A loan is a form of credit or called as savior that can help you to meet financial exigencies with several other benefits. People can use it for travel expenses, home renovation, wedding or buying their favorite gadgets etc. Loans have wide scope and the options for repayments are aplenty.

However, when you “APPLY FOR A LOAN“ the process seems to be overwhelming sometimes especially when you don’t know where to start and how to do it. In this blog post, we will guide you with some tips that how you can get the funds without any hassle. Have a look on such hacks:

✓ Understand the loan process: Every lending institution has own loan norms and process, so understanding that process as well as getting prepared beforehand will ensure you to access funds quickly. While extending you loan money, lender will check your employment status, salary slips and credit score etc. One can also check his/her eligibility through lender’s website or assistance through phone by loan representative.

✓ Understand the documentation: Once you apply for a loan, the financial institution will ask you for some basic documentation to verify your credit worthiness and financial status. To illustrate, if you apply for a loan at ShubhBank, a borrower needs to submit a copy of their identity such as Aadhar card or passport, a copy of PAN, latest bank statements and credit card details to set up an e-mandate.

If you have all these documents in hand, you can avail any kind of loan to fulfill your financial goals without any trouble.

✓ Start your loan planning early: It is the most helpful tip to get a loan which means if you have an emerging financial need then start researching for loan in time. Go online and compare different lenders and the interest rates offered by them to get a best deal for your financial requirements.

Get a look on all the aspects of loan such as required loan amount, repayment and the time it will take to pay back entire amount. Planning such things early can help you to get best fit for loan and avoid unnecessary stress.

✓ Plan your EMIs well: A good financial plan will help you to accommodate your monthly installments for the loan easily. One can also use a different bank account for their loan repayments to avoid any delays in the EMIs. An individual can also invest their money simultaneously and utilize such returns to repay the loan.

✓ Get a financial expert: Taking an advice from a financial expert will help you when you get stuck in any financial situation whether it is choosing a suitable loan product, repayment planning or understanding the impact of loan on your financial health etc.

Hence, you can get a loan easily by following such simple tips or hacks and there is no need to go out of your way. One can “APPLY FOR A LOAN ONLINE“ after a mere research, planning as well as dome expert advice. Keep these tips and tricks in mind to meet unforeseen expenses without any hassle.

Loans against gold have become very popular over the last few years. The gold loans offer several ways to repay the loans as compared to other secured loans. However, gold is not just a precious metal because some people take it as a financial investment. One can “Apply For Gold Loan“ by pledging their ornaments to the specific lender.

Gold loans are one of the convenient ways to arrange finances in the times of need such as medical emergencies, travel or study purposes and business goals etc. This yellow metal always comes as a savior in case of financial emergency or situation. Moreover, the interest rates upon gold loan are comparatively low than other traditional loans as it provides you an option for flexible repayment schemes.

In this blog post, we will discuss about the several ways to repay your loan against gold. Therefore, we jotted down some of super ways that you can follow to “Repay Your Gold Loan“.

• Periodic EMIs: Most of the borrowers prefer such method where they are required to pay the loan money from the month following disbursement month. It is a best option for salaried individuals who have regular cash flow. The monthly installment includes both principal and interest amount.

You can also pick an auto debit repayment which deducts from your bank account monthly. It also helps to reduce the liability of interest rate as the gold loan tenure progresses.

• Periodic interest: It is one of the most efficient ways to pay back the gold loan through periodic interest where both the principal and interest charges are kept separated from each other. One has to pay only the interest in EMI and total principal amount has to be paid on maturity.

This option is best for the individuals who don’t have enough monthly cash flow to be able to pay interest and principal money collectively. Borrowers should consult their lender bout interest amount and loan cost beforehand then select accordingly.

• Bullet repayments: In this method, borrower is required to pay principal and interest amount at the end of the loan term. During the loan term, you are neither required to repay principal money nor the interest rate. It is called as bullet repayment as you pay the entire amount at once at the end of your loan tenure.

• Partial payment: It is another method to repay the gold loan where borrower makes partial payments of interest and principal amount of gold loan as per their convenience. This method does not require you to follow the basic EMI system.

• Monthly interest in overdraft account: The repayment of gold loan is very easy through an overdraft account method. The overdraft accounts act as transactional account where people can pay the monthly rate of interest as per the account’s borrowing amount.

ShubhBank offers all these repayment options when you “Apply For Gold Loan Online“ or offline to fulfill your financial emergencies. To know more about the gold loan repayment methods, click at our website or visit our branch in tricity.

Getting your own dream house is one of the most precious moments in a person’s life. In our country, most aspiring homeowners do avail home loan for purchasing their homes. NBFCs like ShubhBank provide instant and hassle free home loans to eligible borrowers. If you are the one who is looking for some financial aid to purchase a home without hassle, there are few points that you can sort out at your end to get your loan approved.

In this blog post, we will guide you to follow these effective tips before you “APPLY FOR HOME LOAN“ to get it approved quickly.

✓ Improve your credit score: A borrower’s credit score is a key factor that indicates a loan applicant’s eligibility for availing a loan. The CIBIL score ranges from 300-900 and if someone has a good credit score of 750 or above, lending institutions will consider them a reliable borrower and approve their loan application promptly.

However, if your application is lacking in some aspect, you can still “AVAIL A HOME LOAN“ at attractive interest rates with an excellent credit score. More is the CIBIL score; the faster you will get loan approval.

✓ Do not have existing debts: Prior to apply a home loan, make sure that you have cleared all the existing loans as well as credit card dues. It will greatly help your loan eligibility as it will be a indication of your creditworthiness which can get you a quick approval.

✓ Apply with a co-applicant: If your credit score is weak or you don’t meet the eligibility criteria asked by the lender then you can improve your eligibility and speed up your loan approval with a co-applicant who already has a good credit history.

A co-applicant can be your spouse or any other family member who has regular income and can pledge to repay the loan in your steal will surely improve your eligibility for home loan and get you best deals on loan terms with instant approval.

✓ Know your loan terms: Being a responsible borrower, you need to be completely aware of your loans terms such a repayment period, interest rate, prepayment options, loan processing time along with loan terms and conditions before you “APPLY FOR HOME LOAN ONLINE“ or offline.

Make sure to go through the loan application carefully and understand all the process and sail through the loan terms and conditions as well as the repayment structure.

ShubhBank offers you online home loan in very easy steps where you have to fill out an online application form and upload all the required documents on our website. However, it’s easy to get a home loan but ensure yourself about the eligibility criteria before disclosing any relevant information. One can also use EMI calculator to know about the loan repayments and tenure.

We also provide doorstep service and with our dedicated team, one doesn’t have worry about documentation and loan processing. Get in touch with ShubhBank’s representative or visit our digital lending platform for further support and guidance about home loans.

Gold is a precious metal that has carried a high aspirational value in our country. However gold has always been an investment kind of thing but it’s also effective for securing a loan in times of need. Possessing gold has been marked up as symbol of prosperity in most of the households since time immemorial.

Moreover, many people in India have emotional attachment to the gold ornaments, coins and bars what they possess. Some of the people consider this precious metal as a security asset to “Apply For Gold Loan“ whenever they face a financial emergency or shortage of funds.

In this blog post, we have mentioned below some of the benefits for which you should consider availing a gold loan to support your financial situations or to face any emergency and urgent need of funds.

✓ Instant disbursal of loan: It is one of the biggest advantages of loan against gold that you will get instant loan money whenever there is urgency. The gold loan is disbursed quickly and it is an outstanding alternative to meet your financial requirements such as education fees, medical bills, business needs or any other specific end use.

✓ Affordable rate of interest: The most significant benefit associated with gold loan is that it is a secured loan as it requires your gold ornaments as collateral so it is offered on affordable rates of interest which will automatically reduce your debt burden.

✓ Big loan money: One can borrow a significant amount of loan money against your gold ornaments. ShubhBank offers a loan ranging from minimum of INR 10,000 and a maximum of up to INR 20 lakhs against your gold jewelry.

One can also use the loan eligibility calculator to get an idea about eligible loan money once they enter details such as loan tenure, number of gold ornaments, the weight of the ornaments and their quality details.

✓ Flexible repayment options: As compared to other secured loans, gold loans secure the most flexible repayment option. A borrower can generally allow choosing from any of the one option that suits his/her pocket. These options include bullet payments, part repayments, overdraft facility as well as flexi payments.

✓ Easy eligibility criteria: However a loan against gold is considered to be risk-free loan for the lenders so the eligibility criteria are very simple. Any person with gold ornaments, stable income and employment status can “Apply For Gold Loan Online“ or offline as per their choice.

✓ Fast and safe loan processing: Usually gold loans don’t have any complex documentation process. A potential loan seeker can just walk into the lending institution or get in touch at specific digital lending platform and submit KYC to avail a gold loan. Once you get approved, the loan amount is disbursed directly to your bank account within half an hour.

Hence, it’s high time to realize and unlock the potential of your gold ornaments. A gold loan can rescue you in times of emergency and you can redeem your gold after repaying the loan amount. To apply, visit ShubhBank or get in touch with us through our website.

Most of the people look for borrowing a loan during financial emergencies and can choose from a variety of lenders to do so. However, getting loan a loan can be a time consuming process time and detailed documentation but availing a Loan against Property from ShubhBank is an easier way out because of some of its advantages.

It is worth understanding that how this loan works before you “Apply For Loan against Property“ as you avail the credit in exchange of your property. Always keep in mind that the pledged property can be residential or commercial and a borrower can continue its ownership even after pledging it to lender until and unless he/she defaults on loan repayments.

A loan against property is always considered to be better option for property owners because it is cheaper than any unsecured loan and offers big chunk of money that can fulfill your all financial needs. However, LAP is a popular choice among borrowers but before availing such loan, one must consider three things prior to applying it.

In this blog post, we have mentioned those three things about loan against property in detail:

• Value of the Property: Your property is considered to be an asset and asked to be pledged as collateral in Loan against Property which means that the loan money offered by lender is directly based upon the valuation of your property.

In addition to that, a borrower must understand the value of their property before getting a mortgage loan, taking into account factors like their age, income, location as well as amenities.

• Compare interest rates and features offered by lenders: However, several lenders in the market offer Loan against Property with attractive rates, features and advantages and it may vary from one lender to lender. Being a potential borrower, one should research and compare various interest rates offered on LAP by different lenders before finalizing the one that fits you the best.

Moreover, it is good to check the required documentation for Loan against Property as well as for the online loan application. Furthermore, check if the lending institution provides quick loan processing and balance transfer as this can help you in making an informed decision.

• Time of repayment: Apart for the different interest rates offered by the lender on Loan against Property, it is crucial to consider your overall duration of loan repayment.

Any reputable lending institution will almost provide flexible tenure up to 15-20 years. A longer tenure means lower EMI payments where as a shorter tenure means large EMIs that repay the loan faster. Therefore, choose your loan tenure wisely.

Hence, taking out a Loan against Property is a great way to access the required funds being a property owner. It will not only allow you to get the large loan quantum but also get to keep your property in question. ShubhBank understand your loan concern and needs well, so you can “Apply For Loan against Property Online“ to get the best value and benefits with flexible repayment terms as well as with hidden charges.

Everybody wants to stay free of debt and when we get a chance we like to prepay our debts as soon as possible. However, foreclosing a home loan differs significantly from prepaying other secured loans. When you “Apply For Home Loan“ you going to get variety of benefits and prepayment option is also one of them.

A prepayment of home loan means when a borrower fully or partially repays loan before the end of loan tenure. Every lending institution charges a prepayment fee, so it is important to go through all loan terms and charges carefully before signing a loan agreement. The charges on prepayment are based upon the kind of interest rate and loan amount.

Most of the lending institutions do not impose a foreclosing charges on the loan applicant with variable interest rate where as they charge the borrowers with fixed rates. However, penalty is also based upon who owns the property which means if it comes to non individual versus individual, charges are imposed both on floating and fixed rates in non-individual ownership.

Prepaying a home loan has both pros and cons which we will discuss one by one in this blog post:

Pros of Prepaying a Home Loan

• Fewer instances of delayed EMI payments: As time flies, one has greater chances of increased financial obligations therefore prepaying a home loan excludes the need to dig out your savings to pay off your monthly installments. Hence, it is advisable to prepay your home loan partially or fully whenever you get an additional income or bonus.

• Reduced interest outflow: Prepaying a loan partially decreases your principal amount which in turn interest burden and EMIs. As all knows interest rates are highest during the initial stage of loan against home so it’s good to repay early to grab maximum benefits.

• Short loan tenure: During a prepayment, a borrower is given with the option of reducing an EMI or shortening home loan tenure by the lender. Now, it is up to borrower to opt out what they want to pursue.

Cons of Prepaying a Home Loan

• No tax benefits: It is one of the greatest benefits of Home Loan where you can get an opportunity to save money on taxes. As per Income Tax Act, 1961 a borrower can apply for tax rebates on repayment of the loan amount as well as interest payment but if you prepay your loan against home, you may miss the tax rebate on loan money.

• Reduced savings and other investments: Before making any prepayment, make sure that you have sufficient funds for achieving other financial goals and life uncertainties. One might also lose other investment benefits due to lack of savings.

Hence, it is good to reduce your debt burden but a strong aversion to your financial burden is not always prudent. Whether you “Apply For Home Loan Online“ or offline in future, never haste to prepay it and sacrifice your liquid funds on it. Always ensure yourself to have an emergency fund for immediate needs.