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FAQs >>Loans
>> Other Retail Loans
Description
FAQs on Education Loan
1. Who can apply for this loan?
Any individual who is having well source of income can apply for this loan.
2. What would be minimum or maximum age for getting this loan?
Age of student should be 17 years minimum and 34 years Maximum.
3. How much loan I can get?
Maximum 15.00 Lacs loan can be financed for studying in INDIA or abroad.
4. Where can I utilize this loan amount?
For studying higher classes.
5. In how much time I can repay this loan?
The Instalment for this Loan will be start after completion of course. After completion of course the loan can be repayable in 60 monthly instalments.
6. Can I prepay this loan?
Yes, loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
11.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
No processing fee on the loan up to RS. 2.00 Lacs, on the loan above 2.00 Lacs processing fee will be charged 0.50% of sanctioned Loan amount.
9. What would be the documents required for this loan?
Residential proof, Proof of income, Admission proof of student, total expenditure on study, proof of ownership of property, legal opinion and Non-Encumbrance certificate of property which will be mortgaged to the bank, valuation of property,
10. Will there be any Collateral Security Required?
Yes, collateral security is required i.e. mortgage of property in favour of Bank and 2 Guarantors are required to stand as Surety for repayment of this loan. No collateral security is required for Govt. employees for the loan up to 5.00 Lacs if they provide irrevocable authority from their Employer. In case of absence of irrevocable authority they will have to provide collateral security.
Description
FAQs on LAP (Loan Against Property) Loan/Limit
1. Who can apply for this loan?
Any individual residing in and having well source of income and whose property comes under urban area can apply for this loan.
2. What would be minimum or maximum age for getting this loan?
Age should be between minimum 21 years and maximum 65 years.
3. How much loan I can get?
50% of Govt. Value of property or 3 times of net annual income or RS. 25.00 Lacs whichever is less.
4. Where can I utilize this loan amount?
To meet socio economic and Business needs such as children's higher education, daughter's marriage, medical emergencies etc.
5. In how much time I can repay this loan?
The Loan can be repaid within 72 Months. In case of Limit it must be renewed every year i.e. on 31 March it will be expired.
6. Can I prepay this loan?
Yes, Loan/Limit can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
13.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
Yes, Processing Fee @0.50% will be charged before disbursement of loan. In case of Limit 0.25% will be charged every year.
9. What would be the documents required for this loan?
Residential proof, Income Proof, a/c Statement or J form, Legal opinion and Non- encumbrance of the property on which loan is taken, Map of property and TS-1 of property, Govt. Valuation of property,
10. Will there be any Collateral Security Required?
No collateral security is required, but 2 Guarantors required to stand as Surety whose net worth is at least equal to loan for repayment of this loan.
Description
FAQs on Personal Loan to Professional
1. Who can apply for this loan?
Individual practicing as professionals such as Doctors, Advocates, Chartered Accountants, Company Secretary, Architects, I.T. Professionals, Interior Designer, Academic
2. What would be minimum or maximum age for getting this loan?
Age should be between minimum 21 years and maximum 60 years.
3. How much loan I can get?
3 times of net annual income or RS. 5.00 Lacs whichever is less.
4. Where can I utilize this loan amount?
To meet socio economic and Business needs such as children's higher education, daughter's marriage, medical emergencies etc.
5. In how much time I can repay this loan?
The Loan can be repaid within 60 Months.
6. Can I prepay this loan?
Yes, Loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
15.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
Yes, Processing Fee @0.50% will be charged before disbursement of loan.
9. What would be the documents required for this loan?
Residential proof, Income Proof, a/c Statement or J form, Legal opinion and Non- encumbrance of the property on which loan is taken, Map of property and TS-1 of property, Valuation of property,
10. Will there be any Collateral Security Required?
Yes collateral security is required along with 2 Guarantors required to stand as Surety whose net worth is at least equal to loan for repayment of this loan.
Description
FAQs on Loan Against Rental Income
1. Who can apply for this loan?
Owners of the property who have let out or proposed to let out the same to the reputed Companies/Commercial/ Industrial/ Software Companies, MNCs bank, PSUs/ Reputed Govt. / Semi Govt. Institutions/ Organizations, Financial Institutions, Insurance Companies Etc.
Owners of properties who have rented out their premises to Cooperative banks are also eligible.
2. What would be minimum or maximum age for getting this loan?
Age should be between minimum 21 years and maximum 65 years.
3. How much loan I can get?
Maximum to the extent of 75 % of the Post TDS rent receivable for a period not exceeding 120 months or unexpired period of lease, whichever is less along with 25% margin of Loanee.
4. Where can I utilize this loan amount?
To meet socio economic and Business needs such as children's higher education, daughter's marriage, medical emergencies etc.
5. In how much time I can repay this loan?
The Loan can be repaid within 10 years or unexpired period of lease whichever is earlier.
6. Can I prepay this loan?
Yes, Loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
13.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
Yes, Processing Fee @0.50% will be charged before disbursement of loan.
9. What would be the documents required for this loan?
Residential proof, Income Proof, certified copy of Lease Deed, a/c Statement or J form, Legal opinion and Non- encumbrance of the property on which loan is taken, Copy of approved building plan, Copy of latest tax receipt of the property, Valuation of property, Audited Balance Sheet of Firm/ Company, Authority letter n=by the borrower to the bank for receiving the rent directly from the tenant/lease and letter of undertaking from tenant/lease to pay rent directly to bank.
10. Will there be any Collateral Security Required?
Yes collateral security is required along with Assignment of lease rentals, and 2 Guarantors required to stand as Surety whose net worth is at least equal to loan for repayment of this loan..
FAQs on Education Loan
1. Who can apply for this loan?
Any individual who is having well source of income can apply for this loan.
2. What would be minimum or maximum age for getting this loan?
Age of student should be 17 years minimum and 34 years Maximum.
3. How much loan I can get?
Maximum 15.00 Lacs loan can be financed for studying in INDIA or abroad.
4. Where can I utilize this loan amount?
For studying higher classes.
5. In how much time I can repay this loan?
The Instalment for this Loan will be start after completion of course. After completion of course the loan can be repayable in 60 monthly instalments.
6. Can I prepay this loan?
Yes, loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
11.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
No processing fee on the loan up to RS. 2.00 Lacs, on the loan above 2.00 Lacs processing fee will be charged 0.50% of sanctioned Loan amount.
9. What would be the documents required for this loan?
Residential proof, Proof of income, Admission proof of student, total expenditure on study, proof of ownership of property, legal opinion and Non-Encumbrance certificate of property which will be mortgaged to the bank, valuation of property,
10. Will there be any Collateral Security Required?
Yes, collateral security is required i.e. mortgage of property in favour of Bank and 2 Guarantors are required to stand as Surety for repayment of this loan. No collateral security is required for Govt. employees for the loan up to 5.00 Lacs if they provide irrevocable authority from their Employer. In case of absence of irrevocable authority they will have to provide collateral security.
FAQs on LAP (Loan Against Property) Loan/Limit
1. Who can apply for this loan?
Any individual residing in and having well source of income and whose property comes under urban area can apply for this loan.
2. What would be minimum or maximum age for getting this loan?
Age should be between minimum 21 years and maximum 65 years.
3. How much loan I can get?
50% of Govt. Value of property or 3 times of net annual income or RS. 25.00 Lacs whichever is less.
4. Where can I utilize this loan amount?
To meet socio economic and Business needs such as children's higher education, daughter's marriage, medical emergencies etc.
5. In how much time I can repay this loan?
The Loan can be repaid within 72 Months. In case of Limit it must be renewed every year i.e. on 31 March it will be expired.
6. Can I prepay this loan?
Yes, Loan/Limit can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
13.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
Yes, Processing Fee @0.50% will be charged before disbursement of loan. In case of Limit 0.25% will be charged every year.
9. What would be the documents required for this loan?
Residential proof, Income Proof, a/c Statement or J form, Legal opinion and Non- encumbrance of the property on which loan is taken, Map of property and TS-1 of property, Govt. Valuation of property,
10. Will there be any Collateral Security Required?
No collateral security is required, but 2 Guarantors required to stand as Surety whose net worth is at least equal to loan for repayment of this loan.
FAQs on Personal Loan to Professional
1. Who can apply for this loan?
Individual practicing as professionals such as Doctors, Advocates, Chartered Accountants, Company Secretary, Architects, I.T. Professionals, Interior Designer, Academic
2. What would be minimum or maximum age for getting this loan?
Age should be between minimum 21 years and maximum 60 years.
3. How much loan I can get?
3 times of net annual income or RS. 5.00 Lacs whichever is less.
4. Where can I utilize this loan amount?
To meet socio economic and Business needs such as children's higher education, daughter's marriage, medical emergencies etc.
5. In how much time I can repay this loan?
The Loan can be repaid within 60 Months.
6. Can I prepay this loan?
Yes, Loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
15.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
Yes, Processing Fee @0.50% will be charged before disbursement of loan.
9. What would be the documents required for this loan?
Residential proof, Income Proof, a/c Statement or J form, Legal opinion and Non- encumbrance of the property on which loan is taken, Map of property and TS-1 of property, Valuation of property,
10. Will there be any Collateral Security Required?
Yes collateral security is required along with 2 Guarantors required to stand as Surety whose net worth is at least equal to loan for repayment of this loan.
FAQs on Loan Against Rental Income
1. Who can apply for this loan?
Owners of the property who have let out or proposed to let out the same to the reputed Companies/Commercial/ Industrial/ Software Companies, MNCs bank, PSUs/ Reputed Govt. / Semi Govt. Institutions/ Organizations, Financial Institutions, Insurance Companies Etc.
Owners of properties who have rented out their premises to Cooperative banks are also eligible.
2. What would be minimum or maximum age for getting this loan?
Age should be between minimum 21 years and maximum 65 years.
3. How much loan I can get?
Maximum to the extent of 75 % of the Post TDS rent receivable for a period not exceeding 120 months or unexpired period of lease, whichever is less along with 25% margin of Loanee.
4. Where can I utilize this loan amount?
To meet socio economic and Business needs such as children's higher education, daughter's marriage, medical emergencies etc.
5. In how much time I can repay this loan?
The Loan can be repaid within 10 years or unexpired period of lease whichever is earlier.
6. Can I prepay this loan?
Yes, Loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
13.00% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
Yes, Processing Fee @0.50% will be charged before disbursement of loan.
9. What would be the documents required for this loan?
Residential proof, Income Proof, certified copy of Lease Deed, a/c Statement or J form, Legal opinion and Non- encumbrance of the property on which loan is taken, Copy of approved building plan, Copy of latest tax receipt of the property, Valuation of property, Audited Balance Sheet of Firm/ Company, Authority letter n=by the borrower to the bank for receiving the rent directly from the tenant/lease and letter of undertaking from tenant/lease to pay rent directly to bank.
10. Will there be any Collateral Security Required?
Yes collateral security is required along with Assignment of lease rentals, and 2 Guarantors required to stand as Surety whose net worth is at least equal to loan for repayment of this loan..
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