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21 Jul

Personal Loan Services from Finheal

A personal loan can help you meet sudden expenses such as school or college fees, dream vacations, wedding expenditure, and home renovation projects or even for the purchase of consumer durable. Applying for a personal loan is a lot easier, quick, and convenient with Finheal. A Personal Loans is a great way for handling your financial needs and acts as an assets in putting your plans into actions. When expenses arise, like buying your first dream vehicle, your smartphone, your child’s marriage, furnishing your home, higher education for your kids or a family holiday, just go through our website and let us help you turn your personal as well as commercial dreams into reality.

With Finheal a broad range of Personal loans, meet all sorts of financial needs without bothering about holding any collateral or property. Our array of personal loans are simple and can be changed according to your requirements and are designed with your changing needs in mind. Just follow a few simple procedures to help our team understand your needs.

Personal Loan Features & Benefits

Presenting Finheal home loan solutions, now you don’t have to wait to fulfill your dreams. Be it renewing your home or going to your dream vacation or buying for someone special that coveted gift, Finheal cares most to make it happen.

Fulfill all your financial needs with our hassle free online Personal Loan, which are designed to help you live life to the fullest.

Obtain a personal loan quickly with easy documentation, quick processing, and fast disbursal.

Enjoy the convenience of doorstep service

Pick a loan tenure as per your comfort ranging from 1 to 5 years

You need not worry about collaterals or guarantors

Get rid of your high-interest debt through ‘Balance Transfer Option.

Get the best in class personal loan interest rates

Choose a convenient repayment option from, Private or Public Bank a/c debit or ECS from your other.

We understand that the reasons for getting a personal loan can be numerous and varied. To cater to your specific requirements, IndusInd Bank offers you tailor-made personal loans in multiple categories. These are as follows:

PL for Medical Expenses
PL for Home Renovation
PL for Education
PL for Wedding
Personal Loan for Tours and Travels

You can also opt for a personal loan online and get instant solution to all your immediate financial needs. Browse our website to know more about how to get a PL in the most hassle-free manner.

11 Feb

Loans you can acquire in Delhi – There is One for each require!

Many people make use of loans for urgent situation requirements. In Delhi, there are various types of loans available for personal loans to vacation loans. However, using the right loan for suitable use is the key. The rate of interest for a car loan is higher than a home loan. Similarly, personal loan interest rates and charges are higher than a home loan. It is vital to examine the need for loan and accordingly apply for one. Here is the list of different types of loan available in Delhi and their benefits:

Home Loan:
This loan is provided by banks in order to pay money for a property/ home for personal use or for letting out. In Delhi many folks take the way of a home loan as it will assist in financing for big projects and will also offer tax benefits. Just like the folks paying a monthly rent for their space, the amount can be invested in buying a property while using it. Housing is a major investment that allows a family to cut down on much other expenditure.

The potential owner must first appear out for the family’s monthly income and then look out for a loan which is kind so that he need not use his entire life repaying the loan. The Home loan is made available to ensure people find it reasonably priced to buy homes anywhere in Delhi. The rate of interest and other charges are comparatively low and the government is encouraging individuals to make use of this loan alternative for investment.

There are many types of home loan in Delhi, which is used for a variety of purposes:

Home loan for Residents

Top-up loans

Land purchase loan

EMD loans – Loan for Earnest Money Deposits

Loan against Property

Home loan amount totally depends on the requirement; though there is limit is loan amount which is ranging from Rs.1 lac to Rs.50 lac, and this is calculated on applicant’s eligibility, repayment capacity and income.

This helps with capital approval; there is no qualm property prices have boomed in the past 5 years. Investment in home has been forever a safe and elegant move. The value of land always increases and thus appreciation for your investment can be visibly seen within a few years.

Personal Loan:
This type of loans is decided by banks to assist individuals to cover any emergency expenses. This can be used for medical assistance, wedding necessities, buying gadgets, air ticket booking for vacations and more. Some people make use of personal loans purely for emergency needs while others make use of this for extra shopping and luxuries causes. In simple, banks will not confine anyone for not using the money for investment purpose. However, it is not advisable to take personal loan for non-investments. Personal loan will revolve helpful only when there is return on the amount from the investment made and when the return is higher than the rate of interest paid for the loan.

Car Loan:
Just as the name states, this loan is made accessible to meet the monetary requirements in owning a car. As this is not measured as a basic requirement the rate of interest on car loans is high as compared to other types of loans. Car loans are typically secured, i.e. in case if the borrower fails to pay back the loan amount on the car, banks will take ownership of the asset. Essentially, lenders has every correct to recover back the approved loan amount by ceasing the vehicle in case if the borrower defaults to make payments.

Business Loan:
Loan approved purely for business purposes are considered as business loan. Those who are looking for business to start up their business can decide this type of loan. Even for working capital and additional funding for business this type of loan can be used.

There are two main types of interest- Fixed and floating rate of interest. In simple, it can be said that there is loan available in this country for any type of needs. But how much you earn will determine how much you can get. The place you live in will determine what should be your loan amount and EMI value. Living in expensive cities will attract more interest and charges. Bank will scrutinize every aspect of your income and expenditure to check what percentage of your income is available to repay the loan amount. For this they need your salary slips, bank statements, employer authentication and more. Make the most use of these types of loans available in Delhi in case of any needs.

10 Feb

When to funding Your Business with a Personal Loan

funding Your Business with a Personal Loan

Thousands of new and original ideas are being constructed into business ventures every year.
With the call for business development comes the requirement for finance. There are many business loan products accessible in the market today for small, medium and large businesses. But the business has to please many criteria to avail a business loan. Instead, for certain business needs, availing a personal would be an improved choice. But, under what conditions should you use a personal loan for business purposes? The answer to the question can be resulting from the following:

Documentation and Loan Amount:
Applying for personal loan involves minimum paperwork and can be done online. In case the loan amount required is small, you would not like to go throughout lengthy procedures to acquire a loan. Personal loan satisfy your instant cash necessities with least amount credentials.

Interest rates:
Interest rates for personal loan are much lesser than business loans. Banks also offer interest rates depending upon your relationship with them. Having an account with the bank from where you are taking a personal loan is an additional advantage. As an account holder, you are treated as a privilege customer, and additional consideration of interest rates is comprehensive to you.

Business loans also offer you with low-interest rates, but those are loans secured against your business assets.

Collateral:
Personal loans are unsecured loans. No collateral or security is to be provided for availing the loan. Therefore, if you obtain a personal loan, no charge on your personal assets is created. You can additionally take a loan against such property (assets) separately for vital business requirements. Some banks do give business loans with no collateral but those are in the form of Overdrafts and the interest rates are much higher.

Credit assessment:
In the case of startups or new businesses, almost, there will be no credit report or track record of the business. In such a circumstance, you can choose for a personal loan and take benefit of your personal credit ratings and track record.

Business not legally responsible:
Your business, being a separate legal entity, will not be affected by the personal loan transactions. The bank will not have any lien on your business assets to get well the personal loan, although you will be personally legally responsible for the payment of your personal loan.

A personal loan is an outstanding tool for short-term financing of your business. It ensures the smooth functioning of your business with no disturbing its financial structure.

09 Feb

Refinancing Loans – Significant Considerations

Finheal
Finheal
Tags: finheal, finheal.com, home loan, loan against property, loan tenure, loan transfer
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Are you completely happy and fulfilled with the recent loan that you have?

What is Refinancing?
Refinancing loans of any nature are an outstanding option available for smart borrowers. It typically means uneven an existing loan with a new one under different terms to decrease risks and enjoy more benefits. With this, borrowers can with no trouble improve the terms and interest rate of the loan.

Do you wish to improve your present loan? Do you find the interest too much or the benefits too less? Do you wish to enjoy more funds, but your principal bank isn’t really complying? Would your life become easier and simpler, should your loan tenure were to boost?

If yes, Refinancing or Balance Transfer Top-Up is the best answer available for you.

The Indian financial sector has witnessed a number of loan takeovers by diverse financial institutions. Various schemes are often rolled out by banks to entice clients with good repayment history. They offer better loan amount as well as a lower rate of interest and longer tenure to stand out in the competition.

If the idea of a loan transfer is making you curious now, then the following discussion would be significant for you Of course, it has to be a well considered decision as you don’t want to switch without knowing the complete picture.

Why Balance Transfer or Refinancing is a Good Option?
Although, there can be lots of reasons to choose for refinancing, we have compiled underneath some key cases wherein you might want to choose for it.

To get improved your existing debt for business growth or other personal reasons and your principal bank isn’t ready to provide the funds you need.
To reduce the existing and oftentimes longer tenures.
To significantly reduce the monthly EMI payments.
To enjoy a reduced rate of interest.
To consolidate expensive loans or debts into one.

Things to think Before Refinancing Your Existing Loans
Have a look at some vital tips that you must examine before transferring your existing loan to a different bank.

Calculate Benefits vs. Costs

It is not essential that you will forever benefit from refinancing. Carefully calculate the amount you will save by re-financing your existing loan.

Factor in the penalty plus service tax since you are closing your existing loan without completing the tenure.

Be careful of Heavy Mortgage Charges

You will require mortgaging your assets for refinancing as a security, particularly for home loans or Loan against Property. Although home loans are by defaulting exempted from exit penalties, you still need to issue in the new mortgage charges.

Identify the correct refinancing option with lower mortgage charges. In a healthy scenario, you should be able to recover the costs of switching loans within 2 years.

Rate of Interest

The Interest rate is the vital aspect to recognize and choose a better refinancing option.

It is sensible to choose for re-financing only if the difference between your current interest rate and refinancing interest rate is at least 0.75 – 1.00 %, as well enhancing the present debate. This is because many banks charge exit fee for terminating the existing loan, and in that case you may end up paying more than you gain by interest difference.

Tenure

If you want lesser tenure, decide a higher EMI refinancing option and if you need lower EMI payments, opt for higher loan tenure. This relation between tenure and EMI is always inversely proportional.

If you have a rise in your income and want to repay your loan sooner, but your existing bank is not approving on restriction the tenure, then refinancing may help you a great deal.

Evaluate Loan Amount

When opting for refinancing, know that only the outstanding principal is transferred. Hence, you need to evaluate the outstanding amount of loan and interest paid till now.

Refinancing loans can be fairly risky for those with bad credit history.

Refinancing can be availed on any loan type, including home loan, car loan, and LAP. If you have a brilliant credit history, you can with no trouble apply for refinancing or loan top up.

It is sensible to look at all factors previously to allowing for refinancing, and if you feel that it’s an improved deal in the long run, then go for it.

08 Feb

Eligibility and Criteria for Loan against Property in Ghaziabad

Are you setting up for your children’s big fat Indian style wedding ceremony? Want to send them to overseas for better tutoring? May be a long vacation to a dream destination with your family is the next thing in your TO DO List? Or you might be thinking of how you should get bigger, your small business to make it an enormous achievement. Is the worry of arranging such a huge quantity to make your dreams come true worrying you? If yes, then Loan against property (LAP) is the answer for all of your doubts.

It is a secured loan type which usually has a longer tenure and smaller interest rate than a personal loan. Anyone who owns a property (self-occupied or commercial), can apply for it. LAP applicant is given a certain particular percentage of the market value of property.

Generally there are a variety of parameters set by banks to apply for loan related products. However, there are certain eligibility criteria that are common for every customer who is applying for all LAP products. Below, we have enlisted some of these common criteria for your reference.

Eligibility Criteria for Loan against Property

The most important criterion necessary while applying for Loan against property is that the property should be a freehold and it has to be self-owned by the applicant.

Another very important common parameters are:

Who can apply for LAP?

To successfully apply for Loan against property or Overdraft loan, you need to be at most one of the following:

Salaried or Self Employed Entities
Salaried Corporate Employees or Salaried Government Employees
Salaried Consultants
Proprietors
Professionals (Doctor / MBA/ CA or other)
Private Limited Companies/ Directors/ Partnership Companies/ Partners (Minimum 51 % Shareholder or partner should be loan applicants)
HUF(Hindu Undivided Family)

Who have miserable chances of getting LAP?

Some applicants with even high collateral value are deprived of loan on various bases. Here’s counting who all are not entitled for securing a loan against property.
Salaried Individuals receiving salary in Cash or Kind only. Or other salaried individuals not receiving regular salary.
Self Employed with Negative Profile or those involved in High Risk Industries (Real Estate Developers / Small BPOs / Share Traders)
Self Employed organizations in net Losses
Politically exposed People

Documents Required to Apply for LAP

Below is the list of documents that are generally required to apply for LAP.

LAP application form
Passport size photograph(s)
Proof of Identity, date of birth, residence and applicant’s signature: Passport, driving license, voters ID, PAN card, ration card, telephone/electricity/water bills.
IT Returns / Computation Of income / Complete set of Audit reports or P&L AND Balance Sheet Duly attested by regular CA for last 3 years
Income proof: (Salaried) Bank account statement or salary slip for the last 3 months, and Form 16.
Business Continuity Proof (for last 3 years), latest VAT / excise / Service Tax Returns for last one year depending on the nature of business.
Bank Account Statements of last six months (may vary as per different bank’s requirements.)
Copy of property documents / papers to be mortgaged along with respective Sanction Map / Municipal taxes.

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Persnal Loans in Cities

Home Loans in Cities

Business Loans in Cities

Car Loans in Cities

LAP in Cities

Mutual Fund in Cities

Credit Card in Cities