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.

Availing a personal loan can help you build a strong credit profile with a history of timely repayment. Therefore, when you apply for higher loan amount in future such as home loan or business loan, lender will access your application instantly because you would have already established yourself as responsible borrower.

There may be several compelling reasons that may prompt you to “Apply For Personal Loan“ such as paying for a medical emergency, planning a dream vacation or even to consolidate your debts. Moreover, the open usage of this unsecured loan makes it popular financial product in the lending market.

In this article, we will look at different reasons that are driving more and more borrowers in country to take a personal loan with every passing year.

• Fulfill Personal Aspirations: Every person has a set of desires that they aim to fulfill in their lifetime. It could be something like buying a new laptop, adding a new room to your house or taking a holiday plan. This loan will help you meet all these expenses as majority of individuals live on fixed monthly incomes.

One doesn’t want to dip into their life’s savings to finance these purchases because he/she needs to think of their retirement age ensuring that their family is taken care of in their absence. Going the way of availing personal loan help you to make such aspirational expenses that one can pay back to the lender in easy EMIs.

• Consolidate Existing Debt: In some situations, a person misses his/her previous loan repayments and fell into a debt tap. Getting a personal loan to consolidate your debts helps you to manage such circumstances. It brings all your financial liabilities under single roof and instead of repaying multiple installments. One has to repay a single lender only.

Furthermore, a personal loan not only consolidate your debts but also add some benefits like boosting your credit rating as well as history which will in turn help you to secure higher credits in future.

• Start Your Business: In our country, young people are opting to go the entrepreneurial route these days and major challenge in setting up a new venture is funding for it. Not every has ample amount of saving to invest in business so this problem can be solved by opting a personal loan from ShubhBank at affordable rate of interest.

• Tackle unforeseen expenditures: In general, life is unpredictable so how much you prepare for it; you may come face to face with some instances where you may not be in situation to meet the financial expenses whether it is a household repair, car breakdown or other unplanned expenditure. In such situations, it is the best option to “Apply For Personal Loan Online“ to tide over it.

Hence, when you need a quick influx of funds, a personal loan is always a savior. Anyone can reach out to ShubhBank to avail a Personal loan or get in touch with us if they have any queries related to loan terms and conditions.

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.

Nowadays people have been availing the loans to fulfill their needs of funds. The loan procedure is same for every lender whether it is NBFCs or any bank; once you borrow the money then you have to return it with payable interest on the predefined time or in monthly installments.

However, the traditional loan and online loans serve the same purpose but with the emergence of internet and digital technology, everybody is blessed with the power to transact that lies at the fingertip of their hand. Getting a loan is same as buying a piece of cake these days. ShubhBank offers customized online personal loans for every purpose, be it buying any electrical appliance, gadget or going on a vacation or to bear wedding expenses etc.

One can “Apply For Personal Loan“ which can be utilized for any purpose. It is collateral free loan which saves you from pledging any of your personal assets to the lender. An online Personal Loan can be availed via our website ShubhBank.com without any physical visit to the branch and the entire procedure will be digital and paperless as compared to traditional loan process.

In this article, we will discuss the benefits of online Personal Loan as compared to traditional loan:

• Paperless Procedure: An online personal loan follows a seamless process that is paperless as well as digital which are done with a simple online loan application whereas conventional loans involve piles of papers. The online loans are perfect for the millennial generation who are always in tearing hurry.

• Instant Disbursal: However, a tradition loans may take a time of 1-2 weeks for disbursal whereas online loan can be credited to your bank account within 1-2 business days. Whether both serves your purpose but when you are in immediate need of funds then online Personal Loan can be a lifesaver for you.

• Easy Availability: One of the major drawbacks of traditional loans is that they can be availed only in working days or hours while online loans are available around the clock. Well, emergencies don’t come with prior notice, so online Personal Loan is a best option because they are available on weekends as well as on holidays.

• Minimal Documentation: Getting a tradition loan means collecting multiple documents to confirm your creditworthiness and identity to the lender whereas online Personal Loan asks for bare minimum documents that can be uploaded conveniently from your Smartphone. It will save both your time and legwork.

• Hassle free: The online loans are entirely hassling free as you don’t have to move from your recliner to complete the loan process. This is the comfort of using digital technology that you can “Apply For Personal Loan Online“ anytime anywhere to meet your requirements.

Hence, online Personal Loans prove to be a real savior in any financial emergency. One can pick a tailored made Personal Loan at competitive interest rates from ShubhBank to solve the shortage of funds in immediate situations. Get in touch with us and say goodbye to all of your financial worries and crisis.