LOANS

The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent.

In finance, a loan is the lending of money from one individual, organization or entity to another individual, organization or entity. A loan is a debt provided by an organization or individual to another entity at an interest rate, and evidenced by a promissory note which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time.

What must be designation to obtain the bank loan?

You must be working is software, Hardware and information technology area Must work in Government office Or else you must in private Ltd co. where PF & Salary slip facilities are there The business people can apply for loan with the last 3 years IT papers

What must be my minimum amount of salary?

Your minimum amount of salary must be Rs.8500/- and above it.

What will be my loan amount for my salary?

Salary Amount
Rs. 8,000/-
Rs.10,000/-
Rs.15,000/-
Rs.20,000/-
Rs.30,000/-
Loan Amount
3.3 lakh
5.0 lakh
7.5 lakh
10.0 lakh
15.0 lakh
Salary Amount
Rs. 40,000/-
Rs.50,000/-
Rs.75,000/-
Rs.1,00,000/-
Loan Amount
20.0 lakh
25.0 lakh
37.5 lakh
50.0 lakh

How many days will loan processing will go on?

The papers needed for the loan from your side, must be properly provided and after it within 5-7 days it will be completed.

What are the papers needed for the loan from our side?

  • Photo
  • Payslip with Attest By Employee for 3 months
  • Employer Letter
  • Form-16 / Appointment Letter
  • BankStatement for last 6 months
  • A Cheque Leaf for Proceesing Fee
  • Resume (Previous Employment details)
  • Identity Proof
  • Age Proof
  • Address Proof

Non-Resident Indian / PIO ?

  • Photo
  • Employment Contract / Appointment Letter
  • Overseas Bank statement for 6 Months
  • NRE / NRO Bank Statement for 6 Months
  • Resume
  • Visa Stamped on Passport
  • Latest Credit Burezu report
  • Continuous Discharge Certificate (CDC) for Applicants employed in the Merchant navy
  • Power Of Attorney
  • A Cheque Leaf for Processing Fees

How much will be the EMI for my loan amount of Rs.1,00,000/-?

If the loan is for 15 years. The EMI will be Rs.999/- of your amount of Rs.1,00,000/-. (Approximately).

What will be the interest for the loan now days?

Rate of interest will be 8.75% for the loan amount.

If part of the loan amount is paid in between whether interest amount will be reduced or not?

Yes, the interest amount will be reduced. According you pay the loan amount.

Whether the loan can be processed in the another Name than the property person name?

Yes, it can be done but the person must be working one.

If, I am in abroad and unable to come whether I can get loan amount?

Yes, this process can be done by the details about you through e-mail and get papers signed thoroughly carries.

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