Loan Against Property with the Best Loan Services: Expert Advice

Loan Against Property (LAP) with the Best Loan Services_ Expert Advice

Discover the benefits of Loan Against Property (LAP) with S&P Bank Loan Services. Our 24/7 finance consultants assist self-employed professionals, non-professionals, salaried individuals, and NRI employees. Enjoy higher loan amounts, competitive interest rates, and flexible repayment options. Apply conveniently from anywhere in the world. Trust S&P Bank for transparent processes and tailored loan solutions. Fulfill your financial goals with LAP, backed by expert guidance.

Understanding Loan Against Property (LAP) with S&P Bank Loan Services: Best Finance Consultants 24/7

Unlock the full potential of your property’s value with expert Loan Against Property (LAP) solutions provided by S&P Bank Consultants. Benefit from personalized financial guidance, flexible repayment plans, and competitive interest rates tailored to your specific needs. With our round-the-clock support and commitment to excellence, you can confidently achieve your financial goals while maximizing the benefits of LAP. Trust S&P Bank Consultants to help you secure your financial future with confidence and peace of mind.

Maximize Your Property’s Value: LAP Expertise from S&P Bank Consultants

Introduction

In today’s world, financial needs can often arise unexpectedly, whether it’s for expanding your business, funding your child’s education, or dealing with medical emergencies. During such times, securing a loan becomes crucial. One such option that individuals often explore is a Loan Against Property (LAP). In this article, we will delve into the intricacies of LAP provided by S&P Bank Loan Services, renowned for being the best finance consultants available round the clock, catering to diverse clientele, including self-employed professionals, self-employed non-professionals, salaried individuals, and NRI salaried personnel.

Eligibility Criteria

Self-Employed Professionals

  1. Doctors
  2. Lawyers
  3. Architects
  4. Consultants

Self-Employed Non-Professionals

  • Traders
  • Manufacturers
  • Entrepreneurs

Salaried Individuals

  • Homeowners
  • Employees
  • Entrepreneurs

NRI Salaried Individuals

  • Employed abroad
  • Indian nationals

Application Process

For all applicants, the application process for a LAP with S&P Bank Loan Services is straightforward and convenient. With 24/7 availability of finance consultants, applicants can initiate the loan application at their convenience, from anywhere in the world.

Benefits of LAP

  1. Higher loan amounts compared to unsecured loans
  2. Lower interest rates
  3. Flexible repayment options
  4. No need for a guarantor or extensive documentation

Selecting the Right Lender

When considering LAP, selecting the right lender is crucial. S&P Bank Loan Services stands out as a trusted partner in fulfilling your financial aspirations. With a track record of excellence in customer service, competitive interest rates, and customized loan solutions, S&P Bank ensures that borrowers receive the best-in-class financial assistance tailored to their requirements.

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Conclusion

In conclusion, a Loan Against Property (LAP) with S&P Bank Loan Services emerges as a reliable financial solution for self-employed professionals, self-employed non-professionals, salaried individuals, and NRI salaried personnel. With a focus on customer satisfaction, transparency, and efficiency, S&P Bank empowers borrowers to leverage the value of their property to fulfill their dreams and aspirations, backed by the expertise of the best finance consultants available 24/7.

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.

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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.

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.

Eligibility for Loan against Property

Contact for Bank Loans in Chennai

What is the Eligibility for Loan against Property?

Fulfill your personal and business dreams by availing loans against property. Loan against Property has no restriction on end-use, flexible tenure, and low-interest rate. In fact, Loan against Property unlocks the hidden value of your property. Being a secured loan, documentation is minimal. To put it another way, Do you need high-value finance for personal or business purposes ?. Of course, Loan against Property (LAP) is suitable. To Clarify, You can avail of the loan if you meet the eligibility criteria. Firstly, Top Bank Loan consultants will discuss the eligibility criteria for Loan against property in our firm.

What is the Eligibility for Loan against Property? | Bank Loan Consultants for Loan against Property in Chennai Tamil Nadu India

Eligibility Criteria:

  • Age of the applicant
  • Monthly Income
  • CIBIL Score
  • Existing Liabilities
  • Collateral Security
Age18 years to 60 years.
Work  or Business Experience3 years
Monthly Income or SalaryMinimum Rs. 25000/- per month
Minimum CIBIL Score650
Eligible PropertySelf-occupied/rented/vacant residential property, commercial building, and industrial property.

Age of the Applicant:

The least age eligibility for applying the LAP Fund is 18 years. In Addition, The most age eligibility to apply a LAP Finance is 60 years. In the second place, It can be higher even up to 70 years if an applicant has regular monthly income.

Monthly Income

A salaried employee must be an employee of the following.
  • Government Company
  • Public sector
  • Private sector
  • Multinational Company.
Self-employed should have a regular source of income.
 
In the like manner, Both salaried and self-employed should provide documents supporting monthly income. Again, There are no least and most income criteria.
Contact Top Bank Loan Consultants for Loan against property - LAP Finance in Chennai, Tamil Nadu, India
 
Generally, lenders prefer monthly income above Rs.25000/-. Monthly income is in consideration for fixing EMI. Even more, Lenders prefer work or business experience for 3 years.

CIBIL Score:

Like any other loan, the CIBIL score is an important parameter for LAP. In the meantime, the CIBIL score above 650 is eligible for getting a LAP Finance. Even if your CIBIL score, our S & P financial consultants can help you with ways to improve the score and get a LAP loan.

Existing Liabilities:

In summary, Lenders check for existing liabilities if any. Also, review monthly EMI to be paid for all existing liabilities. In the same fashion, Loan servicing capacity refers to EMI you are capable of paying after meeting your living expenses.

Most EMI available is surplus available after meeting essential expenses. Banks generally consider 60-70% of take-home salary for EMI. For instance, Do you have existing liabilities ?. Then, EMI for the same will be lower. Furthermore, the remaining surplus will be for the proposed LAP Finance.

Collateral Security:

What are all the eligible collateral securities?. One can offer the below-given list as collateral security
  • Residential properties
  • The Residential Plot
  • Commercial properties
  • Industrial properties
Here, Property should be free from encumbrances.
 
On the other hand, Property should have a clear and marketable title with a full property chain.
Low preferable assets
Lenders generally do not prefer a few assets. They are as follows
  • Agricultural land,
  • Vacant land,
  • Property/building located in gram panchayat,
  • Property with less than 600 sq.ft.as collateral securities.
Moreover, Lenders offer 60% to 75% of property value as loan. Moreover, It is subject to other eligibility criteria. Finally, Lenders arrive at the value of the property. They will process this with the help of independent valuers from their panels. They also check whether the property is as per the approved plan without any deviations.
How to increase the Eligible Loan Amount?

Increase your eligible loan amount with

  • Co-applicants
  • Rental Income/Other Regular Income
Co-applicant:

You can also apply for the loan along with co-applicant to increase your loan amount. Their age, monthly income, CIBIL score, and property shall be considered for eligibility. Co-applicant can be your family members. Business firms owned by applicants can also be added as co-applicants.

Rental Income:

Increase your loan amount by providing your regular rental income. Likewise, You can also add your other source of regular income like tuition fees, royalty fees, interest income if any.

Documents required for applying for Loan against Property in Chennai, Tamil Nadu, India | Best Bank Loan Consultancy for LAP

Documents required for applying for Loan against Property:

  • Bank account statement for the last 6 months.
  • Pan Card or Aadhar Card
  • Address Proof
  • Copy of the documents to be mortgaged.
  • IT returns for the last 3 years along with Form 16 for salaried employees
  • IT returns for the last 3 years along with certified financial statements for self-employed professionals.

Eligibility criteria and avail LAP loan within 48 hours

Meet the eligibility criteria and avail the Loan against Property within 48 hours. Kindly get in touch with Top Bank Loan Finance Consultants to clarify all your doubts. Meanwhile, Our team can make you aware of all features of the Loan against Property Finance. They must know the all in all financial needs. By the way, S & P Bank Loan Services offer a tailor-made LAP Finance suitable for your needs.

Contact Top Bank Loan Consultants for Loan against property – LAP Finance.

Contact the Best Loan Specialist and Consultants from S & P Bank Loan Services. Accordingly, They can provide the Quick Loan against Properties with the best possible offers as follows

  • Longer loan tenure
  • Numerous repayment options
  • Tailor-made eligibility
  • Best Interest Rate
  • 24*7 dedicated team support

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.

 

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
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ChoolaiAdyarKK NagarKovilambakkam
VepperyBesant NagarKK Nagar WestNanmangalam
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PulinanthopeT. NagarOragadamPallavaram
M.K.B NagarThiruvanmiyurAyapakkamTambaram
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T.V.K NagarPallikaranaiErnavurKandigai
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Ambattur northChromepetMoolakothiramPazhaverkadu

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