All posts tagged India

Grab Best Gold Loans Plans In India

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Grab the best gold loans in India within 24 hours with ease. Yes, it is feasible now to avail the low interest gold finance from any of the loan providing companies in India. Besides it, you are also getting privilege to grab loan against gold from any of the Indian banks.

Gold is a precious metal which is in high demand these days. Most of the people like to use gold in the form jewelries or other gold items. But the market value of this metal is touching the sky day by day. However, it is going to be very difficult for a common person to purchase the costly gold jewelries or other items under the limited salary. In this condition, you may have to apply for gold loan from any of the loan providing companies in India. If you are seeking for the best gold finance providing company, you need to rush to any of the Indian banks which are offering loans at low rate of interest.

India is a hub of varied loan providing companies which have offered you finance at the low rate of interest. Some of the highly acclaimed gold finance providing firms are Kosamattam finance (P) Ltd, Manappuram finance, Muthoot finance Ltd etc. All these banks have come with the profitable loan plans for all finance seekers. However, it is convenient to apply for gold loans in india from any of the popular finance providing company with ease. The loan amount can be sanctioned in your banks account as soon as possible after applying.

The latest loan offer is loan against gold plan. Under this plan, you can easily avail the finance against your gold jewelries or other items. However, the borrower has privilege to grab the cash against the gold in short span of time. You need to apply for the loan and lender will transfer the amount in your banks account within 24 hours. However, the borrower can easily manage to gain the worth of gold stored in the banks lockers or home.

Overseas loan seekers can have privilege to apply for gold loan through the website of Indian banks. You just need to fill the form online and cash will be transferred in your banks account as soon as possible. However, this kind of online service is beneficial for all finance consumers and also save time and money. You can also compare the best loan plans on the website of Indian banks. On the website of Indian banks, you can also grab the information about varied types of loans like home loan, personal loans, credit card loan, education loan etc. These types of finances are also available at the low rate of interest from India banks. You can apply for any kind of finance through the website of Indian banks.

Go for the best gold loan plan of India banks and accomplish the dream to purchase the costly gold jewelries or other gold items with ease.

Manage Home Loan with Easy EMI

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Home Loan is a Secured loan offered against the security of a
house/property which is funded by the bank, the property could be a
personal property or a commercial one. It is a loan taken by a borrower
from the bank issued against the property/security intended to be bought
on the part by the borrower giving the banker a conditional ownership
over the property i.e. if the borrower is failed to pay back the loan,
the banker can retrieve the lent money by selling the property. Home
loans are an attractive and popular means of buying a dream house for
most people. In India, the demand for home loans has increased manifold
in the last decade. Every day numerous people apply for home loans to
own a perfect abode for themselves. The fact that home loans come with
added advantages (like tax benefits) is the icing on the cake.


Interest rates on home loans for new consumers have come down by around
four per cent since September 2008 but consumers who had the misfortune
to take their loan before that have only seen their rates drop by
around 1.50 per cent to 2.25 per cent.

Home loan India can
primarily be classified into two categories on the basis of interest
rates i.e. fixed rate and floating rate of interest. There are very few
lenders in India who offer pure fixed rates where the rate of interest
remains constant for the entire tenure of the home loan, while most
lenders have a reset clause of 3-5 years. In floating home loan type,
the rate of interest on such loans is subject to change whenever there
are changes in the repo rates announced by RBI or any changes in base
rate of the bank. Borrower should opt for fixed interest rates only if
she/he is certain that the rate of interest is the lowest in the
interest cycle.

Home loans in India are provided by the lenders
up to maximum of 80% (90% for loan amount below Rs 20 lakhs) of the
agreement value of the house. In case of home loan for resale flats,
most lenders get the property valued independently and they will provide
the housing loan based on their value rather than the cost mentioned in
the purchase agreement. Frequently, the valuation as determined by the
banker’s valuer for the purpose of home loan is significantly lower than
the actual cost and hence the requirement of the borrowers for down
payment for the loan goes up. Also note that banks do not consider other
charges like Stamp Duty, Registration Charges, etc. while considering
the home loan amount eligibility.

Home loans are repaid through
monthly installments (EMI) spread over up to 20 years. Some of the banks
provide housing loans even for a tenure extending up to 25 – 30 years.
The maximum tenure of any loan and home loan specifically is also
restricted by the borrower’s age at the end of the tenure so as to
ensure that the loan gets fully paid by or before the retirement age.

Home loan eligibility depends up on various factors. A few of them are listed below –


House is the ultimate dream of every middle class family. Government
gave encouragement for house finance subsidiaries by offering number of
tax concessions to individuals. With the overall encouragement given to
this sector, a number of players entered in housing finance.

One
of the most important benefits of taking a home loan is the interest
rate that is allowed on the home loan. Fixed and variable interest rate
options are also available for home loans. If you can handle risks and
are willing to go the extra mile to benefit from any further fall in
interest rates, floating rate home loans will be best suited for you.

Loan Against Property – What You Must Know

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A loan against property (LAP) is exactly what the name implies — a
loan given or disbursed against the mortgage of property. The loan is
given as a certain percentage of the property’s market value, usually
around 40 per cent to 60 per cent.


Loan against property belongs to the secured loan category where the
borrower gives a guarantee by using his property as security.LAP is
pretty similar to personal loan; the only difference being you put a
property owned by you as collateral against the loan. This property
might be confiscated in case you default on the loan. As there is
collateral against the loan, banks feel more secure in lending and hence
the borrower gets some bargaining power as compared to personal loans
which is unsecured.

What purposes can I take a loan against property for?

Loan against Property can be taken for following purposes:

When to take a loan against property?


It’s easier to get a loan against property, then a host of other loans.
Also, Interest rates are far more attractive than other forms of loans,
like personal loans. Also, the property continues to be in the name of
the owner and the asset can be put to a more productive use.

Loans against property is yet to catch up in India, but it’s something that can certainly be considered.

This gives following advantages:

Important Features of LAP

Few features related to LAP which makes this option attractive:

Why you should opt for LAP?

There are three basic reasons which make this option worth consideration-

1. Lower Interest Rate


As it’s a secured loan; you get a bargain of 4 to 5% on the interest
Rate you pay as compared to personal loan. The Interest rate ranges from
11 to 14%. This lower interest rate gives a clear edge to it over
personal loan where you pay interest in the range of 16 to 20%.

2. Longer Tenure of Repayment


This feature further reduces your EMI burden as you can get LAP up to
10 to15 years. When your cash flow is not steady this feature makes the
option even more attractive.

3. Ideal Use of Property

In
case you own a property and not using it, LAP gives an opportunity of
optimum utilization. You do not lose the ownership and get Funds at
cheaper rates at your disposal.

A loan against property is one
of the best ways to raise money. The only disadvantage of such a loan is
that if the borrower is not able to pay the loan fully, the bank or the
financial institution can take possession of the mortgaged property.
Base your decision on your repaying capabilities.

Wainganga Krishna Gramin Bank – Housing Loan Scheme

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Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wa…

Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wainganga Kshetriya Gramin Bank, Chandrapur, Solapur Gramin Bank, Solapur and Ratnagiri-Sindhudurg Gramin Bank, Ratnagiri.

The authorized capital of the Bank is Rs. 500.00 lakhs and the paid up capital is Rs. 400.00 lakhs. Government of India, Government of Maharashtra and Bank of India has contributed 50 %, 15%, and 35% of the share capital respectively

Purpose: This loan finances acquiring a house.

Quantum of Loan: Up to a maximum amount of Rs. 20 Lakhs is granted as loan Under Priority Sector & above Rs. 20 lakhs NPS maximum Rs. 50 lakhs.

Eligibility: This loan scheme is restricted to allotted 12 Districts of Maharashtra.

Margin: Up to Rs. 10 lakhs there is a margin of 15 % and above Rs 10 lakhs the margin is 20%.

Rate of Interest: Interest rates differ on the basis of amount of loan & repayment period. The maximum rates for the repayment period of 15 to 20 years are as below. Up to Rs. 05.00 lakhs -10%,

Rs. 5.00 to 20.00 lakhs – 10.50%,

Over & above Rs. 20.00 – 11.50%

Assam Gramin Vikash Bank – Car Loan Scheme

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Government of India through a notification dated 12th January 2006 amalgamated the four Regional Rur…

Government of India through a notification dated 12th January 2006 amalgamated the four Regional Rural Banks sponsored by the United Bank of India in the state of Assam to form Assam Gramin Vikash Bank (AGVB).

The erstwhile RRBs amalgamated were Pragjyotish Gaonlia Bank (Established on 06-07-1976), Lakhimi Gaonlia Bank (Established on 29-07-1980), Cachar Gramin Bank (Established on 31-03-1981) and Subansiri Gaonlia Bank (Established on 30-03-1982).

Thus Assam Gramin Vikash Bank (AGVB) came into existence from 12th January 2006 covering the areas of operation of the pre-amalgamated RRBs. The bank has its Head Office at Guwahati.

Purpose: This loan finances purchase of Motor Car.

Eligibility:

i)Applicant must be a depositor of the Bank.

ii)Minimum Net Monthly income of the applicant should be Rs.5000/-

iii)Permanent employee of Government / Public Sector/Corporate Organization or Professional and Self Employed Persons with reasonable income surplus can also avail this loan.

Loan amount: The maximum loan amount is Rs.3.50 lakhs (in case wife is co-borrower Rs.4.50 lakhs). This is subject to the condition that loan amount does not exceed 15 months net income of the applicant and total deduction does not exceed 60% of Gross salary.