Loan

Credit News

SBI Home Loan, Interest Rates Nov 2017, Eligibility, Documents, home loan calculator india.#Home #loan #calculator #india


Home loan calculator indiaSBI Home Loan

SBI Home Loan: Get quotes on Interest Rates 8.30% November ✓ Eligibility, Documents, Low EMI Rs.758/lakh, Application Status, Calculator Quotes at deal4loans.com.

Key Pointers of SBI Home Loan

Latest Update: 2 Years Fixed Rates for Women are 8.50%, 8.55% for Others. Loan amount maximum upto 30 lakhs only. State Bank of India has introduced two new Home Loan products SBI Privilege Home Loan for Government Employees and SBI Shaurya Home Loan for Defence Personnel.

Festival Bonanza : 0% Processing Fee, on Top up and Home Loan (New & Take Over). Offer Valid till 31.12.17

SBI Home Loan Interest Rates: Last updated as on 02 Nov 2017

HOME LOANS – INTEREST RATES With effect from 02.11.2017

Home Loan as Overdraft (Maxgain)*

Above 30 lakh Upto 75 lakhs

Above 20 lakh upto 30 lakhs

Above 30 lakhs Upto 75 lakhs

Above 75 lakhs Upto 3 crores

SBI – CLSS Home Loan Scheme

Prime Minister has announced interest subsidy of 4% on housing loans of up to Rs.9.00 lakhs of those with an income of Rs.12.00 lakh per year and of 3% on housing loans of up to Rs.12.00 lakh of those earning Rs.18.00 lakh per year. Under CLSS Scheme for MIG, if you take a loan amount of upto 9 lakh for maximum 20 years repayment period, built up area below 90 sq mtr (968 sq foot) and your yearly income is below 12 lakh. Than your savings are below:

Under CLSS Scheme for MIG, if you take a loan amount of upto 12 lakh for maximum 15 years repayment period, built up area below 110 sq mtr (1184 sq foot) and your yearly income is above 12 lakh and below 18 lakh than your savings are below:

SBI Hamara Ghar Home Loan Scheme – Fixed Interest rate product for affordable segment. Home Loan will be available by way of Term Loan only with fixed interest tenure of 2 years.

  1. Pre-payment penalty of 2% plus ST levied on loans foreclosed /prepaid during initial tenor of 2 years.
  2. Switch over from fixed interest rate to floating rate linked to 1 yr MCLR will be unavailable for period of first 2 years.
  3. Max Loan Amount INR 30 lakhs

Interest Rates of Hamara Ghar Home Loan Scheme

Interest Rates for Home Loan Top Up Scheme

SBI Home Loan Interest Rates 2015 – 9.80% – 9.85%. But after October’ 2015 it goes down to 9.50% -9.55%. It helps borrowers to save around Rs 21.98 on per lac emi for 30 years. For example if you can take a loan amount of around 20 lakh for 30 years at 9.50% rate of interest than you can save around Rs 439.60 on per month EMI or Rs 158256 in 30 years tenure.

State Bank of India is the country’s largest bank in terms of number of customers, employees, advances and deposits. Despite being a government-owned bank, it has not only managed to stay ahead of its private sector peers, but continue to be one of the most profitable banks. It remains the ‘trend-setter’ for the banking industry when it comes to taking decisions on interest rates, and product innovations. It has a market cap of Rs 1,90,000 crore and total loan outstanding as of March 2015 was Rs 11 lakh crore.

Eligibility Criteria, Documentation required for SBI Home Loan

2) Identity residence proof

3) Last 3 months salary slip

5) Last 6 months bank salaried credit statements

6) Processing fee cheque

2) Identity residence proof

3) Education qualifications certificate proof of business existence

4) Business profile,

5) Last 3 years profit/loss balance sheet

6) Last 6 months bank statements

7) Processing fee cheque

Above Rs. 30 Lacs. to 75 lac

Repayment period: Maximum 30 years (or) Up to the age of 70 years (the age by which the loan should be fully repaid) of the borrower, whichever is early.

SBI Home Loan EMI Calculator

SBI MAXGAIN – Home loan as an Overdraft

Interest rates (w.e.f. 01 October 2016) for home loans is 9.25% for women and 9.30% p.a. for others.

SBI Tribal Plus Home Loan

Maximum Repayment period is 15 years

SBI Gram Niwas Home Loan

The home loans under Gram Niwas Scheme are sanctioned for purchase/construction/repair and renovation of house and purchase of plot for construction of a house/shed etc. The scheme covers all Rural and Semi-urban centres having population upto 50,000 as per 2001 census.

Maximum Repaymenet period is 15 years

SBI Sahyog Niwas Home Loan

Maximum loan amount per member is Rs.50,000

SBI Shaurya Home Loan

Full wavier of processing fees

Lower interest rate as a concession of 5bps over the Home Loan Card Interest Rate is available whrever check-off facility is extended by the Government inder tie-up arrangement with the Bank

Customers of other Banks/Fls to switchover their Home Loan outstanding balance to State Bank of India

Extended repayment upto the age of 75 years as against 70 years under normal Home Loan scheme. The maximum loan term, however, shall remain capped at 30 years

SBI Reverse Mortgage Home Loan

No compulsion for the borrower to repay the loan amount during his or her lifetime or till such time he/she stays in the house.

SBI NRI Home Loans

Minimum employemnet tenure in India/Abroad should be 2 years

There is no maximum amount limit for this home loan scheme

SBI TOP UP HOME LOAN

0.35% of Loan Amount or Rs 10000 plus service tax whichever is less, subject to minimum of Rs 2000 plus taxes

Interest Rates charged on Top-up loan is different from Normal Home Loan

FAQS about SBI Home Loans:

Bank will determine your loan eligibility mostly by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse’s income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.

Yes, you could go in for a ‘Top up Home Loan’ whereby your existing loan (which you took to buy your current home) could be transferred to the new house with additional funds for the incremental cost of the new house, subject to your loan eligibility. This means you can move into your new home without having to go through the hassle of pre-paying your existing loan.

An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date.

Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges.


SBI Home Loan, Interest Rates Nov 2017, Eligibility, Documents, home loan calculator india.#Home #loan #calculator #india


Home loan calculator indiaSBI Home Loan

SBI Home Loan: Get quotes on Interest Rates 8.30% November ✓ Eligibility, Documents, Low EMI Rs.758/lakh, Application Status, Calculator Quotes at deal4loans.com.

Key Pointers of SBI Home Loan

Latest Update: 2 Years Fixed Rates for Women are 8.50%, 8.55% for Others. Loan amount maximum upto 30 lakhs only. State Bank of India has introduced two new Home Loan products SBI Privilege Home Loan for Government Employees and SBI Shaurya Home Loan for Defence Personnel.

Festival Bonanza : 0% Processing Fee, on Top up and Home Loan (New & Take Over). Offer Valid till 31.12.17

SBI Home Loan Interest Rates: Last updated as on 02 Nov 2017

HOME LOANS – INTEREST RATES With effect from 02.11.2017

Home Loan as Overdraft (Maxgain)*

Above 30 lakh Upto 75 lakhs

Above 20 lakh upto 30 lakhs

Above 30 lakhs Upto 75 lakhs

Above 75 lakhs Upto 3 crores

SBI – CLSS Home Loan Scheme

Prime Minister has announced interest subsidy of 4% on housing loans of up to Rs.9.00 lakhs of those with an income of Rs.12.00 lakh per year and of 3% on housing loans of up to Rs.12.00 lakh of those earning Rs.18.00 lakh per year. Under CLSS Scheme for MIG, if you take a loan amount of upto 9 lakh for maximum 20 years repayment period, built up area below 90 sq mtr (968 sq foot) and your yearly income is below 12 lakh. Than your savings are below:

Under CLSS Scheme for MIG, if you take a loan amount of upto 12 lakh for maximum 15 years repayment period, built up area below 110 sq mtr (1184 sq foot) and your yearly income is above 12 lakh and below 18 lakh than your savings are below:

SBI Hamara Ghar Home Loan Scheme – Fixed Interest rate product for affordable segment. Home Loan will be available by way of Term Loan only with fixed interest tenure of 2 years.

  1. Pre-payment penalty of 2% plus ST levied on loans foreclosed /prepaid during initial tenor of 2 years.
  2. Switch over from fixed interest rate to floating rate linked to 1 yr MCLR will be unavailable for period of first 2 years.
  3. Max Loan Amount INR 30 lakhs

Interest Rates of Hamara Ghar Home Loan Scheme

Interest Rates for Home Loan Top Up Scheme

SBI Home Loan Interest Rates 2015 – 9.80% – 9.85%. But after October’ 2015 it goes down to 9.50% -9.55%. It helps borrowers to save around Rs 21.98 on per lac emi for 30 years. For example if you can take a loan amount of around 20 lakh for 30 years at 9.50% rate of interest than you can save around Rs 439.60 on per month EMI or Rs 158256 in 30 years tenure.

State Bank of India is the country’s largest bank in terms of number of customers, employees, advances and deposits. Despite being a government-owned bank, it has not only managed to stay ahead of its private sector peers, but continue to be one of the most profitable banks. It remains the ‘trend-setter’ for the banking industry when it comes to taking decisions on interest rates, and product innovations. It has a market cap of Rs 1,90,000 crore and total loan outstanding as of March 2015 was Rs 11 lakh crore.

Eligibility Criteria, Documentation required for SBI Home Loan

2) Identity residence proof

3) Last 3 months salary slip

5) Last 6 months bank salaried credit statements

6) Processing fee cheque

2) Identity residence proof

3) Education qualifications certificate proof of business existence

4) Business profile,

5) Last 3 years profit/loss balance sheet

6) Last 6 months bank statements

7) Processing fee cheque

Above Rs. 30 Lacs. to 75 lac

Repayment period: Maximum 30 years (or) Up to the age of 70 years (the age by which the loan should be fully repaid) of the borrower, whichever is early.

SBI Home Loan EMI Calculator

SBI MAXGAIN – Home loan as an Overdraft

Interest rates (w.e.f. 01 October 2016) for home loans is 9.25% for women and 9.30% p.a. for others.

SBI Tribal Plus Home Loan

Maximum Repayment period is 15 years

SBI Gram Niwas Home Loan

The home loans under Gram Niwas Scheme are sanctioned for purchase/construction/repair and renovation of house and purchase of plot for construction of a house/shed etc. The scheme covers all Rural and Semi-urban centres having population upto 50,000 as per 2001 census.

Maximum Repaymenet period is 15 years

SBI Sahyog Niwas Home Loan

Maximum loan amount per member is Rs.50,000

SBI Shaurya Home Loan

Full wavier of processing fees

Lower interest rate as a concession of 5bps over the Home Loan Card Interest Rate is available whrever check-off facility is extended by the Government inder tie-up arrangement with the Bank

Customers of other Banks/Fls to switchover their Home Loan outstanding balance to State Bank of India

Extended repayment upto the age of 75 years as against 70 years under normal Home Loan scheme. The maximum loan term, however, shall remain capped at 30 years

SBI Reverse Mortgage Home Loan

No compulsion for the borrower to repay the loan amount during his or her lifetime or till such time he/she stays in the house.

SBI NRI Home Loans

Minimum employemnet tenure in India/Abroad should be 2 years

There is no maximum amount limit for this home loan scheme

SBI TOP UP HOME LOAN

0.35% of Loan Amount or Rs 10000 plus service tax whichever is less, subject to minimum of Rs 2000 plus taxes

Interest Rates charged on Top-up loan is different from Normal Home Loan

FAQS about SBI Home Loans:

Bank will determine your loan eligibility mostly by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse’s income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.

Yes, you could go in for a ‘Top up Home Loan’ whereby your existing loan (which you took to buy your current home) could be transferred to the new house with additional funds for the incremental cost of the new house, subject to your loan eligibility. This means you can move into your new home without having to go through the hassle of pre-paying your existing loan.

An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date.

Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges.


Home Loan, Best Home Loan in India, Apply for Home Loan Online, home loan calculator india.#Home #loan #calculator #india


Home Loans

If you can dream it, you can own it! Everything you need to know to avail of a home loan is right here. You can be assured of fair terms, total transparency and flexibility. We believe that when it comes to owning a home, nothing should come in the way.

Features and Benefits of DHFL Home Loans

  1. Loan Amount: Avail a Home Loan of up to ` 500,00,000 (minimum loan amount ` 1 lac) but not exceeding 85% of the cost of property (including stamp duty and registration fees) or 80% of market value, whichever is lower
  2. Tenure Term: The tenure of your Home Loan ranges from 1 to 30 years. The term, however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self-employed individuals)
  3. Purpose: Avail of a home loan for ready built-up or under construction house/flat purchase
  4. Reduce your EMI : With tenure of 30 years, you can reduce the EMI amount on your Home Loan, so that your outgoings every month do not come in the way of your lifestyle and living standards
  5. Interest Rates: The Interest rate applicable is based on the DHFL’s Retail Prime Lending Rate (RPLR) which fluctuates from time to time based on the money market conditions
  6. Processing Fees (Non-Refundable) : This is charged as the fee towards processing your home loan application.

Salaried individuals (SAL) / Self-Employed Professionals (SEP)

Self-Employed Non Professionals (SENP)

*GST as applicable

  • Easy Repayments:You have 2 options for repayment of the loan based on the EMIs payable on your Home Loan:
    1. Through ECS (Electronic Clearing Service) based on standing instructions to your bank
    2. Post Dated Cheques(PDCs) drawn on your Savings/Salary account
  • Home Loan Tax Benefits: Resident Indians are eligible for certain tax benefits on principal and interest components of a home loan. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is ` 2,00,000/- for the interest amount paid in the financial year and up to ` 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
  • Applicant and Co-Applicant: Home Loans can be applied by an individual. The loan amount can be further enhanced by including an earning co-applicant.
  • Home Loan Eligibility

    You can avail a Home Loan of up to ` 500,00,000 (minimum loan amount ` 1 lac) but not exceeding 85% of the cost of property (including stamp duty and registration fees) or 80% of market value, whichever is lower. The loan amount can be further enhanced by including an earning co-applicant.

    The actual Home Loan amount is determined taking into various account factors such as:

    • Repayment Capacity
    • Age
    • Educational qualifications
    • Stability and continuity of income
    • Number of dependents
    • Co-applicant’s income
    • Assets
    • Liabilities
    • Saving habits, and more

    Documentation Required For Home Loan

    Click here for the list of documents required.


    Car Loan EMI Calculator India – Calculate Auto Loan Monthly Payments, home loan calculator india.#Home #loan #calculator #india


    EMI Calculator

    Auto Loan EMI Calculator

    Nowadays, owning a car is no longer seen as a luxurious commodity, rather it has become a necessity. If you have plans to purchase your dream car, it is not important to burn a hole in your pocket in the process. Instead, you can go for the option of having a car loan. The best part of having a car loan is that with the help of reasonable EMIs you get to pay back the loan.

    Are you confused about the whole concept of EMI and the interest you have to pay? You don’t need to and let Car Loan EMI Calculator handle this. Read on, to know more about the EMI Calculator for a car loan and various other related things.

    Car Loan EMI calculator

    Home loan calculator india

    What you should know about Car Loan Monthly Payment Calculator ?

    An EMI loan calculator will help you out in making a right decision for the car model and the monthly budget. So, here are the key factors that you should know about this Loan EMI Calculator –

    • EMI calculator for Car Loan is one of the helpful tools that will make you familiar with the existing and the future monthly amount paid as installments. You can have a Car Loan EMI Calculator from the banks and financial entities.
    • While using an EMI Car loan Calculator, there is a need to enter certain details such as repayment term, loan amount, and the interest rate. With the help of this calculator, you can easily get familiar with the monthly installments and amortization schedule.
    • For using an EMI Calculator for auto Loan, you can enter the processing fee as well. The same fee also gets added to your loan amount to show the total expense incurred.
    • This Car Loans EMI Calculator online will also assist you with the amortization plan, interest outgo, and timeline of the loan repayment. Such information will make you aware of all the important information that helps you make smart decisions.
    • An EMI Calculator also comes handy in planning your monthly budget. This will really help in making the EMI more affordable.

    Home loan calculator india

    How Does Online Car Loan EMI Calculator work?

    First and foremost, the compound interest on the principal loan amount at the set interest rate gets calculated by this EMI Calculator. The calculation is done as per the following rule – paying the interest part first, the total amount payable, and the part that outstanding of your EMI is the principal. EMI is computed using the following emi calculation formula –

    Monthly Installment Amount = [P x R X (1 + R) ^ N] / [ (1 + R) ^N 1]

    In the formula, P is the principal amount; N signifies the number of monthly installments, and R is the rate of interest every month. Let us assume the interest rate per annum at 12%, the interest rate each month will be 12/ (12 100).

    How can you simplify your car loan with an EMI Calculator?

    When you want to have the best information about making a right choice for a loan or about the repayments, this Calculator will do all the things for you. Following are some of the main things that get simplified when you use this Calculator for car loan.

    • Being intuitive and easy to use are its key elements. The main idea behind designing the calculator is to make your calculation task easier. All you need is to enter the values and use the sliders and you will have the instant projections on EMI and amortization schedule.
    • Using this Calculator is as simple as using a standard calculator. You don’t need to have special expertise to use this calculator.
    • With the help of the Calculator, you will have the amortization schedule and above all the breakup of the payable amount in a graphic format makes the things easier to understand and interpret.
    • You can use this Calculator number of times until the time you have the right combination of term, affordable EMI, and the principal.
    • With the help of a online EMI Calculator, you get to know which car loan will be beneficial for you. You get to compare the interest rates based on the prepayment penalty, interest rates, and processing fee to check its effects on the EMI.
    • You don’t have to pay anything and you will get your results instantly.

    What are the benefits of using a car loan eligibility calculator?

    This online Loan Calculator for determining car loan payments is a handy tool that will help you make smart loan decisions. Let us discuss the benefits of this Calculator –

    Reiterate Calculations –

    Using this EMI Calculator for Car Loan, you can keep on varying the values till the time you have the right EMI value that suits you best. Using this calculator, you can also experiment with the interest rates and term of the car loan; you also get to know all these elements can affect your EMI.

    Immediate Results –

    One of the best things is that you get instant results when you calculate your EMI using Car Loan Calculator. You can also use this calculator before taking a final decision on taking a car loan, when you are finally paying off your loan, and while you are making plans for car loan repayments.

    Logical evaluation of car loans –

    With the help of this EMI calculator, you can easily compare the best car loans on the basis of key elements like – interest rate and EMI. You may feel that the interest rates are all same but using Car Loan Calculator, you will get a better idea of the interest rates that can prove beneficial to you.

    Accurate –

    With the help of online Car Loan Calculator, you get to save your efforts on calculating complicated compound interest. If you are planning to do manual calculations, you are bound to make mistakes. If you enter all the details in a Car Loan EMI online calculator, your task gets done in minutes. Having an intuitive interface, the Calculator can be used by anyone.

    How to qualify for a car loan?

    Well, you don’t need to worry as the process of auto loan approval is simpler as compared to the house loan. For your bank and the lenders, your credit history and income really plays a pivotal role. Basically, they are interested in knowing whether you will be able to repay the loan amount or not. Following are the things that a lender or your bank will consider –

    Credit Score –

    Your bank and lenders will show more interest in knowing your status regarding your credit health and even want to know your history. They are usually looking for a credit score i.e. more than 750. Basically, it is the first step and on the basis of your credit score, they will move on to the next step.

    But, if your score is below 750, your application will not be considered for the car loan. For lenders or your bank having a credit score below 750 is a clear signal that you are not capable of managing your credit responsibly. So, if you don’t want to face a rejection, make sure you have a healthy credit score.

    Employment Profile –

    Your bank and your lenders will also show interest in knowing your employment status i.e. whether you have a stable employment or not. This will ensure them whether you are in a position to repay the loan amount. They are not sure if you have s stable employment where you can easily make the EMI monthly payments for a car loan. They check whether you have worked with an employer for a minimum of one year when you apply for the car loan.

    Credit Report –

    Just like your credit score shows the status of your credit health, your credit report shows your credit behavior. Even your current score is healthy, your bank can cross-check your credit report to have a look at your past payment history.

    Existing EMI payments –

    If your existing EMI liabilities is forming a high percentage of your income, your bank will have an idea that you are not in a position to maintain additional debt payments. If your total monthly EMI is over 50%-60% of your income, your lender will get skeptical about repaying the additional car loan. You have more chances of your loan application getting rejected.

    Therefore, when you have decided to apply for the car loan, ensure that your EMI outflow is not more than your income percentage. Just in case it is high, make sure you pay off the smaller loans in order to bring down your overall EMI. This will help in freeing up some part of your income so that you can repay your car loan.

    Besides Car Loan EMI Calculator, you also have easy access to various other EMI calculators like Home Loan EMI Calculator, Bike Loan EMI Calculator, and Personal Loan EMI Calculator.


    Loan for Pensioners, Finance in India, Types of bank loan #1 #hour #loans


    #loans for pensioners
    #

    Loan for Pensioners

    Loans are worthwhile when someone is in immediate need of financial assistance. In earlier days senior citizens were usually deprived of regular loans because of their inability to show proof of a regular income. But the scenario has been changed now and banks are taking care of economical independence of retired individuals by offering a unique pension loan.

    Pension loans are of two types. Pensioners loan and Mortgage loan for senior citizen. Through Pensioners loan, a senior citizen can take a loan against their Pension, fixed deposits, National Savings Certificates, Kisan Vikas Patras, Life Insurance Polices and RBI Relief Bonds etc where mortgage loan demands collateral in the form of an asset such as a home or land. The maximum age limit of a pensioner to apply for a loan is 70.

    The main advantage of this loan is its low interest rate. The maximum amount of loan avail may varies from bank to bank and depends upon individuals repayment capacity. This loan shall be disbursed through Savings Bank A/c other than the account in which your pension is credited every month. Loan prepayment charges and processing fees are free. These loans can be prepaid any time without any penalty.

    Documents required for Pension Loans are:

    Proof of Identity ie; Passport Copy or Voters ID Card or Driving License etc.

  • Address Proof ie; Ration card, Telephone or Electricity Bill or Passport Copy etc.
  • Last 6 months Bank Statement or Bank Passbook.
  • Proof of Retirement and the organization last worked for, including the Pension Slip.


  • July-2015: Best and Lowest Personal Loan Interest Rates in India #best #loan #deals


    #cheapest loan rates
    #

    July-2015:Best and Lowest Personal Loan Interest Rates in India

    5 Best and Lowest Personal Loan Interest Rates in India ( (Updated: July-2015)

    One of the ways to get a loan for an emergency is taking Personal Loans from Banks and Financial Institutions. With Personal Loan Interest Rates shooting up, everyone would be eager to choose a cheap personal loan interest rate when they are taking the loan. From this month, I would be providing latest personal loan interest rates in India so that a loan seeker can choose best personal loan interest rates.

    Why people choose personal loan?

    While home loan, car loan, etc. are meant for a specific purpose, personal loans on the other hand does not mean for any specific thing. You can take a personal loan for any of your financial obligations like child education, child marriage expenses, payment in advance to home, purchase of plot (where loans are not eligible), home emergencies etc. Banks and Financial Institutions charge very high interest rates on personal loans. Hence, once should be wise in choosing a best personal loan interest rate that suits them.

    Top 5 Best Personal Loan Interest Rates in India

    1) Kotak Bank Personal Loan Scheme

    Kotak Bank offers one of the lowest personal loan interest rates in India.

    • The interest rates range between 14.5% to 15.3%, depending on which company an employee is working.
    • The processing fees charged is up to 1.5%. Kotak Bank offers 0% processing fee for MNC/large companies for a limited period of time.
    • Zero charges for pre-payment of a personal loan
    • You can pay up to 25% of loan in any financial year as part-payment
    • Loan approvals within 24 hours after documentation is provided
    • Special personal loan interest rates for Govt employees and professionals like Doctors.

    2) Indus Ind Bank Personal Loan Scheme

    Indus Ind bank offers personal loan at attractive interest rates.

    • The interest rates range between 13% to 16.5%, depending on where the employee is working
    • The processing fees charged is up to 2% of the loan amount.
    • Loan approvals between 2-7 working days after documents are provided

    3) Bank of Baroda Personal loan

    Bank of Baroda offers personal loans with several benefits.

    • The interest rates are 14.75% for all employees and business individuals.
    • The processing fees charged is Nil.
    • Zero pre-payment closure charges.
    • Loan approvals between 2-5 working days after documents are provided

    4) Bank of India Star Personal loan Scheme

    Bank of India offers personal loans with some additional concessions to women.

    • The interest rates are 15%.
    • Special interest rate concession of 0.5% for women.
    • The processing fees charged is up to 2% of the loan amount.
    • Zero pre-payment closure charges.
    • Loan approvals between 2-5 working days after documents are provided

    5) Canara Bank Personal loan Scheme

    Canara Bank offers cheapest personal loan interest rates and lowest processing fees.

    • The interest rates are 15%.
    • The processing fees charged is up to 0.3% of the loan amount.
    • Loan approvals within 24 hours after documents are provided.

    Latest Personal Loan Interest rates in India with processing charges are enclosed below (Updated: July-2015)

    If you enjoyed this article, share this with your friends and colleagues through Facebook and Twitter.

    Suresh

    Best and Lowest Personal Loan Interest Rates in India


    Home Loan EMI Calculator, Housing Loan Calculator India – ICICI Bank #student #loans #interest #rates


    #home loan calculator india
    #

    Home Loan EMI Calculator

    Calculate Home Loan EMI

    With lower EMIs, ICICI Bank Home Loans are light on your wallet. Lower interest rate and repayment tenure of up to 30 years ensure a comfortable EMI for you during the entire loan tenure. You can estimate your EMI by using our feature rich Home Loan EMI Calculator.

    To reduce the EMI burden of a home loan that you have already taken from another bank or Non-Banking Financial Company (NBFC), apply here for balance transfer and save money.

    Opting for auto-debit facility on ICICI Bank Savings Account for paying ICICI Bank Home Loan EMI, earns you reward points that can be redeemed against exciting rewards from our partners.

    Calculate EMI

    What is Home Loan EMI?

    EMI is the abbreviation for Equated Monthly Installment. Home Loan EMI is the monthly repayment that borrower should make to repay the home loan as per amortisation schedule.

    What is Home Loan Amortisation Schedule?

    Home Loan Amortisation Schedule is the table, which details the following

    • Outstanding Balance before payment of each EMI
    • EMI
    • Contribution towards principal repayment
    • Contribution towards interest payment
    • Outstanding balance after payment of each EMI

    How is the borrowed amount and interest due paid through EMIs?

    Each EMI repays a part of principal i.e. the borrowed amount and the interest due on the borrowed amount. The proportion of each EMI utilised for repayment of principal and interest, however, varies over time.

    Banks and financial institutions, in general, calculate EMI through a common mathematical formula. Thus, for a given loan amount, tenure and interest rate, the EMI calculated and the amortisation schedule offered by banks and Non-Banking Financial Companies (NBFCs) will typically be similar. This means that pattern of reduction of principal amount through payment of each EMI will typically follow similar trend across all financial institutions.

    It is a well-known fact that the initial EMIs contribute more towards payment of interest due as compared to the principal amount. However, during the tenure of the loan, subsequent EMIs contribute more towards repayment of principal amount as compared to previous EMIs.

    What is the benefit of calculating EMI?

    Since EMI is the fixed amount that you will need to pay to the bank towards repayment of your Loan, calculating the EMI helps you to plan your monthly budget.

    What is the impact of part payments on EMI?

    Part payments reduce the outstanding loan amount, which in turn reduces the interest amount due. Without changing the EMI post part payment, the contribution of EMI towards principal repayment increases. Thus the loan gets repaid faster.

    How does Home Loan EMI payment reduce tax obligation?

    Provisions under income tax laws allow Indian Nationals to claim income tax relief on payments made towards interest and principal of home loan. Click here to access our home loan tax saving calculator

    • Internet Banking

    Explore the power of simpler and smarter banking. Bank online with over 250 services

  • Mobile Banking
    Bank on the go with our Mobile Banking services. Download app or use SMS
  • Pockets by ICICI Bank
    VISA powered Universal payment wallet. Download today
  • Find ATM/Branch

    Bank 24/7 through a widespread network of over 4,050 branches and 13,180 ATMs


  • Education Loan: Apply Online in India, Interest Rates #medical #school #loans


    #educational loan
    #

    We’ve identified the lowest interest rate quotes for your profile with great savings .

    3.5 / 5.0 by 194 users

    About Education Loan:

    When it comes to all the building blocks that form a complete and successful life, nothing is as important as quality education. However, education in India, at least the commonly perceived ‘quality education’ as imparted by acclaimed and influential educational institutions, is decidedly costly and not easily available to everyone- especially those who deserve it based on merit alone. Thus, education loans are vitally important. A barebones explanation for an education loan is thus, ‘funds offered by financial institutions to meritorious and/or deserving students so that the latter can pursue their basic/higher education, in India or abroad’. Almost all banks in India offer education loans, and the demand for it has remained stable with the Indian student community.

    Why Choose Education Loan?

    The question should ideally be, why choose an education loan over a personal loan, or the money accumulated in your savings account? The versatility and advantages of education loans are listed below-

    • Education is Expensive- It’s a matter of instant availability. A comprehensive education loan frees you from the task of accumulating sufficient money to fund your son/daughter’s higher education. And, with inflation and shifting prices, can you ever be 100% certain? A good education is expensive and the expenses aren’t changing in a predictable curve. A good education loan scales accordingly and helps you be safe from unexpected surprises.
    • Specialised Help- The expenses incurred through a standard study course are many, caution deposits, library fees, building deposits, laboratory fees, etc. With a comprehensive education loan, individual facets of the course can be better addressed without the risk of running out of money. It’s more organized and seamless with an education loan.
    • Widely and Easily Available- Comprehensive education loans are a priority product in most banks’ arsenal of products and the RBI lists them as part of the priority sector lending of banks. Conforming to some basic requirements and confirming your ability to repay the borrowed amount is all it takes to get on-board.
    • Timely Assistance- Often, good intent isn’t backed by good monies. A good education loan offers timely help when it comes to a crucial pillar that promises a successful life- education. Nullifying the worry that accompanies the need to gather up the requisite amount, a full-fledged education loan puts you at ease.

    Features & Benefits of Education Loans:

    When it comes to a complete education loan, the features and benefits offered are the designated deal makers. Commonly, the following conveniences are offered as part of the education loan-

    • Universally available. Anyone with a will to study can apply.
    • Education loans are provided to pursue all types of academic courses, in India and abroad. The courses include graduation, post-graduation, vocational courses and other certificate courses.
    • Loan amounts can vary from a minimum of Rs.10 lakhs to a maximum of Rs.15 lakhs. For education abroad, banks will provide loans to the quantum of Rs.20 lakhs.
    • The applicant’s annual family income and the course pursued are primary determinants for the applicable loan amount.
    • Usually, female students are offered discounts and/or lower interest rates when it comes to education loans.
    • Government sponsored subsidy schemes, such as ‘Central Scheme to provide Interest subsidy (CSIS)’ help students from the economically backward sections of society avail the benefits of a robust loan for education.
    • The applicant need not repay the borrowed amount immediately. Post the completion of the course, the repayment tenure can stretch upto 5-7 years.
    • Generally, loans below Rs.4 lakhs do not require a security or guarantor.

    Banks, in their individual capacity, will offer a whole suit of exclusive features and benefits. Check the same before zeroing in on the one that best complies with your requirements.

    Why Apply for an Education Loan on BankBazaar?

    BankBazaar is a user friendly portal that is dedicated to the comparison of various banking products, including Education Loans. A helpful resource, BankBazaar allows visitors to better understand this loan, its pros and cons, as well as the various banks that offer them in India. Why BankBazaar? The reasons are as follows-

    100% Hassle Free- Save on time and effort as you ditch legwork and fire up your computer to check out the best education loan options. The process is extremely simple, distraction free and incredibly quick.

  • Compare Education Loans- BankBazaar lists almost all the education loans offered by the various banks and other financial institutions in India. The simple comparison option allows you to choose the loan that best suits your limitations and requirements. Plus, detailed information on every available loan option.

    Apply Online- Post the comparison, use the simplistic BankBazaar interface to apply online for your chosen education loan. Kindly note- Currently, you can only apply for Credila Education Loan and Avanse Education Loan on BankBazaar. More options are expected to be available soon.

    Know it All- From important details such as education loan eligibility, documentation and the basic terms and conditions, to informational bytes that relate to the latest happenings across the education loan landscape in India, BankBazaar is a treasure trove of helpful information.

    Always With You- Have a query or concern? BankBazaar’s brand of superior customer support is always just a phone call, email or chat-box away.

    How to apply for an education loan on BankBazaar?

    Applying for a suitable education loan (currently only Credila Education Loan and Avanse Education Loan are available) on BankBazaar is a very interactive and simple process. The following steps list this process clearly-

    • On BankBazaar’s homepage, access the ‘Education Loan’ option from the top navigation bar.
    • Spread before you, on the drop-down, are popular education loan options. You can directly choose any lender from this list.
    • Do you notice the ‘Get Quote’ and ‘Explore’ buttons? These link to wizards that help you, a) find the most suitable education loan for you, and b) find more information about individual loan options.
    • Your eligibility for the loan is determined by an interactive wizard that takes just about 3 minutes to complete. At the end, a selection of the most appropriate education loan options are listed before you. Clicking on any of these allows you to explore this option further.
    • On a particular bank’s education loan page, the ‘Apply’ button is a prominent fixture. Click on the same to set the wheels in motion. Your information (as provided) will be forwarded to the bank in question and the representative from the latter will contact you in a short while.
    • You can also track your loan application via SMS alerts and email notifications.

    Comparing Education Loans from Top Indian Banks:


  • Canara Bank Housing Loan, Home Loan Canara Bank, Housing Finance Canara Bank in India #how #to #get #a #loan #with #no #credit


    #canara bank home loan
    #

    Canara Bank

    An attractive scheme of Carana Bank for Home Loan :For construction / purchase / repairs / additions / renovations of residential house / flat including the purchase of land and construction thereon. For taking over of the Housing Loan liability with other recognized Housing Finance Companies, Housing Boards, Co-operative Banks, Co-operative Societies and Commercial Banks at our prevailing low rate of interest.

    Eligibility :-

    • Salaried individuals, individuals engaged in business / professionals and self-employed persons. NRIs are also eligible to avail loans without specific permission of RBI. Persons above the age of 55 years are also eligible subject to certain stipulations of RBI.

    How much you are entitled to: We finance upto:-

    • 4 years of gross salary to salaried individuals.
    • 4 years’ gross annual income to individuals engaged in business or to self-employed persons.
    • For NRIs up to 2 years’ gross income and selectively up to 3 years’ gross income.
    • Selectively loan upto 5 years’ gross salary/income also permitted subject to a maximum of:
    • Rs.50 lacs for purchase / construction of house / flat. (Loan is also granted upto Rs.1 crore selectively.) and
    • Rs.7.5 lacs for repairs / renovations / additions to the existing house / flat.

    Rate of Interest with EMIs (w.e.f. 1st June, 2007):-

    Repayment:-

    • In convenient equated monthly installments upto 20 years.

    Processing Charges :-

    • 0.50% of the loan amount minimum of Rs. 500 and maximum of Rs. 10,000 and no hidden cost. No application fee.

    Documents/ Formalities :-

    • 0.50% of the loan amount minimum of Rs. 500 and maximum of Rs. 10,000 and no hidden cost. No application fee.
    • Stipulated Loan Application with 2 passport size photos of applicant / guarantor
    • Sale Deed
    • Agreement for Sale
    • Copy of the approved plan for the proposed construction / extension / addition
    • Detailed cost estimate / valuation report from Bank’s Panel Chartered Engineer / Architect
    • Allotment letter of Co-operative Housing Society / Apartment Owners’ Association / Housing Board / NOC from the Society / Association / Builders / Housing Board
    • Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary
    • Salary Certificate and Form No.16 (in case of salaried persons)
    • IT Returns filed for the past two years (in case of non-salaried persons)
    • A brief note on the nature of business, year of establishment, type of organization, etc. (in case of self-employed)
    • Balance Sheet and P

    5 Banks Providing Cheapest Home Loans in India #sky #loans


    #cheapest home loans
    #

    5 Banks Providing Cheapest Home Loans in India

    Bangalore: Home prices may have been on an upward spiral for many years, but the cost of owning a house in India remains near the most affordable level in over three decades, showed data compiled by mortgage giant HDFC Ltd.

    The average price of a home, purchased with a housing loan, rose to over 45 lakh in the 2012-13 fiscal marking the fourth consecutive year of uptrend from about 25 lakh in the year 2008-09, HDFC has said in a presentation.

    Read on to know about few banks which provide cheapest home loans in India, listed by Yahoo.

    Note: EMI per lakhs (in Rupees) for a loan amount of 30 lakhs as on May 3, 2013

    1. Axis Bank

    Axis Bank housing loans are intended for current requirements. One can choose between fixed and floating rate options based on which way you think interest rates are moving.

    A loan in which the interest rate does not change during the entire term of the loan is known as a fixed rate and a floating interest rate is acknowledged as a changeable rate or adaptable rate.

    Axis bank is offering 2,212 as fixed rate and 2, 149 as floating rate for a period of 5 years. Alternatively for 10 years fixed rate is 1,420 floating rate is 1,349, for 15 years fixed rate is 1,184, floating rate is 1,105 and for 20 years fixed rate is 1,084, floating rate is 998.

    Also Read: