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

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.

For a common man this seems to be attractive that he feels that taking home loan is very easy for him. But actually when the person goes to banks and apply for the loan his application gets rejected. Let us consider the case of Home Loan rejected. We will discuss what are the various points for which home loan gets rejected.

1. Banks or housing finance companies rejects the home loan application if the land or the building for which loan is applied, the legal documents are not clear from the builder side or there is any technical discrepancy as per the technical review of the bank or financial company offering the loan.

2. Sometime banks or housing finance companies have norms, with respect to a minimum are of the flat to be purchased. So before applying for loan check with the lender about the criterion of minimum area requirement. If it is not then change the lender and reapply.

3. Lender also checks the financial ability of the person applying for loan. To be eligible for applying make sure that your monthly income meets minimum income requirement and also try to keep clean credit background. If you have your source of income fixed then your loan approval is very high.

4. Family dependents is also one of the factor that banks and financial institutions considers apart from the fixed source of income. This plays a huge role in an applicants repayment capability. Means larger dependents reveals lower repayment capacity. Based on the past six months banks Savings Account and Credit Card Statement banks easily understands the spending and savings habit of an individual. So keep your Banks accounts clear and credit card outstandings to minimum.

5. The next factor is age of the person applying for loan. The higher the age lesser the chances of approving the loan. As age goes high the tenure of the loan becomes small and hence higher EMIs which a person may not be able to pay. In this case due to higher age group the home loan gets disapproved.

6. Some banks or housing financial companies have restrictions of location. If person applying for home loan is not within its geographical limit then also your application gets rejected. Ask before you apply for the loan.

7. If you are planning to buy a resale property then if the property is less more than 30 Years then also your application rejects. Number of years of restriction for resale property varies from banks to banks. So clarify this before you apply.

Finally above all criteria are all in your favour but banks does not provide a 100% finance for the home loan so you should have atleast 25% of the property value amount available with you so that you can pay this first and then balance amount will get approved for your home loan.

So members, before you apply for the home loan please check all above points to get through the appoved loan in first attempt.

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.

Loan Amount:

• Individuals are eligible for amounts up to Rs 1.50 Lakhs
• For Families can get loans up to Rs 3 Lakhs

The amount can include Cost for Train / Air fare, hotel stay, other conveyance cost and expenses

Eligibility:

• Resident individuals with adequate income or Salaried group with minimum Basic pay of Rs 2000/-

Period of Loan:

• Loan period can be up to 33 months with a cushion period of 3 months
• For salaried group period of loan should be within retirement age

Repayment:

• By Equated Monthly Installments with Interest

Co-obligant:

• Spouse / other major members of the family proceeding on tour

Security: Collateral security is required – can be Land and Buildings, Gold Ornaments, NSC / IVP / KVP / Deposits with the Bank or shares of high growth companies

The American Savings Bank is ready to help you to start or purchase a business. If you’re already a business owner, American Savings Bank can help you to purchase equipment, upgrade your facilities, or expand your reach.

Just ask, and American Savings Bank will help you qualify for the SBA program that fits your needs, your goals, and your finances.

American Savings Bank SBA Loan Offer:

• Loans of up to $2,000,000 (higher amounts partially guaranteed by the SBA may be available)
• Simplified loan approval processing
• Low down payment requirements
• Projected income consideration
• Flexible terms and interest rates
• Wide range of programs to choose from
• Access to account information through AccountAbilitySM bank-by-phone service

Requirements:

Loan proceeds must go toward creating or retaining jobs

• Maximum Loan Amount: $2,000,000 (higher amounts partially guaranteed by the SBA may be available).

Terms: Depend on the purpose of the loan

For example, term loans may be up to five to seven years for working capital and up to 10 years for fixed assets such as equipment or real estate.
More Options. More Opportunities.

SBA Loan Options:

SBA 7(a) Loan Guarantee Program: Ideal for start-ups and established small businesses. The 7(a) Loan has a maximum amount of $2,000,000. The SBA will guarantee up to 85% of loans $150,000 or less and up to 75% of the loan for amounts greater than $150,000.

Use this loan for:

• Start a new business or purchase an existing business
• Providing working capital
• Purchasing new machinery, equipment, fixtures, or for improvements
• Purchasing or constructing a building
• Expanding or renovating an existing building

SBA Express: Streamlined processing reduces the cost of smaller and less complex SBA loans.

• Maximum loan amount is $200,000
• 50% of loan is guaranteed by SBA
• Local underwriting: American Savings Bank underwrites the loan or line of credit

Patriot Express: The Patriot Express Loan is an initiative by the SBA for military veterans and members of the military community who want to establish or expand a business.

• Maximum loan amount is $500,000
• 85% of loan is guaranteed by SBA
• Streamlined processing
• Local underwriting: American Savings Bank underwrites the loan or line of credit

CAP Lines: The program under which American Savings Bank and the SBA help small businesses meet their short-term and cyclical working capital needs with a line of credit. Depending on the type of line of credit you need, additional requirements may apply.

504 Certified Development Company (CDC) Program: If your small business will help create jobs, this may be the program for you. Your company gets long-term fixed-rate financing for major fixed assets, such as owner-occupied land and buildings or heavy manufacturing equipment.

Here’s how it works:

• American Savings bank finances up to 50% of the project and takes a senior lien
• The CDC finances up to 40% and takes a junior lien
• Your company finances the remaining 10%

I have supplied all the required documnently perfectly, Even my salary is also more higher than fried but the sbi didnt approved my home loan quikly. Anyway i recommed you guys to apply for hdfc home loan as they were approving the home loans very quickly.

To Apply HDFC Bank Education Loan the student must be an Indian resident having secured admission in any of the HDFC Bank’s list of approved course or universities.

The student should have a consistently good academic record, and admission to an approved Educational Institute for pursuing a recognized course to get the Education Loan Approved from HDFC Bank.

HDFC Bank Education Loan approval process is very speedy,You can get the loan approved instantly if you submit all the documents perfectly.The student must have a minimum of 15 years age and maximum of 35 years to Apply the HDFC Bank Education Loan.

Students can Apply HDFC Bank Education Loan online at HDFC Bank’s Official website or Can Apply offline by going to the nearest HDFC Bank branch office.

ICICI Bank personal loans provides you with the necessary capital to own your own car, bike, boat, RV, or even airplane. 

ICICI Bank personal loans cater to a wide variety of customer needs. ICICI Bank Loans are also offered at competitive terms and conditions.

ICICI Bank personal loans include the following features

• Online application for loans are entertained. Decision regarding loan approval is reached in 15 minutes
• The process to apply loan is simple, affordable and fast
• It is a type of unsecured loan
• No collateral is needed neither is any annual fee or application fee charged
• Consolidate debt can be taken

ICICI Bank Personal Loan Rates

The interest rates for the personal loans offered by ICICI Bank are little higher than other types of loan programs. This is because the loans are unsecured and there is no collateral or any asset that can be repossessed by the bank when the borrowers are unable to repay the loan amount in time.

As there is some risk involved, the Bank charges a slightly higher interest rates. However, ICICI Bank personal loan rates are largely determined by the type of loan term, the credit score of the borrowers and their repaying ability.

Indian Bank Personal Loans provide the following benefits:

Further, there are additional privileges for Indian Bank account holders like:

• Special rates of interest.
• For existing Auto Loan customers with a clear repayment of 12 months or more from even any of the approved financiers of Indian Bank, a hassle free personal loan without income documentation can be obtained.
• For existingIndian BankPersonal Loan customer with a clear repayment of 12 months or more, personal loan can be enhanced.

Indian Bank Personal Loans can be availed by the following groups of professionals:

Each of the above groups of professionals encounter a specific set of criteria for sanction of loan. They are also required to present a specific set of document. The fees and interest charges are liable to variation from one individual to another according to parameters like:

• Financial Status of the personal seeking loan
• His/her years of service left (in case of salaried individuals)
• Position of business (in case of self employed individuals)
• Valuation of Collateral Security provided by the loan seeker

However, all the conditions mentioned above are subjected to the sole discretion of the concerned authorities of Indian Bank and are liable to vary from one person to another.

Indian Bank Personal Loans have risen in popularity over the years due to the less stringent criteria for approval.