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.

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.

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.

Loan against property is much like any other type of loan in which lender promises you to give the funds by keeping your commercial or residential property as collateral. This concept is gaining popularity among loan seekers as large sum of money gets easily arranged by this. Loan against property offers great features such as easy documentation, faster approvals and flexible repayment options. It means one can apply for a loan from any lending institution by extending his/her property as a security. This is type of mortgage that involves a ‘transfer of interest’ and the ownership of the collateral remains with the borrower. Here in this article, we will tell you about what are the essentials of “Loan against Property“ and why it is attractive as compared to conventional loans. Mortgage loan is convenient as it offers higher loan amounts at discounted interest rate accepting both residential and commercial properties as security. Its major benefits are:

• Large quantum can be financed.
• Lower rates of interest as compared to other loans.
• Longer tenure resulting in low EMIs.
• Efficient financial tool for debt consolidation.
• Multipurpose use either personal or business.

The lender may also ask for KYC documents to validate the eligibility criteria which may consist of:
• Address proof.
• Identity proof.
• Property Papers(Residential/Commercial/Industrial/Plots).
• Salary slip if you are salaried.
• Certified financial statement for last 2 years if you are self-employed.

The approval of loan depends upon borrower’s credit score along with other factors such as age, income, the number of dependents, assets and liabilities. Once you “Apply For Loan against Property“ the lender will evaluate your eligibility depending upon given factors and luckily, if get approved for loan, the amount is disbursed in full or in installments in the bank account of the borrower. One can have choice to pick the type of interest rate either fixed or floating. The quantum of loan extended to the borrower is evaluated on the market price of the property, you pledged to the lender. It is important to keep the fact in mind that every lending institution always holds a certain amount of money and disburse a maximum of 70% of the market value of property. This ensures the lender against any cyclical fluctuations is real estate prices or in case, borrower default on installments.

Loan against property is great financial tool to meet your personal and business needs as there is no restriction on its usage. Many people use mortgage loans for funding children education in abroad, to buy or build a second property or even for business purposes. Putting your property at stake is a serious decision, so go ahead for loan after comparing the different lenders on their websites as many of them offer online loan against property with great benefits and features. The LAP should not be used as risk capital because it has high chances of losing your property to lender, therefore, apply it only when you know that you are able to pay back the loan amount in the fixed period.

In recent times, prices are hiking day by day and it’s impossible to make any big purchase without a loan. However, getting a loan these days has become much easier and turns out to be useful in the right circumstances. Before you approach any lending institution for loan, it’s advisable to know about the basics of borrowing so that you don’t regret your decision later. An EMI is a key factor of any loan, so we are going to tell you all about the EMI and its calculation. The term EMI means for equated monthly installment which is a fixed amount of money, you need to pay your lender as a repayment towards your loan until your loan is fully repaid.

An EMI is nothing but a loan feature that allows you to borrow money for emergency use while letting you to repay it in installments over an extended period of time. It is paid to the lender on a fixed date every month by setting up auto debit system or via cheque through your bank. There are two main components of EMI, the principal amount and the interest component on it. In initial years of loan after you “Apply For Loan“ huge portion of monthly installment consists of interest but as the loan matures, the outstanding loan quantum reduces gradually and the interest part becomes lower than the principal amount. The EMI amount also gets changed in the following cases:

Prepayment of Loan: If someone prepays the loan money during the tenure of loan, EMI will change accordingly. The prepayment cuts down on principal amount, therefore interest will be charged on new principal amount now. You can also ask the lender to change the tenure instead of EMI which leads you to repay the loan money quickly.

Progressive EMIs: Some of the lending institutions also offer the option of repaying the quantum through progressive EMIs. In this case, you initially pay a limited amount for specific time and after completion of this period, you start paying larger installments. It is generally preferred by the individuals who just started their career and cannot afford large EMIs initially but hope to pay it as they grow in their work place.

There is a particular mathematical formula to calculate an EMI which is given below:
P x r x (1+r) ^n/ ((1+r) ^n-1), where P stand for principal amount, r stands for rate of interest and n stands for duration of loan in terms of month. Nowadays, banks and non- banking financial institutions are offering use of free online calculators on their official websites when you “Apply For Loan Online“. These calculators can help you to know how much installment you need to pay each month so that you can plan your budget accordingly. It should be a prior thing in your checklist while securing a loan to calculate EMI beforehand to stay out of debt forever. Hence, you know all about EMI now, go ahead and choose the loan that suits your needs.

Taking a personal loan and using the loan money to fund your vacations or to buy yourself a new gadget is great, as long as you manage the timely repayments and don’t get into debt trap. Personal loan is a most popular financial product that an individual can avail when in need. Most of the lenders have sweetened the pot with minimal documentation, quick approval, flexible tenure and comfortable loan terms. This type of loan is very useful when you need funds in short time such as wedding, travelling, vehicle purchase or home improvement. Before securing it based upon your needs, plan a budget and figure out if your income can accommodate the monthly installments. If you are going to apply for the loan, there are some do’s and don’ts to remember while taking a personal loan for you given below in this article:

1. Borrow as much as you need: This is the best way to avoid getting into debt trap. You may meet the eligibility criteria for higher loan quantum but it’s advisable to borrow just what you need. If you are not sure about your requirements then opt for Personal Loan Overdraft, where you are sanctioned with full loan amount in one go but withdrawals can be done as per need and you only have to pay the interest rate on the amount you use.

2. Borrow according to repayment capacity: As a thumb rule for loans, a loan EMI should not exceed 20-25% of your monthly income. So, before you “Apply For Personal Loan“ calculate how much monthly installment you can accommodate after meeting all you’re your expenses and adjust the funds accordingly.

3. Choose the right tenure: If you opt for long tenure, it will reduce the EMI and short tenures are suitable for short term cash needs where a borrower expects the money from other sources in few days. Therefore, choose carefully and make timely payments as it can affect your credit score and reduce your chances of getting the loan approvals in future.

4. Don’t use loan money for luxuries: A personal loan is multipurpose, it does not come with a restriction on use and sometimes, it is easy to give in to the impulse of spending the loan amount on luxuries. Well, it’s great to treat yourself occasionally but spend the borrowed money carefully and make sure to repay it on time before making an unpleasant loan journey.

5. Read the terms and conditions carefully: Nowadays, there are innumerable digital lending platforms providing you the “Online Personal Loans“ to save your time and make you aware about the terms and conditions applicable on loan processing and approvals. Before, signing the loan agreement read the terms and conditions carefully and ensures yourself what you are getting into.

Personal loans are convenient because they are fastest and easiest form of credit available in the market. It should be a wise decision to identify your needs first, plan out your budget and to opt for a Personal Loan.