Leading Professional Banking / NBFC Loan Consultants Firm in Chennai, Tamil Nadu, India
Category: Term Loan
Avail Term Loan @ Bankloans.org.in at attractive interest rates with convenient tenure. S & P Bank Loan Services offer term credit for personal and business purposes. Any person or organization may be in need of funds for various reasons. Under such scenario term finance is a good option.
How to avail Term Loan for my Business in Chennai Tamil Nadu India ?
“Boost & Boast Your Finance with Loans”
S & P Bank Loan Services provide Loan for any type of businesses. It can be companies, partnership or proprietorship and so on. This Loans can boost your finance to meet particular needs. They can aid to boast your personal / business image.
Lending hand of finance
Bankloans.org.in takes great pride to finance term credit of individuals & businesses. We would happy to your lending hand of finance. Your growth and success are our best interests. Our customized term credit plans suits every credit needs of individuals or business.
Term Loan credit services
Our simple documentation and Loan approval process makes availing this Loan easy. Our experienced Loan Consultants are here to guide you through the process. We offer exemplary Loan credit services to all our clients.
Consultants for Term credit for buying of property/ machinery/vehicles
Avail Term credit for buying of property/ machinery/vehicles and so on. Interest rates and loan amount depend on various factors. They are loan amount, collateral & credibility. Our consultants can offer end to end support in getting a Loan. We want to make your experience of borrowing loan, a pleasant one.
What’s a Term Loan?
This Loan are financing provided for business needs where repayment period is pre-defined. Business needs can be working capital need. It can also be buying of land, vehicles or machinery. Business owners can be manufacturer or service provider or trader. Organizations can borrow for business expansion too.
Loans for education, buying of car / home/ other personal reasons
These Loans also extends to personal needs of an individual. They can be education, buying of car / home/ other personal reasons. They’re tailored-finance to suit unique financial needs. One can avail term credit least documents with flexible repayment options too. For quick disbursal of Loans contact our loan consultants.
Rate of interest for Term Loan
Banks assess the project or need for Loan before loan approval. The rate of interest for Loan depends on project risks, loan amount and credit history. They also consider the debt structure of the applicant. One can apply for rupee or foreign currency Term Loan.
What are the types of Term loan?
Based on the repayment period of loan gets classified as Short term, . Medium term, or long Term.
Short Term Loan
Here the repayment period is between 1 & 1.5 years. Some banks consider loans up to 5 years as short Term Loans. You may need funds for immediate urgent needs where you can repay within short period. Then Loan is a good option
Medium Term Loan
Banks or NBFC classify loans between 3 & 5 years loan tenure as medium Term. The loan amount is considerable big fund. Loan use can be for buying machines, injecting working capital and so on. The repayments can get done with regular cash inflow of business or person.
Long Term Loans
These loans are bank credits that have long repayment period up to 25 years. They have attractive interest rates than short and medium term. The loan tenure of regular EMI makes it easy to access huge sums. But they sometimes need collateral too.
Benefits of Term Loan borrowing
This Loan is an external funding option to meet huge finance needs. They come with host of advantages like:
Tenure flexibility
These loans are short, medium and long. Hence you have flexibility to choose appropriate Loan convenient to repayment schedule
Easy EMI
Making repayment through monthly EMI has been easy and affordable. You can choose your period of repayment convenient to you that determines the EMI amount.
Less documentation
It is easy to get Loans with less documentation. You need to submit basic document available with you to process your loan.
Eligibility criteria
To qualify for loan you need to meet basic eligibility criteria. This makes the loan processing simple and easy.
Less Loan cost
Loan cost for processing your loan is less when compared other types of loans. This makes your budgeting easier.
Disadvantages of Term loan
This Loan are one of the popular methods of borrowings for businesses. It is important to use the fund in a wise way and repay them on time. This goes a long way to avoid unnecessary financial crunches. Always keep track of EMI due dates for loans. It is wise to make good use of Loan opportunity.
Frequent questions about Term loans
What is Term Loan ?
This Loan is a loan that that needs repayment within scheduled or agreed period.
Is Term Loan only for businesses?
It is in general is a financing for business reasons. But one can avail Loans for individual needs like buying of home, car and so on.
What is the least period of tenure Term Loan ?
In common the least period of repayment is 12 months. It may vary from bank to bank
What is the upper limit repayment tenure?
The ceiling limit of repayment may be up to 25 years. This may vary for bank to bank and scheme to scheme
How banks determine your Loan repayment tenure?
To determine your loan tenure, banks consider debt service coverage ratio. They also take in to account your ability to repay and cash flow
How bankers fix rate of interest for Term Loan ?
Your loan amount, tenure, project and debt structure play a great role in interest rate.
Is collateral must for Term Loan ?
Short Term Loan may not need collateral. But medium and long term need collateral. It depends on the banks’ discretion too. Collateral improves possibility of low interest rate. Your loan approval is easy.
Is credit score one of the factors for loan approval?
Traditional lenders consider CIBIL score when assessing an loan application. Some banks conduct credit analysis of their borrowers
How to calculate EMI for Term Loan ?
You need details like loan amount, tenure and interest rate to calculate EMI of Loan. You could use online Loan EMI calculator. Our loan consultants can also help you to work out your Term Loan EMI.
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:
Wealth Management: Our expert advisors provide personalized wealth management solutions to help grow and protect your assets.
Financial Planning: We offer strategic financial planning services designed to help you achieve your short-term and long-term financial objectives.
Retirement Planning: Our advisors assist you in creating retirement plans that ensure a secure and comfortable retirement.
Investment Advisory: We offer expert investment advice to help you make informed investment decisions and maximize returns.
Tax Planning: Our team helps you develop tax-efficient strategies to minimize tax liabilities and optimize your financial position.
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.
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.
In today’s dynamic economic landscape, finance solutions play a pivotal role in empowering individuals, businesses, and communities to achieve their financial goals. One such prominent player in the financial domain is S & P Bank Loan Services, offering a comprehensive range of financial products and services to clients in Chennai and beyond. This article delves into the significance of finance solutions and how S & P Bank Loan Services has emerged as a trusted name in the industry.
Understanding Finance Solutions
Finance solutions encompass a diverse array of financial products and services that cater to the unique needs of individuals and organizations. From personal finance to specialized loans, these solutions form the backbone of economic growth and stability.
With tailored financial services, individuals can access funding for personal milestones such as education and healthcare. For businesses, these solutions enable expansion, innovation, and working capital management, fostering entrepreneurial growth.
By channeling financial resources and expertise, finance solutions contribute to a thriving economy, stimulating investments, and enhancing overall economic development.
S & P Bank Loan Services: A Trusted Name in Finance
At the heart of the financial ecosystem in Chennai lies S & P Bank Loan Services, a leading provider of comprehensive financial solutions. With a commitment to customer satisfaction and a diverse product portfolio, the bank has earned the trust of individuals and businesses alike.
Recognizing the distinct financial needs of different demographics, S & P Bank Loan Services offers a range of finance solutions, each tailored to meet specific requirements. Their team of experienced financial advisors understands clients’ objectives and provides expert guidance to help them make informed financial decisions. With a strong focus on maintaining ethical practices and responsible lending, S & P Bank Loan Services strives to contribute positively to society’s economic progress.
Personal Finance Solutions
Personal Loans: Quick and Convenient Funds
Need funds for a personal project or an emergency? S & P Bank Loan Services offers personal loans with hassle-free approval and quick disbursement, ensuring timely financial support. Moreover, borrowers can avail competitive interest rates on personal loans.
Savings and Deposits: Building Financial Security
Secure your future with a variety of savings and deposit accounts at S & P Bank Loan Services. These accounts offer attractive interest rates, ensuring steady growth for your hard-earned money. Additionally, the bank provides customized deposit solutions based on individual preferences.
Wealth Management: Navigating Investment Options
Investing wisely is key to building wealth and achieving financial objectives. S & P Bank Loan Services offers comprehensive wealth management solutions with expert advice on investment options, risk diversification, and portfolio optimization.Clients benefit from personalized strategies that align with their financial goals.
Business Finance Solutions
Business Loans: Fueling Entrepreneurial Growth
Power your business expansion with flexible and competitive business loans from S & P Bank Loan Services. Access funds for working capital, equipment purchase, or new ventures. Furthermore, businesses can enjoy easy application processes and quick approvals.
Commercial Real Estate Financing: Expanding Business Operations
Invest in commercial real estate with S & P Bank Loan Services’ real estate financing solutions. Whether you’re purchasing, refinancing, or developing properties, their experts provide the financial assistance you need. Additionally, businesses can unlock value from their property assets.
Working Capital Solutions: Managing Cash Flow
Overcome financial hurdles with working capital solutions from S & P Bank Loan Services. Maintain smooth operations and meet short-term financial needs without compromising on growth. Additionally, businesses can avail of revolving credit lines and overdraft facilities for increased financial flexibility.
Home Finance Solutions
Home Loans: Turning Dreams into Reality
Fulfill your dream of owning a home with S & P Bank Loan Services’ home loans. Enjoy competitive interest rates, flexible repayment options, and expert guidance throughout the home buying process. Moreover, borrowers can avail of customized loan amounts and tenures based on their eligibility.
Mortgage Solutions: Hassle-Free Home Buying Process
Simplify the process of purchasing property with S & P Bank Loan Services’ mortgage solutions. Get professional support in securing the best mortgage deal that aligns with your financial situation and preferences. Additionally, the bank offers competitive interest rates and transparent fee structures.
Home Loan Refinancing: Optimizing Financials
Reduce your monthly mortgage burden with home loan refinancing from S & P Bank Loan Services. By refinancing, you can avail better interest rates and repayment terms, leading to potential savings in the long run. Furthermore, the bank assists with seamless paperwork and processing for refinancing.
Automotive Finance Solutions
Car Loans: Driving Home Your Dream Car
Own your dream car with S & P Bank Loan Services’ car loans. Enjoy attractive interest rates, quick approvals, and flexible repayment options, making your car purchase a smooth and delightful experience. Additionally, the bank offers a wide range of car loan schemes to suit your budget.
Vehicle Financing Options: Flexible Plans for Car Buyers
S & P Bank Loan Services caters to diverse car financing needs with a variety of vehicle financing options. From new cars to used vehicles, they offer tailored plans to match your preferences and financial capabilities. Furthermore, borrowers can select from fixed or floating interest rate options.
Auto Loan Refinancing: Lowering the Burden
Existing car loan borrowers can reduce their monthly payments through auto loan refinancing at S & P Bank Loan Services. Refinance at better rates and terms, reducing the financial burden of car ownership. Moreover, the bank provides transparent fee structures and easy application procedures.
Specialized Finance Solutions
Education Loans: Investing in Knowledge and Skills
Pursue higher education with S & P Bank Loan Services’ education loans. Finance your academic journey with ease, covering tuition fees, living expenses, and other related costs. Additionally, borrowers can avail of flexible repayment options and moratorium periods.
Medical Loans: Navigating Healthcare Expenses
Overcome medical expenses with medical loans from S & P Bank Loan Services. Ensure the best healthcare for yourself and your family without worrying about immediate payments. Moreover, the bank offers quick approval and disbursal for medical emergencies.
Travel Finance: Fulfilling Wanderlust Desires
Embark on your dream vacation with S & P Bank Loan Services’ travel finance solutions. Experience the world’s wonders without compromising on your travel plans due to financial constraints. Additionally, the bank provides travel loans with competitive interest rates.
Digital Finance Solutions
Online Banking: Convenient and Secure Transactions
Manage your finances effortlessly with S & P Bank Loan Services’ online banking services. Enjoy the convenience of conducting transactions from the comfort of your home or office.Additionally, the bank ensures the highest level of security for online transactions.
Mobile Payment Solutions: Embracing Cashless Transactions
Embrace the future of payments with S & P Bank Loan Services’ mobile payment solutions. Make cashless transactions using your mobile device, providing you with greater flexibility and ease. Furthermore, the bank supports various mobile payment apps for enhanced convenience.
Fintech Innovations: Bridging the Gap for Financial Inclusion
Stay ahead with the latest fintech innovations offered by S & P Bank Loan Services. These technologies bridge the gap in financial services and promote financial inclusion for all. Moreover, the bank collaborates with fintech startups to offer cutting-edge solutions.
Financial Planning and Advisory Services
Financial Consultation: Expert Guidance for Your Goals
Seek expert advice on financial matters with S & P Bank Loan Services’ financial consultation. Their experienced advisors assess your financial situation, recommend suitable strategies, and help you achieve your financial goals. Additionally, clients receive personalized financial plans tailored to their needs.
Retirement Planning: Ensuring a Comfortable Future
Secure your retirement with S & P Bank Loan Services’ retirement planning services. Plan early for financial independence and enjoy a comfortable post-retirement life. Moreover, the bank offers retirement products that provide steady income during retirement.
Investment Advisory: Maximizing Returns with Prudence
Make informed investment decisions with S & P Bank Loan Services’ investment advisory. Their financial experts analyze market trends, risks, and opportunities to optimize your investment portfolio. Furthermore, clients receive regular updates and recommendations for portfolio adjustments.
Customized Finance Solutions for Different Demographics
Youth and Students: Empowering the Next Generation
Empower the next generation with S & P Bank Loan Services’ finance solutions for youth and students. These specialized offerings help young individuals pursue higher education and build a strong financial foundation from an early age. Additionally, the bank offers scholarships and financial literacy programs for students.
Families and Individuals: Tailoring Financial Plans to Needs
Strengthen the financial well-being of your family with S & P Bank Loan Services’ customized finance solutions. These services cater to the unique needs of families and individuals, providing financial security and growth opportunities. Moreover, the bank offers family insurance plans for comprehensive financial protection.
Businesses and Corporations: Strengthening Financial Strategies
Drive the growth of your business with S & P Bank Loan Services’ finance solutions for businesses and corporations. These solutions enhance financial strategies, optimize cash flow, and provide necessary funds for expansion. Additionally, the bank offers specialized business loans for diverse industry sectors.
S & P Bank Loan Services: The Application Process
Simple and Streamlined Application Procedures
Avail of finance solutions effortlessly with S & P Bank Loan Services’ simple and streamlined application procedures. Their user-friendly processes ensure quick access to financial assistance with minimal paperwork. Furthermore, applicants can conveniently apply online or visit the nearest branch.
Eligibility Criteria and Documentation Requirements
Understand the eligibility criteria and documentation needed for S & P Bank Loan Services’ finance solutions. Knowing the requirements beforehand helps applicants prepare and expedite the loan process. Moreover, the bank provides clear guidelines to ensure a smooth application process.
Quick Approval and Disbursement Process
Experience prompt approval and disbursement of funds with S & P Bank Loan Services. Their efficient loan approval process ensures that applicants receive the required funds at the earliest, helping them address their financial needs without delay. Additionally, borrowers can expect hassle-free processing and disbursal of loans.
Customer Testimonials: Success Stories with S & P Bank Loan Services
Real-Life Experiences of Satisfied Customers
Hear from satisfied customers about their experiences with S & P Bank Loan Services. These real-life testimonials shed light on how the bank’s finance solutions have made a positive impact on individuals and businesses. Additionally, customer testimonials offer valuable insights into the bank’s services.
Positive Feedback on Services and Support
Learn about the exceptional services and support provided by S & P Bank Loan Services through positive customer feedback. The bank’s commitment to customer satisfaction reflects in the testimonials shared by clients. Moreover, the bank values customer feedback to continually improve its offerings.
Trustworthy Testimonials from Diverse Clients
S & P Bank Loan Services caters to a diverse clientele, and their testimonials offer a glimpse into the bank’s expertise and dedication in serving varied financial needs. Trustworthy testimonials build trust among potential customers and reinforce the bank’s reputation. Furthermore, these testimonials provide authentic perspectives on the bank’s services.
Embracing Digital Transformation in Finance Solutions
The Advantages of Technology in Finance Services
Explore the benefits of digital transformation in finance services offered by S & P Bank Loan Services. Technological innovations have revolutionized financial operations, enabling faster and more efficient services for customers. Additionally, digital platforms facilitate seamless communication and transactions.
Enhanced Customer Experience through Digital Channels
Experience the convenience of banking and accessing finance solutions through digital channels with S & P Bank Loan Services. The bank’s commitment to providing an enhanced customer experience is evident in its user-friendly digital platforms. Moreover, customers can access their accounts and financial information on the go.
Security Measures for Safe Financial Transactions
S & P Bank Loan Services prioritizes customer security in all digital transactions. Strong security measures safeguard customer data, preventing fraud and ensuring safe financial transactions. Furthermore, the bank’s digital platforms adhere to industry-leading security standards.
S & P Bank Loan Services: A Responsible Lender
Complying with Regulatory Guidelines
S & P Bank Loan Services complies with all relevant regulatory guidelines and ensures adherence to financial norms and ethics. The bank’s commitment to responsible lending fosters transparency and trust among customers.Additionally, the bank maintains strict compliance with financial regulations.
Ethical Practices and Responsible Borrowing
As a responsible lender, S & P Bank Loan Services promotes ethical practices and encourages responsible borrowing. The bank educates customers on prudent financial management and the implications of borrowing. Moreover, the bank believes in building long-term financial relationships with customers.
Contributing to Social and Economic Development
Beyond offering finance solutions, S & P Bank Loan Services actively participates in social and economic development initiatives. The bank’s commitment to corporate social responsibility reflects its dedication to making a positive impact on society.Furthermore, the bank’s initiatives contribute to the betterment of local communities.
In conclusion, finance solutions in Chennai play a vital role in empowering individuals and businesses to achieve their financial goals. S & P Bank Loan Services stands out as a trusted financial partner that offers a diverse range of finance solutions tailored to suit the unique needs of its clients.
With a focus on customer satisfaction, ethical practices, and digital innovations, S & P Bank Loan Services ensures a seamless and secure banking experience for its customers.
Embrace financial freedom and unlock your potential with S & P Bank Loan Services. Whether you need personal, business, or specialized finance solutions, the bank is committed to helping you achieve financial success and realize your dreams.
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.
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.
Who is the Best Bank Loan Consultants to get Loans at Low Bank Interest Rate?. S & P Bank Loan Services offer All in All financial facilities at Low Rate of Interest in Chennai, Tamil Nadu, India.
How to calculate Bank Interest Rate?
Interest Rate is the percentage that a bank or financial institution charges for amount lend or pays for the amount deposited. Likewise, Bank charges a higher rate of interest on loans comparatively it pays for depositors to earn a profit. In fact, All banks compete with each other by offering a competitive interest for borrowers and depositors. Due to competition, banks charge interest within a narrow range of each other by all means.
Will the rate of interest differ from other Banks?
Like any other industry, some businesses prefer high volume and low profits firstly. Other businesses prefer low volume but high profits. In a similar manner, some banks prefer customers who do not care more about the rate of interest. Thus, they have few customers but a higher profit margin. While a few other banks prefer a larger customer base, so they offset profit margin and offer a lower rate of interest on deposits.
High interest on deposits
Well established large scale banks raise funds through issuing bonds/shares, thus they may not interested to raise funds from deposits. Moreover, Those banks offer a high interest on deposits. While smaller banks depend on depositors for funds, thus they charge low Interest for depositors. In other words, The bank charges interest based on its objectives in the banking business.
EMI Calculator:
The interest on loans always plays a major role in the EMI of the loan.
Equated Monthly Instalment abbreviated as EMI, refers to monthly installments paid towards the loan. It includes both principal and interest. Nowadays EMI calculator, a very famous one among borrowers. Let’s look into the benefits of the EMI calculator.
You can decide your EMI amount before applying for a loan. This helps to make the exact monthly finance budget.
EMI Calculator provides a complete repayment schedule. This helps you to plan the financial budget for the full tenure of the loan.
The EMI calculator is calculated online. It’s error-free and accurate.
You have the option to change the loan tenure, amount, and interest to check your eligibility for higher loans and lower EMI.
During the takeover of the loan, you can do a comparative analysis of EMI with the proposed bank and existing bank.
How can we reduce the interest rate burden by closing high-interest?
Review your loan sanction and check whether the loan is under a fixed-rate or floating rate. In flat-rate loans, the loan is fixed throughout the tenure. Thus, monthly EMI is fixed for entire loan tenure.
Loans with floating-rate of interest
In floating rate loans, interest percent changes when there is a change in banks’ base rate. The bank base rate is fixed based on RBI guidelines. You have to decide when you have to opt for fixed-rate or floating rate loans. When the floating rates interest shoots up, it results in higher EMI in the same fashion. But if floating interest comes down, it results in lower EMI.
Loans with a fixed interest Percentage
On the other hand, a fixed interest percentage protects from rate fluctuation and gives you a sense of security and certainty of cash flow. In the same token, making a choice between fixed and floating rates depends on economic factors and outlook. We at S & P finance consultants help you to decide on fixed or floating rates based on market situation and loan type.
Few tips for low-interest rate:
Good CIBIL score
The low credit utilization ratio
Low Fixed Obligation Ratio
Don’t apply for loans with multiple lenders.
Relationship with the existing lender
The loan availed with collateral security
Women applicants get a concession on
Loan Duration vs Percentage of Interest
Generally, there is a direct relationship between long duration and Percentage of interest. Higher the long duration, the higher the Rate of Interest. Lower the loan duration, lower the rate of interest. Meanwhile, It may not true for all types of loans. But banks also consider lending risk while charging a percentage of interest for loans. Lending risk includes security, experience in work/business, and other factors. Going for a longer tenure of the loan may give you lower EMI at the cost of higher interest. You need to take a decision
Fixed Deposit Rates:
Saving the money in fixed deposits is one of the best investments from olden days. Let’s look at the fixed deposit rates of few banks below:
Comparison of Fixed deposit rates of Major Banks:
Name of the Bank
FD Interest Rates
Senior Citizen FD interest rates
SBI
2.90% -5.40%
3.40% -6.20%
HDFC
3.00% -5.75%
3.50% -6.50%
ICICI
3.25% -5.75%
3.75%-6.25%
RBL
5.00% -7.50%
5.50%-8.00%
South Indian Bank
4.00%-6.30%
4.50%-6.80%
Karur Vysya Bank
4.15%-6.05%
4.15%-6.55%
Indian Bank
3.75%-5.75%
4.25%-6.25%
Contact Top Bank Loan Consultants for the Best Interest rate
Call or WhatsApp the below-given number to Contact Top Bank Loan Consultants to avail all Loans with the Best Interest Rate.
Business need finance for starting up, expansion and modernization of business. Let’s see why any business need finance. For a new business, you need to buy assets and fresh inventory. Initial cost is also there for setting up business. For existing business for expansion like opening up branch and adding new line of business. Term Loan is one of the best Source of funds for you business. What are all the Benefits of Term Loan ?
Finance through capital infusion or to borrow money from lenders
Business also need finance for loss making business for bringing back to normal situation. Now how to access finance? You can access finance internally or externally. Internal finance is to use retained earnings. New business may have less or no retained earnings. Next option is external finance. You raise finance through capital infusion or to borrow money from lenders.
Boost cash flow
Taking loan from lenders always have more advantage than raising capital. Term Loan allow you to spread out the cost throughout loan tenure. This loan allow you to boost cash flow, hiring up new team, buy bulk inventory, buy fixed assets and merge debts. Lets’ discuss the benefits of Term loan.
Improves Operational Cash flow
Capital is a scare resource and investing capital in single project of a business. It limits the capital availability to other business projects. Term loan is accessible and conveniently availed. You get a Term Loan and diversify the investment in various projects. Cash inflows from all projects may not be at same time. Thus, cash inflows from various projects help you to improve operational cash flow at all times.
Interest
Interest on Term Loan is tax-deductible. Whereas dividend for equity and preference shares are paid out of profit after tax. Term Loan is cheapest source of finance compared to other source of finance. You can fix the interest on this loan with negotiation with bank. Good credit score, strong financials(existing business) or viable business plan (new business) helps you to get Loans at low interest rate.
Speed of processing
Time is money. All business need money quickly. With the online loan application and loan processing, you get the money disbursed fast. We at S & P Bank Loan Services & Loan consultants help you to get the loan within short span of time. You get the money early, you will also have a peace of mind towards finance arrangement.
Preserves ownership
Term Loan comes under debt-financing. It does not involve selling part of equity for procuring funds. You can hold 100% ownership and you can run the business as you wish.
Lender does not have right to vote. Lenders does not entitle to ownership like equity and preference shareholders. Lenders only demand principal amount with interest.
Minimize Investor Interference:
Seeking investor investment is one of the common ways to raise money. This is a way for control dilution and dividing ownership of the business. With term loans, you can access huge finance. You can also retain ownership and control of the business.
Improve Credit:
Term loan is a loan which allows you to pay the loan amount in periodic installments. You pay the installments due in time and it improves your credit score. Having a good credit score always helps you at all time to take any type of loans from creditors. Thus, this loans are effective way to build creditworthiness of business.
Flexible Terms:
There is no maximum amount for term loan generally. You can start borrowing from Rs. 10,000 to any higher loan amount. This allows small and big business man to apply for term loans based on their need. In the same manner, you can also fix the loan tenures as you need. Based on business need, lenders provide holiday period/bullet repayments.
EMI / Monthly installment at the sanction of the loan
Lenders fix the EMI / Monthly installment at the sanction of the loan. Lenders also fix all cost related to term loan at sanction stage only. This loan does not allow you to spend any unpredictable cost in future. Meanwhile, You can fix term loan cost on monthly budgets at beginning of the year.
Contact the Best Term Loan Consultants
Best loan consultants in S & P Bank Loan Services provide you full support from start to end of Term loan process. In Fact, We provide dedicated staff to follow up with you through process and after loan support. Of course, We support you with best loan products which suits your business need. Feel free to contact us for all types of loan needs.
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.
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
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.
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 – 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.
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
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.
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
Veritas Finance Private Limited is a Non-Banking Finance Company (NBFC) headquartered in Chennai. In fact, Their mission is to lend finance to Micro, Small and Medium enterprises and other borrowers.
Finance to Micro, Small and Medium Enterprises and other borrowers.
The Chennai-based NBFC shores-up a whooping amount of ₹350 Crore capital from varied E-Investment Series. Moreover, The company’s main business focus is to provide finance to Micro, Small and Medium Enterprises and other borrowers. Of course, The additional influx of investments has been funded by Kedaara Capital, a new investor. Avove all, The existing players Lok Capital Growth Fund, Norwest Venture Partners (NVP) and P. Surendra Pai & family have also funded investment in Veritas Finance. Meanwhile, Their big-brain financial advisor is none other than Spark Capital.
Funding of working capital, buying assets and business expansion
The company indeed is keen to utilize this top-up capital to finance business sectors and conquer existing markets. By the way, MSMEs can approach VERITAS FINANCE for funding of working capital, buying assets and business expansion.
Best customer service, transformative technology and robust credit appraisals.
Borrowing Loan from this finance company is a pleasant experience due to best customer service, transformative technology and robust credit appraisals.
Mr.Arulmany, the MD and CEO of Veritas Finance
Veritas Finance started in 2015 by Mr D. Arulmany, has 48000+ customers with a lending record of ₹1,308 Crore. Mr.Arulmany, the MD and CEO of the company was quoting that they had set a milestone of ₹1,000 Crore as finance target for the first four years of phase-1.
Crossing the milestone with great success, at present the company is set upon embarking the next thrilling journey of phase-2.
MSMEs employment opportunities in Veritas Finance
Mr Shiv Chaudhary, MD of Norwest Venture Partners, India, a Co-investor of Veritas believes that MSMEs are the engines that boost the economic growth of our country. MSMEs generate numerous employment opportunities at the base level. By all means, They have a great pleasure to top-up investment with ₹200 Crore expecting great returns.
MSMEs have a great impact on our Indian economy, contributing to 45% exports & 69% employment opportunities. Most of all, Veritas finance takes great pride to serve MSMEs and borrowers thereby contributing to our society.
What is Rate of Interest in Various Banks in India ?.
Banks offer loans that need settlement with principle + interest for an agreed period. In fact, The first factor any borrower will be curious to know is about the rate of interest on loan offered by various banks. Of course, Rate of interest is one of the important catalysts that finalize a loan deal.
Meanwhile, A lower rate of interest is always an attraction and beneficial to the borrower. However, it is important to consider other factors before you finalize your lender. Moreover, You need to consider factors like income and repayment capacity, processing fee, quick loan processing and loan process comfort.
Compare loan offers based on interest rates
It is smart to compare loan offers based on interest rates and other factors to decide on the best loan deal. At any rate, To lend you a helping hand we have listed out interest rate and loan eligibility. Most of all, We also detail you about processing fee and time-frame of various kinds of loans amongst various banks.
BUSINESS LOAN
Getting a business loans has now become simple and easy. By the way, You could follow the traditional way of direct visit to the bank. Likewise, You can also approach us to get your business loans approved in a simple and easy. Generally, Our loan consultants will help guide your various business loan offers in market. Eventually, They will help you decide on the right loan deal.
Market scenario of business loans from various banks
Let us see the Market scenario of Business Loans from Various Banks.
HDFC BANK business loans
Rate of Interest on business loans is 15% – 19%. Processing fee is 2.49% on loan amount. In like manner, The loan tenure is 12-36 months. In the same fashion, Timeline for loan disbursal is 4-Working Days
ICICI BANK business loans
Rate of Interest on business loans is 16%-22% by all means. Processing fees is 2.00% on loan amount. Similarly, The loan tenure is 12-36 months. Timeline for loan disbursal is 5-Working Days
TATA Capital business loans
Rate of Interest on business loans 18%-24%. Processing fees is 2.50% on loan amount. The loan period is 12-36 months. Timeline for loan approval is 5-Working Days
BAJAJ FINSERV business loans
Rate of Interest on business loans is 19%-23%. Processing fees is Up to 3.00% on loan amount. The loan period is 12-60 months. Timeline for loan approval is 2-Working Days
YES BANK business loans
Rate of Interest on business loans is 15.5%-21%.Processing fees is 2.00% on loan amount. The loan period is 12-60 months. Timeline for loan approval is 5-Working Days
RBL BANK business loans
Rate of Interest on business loans is 19%-26%. Processing fees is 2.50% on loan amount. The loan term is 12-36 months. Timeline for loan approval is 5-Working Days
Fullerton India business loans
Rate of Interest on business loans is 22%- 29%. Processing fees is 3.00% on loan amount. The loan term is 12-36 months. Timeline for loan approval is 7-Working Days
Capital First business loans
Rate of Interest on business loans is 18%-25%. Processing fees is 3.00% on loan amount. The loan term is 12-48 months. Timeline for loan approval is 4 to 5-Working Days
Aditya Birla business loans
Rate of Interest on business loans is 20%-26%.Processing fees is 2.00% on loan amount. The loan tenure is 12-36 months. Timeline for loan disbursal 3-Working Days
Kotak Bank business loans
Rate of Interest on business loans is 18%-23%. Processing fees is 2.50% on loan amount. The loan tenure is 12-36 months. Loan disbursal time frame is 7-Working Days
Eligibility for Business loan
Any person who is operating a legitimate business can apply for business loan. Business organization like sole proprietors, partnership firms, MSME and companies can also borrow business loans. It is important to enumerate the business potential in your business plan. This will have positive effect of business loan approval. Banks are the final authority to decide on business loans. In general banks consider the following factors like business type, turnover and profit. They also assess cash flow and track record of business.
How to compare and decide on best business loan?
It is important you need to consider 3 factors like EMI, processing fee and prepayment charges. If you are planning to stick to the loan schedule then consider EMI & processing fee only. In case you are planning to repay early consider prepayment charges too.
Interest chart of business loan
Observe the above rate of interest chart of business loan. The best business loan interest rate is 13.5%. Processing fee is up to 3% of loan amount. Loan tenure is up to 5 years. Loan disbursal time is minimum 2 days.
Rate of interest on business loan
Rate of interest on business loan depends on annual business turnover, business years, loan amount and repayment capacity. In other words, High business loan amount will have low interest rates.
Compare and land good business loan deals with us. Business loans can be secured loan and unsecured loan. Yes. You heard it right. You can also apply business loan with no collateral. To know more contract our loan advisors.
PERSONAL LOAN
Any person who is a salaried employee or self employed can apply for personal loans. The borrower can use personal loan for any private or general purposes. When you have urgent need of funds, personal loan is a good idea. Personal loans are unsecured loans that require no collateral. Hence personal loans get processed and disbursed quickly. Borrowing Personal loan is wise when you are in a financial crisis or have no collateral. In case you do not have time for long documentation and loan process, personal loan is good. Go for personal loan if you need short term loan less than 5 years
Market scenario of personal loans from various banks
Standard Chartered Bank- Rate of interest for personal loan is 10.99% – 18%. Processing fees is ZERO. Foreclosure charges are Up to 5%. Timeline for loan disbursal is 3-4 Working Days.
ICICI Bank- Rate of interest for personal loan is 11% – 17.50%. Processing fee is 0.50% – 2.25%. Foreclosure charges is Zero > 10 lakh+ 12 EMI Paid, else 5.00%. Timeline is 2 working days.
HDFC Bank- Rate of interest for personal loan is 75% – 13.45%. Processing fee is up to 3999 + GST. Foreclosure charges is Zero >10 lakh, else 4.00%. Timeline for loan disbursal is 48 working hours
SBI Bank- Rate of interest for personal loan is 11.95% – 16.55%. Processing fee is 00% – 3.00%. Foreclosure charges are NIL. Timeline for loan disbursal is 72 working hours.
Bajaj Finserv- Rate of interest for personal loan is 11.99% – 16.00%.Processing fee is Up to 2.00%. Foreclosure charges are Up to 4% >1st EMI. Timeline for loan disbursal is 48 working hours
Kotak Bank- Rate of interest for personal loan is 29% – 20.15%. Processing fee is Rs.999 – 2%. Foreclosure charges are Zero > 10 lakhs , Else 5.00%. Timeline for loan disbursal is 60 working hours
Fullerton India- Rate of interest for personal loan is 11.99% – 26.00%. Processing fee is 2.00%. Foreclosure charges are Up to 7.00%, 0% above 3 years. Timeline for loan disbursal is 48 working hours.
Axis Bank- Rate of interest for personal loan is 15.00% – 20.00%. Processing fee is 2.00%. Foreclosure charges are N.A. Timeline for loan disbursal is 60 working hours.
TATA Capital- Rate of interest for personal loan is 12.50% – 19.50%. Processing fee is 1.25% – 2.50%. Foreclosure charges are Timeline for loan disbursal is 72 working hours
Eligibility for Personal loan
Applicant age must be above 21 years. His Minimum income depends on varied banks. He should have a Regular income with valid documents like salary slips/transfers. Good CIBIL score is attractive. 6 month stability with current employer or 2 years IT returns for self employed is desirable for loan approval.
How to compare and decide on best personal loan?
Doing a little home work, before deciding a loan proposal is a good idea. Compare and analyze the following important factors.
Rate of interest on personal loan
First- Rate of interest on personal loan varies from bank to bank. It is based on your employer too. Banks float regular schemes with low interest rates. Hence check offers of various banks before you decide. Next -Processing fees is an important factor that increase your loan cost. It is wise to go for all inclusive interest rate. Our loan advisors can guide you on your personal loan queries. Further- You need to consider insurance premium on personal loan. It is an additional loan cost too.
Insurance premium
The insurance premium varies too. So choose an insurance policy with adequate coverage with low premium. Then- Prepayment and foreclosure charges are important too. When you plan to settle loan early before tenure these charges are extra. Hence consider the same before you decide on personal loan offer.
Basic factors of the bankers for personal loan approval
Loan amount- tenure- EMI-work experience-age- employer & interest rate are some of the basic factors the bankers consider for personal loan approval.
In the current market the best rate of interest for personal Loan is 10.5%. Processing fees can be up to 2% of loan amount. Loan tenure is up to 5 years. Prepayment charges are up to 5%. To know more details get in touch with our personal loan advisors.
HOUSING LOAN
Home loans are also called as housing loans. Banks offer loans for purchase of land, house and buildings. You can buy new house or construct / extend your house with home loans. Home loans are secured loans. The collateral is the property you buy. In case you are unable to repay the banks have property to recover due from you.
Deciding on a home loan offer is an important personal decision. The amount of home loan is huge. The tenure of home loan is long term. Hence you need to assess your financial position, bank offers and interest rates before deciding on home loan.
Market scenario of Home Loans from various banks
SBI Home Loan
Rate of interest on home loan is 7.90%. The type of benchmark is RLLR. Processing fee is 0.20% -Rs. 4,000 to 30,000
HDFC Home Loan
Rate of interest on home loan is 8.00%. The type of benchmark is PLR.Processing fee is 0.50% / Rs. 3,000 to Rs.10,000
Citibank Home Loan
Rate of interest on home loan is 8.20%. The type of benchmark is TBLR. Processing fee is NIL
Bank of Baroda Housing Loan
Rate of interest on home loan is 8.00%. The type of benchmark is RLLR. Processing fee is Min Rs. 10,030
ICICI Bank Housing Loan
Rate of interest on home loan is 8.25%. The type of benchmark is RLLR. Processing fee is 1.00%
Axis Bank Housing Loan
Rate of interest on home loan is 8.25%. The type of benchmark is RLLR. Processing fee is 0.20% / Rs. 5,000 to Rs. 25,000
PNB Housing Finance
Rate of interest on home loan is 8.95%. The type of benchmark is PLR. Processing fee is 0.50%, Minimum of Rs. 10,000
LIC Housing Finance
Rate of interest on home loan is 8.10%. The type of benchmark is PLR. Processing fee is 0.25%
India bulls Housing Loan
Rate of interest on home loan is 9.25%. The type of benchmark is PLR. Processing fee is Min Rs. 7,500, Max Rs. 10,000
Eligibility of Home Loan
Banks consider factors like income of applicant, credit history and property value. Based on this the banks decide the loan approval amount.
The basic eligibility is applicant age should between 21-65 years. Minimum income should be 1.8 lakhs per annum. Job stability / business stability least 3 years. A good credit score and credit history is an advantage.
How to compare and decide on best home loan?
It is smart compare and analyze different loan offers from varied banks. There are multiple parameters you need to consider like interest rates, processing fees and foreclosure charges. Customer service, loan process and documentation are few other factors.
Taking a home loan is not a “walk-in to the bank and walk out with home loan thing.” You need to do lot of ground work before deciding on the loan offer
Eligibility and Housing loan EMI
The first step is to check your eligibility and Home loan EMI. Check out with your bank the amount of loan you are eligible for. Based on the amount calculate your Equated Monthly repayments. You need to consider your income, existing financial obligations and other loans too. EMI amount is subject to factors like interest rate, loan amount and tenure.
Banks consider net income, existing obligations, property type and other factors for loan eligibility/approval. The Home loan amount is dependent on these factors.
Verify legal documents and approval of property
The next is to verify legal documents and approval of property. For new property get bank approval of the builder project. In case of resale property track the complete property history right from first owner to current owner. Choose the bank loan favorable to you.
Comparing home loan based on interest
Further you need to compare interest rate. Comparing home loan based on interest is a challenging task. You need consider other factors too before you decide. Decide you want to go for fixed or floating rate of interest. Floating interest rates gets reset based on MCLR, benchmark types and PLR. Majority of home loans have floating interest rates. Check and compare home loan rates of all banks.
Quick loan processing and customer reviews
Then is the big decision of short listing the bank loan. It is necessary to take the final step based on parameters like transparency, customer care and turnaround time of bank. They also make your home loan journey smooth. Quick loan processing and customer reviews can also be useful.
At present the best home loan interest rate is 7.9%. You can get 90% of property worth as loan. Processing fees is 0.5% / Rs.10000. Loan tenure up to 30 years. No Pre-closure charges for floating rates
TRAVEL LOAN
Before you plan your travel, it is important to assess your finances. Traveling expenses include transport fare, lodging and boarding. It also includes site tours and local transport. In case of foreign tours and travels you need to incur insurance and visa charges too.
Travel loan is an unsecured loan. It does not need any collateral. It gets processed within few days.
Purpose of travel requirements of the borrower
Travel loan is a loan for the purpose of travel requirements of the borrower. Many banks offer travel loans for the vacation in India or abroad. Travel loan cover airfare, accommodation and boarding expenses. They even include insurance and other important expenses. Before deciding on travel loan compare the interest rate and other factors of travel loan.
Market scenario of Travel Loans from various banks
SBI Personal Loan- Rate of interest on travel loan is 10.55%. Processing fee is 1%
HDFC Bank Personal Loan- Rate of interest on travel loan is 10.75%. Processing fee is 2.50% / Rs. 1,999
ICICI Bank Personal Loan- Rate of interest on travel loan is 11.25%. Processing fee is 0.99% – 2.25%
Bajaj Finserv- Rate of interest on travel loan is 11.99%. Processing fee is 1.50% – 3%
Citibank- Rate of interest on travel loan is 10.50%. Processing fee is Up to 0.5%
IDFC First Bank- Rate of interest on travel loan is 10.75%. Processing fee is Up to 1.5%
Axis Bank- Rate of interest on travel loan is 10.99%. Processing fee is up to 1.75%
Tata Capital- Rate of interest on travel loan is 10.99%. Processing fee is Rs. 1499 / Up to 2.50%
Fullerton India- Rate of interest on travel loan is 99%. Processing fee is 2%
IndusInd Bank- Rate of interest on travel loan is 00%. Processing fee is 0.75% to 1.75%
Kotak Bank- Rate of interest on travel loan is 10.75%. Processing fee is Up to 2.5%
Is travel loan a good idea?
One can avail travel loan in case you are keen to enjoy life with family and friends. You may not want to postpone your trip anymore. Travel loan is good when you can fund the travel expenses in one shot. You do not want to touch your savings/deposit that are long term. Get a travel loan when you are confident the repayment is not a task.
Eligibility for Travel loan
Applicant age must be above 21 years. His Minimum income depends on varied banks. He should have a Regular income with valid documents like salary slips/transfers. Good CIBIL score is attractive. 6 month stability with current employer or 2 years IT returns for self employed is desirable for loan approval.
How to compare and decide on best travel loan?
Doing a little home work, before deciding a loan proposal is a good idea. Compare and analyze the following important factors.
Rate of interest on travel loan
First- Rate of interest on travel loan varies from bank to bank. It is based on your employer too. Banks float attractive schemes with low interest rates. Next -Processing fees is a main factor that increase your loan cost.
Our loan advisers can guide you on your travel loan queries. Further- You need to consider insurance premium and visa expenses too when deciding on travel loan . It is an additional loan cost too. So choose an insurance policy with adequate coverage with low premium. Then- Prepayment and foreclosure charges are important too.
When you plan to settle loan early before tenure these charges are extra. Hence consider the same before you decide on travel loan offer.
Loan amount- tenure- EMI
Loan amount- tenure- EMI-work experience-age- employer & interest rate are some of the basic factors the bankers consider for travel loan approval.
EDUCATION LOAN
Truly, Education is the road to success and growth of an economy. Banks indeed offer loan for education purposes. In addition, Students can aspire for higher education in India or foreign countries through education loan. In detail, It is a secured loan where the parents or guardians act as guarantors.
Choose the right Bank for Education Loan
To choose the right bank for education loan you can check EMI on education loan with online EMI calculators. Choose the one that suits you better. The repayment of loan does not commence until six months of course completion for a maximum up to 2 years. But you need to pay simple interest every year. Even this can be repaid after completion of the course too.
Market scenario of Education Loans from various banks
Axis Bank Education Loan – Rate of interest for education loan in India is 13.70% & abroad is 13.70%
Bank of India- Rate of interest for education loan in India is 9.85%. & abroad is 9.85%
Bank of Maharashtra- Rate of interest for education loan in India is 10.25% & & abroad is 25%
Canara Bank- Rate of interest for education loan in India is 9.95% and abroad is 9.95%
Central Bank of India- Rate of interest for education loan in India is 10.10% and abroad is 10.00%
Corporation Bank- Rate of interest for education loan in India is 90% and abroad is 10.90%
IDBI Bank- Rate of interest for education loan in India is 50% and abroad is 9.50%
Indian Bank- Rate of interest for education loan in India is 8.60% and abroad is 10.60%
Indian Overseas Bank- Rate of interest for education loan in India is 10.65% and abroad is 10.65%
Karnataka Bank- Rate of interest for education loan in India is 10.90% and abroad is 10.90%
Karur Vysya Bank- Rate of interest for education loan in India is 11.35% and abroad is 11.35%
SBI- Rate of interest for education loan in India is 8.85% and abroad is 10.00%
UCO Bank- Rate of interest for education loan in India is 65% and abroad is 10.65%
Union Bank of India- Rate of interest for education loan in India is10.20% and abroad is 10.20%
Eligibility for education loan
Applicant age in case unemployed up to 35 years of age and in case of employed up to 45 years of age. Furthermore, Indian nationals who have admission letter from recognized institutions. Students who want pursue higher education.
Employees with more than 3 years of association with an organization can apply for education loan. Maximum loan for studies in India is 10 lakhs and abroad is 20 lakhs. Certainly, Some banks allow up to 30 lakhs subject to conditions
The Most important criteria for loan approval are good academic report- admission letter- passport-visa-abroad study form- Net worth and credit history of guarantors.
What are the costs covered in education loan?
Admission fees
Monthly fees
Examination fees
Equipment
Books
Airfare for abroad
Personal computer
Lodging and boarding
Caution deposit
Insurance premium
Above all, These are few expenses covered in education loan
How to decide which bank loan is the best education loan deal?
First of all, The bank that offer loan towards studies in the educational institute can be considered for comparison. Secondly, Compare the favorable educational loan offers that suit your repayment, interest rates and courses you choose.
For more information and details, get in touch with our loan consultants.
Finally, We are happy to answer your Bank Loan queries!
