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.

Benefits of Travel Loans

What are all the Benefits of Travel Loans ?. How can you avail it ?. Who is the Best Travel Loan Consultants in Chennai, Tamil Nadu, India ?.

What are all the Benefits of Travel Loans ?. How can you avail it ?. Who is the Best Travel Loan Consultants in Chennai, Tamil Nadu, India ?. S & P Bank Loan Services is indeed one of the Finance Consultancy Firm for Loans for Travelers.

Easy Finance for Travel purposes

Over few decades, India has better per capita income of individuals for spending. There are also easy financing options available for any personal purposes especially for Travel. All this made people prefer to travel to other locations for sightseeing and adventurous trips. Main reason is to take a break from stressed routine life.

Easy Finance for Travel purposes in Chennai

Travel Loan, a type of personal loan for travel purpose.

If you want to travel to your dream destination ?. Now you can travel the next day. Don’t worry for finance. By the way, Now money is not a hindrance for your travel destination. Travel loan is available for you to reach dream destination.

Travel loan is a type of personal loan intended for travel purpose. You can avail travel loan for domestic or foreign trip.

Collateral Free

Travel loan is an unsecured loan. No need to mortgage any assets. No need to worry for guarantor or co-borrower. Thus travel loan is hassle free loan.

Flexible Terms

Most lenders offer flexible tenure as per your wish. Cost of the holiday is spread out over tenure of the loan. As cost is spread out, you can use the cash in hand to some needy purposes too. You will be paying fixed EMIs throughout the tenure.

Generally banks offer loan for a period of 1 year to 5 years. Lender offer minimum loan amount of Rs. 10,000/-. Loan if offered between age group pf 21 years to 55 years. Travel loan is available for both salaried and self-employed persons.

Low Interest Rate

Considering the demand for personal loan intended for travel, all banks offer competitive rates. Spending on credit card based EMI loan option makes your interest rate higher. Offering low interest rate, make your travel cost cheaper for you.

Minimal Documentation

Documents required for travel loan is very minimal comparing to car loan and housing loans. For a travel loan, you need to submit loan applications, ID proof, address proof and income proof. We at S & P Loan consultants manage the documentation work for you and make you more relaxed. No need to visit the branch too. You can spend time on planning and arranging things for your dream trip.

Quick Disbursal

As you are aware, like any other loans, travel loan also requires good credit score. It is the first eligibility criteria for travel loan like any other loans. With a good credit score, your loan gets disbursed soon. Many lenders offer travel loan online. They also offer in paperless mode instantly. Just a Single click fulfill your travel to dream destination.

Single disbursements

Benefits of Travel loan is first of all disbursed as single lump sum amount. No need to wait for anything, when finance is ready. You can plan for to and fro ticket booking which results in cost saving for you. In other Words, You can also book hotel in advance which also saves your money.

Finance Consultants for Travel Loans in Chennai | Benefits of Travel Loans in India

Firstly, You can also list out the other expenditure based on money with you. Thus, make a clever plan & budget based on the loan amount available with you. As a result, You will not miss any places planned for if you have a plan & budget.

Travel loan covers ticket cost, travel cost, all kinds of transportation, You can repay the loan in EMIs. Make sure EMI amount fix within your monthly budget.

No restriction on use of funds

On receipt of loan amount, no need to prove end use of funds to any lender. No need to give the breakup of expenditure to anyone. You can spend the loan amount as per your travel wish

Don’t wait for anything. Plan you travel now. Finalize the travel destination and give us a call. Our consultants can support you with approximate loan amount required for your dream destination.

Contact Bank Loan consultants to avail the full Benefits of Travel Loans

Contact Bank Loan consultants to avail the full Benefits of Travel Loans

Our Loan Consultation executives can also help you all in all in checking eligibility amount for travel loan. Moreover, Top Bank Loan Consultants in this Firm can also offer you with best market lenders available in the market. In fact, We help you to choose and explain the best Benefits of Travel loans with low interest rate, cash backs, flexible tenure and best repayment options.

Contact Travel loan consultants makes your travel loan simple easy and fast. Be ready to make your memories unforgettable for your life time.

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
Park TownSholinganallurKoyambeduMedavakkam
PeriametuAlandurAshok NagarSithalapakkam
ChoolaiAdyarKK NagarKovilambakkam
VepperyBesant NagarKK Nagar WestNanmangalam
PattalamTriplicaneKK Nagar EastKarapakkam
PulinanthopeT. NagarOragadamPallavaram
M.K.B NagarThiruvanmiyurAyapakkamTambaram
Sharma NagarSaidapetPattravakkamPerungalathur
SelavoyalGuindyThirumullaivoyal northPalavanthangal
EdapalayamMadipakkamAvadi northPeerkankaranai
MAnjambakkamNanganallurRedhillsMudichur
PonniammanmeduVelacheryAjaxVandalur
SembiamTaramaniKathivakkamKolappakkam
T.V.K NagarPallikaranaiErnavurKandigai
ICF Colony northKeelkattalaiWIMCOMambakkam
CentralKovilambakkamSathangaduPudhupakkam
PadiThoraipakkamRajakadaiPalavakkam
KoratturNeelankaraiKadambakkamVaradharajapuram
Lakshmi puramInjambakkamKathirveduMedavakkam
Ambattur northChromepetMoolakothiramPazhaverkadu

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

 

Great News to all MSMEs & borrowers- ₹350 Crore finance from Veritas Finance

Great News to all MSMEs & borrowers- ₹350 Crore finance from Veritas Finance: Bank Loan

Non-Banking Finance Company (NBFC) in Chennai

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.

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.

Funding of working capital, buying assets and business expansion | Bank Loan

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 employment opportunities | Bank Loans for MSME

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.

Rate of Interest in Various Banks in India

Availing a bank loan is simple and easy. The Banks follow a systematic procedure for approval of loans. Thus, Bank Loan approval depends of factors like credit score, Loan amount, repayment tenure, interest rate and other market factors

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.

What is Rate of Interest in Various Banks in India ?.

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!

Loan Consultation offered in the following areas
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 CornerThirumullaivayalAlapakkamKodambakkam
RoyapuramThiruverkaduAnna NagarThirunindravur
VillivakkamNandambakkamAnnanurIyyappanthangal
PeramburNerkundrumAgathiyar NagarKattupakkam
KorukkupetNesapakkamAmbatturPoonamallee
TiruvottiyurNolamburBhuvaneshwari NagarThirumazhisai
VyasarpadiRamapuramChinmaya NagarThiruvallur
ManaliMugalivakkamC.M.D.A ColonyPallavaram
TondiarpetMangaduDefence ColonyPozhichalur
Vallalar NagarM.G.R NagarPadiAnakaputhur
EnnoreM.G.R GardenAyappakkam.Pammal
Old WashermenpetPallavan NagarThiruvallurKundrathur
KavangaraiPorurArakkonamMangadu
New WashermenpetPoonamalleeKoratturChrompet
KorukkupetMoulivakkamMogappair EastThiruneermalai
MannadiMMDA ColonyMogappair WestKeelkattalai
George TownSouth ChennaiArumbakkamChitlapakkam
Seven Wells East ChennaiAvadiTambaram
Basin BridgeMylaporePudurSelaiyur
SowcarpetPerungudiMaduravoyalMadambakkam
Park TownSholinganallurKoyambeduMedavakkam
PeriametuAlandurAshok NagarSithalapakkam
ChoolaiAdyarKK NagarKovilambakkam
VepperyBesant NagarKK Nagar WestNanmangalam
PattalamTriplicaneKK Nagar EastKarapakkam
PulinanthopeT. NagarOragadamPallavaram
M.K.B NagarThiruvanmiyurAyapakkamTambaram
Sharma NagarSaidapetPattravakkamPerungalathur
SelavoyalGuindyThirumullaivoyal northPalavanthangal
EdapalayamMadipakkamAvadi northPeerkankaranai
MAnjambakkamNanganallurRedhillsMudichur
PonniammanmeduVelacheryAjaxVandalur
SembiamTaramaniKathivakkamKolappakkam
T.V.K NagarPallikaranaiErnavurKandigai
ICF Colony northKeelkattalaiWIMCOMambakkam
CentralKovilambakkamSathangaduPudhupakkam
PadiThoraipakkamRajakadaiPalavakkam
KoratturNeelankaraiKadambakkamVaradharajapuram
Lakshmi puramInjambakkamKathirveduMedavakkam
Ambattur northChromepetMoolakothiramPazhaverkadu

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