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630 days ago

Unsecured Loans India

Unfiled. Edited by financeseva1234 loan 630 days ago

financeseva1234 l Unsecured Loans India

Unsecured loans are those that are provided by the banks and other financial institutes without mortgaging any collateral, risk of asset loss is eliminated, for loan disbursement.

The bank analyses the past relationship with the borrower, the credit score, and other factors to determine whether the loan should be given or not. The interest rate for such loans can be higher as compared to secured loans because there is no way to recover the loan amount if.

There are various unsecured loans which are available in India for the borrowers some are following provides by banks and other lenders:

Education Loan

Education loans can avail by the students who wants to pursue higher education in India or abroad. Due to lack of money, students can go for financial instruments such as education loans. The course can either be an undergraduate degree, a postgraduate degree, or any other diploma/certification course from a reputed institution/university. You must have the admission pass provided by the institution to get the financing.

Personal Loan

The purpose of the personal loans can be anything like consolidating, old debts, to pay medical bills, for wedding, to purchasing big-ticket furniture or gadgets etc. If you have liquidity issue, you can go for a personal loan. Personal loans are offered based on the applicant’s past relationship with the lender and credit score or with a stable source of income.

Vehicle Loan

Vehicle loans can be avail for the purchase of two-wheeler and four-wheeler vehicles. Further, the four-wheeled vehicle can be a new one or a used one. Based on the on-road price of the vehicle, the loan amount will be determined by the lender. You may have to get ready with a down payment to get the vehicle as the loan rarely provides 100% financing. The vehicle will be owned by the lender until full repayment is done.

Home Loan

Home loans can be provided for the purchase of a house/flat, construct a house, renovate/repair an existing house, or purchase a plot for the construction of a house/flats.

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639 days ago

Business Loan Eligibility

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financeseva1234 l Business Loan Eligibility

Financeseva offers unsecured Small Business Loan in Delhi for low interest rates.Check your eligibility criteria for a business loan in Delhi here.

Eligibility Criteria for Small Business Loan

The criteria that you must meet before applying online for a small business loan include:

The applicant must be a self-employed professional, manufacturer, retailer or trader

The minimum age to apply for a business loan application should be 21 years

The maximum age at the time of loan maturity should be 65 years

The applicant should be running a business for 3 years and have at least 5 years of business experience

How to Apply for Business Loan?

There are two ways through which one can avail a business loan, either through a online process or by visiting the nearest branch of the lender.

However, prior to applying for a business loan, make the best use of business loan eligibility calculator to know your eligibility check, and business loan EMI calculator to estimate your monthly payable EMIs. It is recommended to go through the basic business loan eligibility criteria of the lender as well as required documentation before approaching any lender and to reduce the chances of rejection.

Steps to Apply for Business Loan Online

Visit Financeseva.com - click on “Business Loan” page.

Fill in the basic form with correct value which includes personal details requirement specification.

Shortly, a dedicated executive will get in touch with you and explain about the product specifications and check your eligibility

After fulfilling the requirements and document submission, your application will go through various stages of verification

Once the verification is completed, your loan application will be approved.

A sanction letter will be shared over your registered mail address following with amount will be credited to your mentioned bank account.

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655 days ago

Personal Loan Interest Rate

Unfiled. Edited by financeseva1234 loan 655 days ago

financeseva1234 l Personal Loan Interest Rate

Personal loans are one of the popular financial products that you can use to meet various financial requirements.

There are several banks in India who offer best personal loans to their customers, and you can easily apply for it either online or offline.

However, before availing such a personal loan, you should check the interest rate offered by different banks which varies between 10.50% p.a to 24.00% p.a.

Compare the latest personal loan interest rates and processing fee of all banks and apply today.

Current Personal Loan Interest Rate of All Banks 2022

Bank Interest Rate p.a Processing Fee

HDFC Bank 10.50% - 21.00% Up to 2.50%

Yes Bank 10.99% - 16.99% Up to 2.50%

CITI Bank 11.00% - 16.59% Up to 3%

Kotak Mahindra Bank 10.25% and above Up to 2.50%

Axis Bank 12.00% - 21.00% Based on bank

IndusInd Bank 10.49% - 31.50% 3.00% Onwards

HSBC Bank 9.50% - 15.25% Up to 1%

IDFC First Bank 10.49% Onwards Up to 3.5%

Tata Capital 10.99% Onwards Up to 2.75%

State Bank of India 10.60% - 15.65% Up to 1.50%

Karnataka Bank 12.00% - 17.00% Up to 2.50%

Bank of Baroda 10.50% - 12.50% Up to 2%

Federal Bank 10.99% - 17.99% Up to 3%

IIFL 24.00% Onwards Up to 2%

Bank of India 10.70% - 12.40% Up to 2.50%

Punjab National Bank 11.10% Onwards Up to 2%

A personal loan is a type of unsecured loan that allows the bank or financial institution if you require funds to pay for your financial needs. The maximum amount of loan depends on your monthly income. In India, there are lenders who offer up to Rs.40 lakh.

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661 days ago

Loan Against Property Eligibility

Unfiled. Edited by financeseva1234 loan 661 days ago

financeseva1234 l Loan Against Property Eligibility

Loan Against Property Eligibility

While applying for a loan against property, the lender will ask you to meet the basic eligibility requirements. Fulfill the required eligibility criteria based on your occupation and age to avail the loan. Your age, nature of employment, monthly income, value of the property are some of the key factors considered by the lender to evaluate your eligibility.

Refer the below mentioned Loan Against Property eligibility criteria to know more.

Unlike the unsecured loan, the loan against property involves a security that is the property, which the borrower can mortgage in case the loan is not repaid by the borrower. Hence, it is a type of mortgage loan.

Loan Against Property Eligibility Details

In the table is the general eligibility criteria set by financial lenders offering a Loan Against Property.

Minimum Age limit

21 years

Maximum Age limit

65 years – 70 years

Employment Status

Salaried or self-employed individual

Minimum Income

Rs.3 lakh p.a.

Work Experience

Minimum experience of 1-5 years

Interest Rate

9.80% p.a. - 16.50% p.a.

Maximum Loan Amount

Up to Rs.25 crore

Credit Score

CIBIL score of 750 or more

Repayment Tenure

15-20 years (Maximum)

Loan against Property Eligibility for Salaried and Self- employed

While the eligibility for loan property may very bank to bank. Borrowers who have a stable income can be considered to be creditworthy because of their steady, easily verifiable incomes, especially if they have excellent Credit scores.

Any salaried who is a permanent employee of an organization can apply for LAP (Loan Against Property).

Listed below are the common eligibility conditions that a borrower needs to fulfill in order to get a loan against property:

Professionals like architects, chartered accountants, cost accountants, company secretary, doctors, engineers, dentists and management consultants can also apply for it.

Self- employed individuals who are income tax payers are also eligible for loan against property.

The eligibility for loan against property is also calculated based on value of your mortgaged property.

The bank will track your previous loan and credit card bill repayment details.

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681 days ago

MSME Loan Process

Unfiled. Edited by financeseva1234 loan 681 days ago

financeseva1234 l MSME Loan Process

MSME Loan Process

MSME stands for micro, small and medium enterprises, sometimes it is also known to SME for small and medium enterprises. MSME loan is a type of credit facility offered by various banks and financial institutions to individuals, MSMEs, startups and other business entities for business expansion purposes and to meet working capital requirements.

The duration of MSME / SME loans varies from lender to lender. As MSME loans are unsecured MSME / SME Loans, there are some minimum eligibility requirements in order to reduce the risk for lenders.

The maximum loan amount offered under an MSME loan is up to Rs. 1 crore (collateral-free loans) with a flexible repayment tenure of up to 5 years. However, the MSME loan interest rate shall vary as per business requirements and differ from bank to bank.

It also allows various customizations to its financial products which makes them ideal for today’s competitive business environments.

Ticket Value up to ₹ 2 Crore

For SME and MSME Loans the ticket size ranges from Rs.50,000 and goes all the way up to Rs.2 Cr. This makes the business loans a veritable option for micro, small and medium enterprises.

Apply for MSME / SME Loan Online

The entire process of an MSME loan is seamless, easing the process that slows down slows down a loan approval. It even allows you to get same-day approvals and get in-principal letters.

MSME / SME Loans without Collateral

Most of the MSME loans come with an ease of unsecured or no collateral requirements. That means there is no requirement for collateral to get an MSME or SME loan.

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687 days ago

Project Report for Loan

Unfiled. Edited by financeseva1234 loan 687 days ago

financeseva1234 l Project Report for Loan

Project Report for Loan

A project report is a document that includes all the information related to the project. These documents are in written form which are interconnected to a specific investment or project.

A project report includes documents that are used to determine and establish if it is realistic. It carries complete information on the required equipment or machinery prices, land and building, water and power requirements, manufacturing process, raw materials requirements, manpower requirements, financial assessments, project marketing costs, economic viability, efficiency, etc...

The project report involved the estimated date on:

Financial

Technological

Economical

Managerial, and

Manufacturing issues

Elements of project loan

General information

Project description

Rationale

Sources of finance

Assessment of working capital necessities

Government approvals

Social variables

Financial factors, etc.

Table of Content

A detailed project report contains the following information:

Details about the project

Approval by the government

Needed raw materials

Reference for financing

Project finance

Skills of the people that are included in the endorsement of the project.

Information about the collateral should be given to several financial institutions.

Details of the management team

Information about the machinery, land, and building.

Preparing a well-structured project report seems a hassle for entrepreneurs of their own, therefore financeseva comes with the industry experts who will be drafting a fine project report for a particular business.

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688 days ago

Machinery Loan for MSME

Unfiled. Edited by financeseva1234 loan 688 days ago

financeseva1234 l Machinery Loan for MSME

Machinery loan for (MSME) Micro, Small, and Medium Enterprises is considered as a type of business loan to cater to the need of entrepreneurs, business owners and other business entities engaged in the manufacturing, trading and service sectors. The main purpose of a Machinery loan for MSME is to purchase new machinery/equipment or upgrade existing equipment for various business purposes.

Moreover, Loan for machinery purchase aids entrepreneurs in gaining more productivity while using new machinery and equipment. Increase in production or output results in higher profits from sales and distribution.

Most banks and NBFCs offer machinery loans at competitive interest rates. Interest rates offered by banks and NBFCs for their machinery loan shall vary depending on business requirements.

Steps to Apply for Machinery Loan Online Process

Step 1: Borrowers need to visit Financeseva.com to compare better options in a single platform.

Step 2: Fill in and submit the loan application form online

Step 3: Submit all the required documents as mentioned in the document checklist

Step 4: After documents submission, bank’s representative shall contact the applicant to proceed the loan procedure

Step 5: If the application and documents are approved, bank shall approve the loan within defined working days

Step 6: After loan approval, money shall be disbursed in the bank account mentioned of the applicant

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