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HOW CAN PERSONAL LOAN PROVIDE TAX EBENFITS

Personal Loan is just like a magical lamp for you which provide you with the instant financial requirement, to help you in need of sudden emergencies. They are unsecured loans, which mean you don’t have to give any security to the bank as collateral.

 Generally, personal loans are not taxable, as loans are not considered a part of your income when you are filing your IT returns. However, if you want to compute your taxes then make sure the personal loan should be from a valid bank. Hence, then you can claim the income tax benefits on personal loans. However, in order to avail them, there are some conditions attached to it.

Whether if you get the tax benefits or not will solely depend on the end use of the loan amount. If you have used your personal loan amount to acquire, construct, repair, or reconstruct a house or property, you can claim tax benefits, only if you can prove that you have used the loan for a valid expense, you can actually claim tax deductions on the interest paid on

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Apply for Personal Loan - Finance India Trust

Finance India Trust is a professional Delhi NCR based financial service agency that arranges funds through a personal loan at the lowest interest rates in quick hassle free manner. For Personal Loan, we cater to employees from MNCs, Government sector, Limited Companies, and Private Limited Companies. We cover different areas of Delhi NCR ( Gurgaon, Faridabad, Noida, Ghaziabad) with major markets of Nehru Place, Bhikajikama Place, Wazirpur Industrial Area, Sanjay Gandhi Transport Nagar, Netaji Subhash Place, Azaadpur, Model Town, Chandni Chowk, Sadar Bazaar, Manesar Industrial Area etc.

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Understanding Personal Loans Online

by JacarandaNZ1 month ago

What is a personal loan?

As the name implies, personal financings are a kind of debt that consumers secure for a range of personal factors. Unlike mortgages or auto loans, personal finances aren't set aside for a specific objective-- you might in theory obtain a personal car loan for any kind of factor you want.

Individual loans are installment finances; if you're approved, you'll get a lump sum of money up front, after that you'll be expected to settle it in fixed quantities on a monthly basis till the loan's term is up. Because personal car loans are unsafe, their rates of interest are normally greater than protected car loans. Nonetheless, their prices are usually less than a lot of credit cards.

Some typical factors for getting a personal loan are:

Combining or re-financing high-interest debtMaking a large acquisition (such as a device or digital tool).Taking a holiday.Making a house improvement.Funding a small company acquisition or expansion.Paying for a clinical treatment or

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Personal Loan For Travel

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There is not cheap today. Everything from real estate to cars is very expensive. So there is no other reason for a good vacation. A standard vacation trip on an alone Goa can easily reset you to INR 20,000. This kind of money may not be a problem for a well-settled man in his late thirties, but preparing for the same for young professionals can be an issue. In particular, you need to handle other expenses such as rent, food, transportation, etc. So, is not there a solution? In fact, there is.

I wonder if you can get a personal loan with a low CIBIL score. Although CIBIL scores are important, Zavron Finserv can help you in this situation if your overall application is sufficiently promising.

One of the biggest problems people face with traditional loans is high EMI. This problem has been resolved for Zavron Finserv's non-EMI borrowing. The subject, on the other hand, is unchanged and can be processed at your convenience at a later date. This kind of structure works well in all situa

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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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