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HOW PERSONAL LOAN FAVORED OPTION DURING UNCERTAIN TIMES?

Posted on Monday March 8th, 2021

Few times, we all have encountered a situation where a sudden expense popped up when you didn’t expect it. We have all been caught to suffer from some uncertain expenses at some point in our lives. In such situation, the first thing that comes to our mind is a loan that could be secured at the lowest possible rate of interest.

Nowadays, personal loan is an unsecured type of loan which makes it more attractive to avail as you do not have to pledge any asset as a security against the loan. Therefore, any individual with good credit score can Apply For Personal Loan. Most of the lenders in the market offer personal loan at smart interest rates and borrower friendly terms. Likewise, ShubhBank provides a seamless experience to the potential borrowers of budget friendly personal loan keeping in mind the monthly cash flow.

In this article, we will spotlight some reasons why you must secure a personal loan to overcome the financial shortfalls of your life.

Minimal documentation: ShubhBank demands very small set of documents in order to process your loan application. Even you do not have to fall for manual submission of the documents as we offer you the online service to upload your documents. We just require basic KYC documents such as identity proof, last 6 months salary slip, bank statements as well as address proof.

Flexible repayments: When you are done with all the requirements that lender has asked you to process the loan application, then the sales executive customizes the loan scheme that best fit your profile. It will help you to fulfill your financial requirements without the load of heavy monthly installments as we offer flexible repayment options for you.

Online accessibility: You can also Apply For Personal Loan Online from the comfort of your space, these days. All you required to do is to visit our website ShubhBank.com and fill out the loan application form. Our loan executives will customize offers that will best suit your financial profile. One you get approved for loan, then the loan money will be disbursed directly to your bank account.

Quick approval: Once you complete the entire documentation along with application form, then the lending institution will carry out a basic verification process. After the verification, the lender will disburse the loan quantum to your account within few business days.

Multi-purpose usage: You can use this unsecured type of loan in case of an uncertain financial need or other long term requirements. You can fund either medical or wedding expenses, home improvement projects, travel expenses etc. with the disbursed loan amount.

Transparency: We have transparent loan processing right from the approval to the disbursal of loan. We work as per the loan agreement signed between us and the applicant. There are no hidden charges or loan terms that would arise out in later stages of your loan journey.

A personal loan from ShubhBank is pocket friendly and easily available and we also provide customer eccentric support to guide you through the whole loan process making a stress free experience for you.


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WHAT ARE THE STAGES OF PERSONAL LOAN PROCESSING?

Posted on Wednesday February 3rd, 2021

Sometimes situations may arrive when your savings are not enough to cover your emergencies because spending all your savings in a single time is not a wise idea as it increases your potential financial risks in the long run and left you with no financial security to cover you back. There might be a solution for such situation where money is needed urgently apart from your monthly budget. In such case, borrowing will be the only solution left for you but what makes sense is choosing a right lender and perfect type of loan which has easy processing with simple terms. Personal Loan is such a financial tool where you get access to funds without pledging any security at budget-friendly interest rates.

With the revolution in technology with the lending sector, you can now secure a Personal Loan in much easier way. You can easily take a personal loan by visiting the websites of online lenders like ShubhBank or you can also pay a visit for offline loan. To apply for the loan, you just need to fill the loan application form by providing basic information what may lender ask you for. The online processing is fast and your loan gets approved in a shortest possible time. There are few stages of personal loan processing which we have listed below:

→ Loan Application: To start a loan processing, you have to fill a loan application form which can be found easily on the online platform of various lenders. The application form should be duly filled with all the genuine information. The form includes the section to provide your personal details such as name, address, age, employer with whom you are working and contact details such as email address or phone number.

→ Submission of documents: Once you complete the loan application form, lending institution will take the loan process ahead and will ask for the KYC documents to get submitted. A lender needs these documents of loan borrower to determine and verify the identity, age and income. These documents include Identity proof, residence proof, income proof etc.

→ Document verification: The verification process starts once you submit all your required documents with loan application form to the lender. Firstly, the lender will check the credit score when you Apply For Personal Loan and if you meet the criteria, the lender will move ahead to verify your provided documents. The primary verification includes your identity and address that you have filled in application form, then your income details are verified by cross checking with your employer or bank details. When lender finds your documents correct and you meet the eligibility criteria, you will be approved for loan.

→ Disbursal: Here, the lender drafts a loan agreement for you. It may include loan terms and conditions, the interest rate and tenure for which you are getting approved. If you are satisfied with all the terms and conditions, you need to sign the loan agreement. After that the loan money will get disbursed directly to your bank account. It is always advised to go through the terms and conditions carefully in the agreement before signing it.


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WHAT SMART WAYS TO ADOPT TO REDUCE LOAN BURDEN?

Posted on Friday January 15th, 2021

Loans are the credit tools that are capable of helping you in your tough financial times. It might be a personal loan that can be availed for multipurpose usage or a home loan that funds your home purchase but these helping tools have to be repaid, that’s too with accumulated interest rates, nowadays, availing a loan has become quite easy with the online availability, you just need to fill the Online Loan Application Form submit the required documents and have to fulfill the set of eligibility criteria of the particular lender and its approved. Once the loan money gets disbursed into your account, the repayment process starts including paying off the EMIs. If you have availed a loan by evaluating your income then you can be relaxed but if it is not analyzed properly then it can cause a serious trouble to you later.

Life is uncertain and throws up surprises sometimes at you which may hit your finances. Therefore, here are the smart ways to reduce the loan burden to make you feel stress-free.

→ Be in your budget: Whenever you think about managing your finances well, you have to start with a monthly budget. It gives you an idea of how much your expenditures are and teach you to live within your pocket. To make a budget, start with making a list of money you spend in previous month and after analyzing it, create a budget for the next month. Cut all the unnecessary expenses which will make you to save much more at the month end.

→ Grab the tax benefits: It is not necessary that all loans will bring you the tax benefits but the home loans do so. If you have decided to repay a housing loan which gives tax benefits, one must do a cost benefit post-tax evaluation. Instead of clearing such loans, you should focus on those loans which have higher rate of interest and do not offer tax benefits. Few times, it may be good to retain a loan which offers tax benefits.

→ Go for an affordable EMI: Securing a loan can be an easy game for many as they get quick access to the needed funds but it can be tough to repay it as you need to pay much more than the principal amount along with interest. So, to keep the loan journey easy, always Apply For Loan amount that can be affordable without hitting your monthly budget. Take the help of online EMI calculators to know your monthly installments in advance. A shorter tenure of loan can increase your EMI burden. Hence, try to calculate your repayment capacity and affordability before choosing your loan EMI amount.

→ Increase repayment with hike in income: To bump up the EMI with rising income is one of the easiest ways to reduce the loan burden. It will not only help to repay your loan faster but will also make you stress free. Increasing the EMI will end your loan sooner making you enable to focus on the other financial goals.

These are the some ways which should be followed by everyone and will help you to get rid of your loan burden faster.


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HOW PERSONAL LOAN IS FAVOURED OPTION DURING FINANCIAL CRUNCH?

Posted on Thursday December 3rd, 2020

Life is full of uncertainty; therefore, you don’t have idea when a sudden expense will pop up when you are not expecting it. In our lives, we have all been caught off guard by some uncertain expenses at some point. Those times, the only remedy to this crisis is borrowing that could be easily secured at the lowest possible interest rate. Personal Loan is an unsecured type of debt making it more feasible to avail without pledging any asset as collateral against it.

Any individual with the ability to repay it can avail a personal loan. There are numerous lenders in the market who offer personal loan at smart interest rates and borrowing friendly terms. Likewise, ShubhBank’s Personal loan is fueled with flexibility and convenience. Our goal is to provide a seamless experience to customers and budget friendly loans keeping in mind the monthly cash flow cycles. Here in this article, we will spotlight the reasons why one must avail a personal loan with ShubhBank.

⇒ Online accessibility: You can easily avail a personal loan from ShubhBank from the comfort of your personal space. All you are required to do is click on our website ShubhBank.com and fill out the application form. Once you upload your basic information, the site will customize offers that will best suit your needs. You can also carry out this process offline by visiting our branch in tricity.

⇒ Nominal documentation: We ask for minimum documents in order to process your loan application. One does not have to fall prey to manual delivery of papers because you can upload the documents online. The basic documents required may include ID proof, latest bank statements, salary slip or address proof to Apply For Personal Loan Online.

⇒ Flexible repayment: Once you uploaded the documents along with application form, our representative will customize the offers that best fit to your profile. We always keep in mind your monthly income and other expenses while customizing the loan scheme. It helps you meet your financial requirements without the heavy burden of monthly installments.

⇒ Instant Approval: After applying for personal loan, we carry out a basic verification process on your given details. Post the evaluation process, we approved the loan until or unless you fulfill our eligibility criteria and disburse the loan quantum directly to your bank account within few business days.

⇒ No usage restrictions: One can use this loan can be used in case of any emergency financial requirement or other needs. You can also use the loan money to fund medical expenses, weddings, travel expenses or home improvement projects and merely anything with our loan offering.

⇒ Transparency: The process of approval to disbursal by ShubhBank is transparent. We work as per the agreement signed by the borrower. There is no place for any hidden charges or terms and conditions that would arise in later stages in your loan journey.


ShubhBank is the one stop remedy for your financial crunch. We have customer eccentric support team to guide you through whole loan process.


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IN WHAT CIRCUMSTANCES YOU NEED TO BORROW MONEY?

Posted on Wednesday October 7th, 2020

Every person has different notion of borrowing, some might consider it ok to borrow money for short term as well as long term goals whereas some might be strictly against any sort of borrowing. However, in certain situations of life, we have no other option than to avail a loan. The misconception about taking a loan is not good for your finances couldn’t be ignored. The loans can help you in number of ways such a growing your business, get your child higher education; help you to buy your dream home or to invest in attractive business opportunity. However, if loan is not used correctly, it could trap you in vicious debt cycle. So here are some points listed in what circumstances you need to borrow money and there is no harm in it.

→ Medical Emergencies: An emergency can arise uncertainly, therefore, it is tough to be prepared if you are caught off-guard. If you don’t have any medical insurance to cover your emergency, then borrowing money is inevitable. Several lending institutions offer personal loans to help you take care of medical emergencies without worrying about huge bills of the hospital. However, do check the terms and conditions of the loan before borrowing it.

→ Higher Education: If you are worried about child’s future education, a loan against education could be an excellent option if you don’t have adequate savings. Most of the banks and NBFCs in India provide education loan to help the children fulfill their dreams. The financial institutions not only offer the lower interest rate when you Apply For Loan but also have longer repayment period.

→ Expanding Your Business: If someone wishes to grow their existing business, borrowing money might be a best option, if you are short of funds in account to fuel your expansion. With the easy cash flow in operational units, you can grow your business by leaps and bounds which can lead to increased sales and higher profits. Therefore, have a robust business plan to reflect the lender that how you want to use the loan money to expand your business with minimal risk.

→ Consolidating existing loan: You have taken multiple loans in past years and unable to manage them, then gold loan might be a good idea to avail a loan with high amount to pay the existing loan. The gold loans are offered on lowest possible interest rate that can save you money if you are paying higher interest rates. It not only helps to consolidate the loans but also helps to manage your debts better.

Now we have touched upon few circumstances why people might borrow money. Before you Apply For Loan Online do your homework by comparing the different lenders on internet and keeping in mind the different aspects of loan that how much money you really need and how much money can you comfortable repay in a decided tenure. A loan can turn into messy financial challenge if you mismanage it, so beware of your deeds.


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WAYS TO GET A BETTER RATE OF INTEREST ON PERSONAL LOAN

Posted on Monday October 5th, 2020

Nowadays, there is one of the best financing tool in market is a personal loan. Be it for starting-up small venture, your child’s wedding or higher education or to fund the purchase of any electronic appliance, you can avail a personal loan for various purposes. There are many lending institutions offering best deals on these loans but getting low rate of interest is not an easy task. Every lender takes into consideration multiple factors before deciding to lend money to anyone. So take a look on some important factors that determine your interest and the ways to get a better rate of interest on personal loan and how to improve them.

Good Credit Score: A personal loan is an unsecured loan and doesn’t require any collateral. Therefore, in such circumstances, a strong credit score is essential. It represents the creditworthiness of the borrower and lenders will ask for your credit reports before approving your loan. Having a good credit score, increases your chances to get easy personal loan as the lender have idea that you will be able to repay the borrowed money on time. Moreover, a strong credit history puts you in position to negotiate the interest rates.

Avail Seasonal Offers: Always pay attention to seasonal offers during the festive season in order to get low interest before you Apply For Personal Loan. You can great deals offering zero processing fees, customized pre-approved deals and discounts on interest rates.

Compare the Loan Deals: Before availing a personal loan, keep in mind the interest rates offered by different lending institutions. All the information is available online, these days, so visit the websites of various financial institutions, and compare all the factors then zero in on a personal loan. You can also check with existing creditors for borrowing as they may offer lower interest rates as well as longer payback period than other conventional lenders.

Good Repayment History: Either it is current loan or pre-existing one, follow the habit of repaying your EMIs and credit card bills on time. This timely repayment will not only improve your CIBIL score but you will also be in better position to negotiate for better interest rates on any type of loan.

Calculation of Interest: It is advisable to understand the interest calculation methods before taking an offline or Online Personal Loan. Some lenders may offer flat interest rates on loan where the interest is calculated on entire loan amount whereas some may offer loan at reducing rate of interest which is calculated on remaining principal amount. Having a better understanding of calculation method will save you a lot of time and efforts by avoiding paying a higher interest rate on personal loan.

If you are still unable to decide how to get a personal loan at competitive interest rates, you can avail it on ShubhBank.com. Our loan processing is hassle free with minimal documentation, collateral free and flexible repayment options as well as with the approval in just few business days after applying a loan.