Interest Rate Down Today - S & P Bank Loan Services

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.

What are all the Benefits of Term Loan ?

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.