Category: Business Loan

Top Business Loan Consultants

S & P Bank Loan Consultants (BANKLOANS.ORG.IN) offer BUSINESS LOAN for all financial needs of a business in the first place. Any type of organisation like companies, proprietor firms or partnership business can apply. Find Top Business Loan Consultants in Chennai, Tamil Nadu, India.

Top Business Loan Consultants in Chennai, Tamil Nadu, India | S & P Bank Loan Consultants

How to avail a Business loan for your industry ?

Soar to Great Heights with Loans for Business !

Every business will need injection of funds from time to time. Funds will help keep business healthy and thriving as a matter of fact.

Need of funds for varied business

Organizations may need funds for varied business needs. In like manner, It is our pride to be of help to new startups and established businesses realize business dreams. As your lender we would like to be your financial pillars of your business success and growth in addition. Our customized loan products suit unique financial needs of a business in the same fashion.

Best Loan services at Competitive Interest Rates

Easy Loan Process

Our straight forward loan process makes getting a Loan easy in the same way. Moreover, Our Bank loan consultants will assess finance needs and suggest suitable loan proposals. We deliver exemplary corporate loan services at competitive interest rates by the same token. In fact, We aspire to be your financial partner than simple lender. We have best interests in your business growth and success. As you grow, so do we!
Finance short term working capital needs

BUSINESS LOAN SOLUTIONS for business expansion or new enterprise plans

Avail great BUSINESS LOAN SOLUTIONS for business expansion or new enterprise plans. of course, S & P Bank Loan Consultants (Bankloans.org.in) is here to support you. Likewise, Our client friendly corporate loan solution can aid you to finance your capital needs. It is helpful to finance short term working capital needs too. Meanwhile, It can be office expansion- asset purchase-stocking inventory- marketing or even pay roll.

Finance support for travel, e-commerce and retail businesses

Our loan consultants have decades of experience in servicing all kinds of businesses. We strive to make your loaning experience simple and hassle free. Most of all, Our consultants provide best business loans in India for every client. On the other hand, We support travel, e-commerce and retail businesses too.

Benefits of Business Loan

There are many ways to get funds for your business. You may issue equities or find investors / partners to finance your enterprise at the same time. In other words, You could reinvest profits in to your business in reality. But Business Loan is indeed one of the smart options to finance business needs. Truly, Let us assess various advantages of Loans for Business.

Advantage of taking out Business Loans

No bank influence

Investors will work alongside you in the business. But Banks do not work alongside you in your business. Investors would like have any say over the money spent. But bankers will be happy as long as you repay their loans with interest. This is a good idea as it helps to have good business control

Full business control

Financial lending help the organization to have business control. You can decide over expansion and growth plans. Banks do not care what you do with the funds of this loan as long as they get repayment with interest.

Easy and convenient

Getting a Business Loan is simple and easy when you a good business plan. You need to convince that your business idea are capable of generating revenues

Timely funds

Business owners need not have to wait to reap profits to fund their business needs. There is no need to hunt investors too as you can contact banks. Of course loan processing and approval takes little time. But it is easier to deal with a finance than other options

Fair rate of interest

The rate of interest for Business Loan is reasonable. In fact, banks are competing with each other to bag a good client. Hence you have choice of bagging a good loan proposal. In fact, the interest rates are lower than personal loan

Lower than personal loan rate

The interest rate is less than personal loan rates. Hence it is wise to borrow funds through Commercial Loan

Tax benefits

The interest you pay on business can be set off against the taxable profits of the business. Hence you need not worry too much on the cost of Business Loan. You can also check with your auditors to confirm the same, though, before taking a loan.

Profits are yours alone

The profits you earn from business are yours alone. You need not share your profits with banks. In case you had got from investors you have an obligation of sharing your profits. The loan repayment is of fixed EMI. It does not change irrespective of amount of business profits.

Disadvantages of Business Loan
All businesses do not qualify

– This loan is a long and strict procedure. All banks follow rules and conditions in processing and approval of loan application. Since you have possibility of rejection of loan application you may not want to waste time. Rejection can be a bit hard too for business.

Often need collateral

Many banks need collateral to Business Loans. Some businesses may not have business assets for collateral. Hence may fail to get this Financial support. Moreover when you do not reap expects profits your collateral asset may be at risk.

No full Loan approval

Sometimes, full amount of loan may not get approved. It is most common that 70% to 80% of Business Loan gets approved. Under such scenario it becomes difficult to arrange the balance funds. It is important to have alternate financing options under such events.

Best Business Loan Consultants in Chennai

To conclude, Ensure your business is careful in the event of borrowing money. Assess and weigh various borrowing options before you decide on Loan. This Loan have great many benefits when you have proper repayment plan in place. You need not go for a long hunt for funding through business investors or partners. Find the Best Business Loan Consultants in Chennai, Tamil Nadu, India.

WHY you must contact S & P Bank Loan Consultants ?
Flexibility

We give preference to convenience of our clients for Loan procedures for Business. Our loan consultants will help you match this loan offers with your cash flow at no extra costs.

Capital Needs

When you need infusion of capital , we can provide quick Business Loans. You get to finance your capital needs at competitive interest rates with low cost of capital.

Quick Business Loans

We have transparent loan eligibility rules. Need few basic proofs for processing loans. This makes you avail quick Loans for business. Conquer the opportunities through Loans for Business and reap great benefits.

No Security

We do not need collateral for few types of Business Loans. For more details get in touch with our loan consultants

Unique solutions

We have tailor made loan to suit your unique finance needs. Our pre-approved loan helps in quick loan disbursal.

Great Customer support

Our loan consultants are patient and customer friendly. We guide your all loan options and recommend you the best offer suitable for you.

Top Business Loan Consultants in Chennai, Tamil Nadu, India

Top Business Loan Consultants in Chennai, Tamil Nadu, India

Top Business Loan Consultants in our firm will support you through call, mails and Whats-app too. We prefer more in face to face interactions.

Documents required for Business Loan

We need basic KYC documents like PAN, address proof, and bank statements. Other proofs as necessary. The following are the basic documents required for Business Loan:

  • Latest photo
  • PAN card
  • Address proof like valid passport, EB bill or driving license
  • Latest Bank statements
  • GST or IT Return acknowledgement and forms
  • Proof of income
  • Business registration proof
  • Other documents

For a complete list get in touch with our loan consultants.

FREQUENTLY ASKED QUESTION ON BUSINESS LOAN
What is Business Loan ?

This Loan is one of the financing options of an organization. They can finance their business needs through bank loans. This loan is a financial obligation. The borrower has to repay principle amount with interest during the agreed period.

How to apply for Business Loan ?

Applying for a Loan for your Business is simple and easy. Get in touch with our loan advisors. We will guide you through the entire loan process till loan disbursal.

How do I check my eligibility for a Commercial Loan ?

Business owners with good credit history have good chances of loan approval. In case you do not have good credit track contact our loan advisors can guide you.

Do you have tax benefit for Business Loan ?

Yes. The interest paid on Business Loan is eligible for tax deduction. Hence, The interest amount is tax deductible item of a business. For more details you can check with your auditors.

How to calculate Business Loan EMI ?

You can use online Loan calculator to check your monthly repayments. By all means, You could also call our loan advisers for more guidance.

Posted on

Fueling Business Growth: Business Loans with S & P Bank Loan Services

Fueling Business Growth: Business Loans with S & P Bank Loan Services

Fueling Business Growth with Business Loans: In today’s dynamic business landscape, securing the right financial resources is paramount for growth and success. This is where S & P Bank Loan Services steps in, offering a comprehensive suite of business loan options designed to propel your entrepreneurial aspirations forward. This article will explore the advantages of partnering with S & P Bank and how their loan solutions can empower you to achieve your business goals.

Unleashing Your Potential: Fueling Business Growth with S & P Bank Loan Services

Understanding Your Needs:

At the heart of S & P Bank Loan Services lies a commitment to understanding your unique business requirements. Their experienced loan specialists will take the time to delve into your company’s financial situation, growth plans, and long-term objectives. Through open communication, they’ll gain a clear understanding of your specific needs and tailor a loan solution that perfectly aligns with your business goals.

A Spectrum of Loan Options:

S & P Bank recognizes that “one size fits all” doesn’t apply to business financing. That’s why they offer a diverse range of loan options to cater to various business needs. Here’s a glimpse into some of the key offerings:

  • Term Loans: Require a one-time lump sum for a specific purpose, such as purchasing equipment or expanding your inventory? Term loans provide the necessary capital with fixed repayment terms, offering predictability and stability for your cash flow.
  • Lines of Credit: Need access to flexible funding for ongoing operational expenses or unexpected opportunities? Lines of credit function like a revolving credit card, allowing you to withdraw funds as needed, up to a pre-approved limit.
  • Small Business Administration (SBA) Loans: Looking for government-backed loans with potentially lower interest rates and flexible terms? S & P Bank is a trusted SBA lender, expertly guiding you through the application process for these specialized loan programs.

Beyond the Loan: Added Value Services:

S & P Bank Loan Services go beyond simply providing financial resources. They understand that successful businesses require a holistic approach. That’s why they offer a suite of additional services, including:

  • Financial Planning: Their experienced advisors can guide you in developing a sound financial roadmap for your business, ensuring your loan is strategically integrated into your overall financial growth strategy.
  • Cash Management Solutions: S & P Bank offers innovative tools to optimize your cash flow, streamline receivables, and simplify payments, allowing you to manage your finances more efficiently.
  • Business Checking and Savings Accounts: They provide tailored business banking solutions to manage your day-to-day operations, accrue interest on idle funds, and facilitate smooth financial transactions.

Building a Long-Term Partnership:

S & P Bank Loan Services view themselves as partners in your success story. They’re committed to building a long-term relationship with your business, offering ongoing support and guidance as your company grows. Their dedicated relationship managers will be readily available to address your evolving needs and explore new financing options as your business matures.

FAQs:

1. What documents do I need to apply for a business loan with S & P Bank?

The required documents can vary depending on the loan type and your business structure. However, generally, they may include financial statements, business plans, tax returns, and personal identification documents.

2. What factors influence the interest rate on my business loan?

Several factors can affect your interest rate, including your creditworthiness, loan amount, loan purpose, and repayment term.

3. How long does it take to get approved for a business loan?

The approval process can vary depending on the complexity of your loan request. However, S & P Bank strives to streamline the process and provide a timely decision.

4. Can I use a business loan for any business purpose?

Loan proceeds can be used for various purposes, such as equipment purchases, inventory expansion, marketing initiatives, or even debt consolidation. However, some limitations might apply depending on the specific loan program. S & P Bank will discuss the eligible uses of funds for each loan option.

5. What are the benefits of using S & P Bank Loan Services over other lenders?

S & P Bank offers a personalized approach, diverse loan options, and a commitment to long-term partnership. Additionally, their expertise and experience in business financing can provide invaluable guidance as you navigate your growth journey.

Conclusion:

By partnering with S & P Bank Loan Services, you gain access not just to financial resources but also to a team of dedicated professionals invested in your business success.

Read More

Posted on

Expert Financial Advisory Services: Your Guide to Wealth Management and Retirement Planning

Expert Financial Advisory Services: Your Guide to Wealth Management and Retirement Planning

Looking for expert financial advisory services? Discover how S & P Bank Loan Consultants can help you achieve your financial goals. Tailoring our services to your unique needs, we offer comprehensive wealth management, financial planning, and retirement planning. Additionally, our expertise extends to investment advisory, tax planning, and estate planning services. With our professional guidance, you can secure your financial future and make informed decisions. Contact us today to schedule a consultation with our experienced advisors and take the first step towards financial success.

“Expert Financial Advisory Services: S & P Bank Loan Consultants”

Financial advisory services are integral to sound finance management and planning. Specializing in comprehensive financial advisory services, S & P Bank Loan Consultants caters to your unique needs and goals. Additionally, we tailor our services to ensure they meet your specific financial objectives.

Here’s how our finance advisory services can benefit you:

  1. Wealth Management: Our expert advisors provide personalized wealth management solutions to help grow and protect your assets.
  2. Financial Planning: We offer strategic financial planning services designed to help you achieve your short-term and long-term financial objectives.
  3. Retirement Planning: Our advisors assist you in creating retirement plans that ensure a secure and comfortable retirement.
  4. Investment Advisory: We offer expert investment advice to help you make informed investment decisions and maximize returns.
  5. Tax Planning: Our team helps you develop tax-efficient strategies to minimize tax liabilities and optimize your financial position.
  6. Estate Planning: To safeguard your assets and fulfill your wishes, we offer comprehensive estate planning services. Additionally, we ensure the protection and fulfillment of your estate planning needs.

Read More

S & P Bank Loan Consultants, committed to excellence, offers the highest level of financial advisory services. Leveraging our extensive expertise and personalized approach, we ensure your financial needs are met. Contact us today to schedule a consultation and take control of your financial future.

Posted on

S & P Bank Loan Services: The Best Finance Consultants 24/7

S & P Bank Loan Services The Best Finance Consultants 24_7

Navigating the Financial Landscape: The Indispensable Role of Finance Consultants and the Excellence of S & P Bank Loan Services

In today’s complex financial landscape, achieving our financial goals can be a daunting task. Whether it’s managing personal finances, securing funding for a business, or planning for long-term wealth growth, expert guidance is essential. Finance consultants play a pivotal role in providing the necessary expertise and strategies to navigate these challenges. One of the top names in the finance consulting industry is S & P Bank Loan Services, renowned for its exceptional services and client-centric approach.

Section 1: Understanding the Role of Finance Consultants

Defining Finance Consultants: Who are They and What Do They Do?

Finance consultants are professionals who specialize in providing expert advice and assistance related to financial matters. They work closely with individuals, families, and businesses to analyze their financial situations, identify opportunities for improvement, and develop personalized strategies to achieve specific financial goals.

The Advantages of Hiring Finance Consultants

Engaging the services of a finance consultant offers numerous benefits. These experts possess in-depth knowledge of the financial industry and can provide valuable insights into investment options, risk management, and tax planning. They save clients time and effort by handling complex financial tasks and offer unbiased advice based on their expertise.

How Finance Consultants Assist Individuals and Businesses

Finance consultants cater to the diverse financial needs of both individuals and businesses. For individuals, they offer services like budgeting, debt management, and investment planning, helping them achieve financial stability and security. Businesses benefit from financial analysis, strategic planning, and capital acquisition services, essential for growth and expansion.

Section 2: Key Qualities of Top-notch Finance Consultants

Expertise and Knowledge in Finance Industry

Top finance consultants possess a wealth of knowledge and expertise in the financial domain. They stay updated with the latest market trends, tax regulations, and investment opportunities, enabling them to offer accurate and timely advice to their clients.

Strong Analytical Skills and Problem-Solving Abilities

Analytical skills are paramount for finance consultants as they need to evaluate complex financial data and identify patterns and opportunities for improvement. Additionally, they excel in problem-solving, devising creative solutions to tackle financial challenges effectively.

Effective Communication and Interpersonal Skills

Communication is vital for finance consultants to understand their clients’ financial goals and explain complex financial concepts in a comprehensible manner. Strong interpersonal skills foster trust and collaboration, facilitating a seamless working relationship with clients.

Section 3: S & P Bank Loan Services – A Trusted Name in Finance Consulting

Company Background and History

S & P Bank Loan Services boasts a rich history in the finance consulting industry. Established over three decades ago, the company has earned a stellar reputation for its commitment to excellence and client satisfaction.

Range of Services Offered by S & P Bank Loan Services

S & P Bank Loan Services offers a comprehensive suite of financial services tailored to meet the unique needs of individuals and businesses alike. From personal finance consultation to business expansion strategies, their expertise covers a wide spectrum of financial domains.

Success Stories and Client Testimonials

The true measure of a finance consultant’s worth lies in the success stories of their clients. S & P Bank Loan Services takes pride in the positive outcomes they have delivered to numerous satisfied clients, as evidenced by glowing testimonials and case studies.

Section 4: Why Choose S & P Bank Loan Services

Transparent and Client-Centric Approach

One of the standout features of S & P Bank Loan Services is their transparent and client-centric approach. They prioritize understanding their clients’ goals and concerns, ensuring that the financial solutions offered align perfectly with their needs.

Customized Financial Solutions for Different Needs

Recognizing that every individual or business has unique financial requirements, S & P Bank Loan Services emphasizes developing tailor-made solutions. This bespoke approach ensures that clients receive the most effective strategies to address their specific financial challenges.

Proven Track Record of Delivering Results

A proven track record is a testament to a finance consultant’s capabilities. S & P Bank Loan Services’ history of successful financial outcomes demonstrates their expertise in delivering results and creating long-term value for their clients.

Section 5: S & P Bank Loan Services’ Areas of Specialization

Personal Finance Consultation

S & P Bank Loan Services offers comprehensive personal finance consultation services to help individuals manage their finances effectively.

Budgeting and Saving Strategies

The finance consultants at S & P Bank Loan Services assist clients in creating realistic budgets and implementing effective saving strategies to achieve financial stability.

Debt Management and Consolidation

Managing debts can be challenging, but S & P Bank Loan Services provides expert guidance to consolidate debts and develop manageable repayment plans.

Investment Planning and Wealth Building

For those looking to build wealth and secure their financial future, S & P Bank Loan Services offers professional investment planning advice.

Business Finance Consultation

Businesses benefit from S & P Bank Loan Services’ expert guidance in various financial aspects to achieve growth and success.

Financing Options and Capital Acquisition

Finding the right financing options and securing capital are crucial for business growth, and S & P Bank Loan Services excels in this domain.

Financial Analysis and Risk Management

The finance consultants at S & P Bank Loan Services analyze business financials and offer risk management strategies to ensure sustainable growth.

Business Expansion and Growth Strategies

S & P Bank Loan Services partners with businesses to develop effective expansion and growth strategies, maximizing their potential for success.

Section 6: 24/7 Finance Consultation – Ensuring Support Whenever You Need

Understanding the Importance of Round-the-Clock Consultation

Financial challenges can arise at any time, necessitating immediate support. S & P Bank Loan Services recognizes the importance of 24/7 consultation to address clients’ financial concerns promptly.

How S & P Bank Loan Services Provides 24/7 Assistance

S & P Bank Loan Services offers various channels for round-the-clock support, including phone consultations, email communication, and online chat services.

Section 7: The Process of Engaging S & P Bank Loan Services

Initial Consultation and Needs Assessment

The first step involves an initial consultation where clients discuss their financial goals and concerns with the finance consultants.

Developing Tailored Financial Solutions

Based on the needs assessment, S & P Bank Loan Services develops customized financial solutions for each client.

Implementation and Ongoing Support

Once the strategies are agreed upon, the finance consultants assist in implementing the plans and providing ongoing support as needed.

Section 8: Client Success Stories with the Best Finance Consultants: S & P Bank Loan Services

Case Study 1: Helping a Family Achieve their Financial Goals

Explore a real-life case where S & P Bank Loan Services enabled a family to achieve their dreams through effective financial planning.

Case Study 2: Assisting a Startup Secure Funding for Growth

Discover how S & P Bank Loan Services played a crucial role in helping a startup secure the necessary funding for expansion.

Section 9: Industry Recognition and Awards

Recognitions and Accolades Received by S & P Bank Loan Services

S & P Bank Loan Services has received various industry awards and recognition, further validating their excellence in finance consulting.

Section 10: Frequently Asked Questions (FAQs) About Best Finance Consultants and Finance Consultation

What does a Finance Consultant do?

Learn about the roles and responsibilities of finance consultants in helping clients achieve financial success.

How can a Finance Consultant help improve my financial situation?

Discover the various ways in which finance consultants can assist in improving personal and business financial situations.

What sets S & P Bank Loan Services apart from other finance consultants?

Understand the unique features and advantages that make S & P Bank Loan Services a preferred choice in finance consulting.

Read More:

Conclusion

Recap of the Importance of Finance Consultants: Finance consultants play a pivotal role in guiding individuals and businesses towards financial success. With their expertise and customized strategies, they help clients achieve their financial goals and secure a stable future. S & P Bank Loan Services stands out as a top-notch finance consultant, offering transparent and client-centric services. Through their proven track record and industry recognition, they have earned the trust of clients worldwide. Whether it’s personal finance consultation or business growth strategies, S & P Bank Loan Services is the go-to choice for reliable and effective financial guidance.

Posted on

Benefits of Business Loan

Benefits of Business Loan in Chennai


What are all the Benefits of Business Loan ?. Who is the Best Bank Loan Consultants for Business Loans in Chennai, Tamil Nadu, India. Contact S & P Bank Loan Consultants which is one of the Top Finance Consultants in India 24/7.

Borrowing money from bank as a business loan

Are you running a business?  Business always need finance at all its stages. Managing business with own funds for long tenure is difficult. You may need finance to buy asset or other business expenses. Borrowing money from bank as a business loan is the best option for your finance needs.

What are all the Benefits of Business Loan ?. Who is the Best Bank Loan Consultants for Business Loans in Chennai, Tamil Nadu, India.

Business Loans as secured or unsecured

Business Loan serves as a powerful tool for any business. You can take Business loan for purchase of stock and new machinery. You can also avail Business Loan expansion and any major business expenses. Bank offer Business Loans as secured or unsecured. It varies from bank to bank and depends on other parameters. We will look into why you have to go for a business loan.

Receives huge cash inflow for business

The easiest and best way to raise money for business is business loan. It can be for launch, growth or expansion of business. Bank offers business loan for all business purposes. Business loan is the best option to raise large amount of funds for multiple purposes.

Finance is lifeline of any business. With huge cash inflow, you can make advance payment for materials and negotiate for a discount with supplier. This will increase your profit and you can sell the goods at competitive price. You can also increase your market share.

Retains the control and Management of the Company

If you take a business loan, bank does not interfere in day-to-day activities of the business. It does not involve in any major business decisions. If you raise funds through equity shares, business issue shares to shareholders. If you raise funds through investor, they involve in management decision. Taking business loan, retains the control and management of the company with promoters.

Find the Benefits of Business Loans in India

No profit Sharing with anyone

Bank does not ask for profit share in your business. Even company grows tremendously, because of Bank loans. Bank only demands loan amount with added interest. For equity fund raisers, business has to pay dividends. Fund raiser being investor, he demands for share of profit, in proportion to growth. Availing bank loan helps you to improve your own business without sharing of profits.

Convenient and Accessible

All the banks offer various types of business loan products. You can easily access to any business loans. We make the loan process simple for you. Most lenders offer loan through online. Submit the documents in online. Approval and disbursal process is quick.

Our S & P loan consultants would handle whole loan process on your behalf. In fact, We provide a dedicated team with personal relationship manager to handle all your doubts in business loans.

Collateral Free

Gone are the days, where business loan is offered against collateral. Now banks offer collateral free loans for new ventures too. To support economic envelopment, Government has introduced MUDRA and CGTMSE scheme. No collateral for government scheme loans.

Business plan, viability, future cash flow and credit history

Banks look into your business plan, viability, future cash flow and credit history. If all parameters are good, bank approves the loan without collateral. Our Loan consultants will help you to get maximum loan amount with best lender, offers and concessions. By the way, You can reap the full benefits of business loan.

Reasonable Interest Rate:

Banks are competing among themselves for offering loans. This is good situation for business owners. You can negotiate for a reasonable lower rate which reduces your cost. Banks consider business financials while evaluating loan application.

Interest on loan is claimed as expenses in profit and loss account of your business. Thus, interest is tax-deductible.

Flexible Tenure:

Business Loan can be for working capital or purchase of fixed asset. It can be for expansion plans too. You may need some holiday period for interest and principal payment of loan. Moreover, You can use the holiday period for stabilizing the business in the market.

Short term Finance

Some business need only short term finance. Few business may need bullet repayments, cash realization may take longer time in this business. Lenders understand your need, business design and financial parameters. Based on your need, lenders offer loan tenure and repayment options.

If your credit history and financials are good, banks offer you lower EMI, compared to market rate.

Contact S & P Bank Loan Consultants for Business Loans. | Top Finance Consultants in India

Find the Benefits of Business Loans

Benefits of business loan is incomparable. Business loan takes you to next level in business. If you are looking out for business loan, we help you out with hassle free loan process and quick disbursal. By all means, We hope you have understood the Benefits of Business Loan. Find the Best Bank Loan Consultants for Business Loans in Chennai, Tamil Nadu, India.

Contact S & P Bank Loan Consultants, One of the Top Finance Consultants in India.

 

Posted on

RBI’s 3 months Term loan EMI repayment pause: Experts’ outlook

Reserve Bank of India | EMI relief for 3 Months | Best Bank Loan Consultants in Chennai Tamil Nadu India

RBI’s 3 months Term loan EMI repayment pause: Experts’ outlook

Three month pause in EMI repayment for term loan borrower

RBI Governor announces three month pause in EMI repayment for term loan borrower. The EMI Pause is between March 1st 2020 and May 31st 2020. As per RBI data as on Jan 2020 there is 13 lakh crore of Housin RBI data g Loan and 2 lakh crore of auto loan pending.

Let us hear out experts’ opinion about the latest RBI announcement.

RBI’s 3 months Term loan EMI repayment pause: Experts’ outlook

Home loan EMIs or Auto Loan EMIs

Due to RBI’s 3 month moratorium few borrowers may not pay home loan EMIs or Auto loan EMIs for next 3 months. Under such scenario, few experts reason out that they will have to pay higher interest rate at the end of 3 months.

Financial loan analysts

Financial loan analysts say that simple interest get levied on the outstanding loan. The loan gets treated as repayment due but not paid. They are of the opinion that this is an extra loan cost which you can avoid with on time EMI repayments. The extra simple interest gets added to 3rd month EMI increasing the monthly bill. The extra simple interest may be a burden on all future EMIs too. Else your loan term can get increased in case of same EMI repayments.

An anonymous finance analyst feels borrowers must pay simple interest in one shot. They end up paying more EMIs. Clarification from the banks on the same is being awaited by experts.

Floating rate loans with loan tenure extension facility

RBI moratorium results in extension of loan tenure by 3 more months. This is workable for floating rate loans with loan tenure extension facility.

The addition interest may reflect on all future EMIs of the borrower. This is an extra burden on borrowers’ budget. But banks may keep EMI amount same but increase number of EMIs. This also affects borrowers’ loan cost.

Cash flow troubles due to COVID-19

MoneyTap’s CBO and Co-Founder Mr. Kunal Varma responded to this RBI announcement as below. He says 3 month EMI moratorium could be welcome for borrowers with cash flow troubles due to COVID-19. The borrowers can delay payment for 3 months. But in the end they are liable to pay off the EMIs with simple interest come June. It is important to note it is not loan waiver but shift in payment schedules.

Postponing EMI repayments

He told salaried income borrowers with steady incomes need to assess their finance. They need to consider revised EMIs and interests too before postponing EMI repayments

Big relief to borrowers
  • Home Loans
  • Auto Loans
  • Education Loans
  • Agricultural term Loans
  • Retail and crop Loans Borrowers

Reserve Bank Governor announces repayment schedule shift by 3 months after moratorium. It’s big relief to borrowers of home loans. Auto loans, education loans, agricultural term loans, retail and crop loans borrowers too. It applies to Debtors with credit card dues too.

Commercial banks | Co-operative banks | All-India Financial Institutions | NBFCs

RBI’s circular says that “In respect of all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies) has permission to avail a moratorium of three months on payment of all installments falling due between March 1, 2020 and May 31, 2020,”

Interest shall continue to accrue on the outstanding portion

The circular quotes that “The repayment schedule for such loans as also the residual tenor, will be move across the board by three months after the moratorium period. Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period,”

This RBI move is relaxes loan repayment to retail borrowers, MSMEs and companies.

 

Posted on

CIBIL score

Find Top Bank Loan Consultants for Low Cibil Score 

CIBIL Score – Cibil Top credit information company in India

Transunion CIBIL Limited is the top credit information company in India. The company has got credit info access of 600+ million people. Moreover, They have 2400 members aboard. Of whom top lenders are inclusive. Find Top Bank Loan Consultants for Low Cibil Score.

Most trusted credit rating companies

In India, CIBIL is one of the most trusted credit rating companies. They offer credit score or rating to persons or business organizations. Meanwhile, This score or rating is also known as CIBIL Score. Often credit score and CIBIL score is being used as synonyms.

CIBIL has access to all your financial transactions of borrowings ,repayments & credit history. On the other hand, They assess your financial history and give ratings as CIBIL score.

What is CIBIL score?

CIBIL score is the one of the most vital credit evaluation factor. By all means,  It is like yardstick measurement of your creditworthiness. By the way, It is based on your earlier financial activities.

Find Top Bank Loan Consultants for Low Cibil Score. 

Credit rating given by Transunion CIBIL Ltd.

CIBIL score is the Credit score or credit rating given by Transunion CIBIL Ltd. Most of all, This score gets determined by CIBIL based on your credit history & CIBIL report. CIBIL maintains your credit record containing financial info.

Popular credit info companies

There are other popular credit info companies like Equifax, Experian and High Mark. They have their own credit scoring systems. But CIBIL is the leader in the credit info world. Majority of Banks consider CIBIL score of a Bank Loan applicant.

CIBIL score before Loan Approval.

Every finance company or lender examines CIBIL score before loan approval. For instance, a doctor determines your vitals before a medical process. In the same way a lender examines your credit score before loan processing. Choose the best bank Loan Consultants for Low Cibil Score

Credit worthiness of Loan Applicants

The credit info company, Transunion CIBIL has link with most of the top banks. Of course, This makes it easy for them to assess credit worthiness of millions of loan applicants. CIBIL score is a 3 digit number. Above all, It range between 300 & 900.

Good financial discipline and integrity

High CIBIL score implies that proposed applicant has good financial discipline and integrity. Whenever you apply for loan or credit card your latest score for last 6 months gets checked. In general score above 700 is a good score. Yet some banks may have higher standards and some banks do not mind these scores at all.

What is Credit Score? Why maintaining a good credit score is important?

Credit score defines the creditworthiness of a person or business. Let’s compare credit score to average exam score. If your average mark is 60, then it means you are consistent persons scoring 60. This makes you a good student. When your credit score is high, your past borrowings & repayments were responsible.

Reliability or risky nature of loan applicant

Credit score showcases the reliability or risky nature of loan applicant. Thus credit score has great impact on loan eligibility,. loan amount approval & interest rate. The lenders will be able to assess potential risk in lending you the money. Credit score has great influence when you borrow no collateral or unsecured loans.

Good business credit score

Like an individual, business credit score also impacts business image and credibility. A good business credit score will help them secure huge investments. Advantages of CIBIL score are as follows

  • Full loan amount approval
  • Low interest rate-Better loan terms.
  • Lower loan cost.
  • Quick processing.
  • Pleasant Loan Experience.
  • Good repayment terms.
  • Power of bargaining
  • Portrays great image
Full loan amount approval-

A good CIBIL score clears all your loan processing hurdles. Many lenders will be competing with each other to lend you. Hence you can be sure of getting full amount of money you applied for loan.

Low interest rate-

There will be competition among lenders to offer you loan as you have good CIBIL score. Many credit offers will have low of interest rate

Better loan terms. –

Many banks or NBFCs are ready to offer better loan terms for good CIBIL score applicants. They may waive off loan processing fees or legal fees or approval charges too. Some banks may not need collateral or guarantor for good applicants. Hence you can get better loan terms

Lower loan cost. –

You enjoy benefit of getting loans at lower cost with better loan terms. It may be like no loan processing fees or legal fees or approval charges.

Quick processing. –

Banks and finance companies give priority to applicants with good CIBIL score. It involves simple documentation and hassle free loan process.

Pleasant Loan Experience. –

Impressive credit image and great CIBIL score goes a long way in a finance world. All loan hurdles gets vanished making you getting finance a pleasant Loan experience

Good repayment terms. –

Your banker can agree to your convenient loan repayment tenure when you have good CIBIL Score. Make use of this great opportunity with maintaining good CIBIL score.

Power of bargaining.-

CIBIL score gives the borrower the power of bargaining. There are many lenders in the market to offer loans to applicants with good credit score. Hence you have the bargaining power chip on your shoulder with good CIBIL score.

Portrays great image.-

Honesty and responsibility are positive qualities. Financial responsibility and integrity are great traits valued in business world. A good credit score helps you to impress your lenders with great positive image

What we should do when we get a loan

Getting your loan approved and having money in your account is not the end of the story. In fact it is the beginning of your credit record. In case if you are first time borrower, credit information companies opens new record. Past borrowers’ are also on track of , credit evaluation companies. Hence you will be under the radar of the credit info companies. They keep track of repayments, foreclosures and delayed payments/defaults. This will have great impact CIBIL or credit score. Credit history has big effects on possibilities of getting new loans in future.

Repay EMIs on time and be regular

As a borrower it is your financial responsibility to repay your EMIs on time every month as agreed. This helps you to have financial discipline in repayment of dues. Be it a short term credit or small loan dues make payment on time and in full. Loan repayment delays & defaults may hamper your credit profile and future loan opportunities.

During emergencies, give priority to loan repayments. They attract penalties and extra interest. To avoid missing due dates, you can give ECS to bankers.

Be a responsible borrower

Loans do not come cheap and free. You have the responsibility to repay your loan with interest. You may be eligible for loan. But that does not mean you to borrow for your luxuries or investment splurges. Borrow when you have need. Use the funds in a wise way. Overcome your financial needs.

Get Loan insurance

Insurance on loan is a smart move for both the borrower and lenders. In particular when the loan amount is huge and is of long tenure. Loan insurance covers the risk of un-affordable debt to your family. The repayment burden may come upon them on dire circumstances. Term insurance for loan not only covers a single loan but a group of loan too covering a fixed period. There will not be any problem when you switch lender.

Keep-up your market research

It is always a good habit to keep track of financial market when you are borrower. Banks and NBFCs often float attractive loan offers. These may be profitable than your ongoing loan. Under such cases you can replace your current lender with the profitable loan option. You may also need to consider the prepayment charges, penalties and other fees too.

Comprehend the loan contract

Loan contracts are full of legal clauses and phrases. They may be difficult to understand and comprehend for a common man. It is important you deduce all the points. It is wise to seek help of Advocates or Chartered accountants to go over your Loan contract.

Debt consolidation

When you have many loans running with high costs, debt consolidation is good. This move will help you ease monthly EMIs or interest rates or tenure. When you provide collateral or make bulk repayments your loan cost comes down.

Keep your retirement corpus safe

Parents do not want to burden their children with loans. A dip in your retirement fund for your child education may not be a good idea. You have education and student loan for those finance needs. Hence plan your finance options and keep your retired life at peace.

Update your family and spouse about loan

It is important to keep your spouse and family about your borrowings. As it has great impact over your household finance. You need to have their co-operation too as it may impact the family budget. It reduces your emotional burden when your family supports you.

Find Top Bank Loan Consultants for Low Cibil Score

Loan Serves in Areas Served as as follows

North ChennaiKarambakkamKanathurErukanchery
Manali new townVadapalaniMuttukaduBroadway
Kodungaiyur EastSaligramamKelambakkamPonneri
Kodungaiyur WestShakthi NagarKovalamAthipattu
MadhavaramSri Iyyappa NagarSiruseriCoimbatore
Madhavaram Milk ColonyVirugambakkamJamaliaSholavaram
Mathur MMDAAlwarthirunagarKallikuppamMinjur
PuzhalValasaravakkamPattabiramRed Hills
MoolakadaiThirunindravurKosapetEnnore
KolathurThirumangalamWest ChennaiAvadi
Parry’s CornerThirumullaivayalAlapakkamPattabiram
RoyapuramThiruverkaduAnna NagarThirunindravur
VillivakkamNandambakkamAnnanurIyyappanthangal
PeramburNerkundrumAgathiyar NagarKattupakkam
KorukkupetNesapakkamAmbatturPoonamallee
TiruvottiyurNolamburBhuvaneshwari NagarThirumazhisai
VyasarpadiRamapuramChinmaya NagarThiruvallur
ManaliMugalivakkamC.M.D.A ColonyPallavaram
TondiarpetMangaduDefence ColonyPozhichalur
Vallalar NagarM.G.R NagarPadiAnakaputhur
EnnoreM.G.R GardenAyappakkam.Pammal
Old WashermenpetPallavan NagarThiruvallurKundrathur
KavangaraiPorurArakkonamMangadu
New WashermenpetPoonamalleeKoratturChrompet
KorukkupetMoulivakkamMogappair EastThiruneermalai
MannadiMMDA ColonyMogappair WestKeelkattalai
George TownSouth ChennaiArumbakkamChitlapakkam
Seven Wells East ChennaiAvadiTambaram
Basin BridgeMylaporePudurSelaiyur
SowcarpetPerungudiMaduravoyalMadambakkam
Park TownSholinganallurKoyambeduMedavakkam
PeriametuAlandurAshok NagarSithalapakkam
ChoolaiAdyarKK NagarKovilambakkam
VepperyBesant NagarKK Nagar WestNanmangalam
PattalamTriplicaneKK Nagar EastKarapakkam
PulinanthopeT. NagarOragadamPallavaram
M.K.B NagarThiruvanmiyurAyapakkamTambaram
Sharma NagarSaidapetPattravakkamPerungalathur
SelavoyalGuindyThirumullaivoyal northPalavanthangal
EdapalayamMadipakkamAvadi northPeerkankaranai
MAnjambakkamNanganallurRedhillsMudichur
PonniammanmeduVelacheryAjaxVandalur
SembiamTaramaniKathivakkamKolappakkam
T.V.K NagarPallikaranaiErnavurKandigai
ICF Colony northKeelkattalaiWIMCOMambakkam
CentralKovilambakkamSathangaduPudhupakkam
PadiThoraipakkamRajakadaiPalavakkam
KoratturNeelankaraiKadambakkamVaradharajapuram
Lakshmi puramInjambakkamKathirveduMedavakkam
Ambattur northChromepetMoolakothiramPazhaverkadu

Posted on

NBFC Non Banking Finance Company vs Banking Finance

Non Banking Finance Company NBFC vs Banking Finance

NBFC and Banking Finance

NBFC, a company registered with ROC under Companies Act, 1956

Non Banking Finance Company in short is NBFC. An NBFC is a company registered with ROC under Companies Act, 1956. NBFC is a company that offers banking services to people without a banking license from RBI. Non Banking Finance Companies are under the regulation of RBI. They need to follow Companies Act guidelines too.

Find the Best Loan Consultants for Non Banking Finance Company in Chennai, Tamil Nadu, India

 

NBFCs offer great support in development of a nation. They support backward sections of society. Rural segments get Bank credits from Non Banking Finance Companies. They aid boosting transport, education and create wealth of an economy.

NBFC and Banking Finance NBFC, a company registered with ROC under Companies Act, 1956

How Non Banking Finance Company works

NBFC companies do not accept deposits repayable on demand. NBFC are more into credit creation. They do no maintain any reserve ratio. Non Banking Finance Company depositors do not have deposit insurance facility.

Business activities of NBFCs

The nature of business activities of NBFCs can be about loans & advances. Buying of shares, bonds & other securities. Leasing, hire-purchase, insurance or chit business. They do not include companies related to agriculture, immovable property or industrial activities.

Demand for Loans, credit and other financial needs

NBFC supports both individual and business borrowers. They support applicants who have trouble in meeting traditional bank eligibility standards. They meet rising demand for loans, credit and other financial needs of people.

Alternate sources of finance

NBFC are not only an alternate sources of finance, they are more efficient too. Clients have direct contact with NBFCs. Thus this eliminates unnecessary financial intermediaries when one seeks loan. They provide credit and finance to keep the liquidity of our economy.

Wide range of Financial products and services

They offer wide range of products and services. They are credit facilities. Loans & advances. Saving and investment plans. Acquiring of stocks /shares. Hire-purchase. Insurance or chit business. Money transfer services.

Education loans & retirement plans

They also offer education loans & retirement plans. They do stock-shares underwriting and money market trade. In fact, They issue term finance certificate and are in to other activities. NBFCs are also into wealth management services. It can be shares discounting services & stock portfolio management.

Trade finance, venture finance and specialized equipment finance

They offer finance for Construction equipment, Commercial vehicles and cars. They offer gold loans. Loan against shares. Consumer durable loan. 2 wheeler loans. They fund infrastructure assets like plant and machinery and aid project finance too. They provide trade finance, venture finance and specialized equipment finance.

NBFC VS BANKING FINANCE

Getting loan is no more a trouble now. If you are eligible applicant, you can have more than one loan offers from banks and NBFC. When you loan options from both banks and NBFC, you will be in a wondering which loan to opt for. Before you decide, Let us compare both the loan options.

Finance intermediaries

NBFC are becoming popular among borrowers. They offer better performance than banks with great customer support. Banks and NBFC are both finance intermediaries. Their services are pretty much same. This is where the customer is in a dilemma who one to choose.

Some of the advantages of NBFC over bank finance are:

Quick loan sanctioning process. – A loan application goes through varied procedures involving stringent verification. Both banks and NBFCs have their own system of verification. Online facilities and technology can help you bring down loan application process time. NBFCs processing time is low when compared to banks. Hence getting quick loan money in to your account is simple and easy with NBFC.

Less time for loan process. –

NBFC follow stringent verification process like banks. But they accommodate scan proofs of required copies online too. This takes them less time to approve and sanction loans. You can get processed and approved within few hours too with NBFCs.

Flexibility of loan terms. –

Banks need to follow loan and conditions terms as instructed by RBI. But NBFC has the freedom to decide about loan term with the borrowers. Hence NBFC has edge over bank loan terms. You can skip the boring loan paperwork with NBFC. But banks do insist on loan paperwork. NBFC support online loan application. Whereas all banks do not accommodate online loan applications. You can get top loan amount with long tenure within few hours approval with NBFCs.

Attractive features and benefits. –

NBFC offers many positive features and benefits to both new and existing borrowers. Banks loans also have good features and benefits. But they not be as attractive as NBFC.

Wide arrays of tailored loan products.

– NBFC are ready to offer a wide range of tailored loans and other financial products. This is very much beneficial to borrowers when get good loan offers with low loan cost.

Great customer service.

NBFC often do involve any middlemen to approach clients. They have direct contact with clients without any middlemen. This helps them to understand the customers’ needs better. Both banks and NBFC are into meeting finance demands of their customers. But NBFCs offer dedicated customer services to derive customer satisfaction. They have customer relationship manager who are happy to help all the time.

Cheap loans and low interests. –

Bank interest rates are under RBI regulation. Their interest rate includes base rate + margin. Bank loans involves certain costs. They are processing fee, application fee or legal fee. NBFCs interest rate is RPLR based. Non Banking Finance Company have freedom to fix interest rate that is not linked to RBI. Hence one can avail loan at low interest without other fees too.

Less Rules and Regulations. –

Getting loans from NBFC is much easy than bank loan. It is because they do not follow complicated loan processing rules like banks. But do involve in stringent verification that are convenient to clients.

Loan offers for poor credit score. –

NBFC offers loan to applicants who have poor credit score. Banks may not encourage applicants with less credit score below the loan eligibility. They consider low credit score a high risk loan. Non Banking Finance Company accommodates low score applicants with suitable loan products.

Choose Top Finance Consultants in Chennai, Tamil Nadu, India

Sometimes interest and collateral may vary on the credit score. Individuals prefer to get loans from NBFC due to great customer care. Corporate may prefer banking finance due to huge amount and long term. Yet Non Banking Finance Company are competing with banks to bag corporate clients too. Choose Top Finance Consultants in Chennai, Tamil Nadu, India to avail the best Bank Loan offers.

Now you have got a better picture of NBFC loan and bank finance. Choose the loan option suitable for you and overcome your financial hurdles.

Find the Best Loan Consultants for Non Banking Finance Company in Chennai, Tamil Nadu, India