The key advantages:

• Medium to long-term credit facility with a fixed rate of interest – advantageous if interest rates are rising or low.
• Secure basis for budgeting and costing.
• Interest is charged net, i.e. without credit commission.

Terms & conditions at a glance:

• The rate of interest is based on capital market rates in London (SWIBOR) plus a margin.
• The margin is set individually and depends on the client’s creditworthiness.
• Reduced interest is charged if the client provides readily realizable collateral, for example in the form of securities.
• The rate of interest is fixed two value days before payment.

Eligibility for Education Loan

• Must be an Indian National and age should be above 12 and below 30 years.
• Secured admission to Professional/ Technical courses through Entrance Test/ Selection Process. No minimum qualifying marks
• Eligible Courses for Education Loan
• Professional job oriented courses like Medical/Engineering/Management etc.

Quantum of Finance

• Need based finance upto a maximum of Rs. 10.00 lacs.

Margin

• Upto Rs.4,00,000/- — NIL
• Above Rs.4,00,000/- — 5%

Security

• Third party guarantee and/or collateral security may be asked for in appropriate cases.

Additional Security

Mode of Disbursement

• The loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.

What kind of a loan is it?

Personal Loan is a clean cash facility that can be used for absolutely any legal need. It requires no guarantor, collateral and/or hypothecation.

What all can I do with my Personal Loan?

Your Personal Loan can be used for any thing and everything.. You can go on vacation, pay your bills, furnish your home and even pay for your child’s education. A personal loan cannot be used under any circumstances for an IPO (Initial Public Offering)

FAST

1. Speedy loan approval
2. No guarantor / security / collateral required

FLEXIBLE

1. Borrow up to Rs.1,000,000/-
2. 1-5 year tenures
3. Partial and full adjustments allowed anytime during the tenure
4. Optional insurance

AFFORDABLE

1. Equal monthly installments
2. Lower interest rates
3. Higher loan limits

EASE

• Doorstep service and assistance from dedicated sales staff to fill and submit application along with documents

SPECIAL BENEFIT:

• Loan amount can be renewed anytime after 6 months

The Indian Bank does not ask for your income tax documents in some cases if you have an existing life insurance policy, a credit card, an overdraft account or an existing personal loan with some other bank you may be given a personal loan without being required to produce your income tax documents.

Amount of the loan

Indian Bank provides loans between Rs.50,000 and Rs.15,00,000. The term period of the loan can be between 12 months and 60 months.

Refinancing an existing personal loan

In times of falling interest rates, a personal loan from Indian Bank can be used to refinance a loan from some other bank that has been taken at a higher interest rate. When you opt for refinancing your personal loan, you may be able to transfer it to Indian Bank without having to provide your income documents. You can also ask for an additional loan when you’re getting your personal loan refinanced.

Specially for existing customers

If you’re an existing customer of Indian Bank you can opt for a personal loan from them without providing income tax documents.

Documents required for the Indian Bank Personal Loan

Some documents are required when you apply for a personal loan. If you’re a salaried person you need to provide the latest salary slip and the bank statement for the last six months. Apart from this you need to provide a photo identity proof, a residence proof and an age proof document. A copy of a passport can meet all three requirements since it establishes your photo identity, residence and age. A voter’s ID card can also meet all three requirements similarly.

If you don’t have either of these documents then you can provide your driver’s license and a copy of your PAN Card or Birth Certificate or copy of your life insurance policy. Alternatively phone bills and electricity bills can also be provided to establish your proof of residence.

Self employed professionals need to additionally provide Income Tax Returns (last 2 years), CA certified computation of income, or CA certified Profit & Loss Account and Balance Sheet for last 2 years.

Eligibility for a Indian Bank personal loan

You can opt for a Indian Bank personal loan if you’re between 25 and 60 years of age. For self-employed professionals the maxmimum age limit is 65 years. Your minimum take home salary needs to be Rs.20,000 per month. In case of self employed professionals the annual income needs to be over Rs.2,40,000 per annum

HDFC Bank is the only bank in india that giving largest amount of money as home loan, We can avail the home loan upto Rs.50 lacs from HDFC Bank. We can apply for the HDFC Bank home loan for the puchase/construction of a new house/flat and also to renovate/rebuild an existing home.

The Interest Rates of the HDFC Bank home loan is very less, We can get the home loan on a floating or fixed rate of interest from the HDFC Bank. The Processing fee and all other charges of the HDFC Bank home loan is low when compared with other bank home loans. Documentation is minimal, The process of getting the loan is very simple and also easy,

The Repayment period of HDFC Bank home loan is so long, We can repay the loan amount in 10 -15 years. There are several repayment options available, We can choose the one that suits us.

The indian students can avail education loan from Citibank India upto an amount of Rs. 15 lacs for studies in india and upto Rs 25 lacs for studies abroad.

Applying process of the education loan is very simple, The Interest rates, Processing fee, Documentation and other charges of the education loans is also very less.

The loan approval is also done in a speedy method, When my friend applied for Citibank India education loan he got the loan amount in just 3 days.

Repayment period of the education loan is also so long, Students can repay the loan in a tenure of 7 -10 years. Students can choose the repayment option that suits them as there are several options available.

The ICICI Bank personal loan is provided for all the employed and self-employed persons, Both the Indian Residents and Non Indian residents can avail personal loan from ICICI Bank.

The Interest Rates, Processing Fee and all Other Charges of ICICI Bank personal loan is very less One can avail the personal loan up to an amount of Rs. 10 lacs from the ICICI Bank, If you are an indian who is planning to take a personal loan soon then i do recommend you the ICICI Bank because its the only Bank that grants the loan very quickly.

The ICICI Bank personal loan repayment period is very long, Borrowers can repay the personal loan in 48 easy monthly installments. The Prepayment charges are also very less.

1) Doing Research: At first one needs to do a research about the banks and financial companies in india, By doing some research on them you can know the latest offers on home loans and also their interest rates.

2) Selecting a Bank: After researching about the home loan lenders i.e, banks and financial companies you needs to select a bank of your choice.

3) Get Ready With All The Required Documents:  Next to selecting the bank you needs to get ready with all the required documents, The banks and financial companies in india mainly asks the following documents;

• Proof Of Residence
• Proof Of Income
• Proof Of Identity

4) Apply the Loan: You can apply the home loan by going the nearest branch or by visiting the official website of the bank whichever you have selected.

5) Getting the Loan: If you have applied the loan application perfectly along with all the required documents at any bank or financial company in india then your loan application will be reviewed and loan amount will be granted within 7 to 10 days.

Eligibile Courses

1) Studies in India: Graduation courses/Colleges under Universities approved by UGC. Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR etc.

2) Studies Abroad: Job oriented Prof./Technical / PG courses/ Post Graduation: – MCA, MBA, MS etc

Eligibility: Student should be Indian national, have secured admission by Entrance test / Merit bases selection.

Loan Amount:

• Maximum amount in India: Rs. 10.00 lac
• Maximum amount in Abroad: Rs. 20.00 lac

Security:

• Up to Rs. 4.00 lac – Clean
• Above Rs.4.00 lac to Rs.7.50 lac - Satisfactory third party Guarantee
• Above Rs. 7.50 lac – Collateral Security Needed

Margin:

• Up to Rs. 4.00 lac – Nil
• Above Rs.4.00 lac - 5% for studies in India and 15% for studies abroad

Repayment:

• EMI – 60 Months (Loan plus int.accrued together)
• Moratorium: Course Period + 1 year OR 6 months after getting job whichever is earlier

Processing Fee:  Nil

Others:

• Loan will be granted to student with parent as Co-borrower/s
• Loan will be disbursed in stages as per requirement directly to Institute / College.

Other Facility: Student can apply education loan in online mode through Bank of Maharashtra website. This Facility is presently available only in selected 75 branches (shortly it will be increased to handsome number)

The Bank of India Provides home loan to purchase a Plot for construction of a House, to purchase / construct house / flat, as well as for renovation / repair / alteration / addition to house / flat, furnishing of house.

Interest Rates: The loan is available at very competitive rates of interest, currently available in the industry.

Loan Amount: Maximum home loan amount is Rs.30 lacs.

Repayment: The repayment ranges upto 20 years.

Bank of India Star Home Loan Features, Benfits & Advantages:

• Option for different EMI amounts for different periods during tenure of loan to suit customers repayment capacity. 
• Prepayment of Loan permitted
• Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount.
• Loan to NRIs as well as Persons of Indian Origin.
• Simplified application form/procedures for convenience of customers, and speedy approvals.
• Free Personal Accident Insurance cover
• Life Insurance Cover to borrowers for Loan Protection(optional)