mobile
Search

The EMI of an applicant is calculated by taking into consideration the following points:

Net Income.

Number of years available (Retirement Age – Current Age).

The minimum credit score that you should have to get a home loan is 650
Any one of your blood relative. For example :- father and son, Unmarried Daughter and Father, Brothers and Sisters, Husband and Wife.
If the current company you are working in gives in written that you can work till a certain age your loan tenure can be extended.
Yes, if the EMI fits your Eligibility.
In a fixed interest rate, the interest is unaffected by changes in the market. The interest is paid on a monthly schedule. Meanwhile, floating rates, also known as adjustable-rate home loans, are a type of loan in which the interest rate fluctuates over the life of the loan, owing to market rate fluctuations.
For creating an Asset, income tax benefit, employee subsidy.
Yes, you can pay off the home loan earlier than the suggested timeline without any prepayment charges
Currently there is no scheme for home loan

The major instances when a home loan can get rejected are as follows:

Income Eligibility

Low Credit Score

Property title not clear

Improper documentation

Property type

700+ is a good credit score to avail an instant business loan
Business vintage, profile, turnover, credit score, availability of business proof, owned/rented residence and office, profit of business, Banking transactions.
36 months are normal tenure in Business Loan if loan amt is >= 5 lacs.
In BL, there is particular GST surrogate program. Wherein lenders offer business loan on basis of GST turnover.
4-5% depending on lender to lender are the pre-closure and post-closure charges in a business loan
Mudra loan, ECLGS & CGTMSE are the schemes initiated by the Government of India related to business loans
No, Startup or a small home based business cannot avail a new business loan
Yes , Having no CIBIL history affect the business loan process
5 Working days
Yes, It will affect your co-applicant if you fail to pay the business loan instalments on time
Self employed professional/ Self employed non professional
Yes, You can get business loan without collateral
Yes, Business loan does affect your credit score
Yes, Business loan can give you tax benefit
Yes, pre-closure and part payment is permitted in a business loan
It starts from 10.50% it goes upto 24% (it varies from Lender to Lender) it also changes from time to time as per government rules.
A Personal Loan Overdraft allows you to withdraw an amount at any time, and repay it as per your convenience and you have to pay interest only on borrowing amt.
Banks, Borrowing cost of NBFC’s is higher therefore NBFC’s have higher rate of interest compared to Banks
No, banks cannot change the rate of interest during the loan tenure
No, there is no discount on personal loan
650 is the minimum credit score required to avail a personal loan
No, You cannot cancel a personal loan after the loan amount has been disbursed to you
No, there is no discount on personal loan
Student can apply but he should be Salaried
No, You cannot get a personal without a salary slip
No, there isn’t an option of no interest personal loan
No, You do not need to provide any security or collateral or guarantors
Yes, pre-closure or part payment permitted in a personal loan
Loan Against Property or LAP is a secured loan that allows you to pledge your residential or commercial property in exchange for a loan. LAP can be availed by both salaried individuals as well as business owners. The bank approves a credit amount of up to 80% of the current value of the property. As a loan buyer, you can mortgage a self-occupied or rented property or any piece of land owned by you. However, you need to make sure that the title of the property is clear.
Yes, Loan Against Property is a secured loan, also known as a mortgage loan, that can be availed by pledging your property as a security or collateral
There are no restrictions on the end-use of Loan Against Property. So you can avail it for varied purposes by mortgaging a residential, commercial, or industrial property. The property being mortgaged should have a clear title and should be loan free

While the eligibility criteria for Loan Against Property may vary from one lender to the other, there are some common factors which are considered by all. These include the market value of the property, the applicant’s income, employment status, age, savings, and repayment track record across credit cards, previous loans, etc. 

The maximum age at maturity for salaried individuals is 60 years, and for businessmen and self-employed professionals, it can be higher up to 70 years

You have the flexibility to choose from multiple property types:

·       Residential properties (both self-occupied and rented)

·       Commercial properties (both self-occupied and rented)

·       Residential plots with no construction on it

·       Industrial properties
You can click on the ‘Sign in’ button on the top right corner of the SwitchMyLoan website and log in to check the status of your loan
Yes. You can avail Loan Against Property as a co-owner, provided all co-owners are co-applicants for the loan

You can execute foreclosure or part-payment on Loan Against Property (LAP) without any penalty or charges, provided you fulfil the following conditions:

·       Your loan has been sanctioned at a floating rate of interest as is the norm, and not at a fixed rate.  

·       The Loan is sanctioned in the name of one or more individual borrowers and not corporate entities.

·       Neither the borrower nor the co-borrower is a corporate entity (Ltd. or Pvt. Ltd. Company) or a firm (Partnership or AOP)

·       The prepayment amount should not exceed 25% of the outstanding loan amount, as on every 1st day of the financial year.

·       The customer should have successfully completed the lock-in tenure advised by the lender.
The Loan amount will be credited to your bank account.

Yes, your property needs to be insured against fire and other calamities during the tenure of your loan, and it is advised that the applicant too has Life Insurance.

Proof of insurance will need to be submitted to the lender every year or as and when required.
If you have investments in the Capital Market, you can mortgage the same to avail Loan Against Securities
The securities you can avail loan against are Shares, Mutual Funds, Bonds and Life Insurance Policies

Yes. Even though the securities will be pledged in the name of the lender, you will still be entitled to all the benefits such as dividends, bonuses
It’s an Overdraft product and hence the interest needs to be paid only on the utilized amount. No income proof is required for Loan Amounts below Rs. 2 Crores. There is minimal documentation and you can avail the Loan in 48 working hours
Basis the Holding Statement you share with us, we will calculate the eligibility as per the approved script list of various lenders, and share the best options with you.
Yes, then you can get limits against only one script, provided the script is a CAT A Stock. This is also subject to lender discretion
The minimum loan amount offered against securities is Rs.5,00,000. There is no upper limit for the loan amount.

There are Four types of car loan available:

·         New Car Loan- Purchase of a brand new car

·         Used Car Loan- Purchase of a used car

·         Used Car Refinance – Loan against your own car

·         Used car balance transfer + top up – if you have an ongoing loan against your car you can avail a balance transfer and seek a top up on that.

Existing loan Balance Transfer +Top up - If you have a Car on which a loan is ongoing you can avail a loan up to 250%* of the car market value.

Refinance - If you have a Car on which there is no loan running you can avail a loan up to 90% of the car market value.

Repurchase – we can provide up to 100% funding on Car Market Value 

 It takes around 3 – 4* days to avail a Car loan 

The outstanding balance of the old loan will be settled by the new bank, however the outstanding balance will have to be repaid to the new bank as per agreed rates and tenure. If you opt for a top up you will receive additional funds which would have to be repaid as per the loan agreement

You can avail a loan up to 7 years* depending upon the type of loan 

Documents required to avail an Auto Loan are

·         Aadhar Card

·         Pan card

·         RC copy

·         Insurance copy

·         Electricity bill

·         6 Month Banking

·         Existing car loan State Of Accounts.

If you don’t pay your EMI your credit score will be affected. If the default is for a prolonged period the bank has all the rights to seize your vehicle. It is advisable to ensure all EMIs are paid on time to maintain a healthy credit report