Going on a long drive in your own car is such an exuberant feeling, right? The feeling can’t even be described in words, it can only be felt. Having a car at your disposal eliminates the need to use public transport or private cabs. You no longer have to stand in the crowded metro or wait for your colleague to pick you up, when you have your own car.
So you must be saving some amount from your monthly income to buy a brand new car, right? After all, a certain amount of money has to be given to the dealer as down payment. With so many lenders in the market offering you a car loan, you are bound to get confused. Is the high interest interest rate forcing you to apply a brake on your car dreams? If yes, then you should not bother about it any longer. SBI car loan has been specially designed to meet the aspirations of people who wish to buy a car of their choice. Want to get more information about the product offered by SBI, read this article. I have given brief details about the different types of schemes offered under a SBI car loan. SBI New car loan scheme- Are you thinking of buying a stylish new car? If your answer is in affirmative, then you need to secure this loan as soon as possible from the bank. Anybody, whether a salaried individual or a self-employed individual or an individual engaged in any agricultural activity can avail this scheme from SBI. the age of the applicant should be between 21 to 65 years. You can purchase a passenger car or a multi-utility vehicle or even a sports-utility vehicle with this loan product. Salaried individuals are required to earn an annual income of at least ₹ 2.5 Lakhs if they wish to secure finance from the bank. For self-employed individuals and people engaged in agricultural activity, the net annual income should be at least ₹ 4 Lakhs. The applicants can add the income of the co-applicant in their net annual income. The interest rate for the same lies in the range of 9.20% to 9.25%. The processing charged is 0.50% of the loan amount along with the applicable service taxes. This amounts to a maximum of ₹ 9,100 and a minimum amount of ₹ 450. SBI Loyalty car loan scheme- If you want a scheme that can offer you 100% finance, then you should opt for this one. This scheme has been designed for SBI Home loan borrowers. Applicants falling in the age group of 21 to 65 years can apply for this loan product. Salaried employees of regular public sector undertakings, Central/State government and private companies, self-employed individuals, businessmen and people engaged in agricultural activities are eligible to obtain loan from the bank. Net annual income of both the applicant and co-applicant clubbed together should be at least ₹ 2 Lakhs. The repayment tenure for the same is seven years. The bank charges an interest rate between 9.10% to 9.15% for the same. The processing fee charged is 0.25% of the loan amount sanctioned plus the services taxes applicable. It can be a maximum of ₹ 4,500 and a minimum of ₹ 450. Certified Pre-owned car loan scheme- In case, you want to buy an old car or a second hand car, then this product has been tailor made for you. You just have to ensure that the already used car you are buying is not more than five years old. In order to be eligible for the loan, you should be an individual falling between the age group of 21 to 65 years. Salaried employees of regular public sector undertakings, Central/State government and private companies, self-employed individuals, businessmen and people engaged in agricultural activities can avail a loan from the bank. Net annual income of both the applicant and co-applicant clubbed together should be at least ₹ 2 Lakhs. The maximum tenure period for the scheme is five years. The interest rate for the same is 12.65% and the processing fee charged is 0.50% of the loan amount availed along with service taxes. It can be a maximum of ₹ 9,100 and a minimum of ₹ 450. Documents required to avail a SBI car loan: Completing the documentation work has to be the top priority of any interested loan applicant. Check out the required documents here-
Article Source: https://wishfin.blogspot.in/2017/02/sbi-car-loan-best-affordable-option-to_9.html
0 Comments
Want to give your daughter an exotic honeymoon trip? Need finance to sponsor your child’s IIT dreams? Want to give a new setting to your house? Do you wish to visit Dubai and enjoy a memorable vacation? If you have any of these wishes but have to neglect them due to the shortage of required funds, then I have a news which can bring the glow back to your face. HDFC personal loan has been specially designed to meet all your personal needs. HDFC bank, one of the well known private sector banks is always ready to give wings to the dreams of its customers. You can secure finance from the bank for your personal requirements up to Rs. 15 lakhs for a tenure of five years. Check out all the important information about the product offered by HDFC here- Eligibility criteria: In order to successfully avail a loan from the bank, the applicant has to meet the eligibility norms. It will be based on the loan requirement of the applicant, the income he earns each month and the profession he is part of.
After meeting the eligibility norms, the applicant has to ensure that he completes the documentation work imposed by HDFC bank. Check the documents required here- Identity Proof- photocopies of Voter ID Card/Driving License/Passport Residence Proof- photocopies of Telephone Bill/Ration Card/Passport/Rental Agreement/Electricity Bill Income Proof- Latest salary slip along with a salary certificate which is current dated with latest Form 16 Bank Statement of the previous three months or passbook statement of six months is needed Interest rate: The bank offers a personal loan to salaried employees at an interest rate between 15.75-20% for a period ranging up to 60 months i.e. 5 years. You are given flexible repayment options depending upon your profile. The interest for your loan is calculated on a monthly reducing balance method. Processing fees: The bank charges a processing fee up to 2.5% of the loan amount you secure from it. It can be a minimum of Rs. 1,000 and the maximum amount can go up to Rs. 25,000 for any salaried individual. In case you want to pre-pay your loan, I have to tell that prepayment of loan is not allowed before you complete 12 EMIs. Suppose you want to prepay the amount between 13 to 24 months, then the charge imposed on is going to be 4% of the principal amount which is outstanding. In case, you feel like prepaying between 25 to 36 months, the prepayment charge is 3 percent of the principal amount outstanding. The charge for any kind of prepayment above 36 months is two percent of the principal which is outstanding. HDFC Personal Loan EMI Calculator: One of the most important things you have to keep in mind, while taking a loan, is the amount of monthly EMIs you will have to pay. Availing the loan, without thinking twice about the installments can prove to be detrimental for you. You will end up disturbing your budget if you don’t pay heed to it. Calculating the EMI can turn out to be very confusing and complex. But you need not worry when HDFC Personal loan EMI calculator has been developed to give you instant details about your EMI. You have to do nothing but just enter your desired loan amount, interest rate plus the tenure. This will provide you with information relating to your monthly EMI, total interest you will have to pay and the total amount you will submit to the bank. Let’s take the help of an example to throw more emphasis on the same- Suppose Sushmita Gupta, a teacher wants to secure a personal loan for her daughter’s marriage. She approaches HDFC and avails a loan of Rs. 3 Lakhs at an interest rate of 15.80% for a tenure of five years. This is where the tool is going to exhibit its magic. Within seconds, the monthly EMI has been calculated. Sushmita will have to deposit an installment of Rs. 7,264 and the total interest payable is going to be Rs. 135,814. This means she will have to pay a total amount of Rs. 4,35,814 to the bank for taking a loan of Rs. 3 Lakhs within five years. Why wait and neglect your dreams? Go and avail best interest rates from HDFC and fulfill all your dreams. Article Source: http://www.artipot.com/articles/2051990/fulfill-all-your-wishes-with-hdfc-personal-loan.htm Human beings have many wishes which they eagerly wait to come true. You too must have some wishes, right? Whether it’s a long vacation to your favourite foreign location or a destination wedding or to provide your child the best education. Keeping this mind, State Bank of India has designed SBI Personal loan so that finance does not act as an obstacle in the path of your dreams. With its affordable EMIs and easy documentation work, the product has become one of the most popular amongst loan applicants. Both self-employed individuals and salaried employees can fulfil their desires by availing finance from the bank. To gain more knowledge about the product, have a key look at this article. Types Of SBI Personal Loan:
Xpress Credit Loan- If you require funds that can be available at your disposal whenever you need then this scheme is perfect for you. Whether it is an all of a sudden vacation or a medical emergency in your family, Xpress Credit loan is there to fulfil your needs. You are not required to furnish any kind of security. Loan Amount: An applicant can secure a minimum loan amount of ₹24,000 and the maximum amount that can be taken is ₹ 15 Lakhs. Eligibility Criteria: Following are the eligibility norms imposed by SBI. Check them out-
Documents needed: Check out the list of documents needed to avail a loan here-
Repayment Tenure: The minimum tenure period is six months and it goes up to a period of five years i.e. 60 months. Interest rate and processing fees: The personal loan interest rate is charged on a daily reducing balance by the bank and lies in the range of 12.90% to 14.90%. The bank also charges a processing fee up to 1% of the loan amount sanctioned along with the service taxes. No penal interest is charged on loans up to ₹ 25,000. SBI Pension Loan: This scheme has been specially designed for the State or Defence or Central pensioner who is drawing his/her pension through a SBI branch. The loan can be availed for any sort of personal requirement. Loan Amount:
Repayment Tenure:
SBI Personal Loan EMI Calculator: It is essential to keep a check on the amount of EMIs you will have to pay to the bank for repaying your loan. SBI Personal Loan EMI Calculator is the perfect tool when it comes to calculating your monthly installments. You have to enter the details like the desired loan amount, rate of interest and tenure. After that, you will receive information about your EMI and total interest payable. This will allow you to design your monthly budget accordingly as you can keep the EMI out of your income each month. Article Source: https://wishfin.blogspot.in/2017/02/open-door-of-your-dreams-with-sbi.html Do you want to get rid of the stacks of cash from your wallet? Are you worried about the theft of the money? Do you want the mode of your payment to be safe and secure? The answer to all your problem is to get a credit card for yourself. The credit cards are one of the popular financial product that is equally necessary in the modern world. With the change in our buying habits the products the mode of payments is also evolving. The use of plastic money is gaining the popularity and the orthodox method of using the cash for payment purpose is an obsolete method.
The credit card is found in the rectangular shape made out of plastic material. It can be used to pay anything and anywhere. there are different types of credit cards that are offered by the credit card company and you can avail any card based on the reason for which you want the credit card. Benefits of credit card:
The valid and legal documents are required by the credit card company at the time of application. The documents asked by them is mentioned below:
Most of the people aspire to live in the dream home but wait for the right time when they’ll be in a position to buy one with the wealth accumulated in the lifetime. Throughout the life, they save money in hope that one day they will own a house. But by the time they accumulate the amount, the economic condition change and prices soar. Which in turn results in further postponing the plans of moving into a self-owned home. Mind it, whenever you get a home of your choice just book it and the finance could be arranged easily by taking a home loan. There are number of banking and financial institutions that can assist you buying your dream home. But before choosing the financiers compare the housing loan interest rates charged by them. This will help you get the best deals and reduce the burden of repayment.
It is always advisable that the borrower must check the lending rates of various banks and housing companies before availing a credit facility. It is only after going through the rates and other product features that the borrower must select the lender and apply for the loan. The borrower must even calculate the repayment amount as this will help him plan the future expenses and save him from defaulting. The borrower can calculate the repayment amount by using the fixed deposit calculator. In the further article, the housing loan interest rates of various banks and the method of calculating interest is discussed. Home Loan Interest Rates Offered by Various Banks: The housing loan interest rates of various banks are as follows: State Bank of India- The State Bank of India offers home loans at an attractive rate of interest. It charges interest at both fixed and floating rates. The fixed rate of interest on the loan amount up to ₹ 30 Lacs for first 2 years for women borrowers is 8.50% p.a. and for others, it is 8.55% p.a. While the floating rate of interest is as follows:
These were the rates offered by some of the banking institutes. But now it is important to know how are these rates determined or what are the factors that affect the interest rates. The factors that contribute to the determination of housing loan interest rate are mentioned below: Factors Affecting Home Loan Interest Rate: Income- The income of the applicant is the major factor that helps in deciding the loan eligibility and the rate of interest. The salary or the revenue earned by the applicant during a financial year is a major concern of all the lenders. The applicants with high income get loans at an attractive rate of interest. Credit History- Another important factor that helps in deciding the lending rate is the credit history of the applicant. The applicant having clear records and good credit score are likely to get a loan at pleasing rates. Location of Property- Unlike other loans, in a home loan the location and the surroundings of property make much of a difference. Even the name of builder/agency you are purchasing home from impacts the eligibility and rate of interest. So, it is advisable to buy a house from the trusted builders. Value of Property - The value of property too affects the housing loan interest rates. Looking for a way that can help you increase your savings without working hard or taking a risk? An investment that can yield regular income and high interest at the end? Yes, an investment in fixed deposit makes all this possible. It is a way that helps the people to earn specified returns on the deposits made for a predetermined period of time. In short, Fixed deposits also known as term deposits are the investment plans in which the depositor pre-set the date of account expiration and receive the deposited amount along with the accumulated interest on the date of maturity. It is a better option of saving rather than depositing the money in the savings account. This is because the interest paid on term deposits is more than the interest paid on the savings account. It is also a better option because of the following advantages:
Features & Benefits of Fixed Deposit:
Now that you are familiar with the features and benefits of FD, it is likely that you would have developed an interest in investment in it. For this, you must check the eligibility criteria. Fixed Deposit Eligibility Criteria: There are no rigid criteria to open an FD account. All Indian residents belonging to the mentioned constitution can book an FD -
After checking the eligibility you need to apply for it. The application can be filed either online at the particular bank’s website or at the branch office. For availing the FD facility you need to fill an application form that comprises of the following sections: Fixed Deposit Application Form: The following fields are to be necessarily filled:
Along with the application form, the customer has to attach some documents according to the constitution he/she belongs to. The list of documents to be presented at the time of opening an account are as follows: 1. An Individual, Hindu Undivided Family, Sole Proprietorship Concern-
3. Associations/ Clubs
You can even compare the returns offered on the term investment made for the various period by using the FD calculator. It is an online device designed to calculate the maturity amount of the deposit. It computes the amount of interest accumulated on the investment at the rate prevalent on that tenure. The user just needs to enter the amount deposited, tenure and the rate of interest in the calculator. After processing the information it will tell the amount of interest accrued and the expiration value of the plan. Article Source: http://wishfinblogs.kinja.com/fixed-deposit-a-risk-free-investment-that-yields-bett-1792073688 |
ArchivesCategories
All
|