Nowadays, inflation has affected most of the people financially which is too difficult to handle without any monetary aid. It can be resolved either by borrowing from friends or relatives or availing different loan products from financial institutions as per your requirements. There are various lending institutions that offer several types of secured and unsecured loans as per borrower’s need.

As far as you are concerned about the security of loan, you can apply for Loan against Property as you could access this financial product on residential as well as commercial property. One can also get the benefits of online loan against property from the comfort of your personal space. You can avail this loan at ShubhBank by submitting the required documents to complete the application process.

Before you “Apply For Loan against property“ and submit all the required documents, consider some of the essentials that you can’t avoid for LAP:

→ Valuation of the Property: We have already mentioned that different type of residential and commercial properties can be mortgaged with the lender to avail Loan against Property. Remember, lender will evaluate the value of property to be pledged based upon the current market price.

A lender will sanction you the loan money up to 70% of the current value of the property upon the submission of needed documents. However, the valuation of property may differ from one lender to other.

→ Interest rate: The interest rate on Loan against Property is much lesser as compared to other secured and unsecured loans, so it’s better to do a market research of lenders and compare the proposed interest rates offered by different institutions. Moreover, various lending institutions charge different interest rates, so don’t rush for availing a quick loan.

→ Loan repayment tenure: Generally, the lenders provide longer duration to the borrowers for the repayment of Loan against Property. Sometimes, the loan tenure differs from one lender to other but being a responsible borrower; one has to maintain a balance between repayment period and monthly installments. The longer tenure will result in shorter EMIs ultimately reducing your loan burden.

→ Processing fees: Every lending institution charge the processing fees according to their lending norms which usually ranges from 0.5 to 2% of total loan amount. Therefore, it can’t be assumed solely based upon rates of interest. It is better to consider processing fees beforehand while availing a Loan against Property.

→ Ownership of the Property: The ownership of the property whether it’s residential or commercial should be clear. If you have disputed title of property in your name or incomplete documents then your loan application will get rejected. In case, you have a joint property then the consent of all the owners is must for getting a Loan against Property.

Hence, it is good to “Apply For Loan against property Online“ or offline to cater all your financial needs but try to choose a lender who offers the best loan deal that suits your needs. ShubhBank strives to understand the borrower’s requirements and offer best value and benefits on Loans against Property.

In our country, there are countless people who often dream of owning a home but only an army of people can turn this dream into reality due to soaring land prices. However, the rising popularity of home loans has turned many individuals towards availing such amazing financing alternative.

Well, it is not like a piece of cake to “Apply For Home Loan“ these days. There are several lending institutions such as ShubhBank who offers best home loans but every lender has a unique set of eligibility criteria which a borrower has to fulfill. In case, you don’t meet such criteria then you need to sharp your loan eligibility to qualify the home loan.

In this article, we will guide you through different ways to boost your home loan eligibility:

✓ Opt for longer tenure: Loan tenure plays a vital role in determining your eligibility for home loan because longer repayment period leads to smaller EMIs. It will be easier to repay the smaller debts as they don’t put strain on your finances. A longer tenure provides you repayment flexibility to stay within your budget as well as offers additional tax benefits.

✓ Clear all your debts: Every lender is cautious of lending to a borrower with existing debts as multiple borrowing will risk your repayment capacity for paying dues in future. Therefore, make sure to pay all your existing debts before availing a home loan because clearing all your dues makes you credible borrower to access a home loan with ease.

✓ Improve your credit history: A good credit history can be a key to unlock a home loan with low interest rate. Your credit rating is based upon various factors such as debt repayment history, transaction in older accounts and outstanding dues.

If you have a poor credit history then there will higher chances of getting a rejection on home loan. So, clear all your previous loan defaults and improve your credit rating to avoid any rejection.

✓ Mention all your income sources: It’s a need of an hour to declare all your income sources while applying for home loan.

Many borrowers believe that lender only look for primary source of income but more you provide the sources of income to lender, more will be the chances to get approval on your home loan application. Moreover, having additional source of income will also help you to acquire higher loan amount.

✓ High down-payment: The LTV ratio for home loan provided by any lender is up to 80% of the total market price of property but the entire percentage of loan money depends upon your credit worthiness. When you “Apply For Home Loan Online“ or offline, try to increase your down payment as it will directly increase your home loan eligibility lowering a credit risk for lender.

Hence, the loan approval on home loan completely depends upon your repayment capacity. If the lender is confident about your credit worthiness then the loan amount is disbursed quickly to your bank account. At the end, we can say that by following above mentioned ways, you will surely boost your eligibility for home loan.

Sometimes, we may not get chance to fulfill our desires and forced to put your aspirations aside due to hectic schedule and financial restrictions. Desires don’t go away as you might have always wanted to purchase a new bike or gadget or wanted to take your family on a dream vacation but may not fulfill them. On contrary, you require instant funds to face any emergency where you are left with an only option, borrowing funds.

In such situation, Personal Loans come to your rescue which is obtained for a variety of purposes such as paying medical bills at hospital, planning a destination wedding or renovating your home etc. However, most of individuals might be hesitant to “Apply For Personal Loan“ but there is a list of factors which make it a viable borrowing option. Let’s read out such beneficial factors to you to decide on taking out a Personal Loan.

✓ Online process: Nowadays, one doesn’t need to visit any lender as he/she can apply for Personal Loan online from the convenience of your personal space. To verify your legitimacy, you just need to submit soft copies of KYC documents online.

ShubhBank has made the loan procedure more simplified and easy these days with doorstep documentation services. We value our customers and provide customer support to answer their queries and to finish the loan application quickly and correctly. One can complete the loan application process along with required documentation just under 30 minutes.

✓ Flexible repayment: The repayment for personal loans are flexible and designed to meet variety of purposes like home renovations, weddings, travel as well as medical emergency expenses. ShubhBank provides you the customized personal loan based upon interest rate, repayment structure and tenure.

Moreover, the interest rate upon loan varies depending upon the various factors such as principal amount, repayment duration and evaluation of borrower’s credit history. Therefore, loan is tailored just for you to fulfill all your desires and goals. So pick a loan tenure that enables you to customize your monthly outgo according to your necessities.

✓ Minimal documentation: Availing a loan was a tedious process in past days because of onerous qualification standards and paperwork requirements. However, ShubhBank offers you fully digital lending process where you can upload basic documents to get approval on your loan without experiencing any hassles.

We also provide a doorstep service for documentation collection so a borrower can expect a quick approval and smooth disbursal as well.

✓ No collateral: Personal Loans fall under the category of unsecured loans and you need not require putting any kind of personal asset as collateral in the event of non-payment of debts. You can “Apply For Personal Loan Online“ just with a good credit history and can fulfill your every desire, need, ambition or dreams with instant funds.

Hence, one of the most convenient and popular types of financial product available in recent times is Personal Loan. We have already stated some of the benefits of such loan which makes it a viable borrowing option that suits your budget easily.

Nowadays, inflation has caused a huge disruption in the country’s economy where many individuals have lost their job and businesses suffered losses and exhausted all their surplus capital, therefore in need of funds to take care of various needs as well as to cater the emergencies. Most of them are opting for unsecured loans which are not a great option as it comes with high rate of interest.

However, secured loans refer to borrowing funds by pledging any of your personal assets which has a benefit of low interest rate. An individual can “Apply For Gold Loan“ as it is the most stable and easy option rather than selling your gold to fulfill your needs. Taking a gold loan can address your short- term monetary needs and gain ownership of your possession when your financial situation gets better.

Let us explore the benefits of gold loan that how it is beneficial than selling it to address the current economic situation:

√ Available at doorstep: Selling gold is not an easy task as you need to search for reliable buyer who will pay you appropriate price. On contrary, getting a gold loan is simple as ShubhBank provides gold loan at your doorstep.

Once you apply for gold loan, a loan officer visits your place to check the quantity and quality of gold. Based upon such evaluations, your loan gets approved and once it gets approved the loan money is transferred to your bank account within 30 minutes.

√ High LTV: It is one of the major benefits of availing a gold loan because you receive high loan to value ratio against the pledged asset. Moreover, it offers you a financial freedom as you can utilize such high loan quantum to pay different pending expenses.

√ Safety features: Selling your ornaments could be your last resort, even pledging it as collateral could give you anxiety because of its security aspect. Now, you need not to worry about these security concerns as most of the lenders offer a robust security system ensuring the gold retrieved from your doorstep is deposited in a secured locker.

√ Competitive rates and flexible repayment options: The rate of interest on gold loan is on lower side as compared to other loans which makes it a reasonable option rather than selling your gold. Furthermore, repayment of gold loan can be done conveniently as borrowers can either pay interest every month or can make bullet payments to reduce the overall amount owed.

√ Nominal documentation: Loan against gold doesn’t require any heavy documentation as compared to other types of secured loans. One just needs to provide KYC details to complete the registration process and “Apply For Gold Loan Online“.

Hence, availing a gold loan through ShubhBank can provide you instant relief while maintaining ownership over your possession. We have proposed several benefits of getting a loan against gold rather than selling it. So, if you want to get a quick gold loan or need to understand more about these features, ShubhBank is one stop solution for all such queries related to gold loan.

Loan against property is a financial tool offered by lender to provide funds to a borrower in exchange for property as collateral. Every financial institution will lend you money on the condition of pledging your property till the repayment of the entire loan amount. Additionally, lender keeps the original documents of pledged property until the borrower repays the whole amount.

When you “APPLY FOR LOAN AGAINST PROPERTY“ and pledge your property to the lender, then the institution has right to use your property for auction in case of non-repayment. However, there is some risk but there are several financial benefits associated with this loan. Here, we will list the benefits of Loan against Property that will help you to figure out if it’s ideal choice for you.

→ High loan amount: It is numbered as top benefits of mortgage loan that you can get a high loan sanction amount. However, the loan amount depends upon the market value of the property to be pledged. Most of the lenders offer 75-80% of the market value of pledged property for the entire loan tenure. Moreover, the sanction amount is decided according to loan to value ratio.

→ Competitive rate of interest: Being a secured loan, the lender has surety that they have borrower’s property as backup in case of any default. Therefore, lending institutions offer Loan against Property at reasonable rates of interest as compared to other unsecured loans. Usually, the interest rate varies from one lender to other.

An affordable interest rate ensures the borrower to enjoy the benefits of loan against property and eases the financial burden of paying huge EMIs every month.

→ Minimal foreclosure charges: It is one of the core benefits of mortgage loan where you can enjoy the minimal to nil foreclosure charges. However, the financial institutions levy 2-4% of outstanding principal amount for the early repayment or closing the loan before its tenure but in case of Loan against Property, most of the lenders do not charge any fees or ask for nominal percentage.

So, it is advisable to ask your lender before you “APPLY FOR LOAN AGAINST PROPERTY ONLINE“ or offline if there is any charge payable or any hidden fees regarding foreclosing a loan.

→ Tax benefits: This is another benefit of a loan against property where you can also get the tax benefits by accessing the loan. A salaried employee can claim the tax benefits on the payable interest under the Sec 24 of the Income Tax Act 1961. The tax advantages don’t levy upon the principal amount.

Hence, now you are aware of the several financial benefits of Loan against Property but always do a proper research about the lender’s credentials because you are going to be in relationship with your lender for a long term. Always go for the reputed lender whom you can trust easily as you are pledging your valued asset with them.

Get a Loan against property from ShubhBank as we always go extra mile in providing your desired loan amount at competitive interest rates with no hidden charges to make your loan journey easy.

If you are the one who is struggling with loan repayments in such inflation then you must be aware of the fact that you are not the one only. There are number of people who are struggling with the same thing at same point. Buying a dream home requires huge funds, for which you can “Apply For Home Loan“ but one has to repay the loan along with interest rate in fixed period.

Generally, there are two main factors such as rate of interest and repayment period that affect the home loan because these are the factors that determine your EMI which you are supposed to repay the loan. One can work on both the factors to cut down the loan repayment to shed the loan burden in less time.

Therefore, in this blog post we will go through some of very useful points that would help you to cut down your interest on your current home loan:

→ Higher down payment: Higher payments have many benefits so you must plan well before availing a home loan. When you have sufficient funds to make high down payments then it will surely reduce your loan amount that would lead to lower rates and small EMI amount.

Making a higher down payment will increase the chances of your loan approval but you must be careful not to stretch your finances too far as it is necessary to have some savings to face emergencies in future.

→ Pay additional installment: Yes, you heard it right that paying an additional EMI will not only cut down your interest rate but also helps you to repay the earlier than the tenure. You can pay extra installment whenever you get promotion in your office or you get an incentive or bonus. It might be a small amount but it will surely make a big difference by reducing your loan tenure as well as levied interest rate.

→ Prepay your loan: One can opt the prepay facility in which one can deposit some additional amount along with monthly installment to reduce the total loan amount as well as decrease your repayment period. Nowadays, most of the lenders do not charge any foreclosure fee or penalty on the prepayments towards home loan.

→ Avail balance transfers: This option is now available at every lending platform these days. Many individuals are not aware about this facility but it’s really useful to reduce the interest payments. The option of balance transfer let you switch over to another lender who offers you lower rate of interest.

However, to avail this service you have to pay the fees to both the existing as well as new lender. Before doing so, one must conduct a proper research and compare the interest rates charged by different lenders.

Hence, there is no denying fact that it is very exciting to purchase and construct your dream house and you can “Apply For Home Loan Online“ or offline to fulfill your desire. Sometimes, loan repayments towards home loan can prove to be difficult but following such tips would make you able to handle them easily.