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Finance Seva Loan

587 days ago
School Loan
Unfiled. Edited by Finance Seva Loan 587 days ago
Finance L School Loan
School Loan 
A school loan is also a business category school loan, this loan can be avail by any business owner or any individual who wants to construct a school building to run the school. School loan can be an unsecured loan, that means you can have a loan with any pledge or mortgage. It will help you to save your assets. 
The borrower needs to be capable to borrow this loan there are some eligibility criteria for them. Even some documents are required to submit along with your application form for the loan.
 
Eligibility criteria
  • An individual should be Indian or resident of India. 
  • The age should be between 21 to 70 (may vary from lender to lender) 
  • Your CIBIL (Credit Information Bureau India Limited) score should be more than 700  
  • If you are self-employed should have experience of 3 years at least. 
How to apply? 
You can apply online or offline to apply for the school loan in. Online processing is easier than offline, to apply online you can visit online websites and apply through the portal. On the other hand, to apply offline you need to visit the banks or any other financial institute where you are going to apply for the loan. Submit your application form along with the documents. 
 
In both processes, you can get a school loan interest rate within three days from the banks. Immediate sanction, Easy disbursement, and best offers on the loans provides by the many lenders.
 
 
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588 days ago
Capital Loan
Unfiled. Edited by Finance Seva Loan 588 days ago
Finance L Capital Loan
 
Capital Loan 
The capital loan is generally borrowed to cover day-to-day business operational costs which include management, purchase of goods, rental expenses, employee salary or wages, and other office-related expenses. There would be various NBFC's too providing capital loan but majorly compared to many terms Government or Private Banks are far better at availing loans.
 
There is a range of factors that determine the maximum loan amount, and in case-to-case things get varied. Usually, the Lender imposes a fee for processing loan applications which would be 0.50% - 2% of the total loan amount varies from bank to bank.  
Eligibility criteria for capital loan 
  • The common eligibility criteria of Capital Loan are given below: -
  • The applicant must be resident of Indian. 
  • Minimum 3 years of business vintage
  • LLP (Limited Liability Partnership), Private Limited & LLP are eligible 
  • For getting capital loan interest rate you must have credit score above 750 as much as the higher credit score is that much possibility of getting loan increase with that it also provides you the benefit to negotiate better rates & terms. 
Documents required
  • Company ROC (Registrar of Companies) as proof of minimal 3 years business existence 
  • 2 Passport sized photographs
  • Latest 1 year Bank Statement 
  • Office address proof 
  • Personal identity & residential proof 
From financeseva, you can get a capital loan up to 2 Crore and a Collateral free loan is available along with the longest repayment period.
 
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590 days ago
Letter of Credit TypesLetter of Credit Types
Unfiled. Edited by Finance Seva Loan 590 days ago
Finance L Letter of Credit TypesLetter of Credit Types 
Letter of credit types are a guarantee in which one party is required to guarantee something to another party. The guarantee is given by the banks to sellers that they will be paid for a large transaction. This is particularly common in international or foreign exchanges.it is considered as a form of payment insurance from a financial institution or another accredited party to the transaction.  
There are four major types of letter of credit.
Revocable Letter of Credit 
In this category, the letter of credit can be revoked by a bank which issues a letter of credit without the agreement of the beneficiary.
Irrevocable Letter of Credit 
If an applicant applies for a duty credit scrip/ discharge of EO against a confirmed irrevocable letter of credit or bill of exchange that is unconditionally co-accepted/ avalised/ guaranteed by a bank, this is confirmed and certified by exporter’s bank in a relevant Bank Cert Revocable Letter of Credit.
Standby Letter of Credit 
In this type guarantee of Payment is available for the customer. If the beneficiary is not paid by its customer, then the payment can be demanded from the Bank by forwarding the copy of the invoice that was not paid and the supporting documentation.
Revolving Letter of Credit 
In this category, the implementation will be on the regular shipments of the same commodity between the supplier and the customer. During the procedure when it is eliminating there will be need to issue a Letter of Credit for every individual transaction.
 
 
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591 days ago
Hospital Loan Interest Rate
Unfiled. Edited by Finance Seva Loan 591 days ago
Finance L Hospital Loan Interest Rate
 
Hospital Loan Interest Rate 
What is a hospital loan? 
To get a comprehensive financial solution to establish a hospital, hospital loan interest rate are provided by various banks and financial institutes. The loan can also be used for various purposes such as healthcare equipment, to upgrade or renovate your medical establishment's infrastructure, install new equipment, add new medical facilities. 
 
The mentioned entities are eligible for the hospital loan
  • Doctors
  • Hospitals
  • Diagnostic centres
  • Nursing homes
  • Trusts, societies
  • Limited companies  
 
Interest Rates on the Hospital Loan  
The specific interest rate applicable to a customer can be based on factors such as customer profile, relationship, and tenure of loan etc. The interest rate on your loan may also depend on these factors also such as the size of the business, repayment history, and financial health of the company.
 
There will be some additional charges including Stamp duty charges shall be applicable, Additional documentation charges as applicable. These charges may vary from one lender to another.
 
Generally, banks provide flexible repayment tenures of up to 84 months (about 7 years), and attractive interest rates on the loan. You can even get healthcare equipment financing loans without collateral; the equipment funded acts as the primary collateral for the loan. The loan amounts can go up to INR 15 crores, meaning you can provide the best equipment for your patients.
 
One more interesting fact related to interest rates is that you can use an online hospital loan calculator to estimate your EMIs, and interest rate on the particular loan amount. You should use a loan calculator before deciding.
 
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592 days ago
Lowest Home Loan Rates
Unfiled. Edited by Finance Seva Loan 592 days ago
Finance L Lowest Home Loan Rates 
Interest rates on home loans are provided by public and private sector banks as well as housing finance companies as listed on National Housing Bank's website Banks and HFCs are based on interest rate i.e., bank/HFC offering the lowest lowest home loan rates (Loan amount= Rs 75 lakh) is placed at the top and highest at the bottom. is calculated on the interest rate mentioned in the table for a Rs 75-lakh loan with a tenure of 20 years. For example: In public sector banks, Punjab & Sind, Punjab National Bank, UCO Bank, Indian Bank, Bank of Baroda, and Bank of India offer an interest rate of 6.5 percent to their home loan borrowers. The EMI for these banks' home loan borrowers will amount to Rs 55,918. This is for a Rs 75-lakh loan with a tenure of 20 years. Kotak Mahindra Bank is the sole private sector lender on a list of 10 cheapest home loan providers. Its lowest home loan rate on offer is 6.55 percent and the EMI works out to Rs 56,139. Other private banks also provide home loans at various interest rates to borrowers.  
There are mainly two types of home loan interest rates charged by most of the banks. 
 
1. Fixed Interest Rate: 
The fixed home loan interest rate is constant throughout the loan tenure. There will be no change in the interest charges since the rate remains fixed. Depending on the offer, you may be allowed to switch over to the floating rate system after completing a certain duration of the loan tenure. A fixed interest rate decides how much interest you are paying on the amount. Your loan will be shielded from frequent rate fluctuations and save money eventually if there is a hike in lending rates. But, If the standard lending rates fall, you will not benefit since the interest component remains frozen.
 
2. Floating Interest Rate: 
The interest charges on your home loan are subject to the current most lending rates of the bank. The rate is linked to the latest published rate of the bank which in turn depends on multiple factors such as RBIs (Reserve Bank of India) monetary policy and lending rate revisions, the bank’s response to the revision etc. Fixed interest rates are usually 1- 2.5% higher than floating interest rates.
 
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593 days ago
Bank With Overdraft
Unfiled. Edited by Finance Seva Loan 593 days ago
Finance L Bank With Overdraft
 
Bank With Overdraft 
A bank overdraft is one of the financial instruments that is given to some customers through the bank with overdraft to extend the credit facility, which effects in the main balance of the reaches account zero. In the simple words, bank overdraft is a credit unsecured form that majorly use for fulfilling the short-term cash requirements. Banks provide a credit limit to the customers basis on their relationship with the bank. The bank levies charges and separate interest towards non-maintains of account. For the overdraft facility, the interest rate may vary from bank to bank. 
 
An overdraft is a credit facility in which you can withdraw money from the current or savings account, even if the account balance is zero. An overdraft facility is an extension of the credit type limit offered by banks. The sanctioned limit is said to be ‘overdrawn’. An authorized Overdraft limit is assigned for every kind of customer reliant on their relationship with the bank. The customer can withdraw money up to the assigned limit. The interest rate offered by Overdraft is calculated on the withdrawn amount from the total sanctioned limit. It shall play a different role from lender to lender and reliant on the bank overdraft amount requirement, the account balance in your current or savings account, and your relationship with the respective Bank.
 
 
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594 days ago
Tourism Loan Scheme
Unfiled. Edited by Finance Seva Loan 594 days ago
Finance L Tourism Loan Scheme
 
Tourism Loan Scheme 
 
Many tourism loan schemes are launched by the government of India and some other schemes also launched by the different state governments. Hon'ble Finance Minister announced a guarantee/collateral-free loan guarantee scheme for the tourism sector on 28.06.2021. The Ministry of Tourism launched the 'Loan Guarantee Scheme for Covid Affected Tourism Service Sector (LGSCATSS)'. 
 
The scheme aims to extend loans to the distressed tourism sector to help them discharge their liabilities and restart their business affected due to the Covid-19 pandemic. The validity of the said scheme is till 31.03.2022 or till the guarantee of Rs. 250.00 crores are issued under the scheme. 
 
The loan amount can be avail upto Rs. 10.00 lakh each with the approval by Ministry of Tourism of Tour operator/Travel Agents/ Tourist Transport Operators. The Loan amount upto Rs. 1.00 lakh each may be availed by RLGs/IITGs approved by Ministry of Tourism and Tourist Guides approved by State Govt./UT Administration. 
The scheme has been made operational through NCGTC (National Credit Guarantee Trustee Company); guidelines available on NCGTC website. 
 
Five Scheduled Commercial Banks have already launched the scheme.
  • Punjab National Bank,  
  • Central bank of India,
  • Union Bank India,  
  • Bank of India and  
  • Karur Vysya Bank 
 
Other Scheduled Commercial Banks are also being directed to launch the scheme.
Another scheme for the tourism loan scheme interest rate.  
Central Financial Assistance to Information Technology (IT)
 
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