Apply Personal Loan, Home Loan, Loan Against Property, Business Loan

Apply Personal Loan, Home Loan, Loan Against Property, Business Loan

1. PERSONAL LOAN



WHAT IS PERSONAL LOAN?
Personal loan is a type of an unsecured loan. It helps to meet a person’s current financial needs. No need of any security/collateral while availing it. Personal loan gives you the flexibility to use the funds as per your convenience and need.
if someone need instant cash and can be used for travelling, wedding,medical emergency,home renovation,or anything else, you can then simply get your hand on personal loan and you are ready with the money in your pockets.
Loan Term
1 Year to 4 Years
Maximum Loan Amount
₹ 50 Lakhs
Interest Rates
10% – 15%
PERSONAL LOAN- ELIGIBILITY
There are various banks and NBFC’s which offers personal loan to all applicants fulfilling their basic eligibility criteria. Different banks have different eligibility criteria.
Most of the banks and NBFC’s have common criteria for individuals requesting a personal loan which include:
Category
Self-Employed
Salaried
Age
28 years to 65 years (25 years for doctors)
23 years to 58 years
Income
·        Minimum turnover of Rs.40 lakhs for non-professionals
·        Minimum turnover of Rs.15 lakhs for professionals
Rs.17,000 (Rs.25,000 for metro cities)
CIBIL Score
Above 750
Above 750
Loan amount
75 k(Min)- 15 Lakh (Max)
75 k(Min)- 20 Lakh (Max)

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DOCUMENTS REQUIRED FOR PERSONAL LOAN
Each bank and NBFC has different documentation criteria for the personal loan. These are the common documents which is required by most of the banks and NBFC’s for individual requesting a personal loan include:
Documents for Salaried Individuals:
Documents for Self-Employed:
Proof of Identity: Passport, Driving License, Voters ID or PAN Card
Proof of Identity: Passport, Driving License, Voters ID or PAN Card
Proof of Residence:-Passport or utility bills
Proof of Residence:-Passport or utility bills
Latest 3 months Bank Statement of Salary Account
Income proof: Audited financials for the last two years.
Salary slips for last 3 months.
Last 6 months Bank statement.
Office address proof

Easy and Accurate ITR Filing
and
apply Loan Now!
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2. HOME LOAN- 

WHAT IS HOME LOAN?
In simple words, Home loan is something by which an individual can build his/her house which once they have dreamt of. It is a particular amount which is borrowed by individual for a fixed venture from banks or financial institution to buy, construct, repair or renovate a residential property. A fixed interest is also levied on such loans which has to be paid by the borrowers along with the principal amount.
Housing loan or home loan is very popular among people offered by various banks and NBFCs. It is even the largest selling banking product and one that ensures the longest banking relationship with the lender. Owning a home of your own is generally an obvious as well as a major decision in a person’s life. The expenses for the construction or purchase of property is quite high and this is where home loans play a major, almost indispensable role for majority of home buyers. Home or housing loans are advances made to borrowers who require funds to purchase houses/flats/land. They can also be availed of for construction, extension and renovation of houses. Lenders can be banking or non-banking financial institutions.
Loan Term
5 Years to 15 Years
Maximum Loan Amount
50% – 80% of Property Value
Interest Rates
10% – 18%

ELIGIBILITY FOR HOME LOAN
Factor
Criteria
Age
The minimum age at the time of application should be 21 years. Repayments have to be completed before the age of 60 or 65.
Employment
Ability to service interest charges, as reflected in the borrower’s earning capacity, is important. Borrowers should :
  • Be salaried employees or self-employed persons (professional/non-professional)
  • Have been in employment/business for at least 3 years of which current employment should account for at least 1 year.
Income
A minimum income varying between Rs.5 – 7 lakhs would be required. This depends on the nature of employment i.e. salaried or self-employed.
Residence
At least one year of stay at the current residence is required to display stability with respect to employment as well as financial. This is an indirect indicator but is taken into account by almost all banks while calculating home loan eligibility.
Credit Rating
A good credit score is required (a score of 750-900 from CIBIL is considered good). Besides this, a healthy financial background is vital for approval and to determine the interest rate and loan amount.
Parallel debts channel
While sanctioning home loan to customers, banks also look into the current credit standing of the loan applicant. If a borrower has other home loans, personal loans or car loans in-progress then the lending entity calculates the loan quantum eligibility accordingly. It is done by banks to make sure that the loan applicant is able to pay the minimum monthly installment towards his/her home loan.

DOCUMENTS REQUIRED FOR HOME LOAN
Documents to be submitted differ according to the eligibility requirements. The following, however, are commonly requested for from all the applicants :
·        The application form which has to be signed and affixed with the specified number and size of photographs.
·        Proof of identity (Copy of Passport/Voter ID/PAN Card/Driving License).
·        Proof of Address (Copy of latest Electricity Bill/Telephone Bill/Property Tax Receipt/Voter ID/Passport).
·        Last 6 months’ Pass Book/Bank Account Statement.
·        Business proof in case of non-salaried individuals.
·        Statement of Personal assets and liabilities.
·        Identification of signatures from present bankers.
Documents Requested from Guarantors
  • Identity and address proof.
  • 2 passport sized photos.
  • Proof of business.
  • Statement of Personal assets and liabilities.
  • Identification of signatures from his/her present bankers.
Additional Documents Requested from Salaried Applicants:
  • Salary certificate from the employer (original).
  • Copy of ITR or Form 16 for last 2 years.
Additional Documents Requested from Non-Salaried/Self-Employed/Professionals/Other IT Assesses
  • Copy of challans proving that Advance Income Tax has been paid.
  • Copy of ITR/Assessment Orders of 3 years.

Easy and Accurate ITR Filing
and
apply Loan Now!
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3. LOAN AGAINST PROPERTY


WHAT IS LOAN AGAINST PROPERTY?
As the name suggest, it is a kind of a loan that is against the security of one’s property and also known as Home Equity Loans. It is designed to meet the financial needs of a person who already owns a house, which is free from any encumbrance which means it is not given as security for any purpose.
Let us put this term into more simple words for you, A loan In other words it actually connotes – a loan given or disbursed against the mortgage of property. One can now take a loan against one’s self occupied residential or commercial property, to expand his business, plan a dream wedding, or fund one’s child’s education and much more. However, one needs to give a declaration stating that these funds will not be used to carry out any illegal activities or for any speculative purpose. The loan is given as a certain percentage of the property’s market value (usually around 40 per cent- 65 per cent). Most lending institutions generally define the threshold amount. Banks, NBFCs and other lenders extend a loan against property as a security, for up to 50 per cent of the market-value of the property.
Loan Term
5 – 15 Years
Maximum Loan Amount
50% – 90% Property Value
Interest Rates
1% – 18%



EASY AND ACCURATE ITR FILING
AND
APPLY LOAN NOW!
FILE TODAY | MAIL DOCUMENT | 100% PAPERLESS
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3. ELIGIBILITY FOR LOAN AGAINST PROPERTY

Eligibility criterion for banks and other institutions are almost same for salaried professionals, self-employed professionals and self-employed businesspersons. According to the criteria, you:
·        Should be an Indian national
·        Should be at least 21 years of age at the time of submitting the loan application
·        Should have been employed by your current organization or been involved in your business for a certain number of years
·        Minimum required salary or monthly repaying capacity
·        Should have submitted EMIs for other loans and made your credit card payments on time for three months prior to submitting the loan application

DOCUMENTS REQUIRED FOR LOAN AGAINST PROPERTY
Salaried Employees
Self Employed/Professionals
Application form with photograph
Application form with photograph
Age proof( PAN card,Passport,Any other certificate from statutory Authority)
Age Proof(PAN card,Passport,Any other certificate from statutory Authority
Passport,Driving License,Telephone Bill,Ration Card,Any other certificate from statutory Authority- These are residence proves you need.
Residence Proof(Passport,Driving License,Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
Education Qualifications-Latest Degree
Education Qualifications-Latest Degree(for professionals)
Latest Salary-slips for 3 months, Form 16 for last 2 years.
Certificate & Proof of business existence along with Business profile
Last 6 months bank statements
Tax returns of last 3 years(self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
Processing Fee Cheque in favour of ‘PNB Housing Finance,Ltd’.
Last 12 months Bank Account Statements (self & business)
Photocopy of title Documents of the property, approved plan.
Photocopy of Title Documents of the Property, Approved Plan etc.
Note : All documents need self-attestation.

Easy and Accurate ITR Filing
and
apply Loan Now!
File Today | Mail Document | 100% Paperless
Get Expert Plan or Call 8700745227
www.taxwill.in




4. BUSINESS LOANS


WHAT IS BUSINESS LOANS?
If we have to put it in simple words then a Business Loan is thus an unsecured loan at an interest rate. It gives you access to credit that can be paid back over an agreed time along with the interest, without any security against it.
A business loan is debt that the company is obligated to repay according to the loan’s terms and conditions, before approaching a lender for a loan, it is imperative for the business owners to understand how loans work and what the lender will want to see from the owner.
Loan Term
1 – 5 Years
Maximum Loan Amount
₹ 25 Lakhs



ELIGIBILITY FOR BUSINESS LOANS
In order to apply for a business loan, you will require the following documents-
·        PAN Card for company, firm or individual
·        Proof of ID, in the form of, copy of Aadhar Card, Passport copy, Voter’s ID copy, driving license.
·        Proof of address, in the form of, copy of Aadhar Card, Passport copy, Voter’s ID copy, driving license.
·        Bank statement (last 6 months)
·        Latest ITR along with computation of income, balance sheet and P&L account for the last 2 years. All financials must be CA certified or audited.
·        Proof of continuation (ITR/Trade License/Establishment/Sales Tax Certificate)
·        Sole Proprietorship Declaration or certified copy of Partnership Deed
·        Certified true copy of Memorandum and Articles of Association

DOCUMENTS REQUIRED FOR BUSINESS LOAN

The following documents are required along with your Business Loan application:
-PAN Card – For Company/Firm/Individual
-A copy of any of the following documents as identity proof:
·        Aadhaar Card
·        Passport
·        Voter’s ID Card
·        PAN Card
·        Driving License
-A copy of any of the following documents as address proof:
·        Aadhaar Card
·        Passport
·        Voter’s ID Card
·        Driving License
-20-Bank statement of the previous 6 months
-Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
-Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate)
-Other Mandatory Documents [Sole Prop Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)]
EASY AND ACCURATE ITR FILING
AND
APPLY LOAN NOW!
FILE TODAY | MAIL DOCUMENT | 100% PAPERLESS
GET EXPERT PLAN OR CALL 8700745227
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