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)
|
Easy and Accurate ITR
Filing
and
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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
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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 :
|
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
|
|
Additional Documents
Requested from Salaried Applicants:
|
|
Additional Documents
Requested from Non-Salaried/Self-Employed/Professionals/Other IT
Assesses
|
|
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Filing
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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
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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!
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| 100% Paperless
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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
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