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Banking

Credit Score

Credit Score

You must have heard the term ‘Credit Score’, before! But, are you aware of the term in detail and how is it helpful to you. What are the different factors, involved in the determination of CIBIL and who calculates it and other important factors are associated with CIBIL. The DealsofLoan brings the detailed information on CIBIL and help in the analysis of CIBIL.

Know the term ‘CIBIL’

Credit score or CIBIL is an acronym for Credit Information Bureau (India) Limited. Established in the year 2000, this CIBIL is a three digit number, which is an indicative of a person’s credibility. The CIBIL is an indicative number, which determines the credit behavior of a person and thus can be considered as the marking system by the financial institutions as given to you. The more is the score, the better it is for your credibility.

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SBI Gold Loan

SBI Gold Loan

The largest public sector bankers of India, ‘SBI’ bring the instant cash loan against gold ornaments for banks internal customers. Now SBI Gold Loan scheme is available for SBI’s existing customers & they can avail the instant loan upto maximum of Rs.10 lacs against the pledge to customers own gold ornaments and articles including packed & unpacked gold coins sold from the SBI. As SBI is one of the best bank who has adopted the latest technology and equipped system as per the current market requirement and from the help of IT support banks are able to provide the maximum reach to the customer and just because of the same bank has its strongest presence in rural and semi urban areas in across India. As per the market annual report, SBI has provided more than 1 lac gold loan for their existing customers.

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Gold Loan Scheme

Gold Loan Scheme
  • Get all the Gold Loan Scheme and Gold Loan related market important guidelines. We know very well about the Gold Loan scheme and offers in Indian market & actually it is most volatile precious metal on earth which is the most trustworthy and symbol of richness. So when we talk about market lending loan against Gold in India, we require to follow some specific parameters like income documents and PAN Card Copy for loan over 5 Lacs irrespective of CIBIL Score.
  • All Loans against the gold and any of renewals under the below mention current gold loan scheme having total exposure greater than equal to 1 LAC needs to be made through NEFT/ RTGS/ Cheque.
  • Apart from the new Gold Loan disbursal any of existing loan Interest payment received in principal due cases have to be accepted and needs to be part payment passed
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What is a Better Option for Startups? Personal Loan or Business Loan?

What is a Better Option for Startups? Personal Loan or Business Loan?

Need loan for your new startup? Confused whether to choose personal loan or business loan? The choice can differ based on the status of the business you’re working on. The answer is not a straightforward as different scenario speaks out different stories for the borrowers.

What is a Personal Loan?

personal loan is the loan which can be taken to meet requirements of any financial needs of an individual like marriage, vacation, medical expenses, bike purchase, etc. If you’re planning to start your own set up, you can opt for the personal loan. The rate of interest in the case of the personal loan is generally on the higher side and thus, one has to be well calculated for their expenses and income before finalizing a deal for personal loans.

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Banks Underwrite Mortgage Loan Process

Banks Underwrite Mortgage Loan Process

The federal government has given clear message to their bankers for be careful at the time of mortgage loan funding to their customers. Govt said it is the biggest reason for sub prime slow down in market. Financial institutes need to do hard underwriting in all loan applications and should avoid funding to all financially unhealthy customers. Banks should focus on small and medium ticket size funding against mortgage loan rather then doing big ticket size cases under loan against property or Home loans. Lenders should be very careful while funding property mortgage loan. Book size of bank will stuck when a little amount of account will default in paying their repayments. Balance transfer of any loan account is also very risky for the banks. NPA account should not be more then 1% of over all account of books.

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Property Mortgage Rates

Property Mortgage Rates

o understand how banks declare their interest rates, we need to know about the basic of lending cost, what is the current cost of funds. Normally lending cost as per market is approx 9% per annum and if we add some fix cost of lending then it will go up to 11% for non banking financial companies. But banks has large benefit of in house customers having huge current account base. The average minimum account balance is greater than Rs. 10,000 and it can go up to 10 lacs for some unique account. If we talk about average bank balance of current account base where bank do not need to give a single rupee against the minimum average balance maintenance. On the basis of this knowledge, we can say, bank has their own fund for lending without paying interest rates. So the average costs of interest rates are 10%, where there is negligible expense on funds distribution against the mortgage loan & Home Loan.

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Marriage Loans Market in India

Marriage Loans Market in India

Marriage is a life event, which is wonderfully celebrated in our Country. It is the event full of enjoyment, happiness and high emotions. Marriages in India are celebrated in a unique manner and entirely different from rest of the world. Being the biggest celebration of a person’s life, people always want to celebrate it at the highest level even it demands some financial aid.For covering up the cost of marriages, a Marriage loan come to the rescue for most of the people. A Marriage needs to be perfect and is a one time affair in most people’s life and thus it needs to be celebrated at the highest spirit. Wedding loans or Marriage loans allow people to celebrate this moment at the highest level. With the availability of several banks and lending agencies, there is no dearth of options available for the people who are looking for marriage loans.

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What is a Better Option for Startups? Personal Loan or Business Loan?

What is a Better Option for Startups? Personal Loan or Business Loan?

Need loan for your new startup? Confused whether to choose personal loan or business loan? The choice can differ based on the status of the business you’re working on. The answer is not a straightforward as different scenario speaks out different stories for the borrowers.

What is a Personal Loan?

personal loan is the loan which can be taken to meet requirements of any financial needs of an individual like marriage, vacation, medical expenses, bike purchase, etc. If you’re planning to start your own set up, you can opt for the personal loan. The rate of interest in the case of the personal loan is generally on the higher side and thus, one has to be well calculated for their expenses and income before finalizing a deal for personal loans.

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Personal Loan in Aurangabad at lowest rate of interest

Personal Loan in Aurangabad at lowest rate of interest

 We are here to help all our customers to get special offers from all the Banks/ NBFCs for quote on interest rates in many different ways (ex. monthly reducing rate, flat rate). Looking at the interest rate value alone might not give you a true picture of which personal loan quote is the best for you. You must check the EMI. The processing fee should also be considered when comparing loan quotes.      If you are in urgent need of Personal loan, just compare the average time taken by the banks to disburse a personal loan. Get Instant Personal Loan in Aurangabad.

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Instant Personal loan in Pune

Instant Personal loan in Pune

Pune City is the huge potential of banking branches & customers. Thousands of loans providers are available in Pune. Get all banks instant personal loan information on this platform. There are 5 to 6 types loan provider categories. They are PSU banks, private banks, Co-Operative banks, Non Banking Finance Company(NBFC), Pat Sanstha & the private lenders. We all know there are different types of borrowers category available in markets same time they get the financial services among themselves.

PSU Banks and Co-Operative banks are funding the loans with two individual loan guarantors for the loan approval. PSU banks don’t have interest rates offers of company category wise and the same policy is followed by co operative banks. Additionally co operative banks have some other blockages, they gets share amount deposited as security for providing any kind of financial services anywhere in Pune. Have a look at the best loan providers in the market.

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