on the performance of the account.

Features Of IDBI Bank Loan Against Mutual Funds

• Attractive interest rate
• Approved list of 168 Mutual Fund units
• Loan to value up to 50% against Equity based Mutual Fund units
• Facility for withdrawal or swapping of Mutual Fund units
• Comprehensive single booklet documentation
• Interest charges levied at the end of every month only on the amount withdrawn
• Most convenient mode of advance for the customer as it allows to draw funds when required