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HOW DIGITAL PLATFORMS HAVE CHANGED THE FACE OF LENDING?

Posted on Monday December 21st, 2020

Nowadays, each and every sector is transforming and doing business through digitalization, whether it is a private firm or public, a great change is being seen from the past decade. Due to COVID outbreak, the last six months have been extremely crucial to survive in any business. Most of the businesses have leveraged the use of digital platforms to provide services to their clients at the comfort of their personal space. Everyone is competing these days, to serve the customers best through their online sites. Therefore, the financial sector is no exception here, almost every financial institution is providing online services to Apply For Loan or to make online payments, everything is getting quicker.

The lending sector is one of the few sectors which are running all the time. The financial institutions with digital lending platforms are making a difference in potential loan borrower’s lives by providing loans in just a click of the button. The digitalization in lending has been growing and has become footfall for any customer before branch interaction. The automation process has made the digital adaption easy and there are many digital strategies that financial institutions are adopting which are listed below:

√ Online loan applications: Now, it becomes easier for loan seekers to fill online application forms, upload KYC documents and compare the loan schemes anytime and anywhere in a couple of minutes. It is unlike the conventional process where a personal was required to visit the banking or non-banking branch to Apply For Loan Online. Once you get approved for the loan application, the loan disbursal would take few business days to get credited. With digital lending services, most of the things can be done online which reduces time and require less paperwork.

√ Privacy: Security is of severe importance for any financial institution to ensure customer data is safe by using significant technologies. Cyber crime is a greatest threat especially to lending sector where customers trust them for their money matters. Some of the key steps such as user authentication and secure infrastructure are taken to tackle privacy concerns.

√ Automated process: The manual intervention is eliminated by using significant softwares designed to handle documentation, KYC and other work making the process easier for both borrower and lender. Most of the banking and non-banking companies are automating their services which provide high accuracy.

√ Marketing: Companies are adopting the idea of email marketing, social media marketing and telecalling to reach out the potential customers. They are engaged in investing in online channels to create their brand image, to build a fan base and attract customers by online marketing strategies.

ShubhBank is one of the leading digital lending platforms that is making a difference in its customer’s lives by offering online loans in the comfort of their homes. Serving the customers is the core value of ShubhBank and we always keen to bring trust among our borrowers to be a preferred choice for them. All the process related work can be done online by lessening the manual process.


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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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DO’s AND DON’Ts TO REMEMBER WHILE TAKING A PERSONAL LOAN

Posted on Wednesday August 5th, 2020

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.


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WHAT MAKES YOU AN IDEAL LENDER

Posted on Monday March 5th, 2018

When you are looking for a loan, you not only go for the loan amount or the interest rate associated with it but also a lender from whom you are “Getting the Loan to Fulfil your Requirements”. With the leading competitions in the lending market, some of lending institute offers the loan that look best first but under the hood cannot be as pleasant as the appearance. To avoid such things a good lender is the must having specific skill set and can be easily recognized. An ideal lender showcases each and every product that is beneficial to the customer with a detailed description associated with the product and services. When the lender provides the convenience to the borrower and services online or any other facility then the lender is ideal for any kind of loan. Lending is a business where there is benefit as well as risks also. So when you are looking for an ideal lender, keep some useful points in mind to recognize the safety of the deal for its clients.