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Product Overview – LOANS

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Product Overview – LOANS LOANS Channel partners with 60+ Banks and NBFCs with whom our experts compare and get you the best rate and maximum loan amount Starting at Starting at Starting at Starting at 10.99%* 8.30%* 8.75%* 15%* Starting at 9%* 4 . NBFCs – Non Banking Financial Companies . FOIR – Fixed Obligation to Income Ratio . SME – Small and Medium Enterprises . LRD – Lease Rent Discounting . BT – Balance Transfer Self Employed Non Self Employed Salaried Professional Professional Private Limited Proprietorship Doctors Limited Partnership Architects Government companies Private Limited Chartered Accountants Other companies Limited Secured Loans Unsecured Loans Home Loan Personal Loan Loan against property Business Loan Commercial property purchase Credit Cards Lease Rent Discounting Loan against shares Working Capital Car loan . It is an option that most individuals opt for to avail the benefit of lower interest rates prevalent in the market . Usually the existing borrower of a bank, who is about two or more years into his loan tenure, does not get the benefit of falling interest rates in the market. The Reserve Bank of India has been insisting on lower interest benefits to be passed on to the existing borrowers as well, but this seldom happens. Balance transfer of Loans happens when the entire unpaid principal loan amount is transferred to another bank for a lower rate of interest. If the unpaid amount is low or if only a few years remain in terms of tenure, balance transfer may not be ideal. This is also because banks often levy a processing fee for balance transfer of Loans and in the end it may not be all that beneficial. Personal Loan (BT) Home Loan (BT + Top up) Loan Against Property (BT + Top up) New / Used Car Loan & Car Refinance Loan Against Securities Loan Against Property (BT + Top up) Commercial Property Purchase Unsecured Business Loan (BT + Top up) Lease Rent Discounting Working Capital (takeover and enhancement) Overdraft & Cash credit Term loan Loan Against Property (BT + Top up) Commercial Property Purchase Professional Loan (BT) Home Loan (BT + Top up) Loan Against Shares New / Used Car Loan & Car Refinance Equipment finance Channel Partners ADITYA BIRLA HOUSING FINANCIAL LIMITED AXIS BANK AU HOUSING FINANCE LIMITED DBS BANK CAPITAL FIRST LIMITED DCB BANK CHOLAMANDLAM INVESTMENT AND FINANCE COMPANY LTD FEDERAL BANK DHFL ICICI BANK EDELWEISS FINANCE LIMITED FULLERTON INDIA CREDIT COMPANY IDFC BANK LIMITED KOTAK MAHINDRA BANK INDIA INFOLINE FINANCE LIMITED (IIFL) RBL BANK MAGMA HOUSING FINANCE LIMITED STANDARD CHARTERED PNB HOUSING BANK RELIANCE HOME FINANCE YES BANK TATA CAPITAL Bank Of Baroda HDFC LTD ADITYA BIRLA FINANCE LIMITED AU FINANCE LIMITED CAPITAL FIRST LIMITED AXIS BANK CAPRI GLOBAL CAPITAL LIMITED (ALSO CP) CHOLAMANDLAM INVESTMENT AND FINANCE COMPANY DBS BANK LTD EDELWEISS FINANCE LIMITED DEUTSCHE BANK ESSEL FINANCE FEDERAL BANK FINMAX FINANCE FULLERTON INDIA CREDIT COMPANY LIMITED HDFC BANK LTD HERO FIN CORP(ALSO CP) ICICI BANK HINDUJA LEYLAND FINANCE LIMITED IDFC BANK(ALSO CP) INDIA INFOLINE FINANCE LIMITED (IIFL) INDUSIND BANK INDIABULLS HOUSING FINANCE LIMITED INDOSTAR CAPITAL FINANCE LIMITED KOTAK MAHINDRA BANK JANALAKSHMI FINANCIAL SERVICES LTD RBL BANK L&T FINANCE STANDARD CHARTERED MAGMA FINCORP LIMITED BANK ORIX LEASING & FINANCIAL SERVICES INDIA LIMITED(ALSO CP) YES BANK PIRAMAL CAPITAL PNB HOUSING RELIANCE CAPITAL TATA CAPITAL HOUSING FINANCE AXIS BANK DEUTSCHE BANK HDFC BANK LTD AXIS BANK ICICI BANK DCB BANK(also SE) INDUSIND BANK HDFC BANK LTD KOTAK MAHINDRA BANK ICICI BANK RBL BANK IDFC BANK STANDARD CHARTERED BANK STANDARD CHARTERED BANK(also SE) ADITYA BIRLA FINANCE LIMITED YES BANK BAJAJ FINANCE LIMITED KOTAK BANK BEE FINTECH PRIVATE LIMITED (INCRED FINANCE) ADITYA BIRLA FINANCE CAPITAL FIRST LIMITED LIMITED CAPITAL FLOAT BAJAJ FINANCE LIMITED EDELWEISS FINANCE LIMITED CAPITAL FIRST LIMITED(ALSO EQUITAS SE) FINMAX FINANCE FULLERTON INDIA CREDIT FULLERTON INDIA CREDIT COMPANY LIMITED COMPANY LIMITED LENDINGKART TATA CAPITAL MAGMA FINCORP LIMITED SHRIRAM FINANCE TATA CAPITAL Loan Amount 50k to 20 Lacs Collateral No Collateral PRODUCT SUMMARY Tenure Upto 5 years Rate of Interest 10.99% to 24%* PF 1.5% - 2%* Loan Amount 5 Lacs to 5 Cr Collateral No Collateral PRODUCT SUMMARY Tenure Upto 3 years Rate of Interest 15.00% to 24%* PF 1% to 2%* Loan Amount 10 Lacs to 35 Cr Collateral Mortgage of Loan property Product Summary Tenure Upto 30 years Rate of Interest 8.30% to 11.50%* PF 0.5%* Salaried-Rs.10000/- Loan Amount 25 Lacs to 30 Cr Collateral Mortgage of Loan property Product Summary Tenure Upto 15 years Rate of Interest 8.75% to 12%* PF 0.5% to 1%* Product Average Rate Of Max loan tenure Per lac EMI Interest Personal Loan 13.5% 5 2301 Unsecured Business 17.5% 3 3590 Loan Home Loan 8.40% 20 862 Loan Against 9.5% 15 1044 Property As per - Per Lac EMI As per EMI calculator . EMI paying capacity = Income*FOIR% less Monthly obligations if any . Example . Emi paying capacity = Rs.30,000 . Per lac EMI of PL = Rs.2300 . Therefore Rs.30,000/2300 = 13.043 i.e Rs. 13 Lacs Principal amount . So, the customer is approximately eligible for - . Rs.13.04 lacs Principal amount + Rs.4.96 lacs Interest . Total Repayment = Rs. 18 Lacs Particular Amount (Rs) Loan Amount 1,00,000 Interest Rate 10% Loan Tenure 1 Loan EMI 8,792 Total Interest Payable 5,499 Total Repayment 1,05,499 Repayment schedule . Can the co-applicant’s income be included while calculating eligibility? . Yes Banks add spouse or parents income as co-applicant to calculate eligibility . What constitutes an EMI? . The interest payable throughout the loan tenure gets computed over a chart called amortisation schedule which portions the interest and principal in a descending and ascending order respectively. What is fixed interest rate? . Rate of interest will remain same throughout the tenure. What is reducing rate of interest? . Here the interest is charged on the reduced outstanding principal amount. What is floating interest rate? . It is also called Variable Rate of Interest. The rate of interest changes according to the banks policy or market lending rate. Can a fixed interest rate be converted to floating interest rate and vice-versa? . Yes.The interest rates can be switched, lenders usually charge for this..
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