Nowadays there are various conditions that must be satisfied for getting a loan sanctioned from a lending institution such as creditworthiness, financial status and so on. All these factors are used to evaluate the borrower’s ability to repay the loan. A regular source of income is the major deciding factor for lenders to approve the loan application. However, with such strict guidelines, it is possible for individuals who are unemployed to secure the funds through gold loan. Therefore, gold loan is perfect way to access funds by unemployed people as it just need source of income either you are unemployed and gold ornaments that needed to be pledged as collateral.

A yellow metal can fetch higher amounts of cash during financial emergencies. To get a gold loan sanctioned, all you need to have gold because it is not affected by low credit score, employment as it is secured by collateral. The quantum sanctioned as loan is basically a percentage of the total gold’s market value and repayment is done via monthly installments. These features attract the loan seekers to “Apply For Gold Loan“ as it does not have any restrictions on usage. Many of the lending institutions help to get a gold loan fast. There are lots of features provided by such companies so have a look on them:

-> It is made available at customer’s doorsteps.
-> The processing of gold loan along with disbursal is completed within few minutes.
-> Most of the financial institutions have digital lending platforms.
-> Interest rates on gold loan are much lower as compared to other secured and unsecured loans.

In recent times, loan seekers are cutting down on offline lending stores because online gold loans are cheaper as it lessens the operational costs to a large extent. The online lending platforms offer low interest rates, zero processing fees, doorstep services, personalized customer support, pickup and return of gold assets. One will be surprised to know the ease of availing “Online Gold Loan“ and it’s just a matter of few clicks to apply for it:

-> Click on the site of bank or NBFC from where you want to request a gold loan.
-> Company professionals will complete the KYC process at your doorstep.
-> The loan quantum is transferred as quickly as it gets approved in the borrower’s bank account.

As mentioned earlier in the article that gold loan can be availed by unemployed people so there are some tips to be followed to increase your chances of getting a gold loan approved:

-> Always maintain a good credit history to instill the confidence of lender in borrower.
-> Providing the genuine collateral is another way to increase your chances of approval.
-> In case of gold loan, the alternate sources of income rather than regular job can boost your chances of securing a loan.

A guarantor can also strengthen the position of loan applicant as the lender get a sort of guarantee that money will be repaid in time.

A beautiful home is a personal asset that everyone has dreamt of owning for a long time. If you are planning to purchase a new house, these are the two things that you will consider instantly a pretty home and about applying for a home loan. However, what matters is qualifying for the home loan. It is most important for the lenders to analyze your repayment ability, which is essentially evaluated based on your earnings, expenses, savings, work profile, financial capability, and repayment history of loans and other dues. A nasty credit score and therefore the ghosts from the past, i.e. your credit debts or poor payment history can pose a drag while qualifying for a home equity credit. Here are 4 important tips to see before apply home loan online:

• Your Credit score: – A credit score is like an inspiration that can be a foundation for your easy home loan application process. This score depends on how consistent you are good at paying your past EMI and loans. The higher the credit score, the higher the chance of the loan getting approved. And also one can expect the best rate of interest on the home loan as a bonus. A trusted bank or financial institution will make a report on your Credit score. Ensure you check your credit score at least six months or a year before you “Apply For Home Loan“.

• Required Documents for a home loan: – Before you go and apply for a home loan, it is necessary documents required and ensures they are available before you approach a bank or financial institution.
1. Pan card or Aadhaar card to verify your identity.
2. Bank statements for at least 12 months. Make sure you maintain a reasonable balance in this account over the past 6 months.
3. Last 3 months salary slips.
4. Income Tax Returns for the past year or two years.

• Consider you’re Budget, down payment and EMI: – Define your budget for buying a home, how much money you can consider for the down payment, and how much loan home would you require. Mostly you will get 80% of the value the property as a home loan if your income seems sufficient. Calculate your EMI range you are comfortable with, as that will help you to decide the tenure of the loan. You can use online EMI calculators.

• Interest Rates of the loan amount: – The borrowers have to pay interest on the loan amount in a calculative way. It may vary from 6.70% to 6.95%. As the loan amount is reduced after some EMI, the amount of interest is also reduced. “Home Loan Interest Rates“ may vary from bank to bank. It also depends on RBI changes in interest rates. The buyers must have some processing fees during the transfer of an amount.

Taking all the above points into consideration, you can proceed to apply for the home loan. Thus it will improve your chances for a quick home loan approval.

Gold loan, also known to as “Loan Against Gold“. It is a type of secured loan. Gold loan is always availed by pledging gold ornaments with the lender in exchange for money. You can pledge your Gold ornaments, jewellery, coins, and bars to avail of the gold loan. Your gold loan would be as safe to the lender until you repay the loan amount.

Gold loan is similar to a personal loan, there is no restriction in using the money. You can use the gold loan funds for paying medical bills, Tuition fees, purchasing a car, renovation of home and emergency needs.

Features of Gold Loan:

1. Secured loan: – Gold loan is one of the type of secured loan. Your CIBIL score does not matter in this. It does not matter if your poor score. All you need to have physical gold to lend. A secured loan is offered at a lower rate of interest.

2. Flexible Repayment: – You can repay the loan either by EMI or pay regularly the interest and principal amount lump sum at the end of the loan tenure. Gold loans are popular for this flexible repayment.

3. Quick Processing: – Gold loan lenders do not bother about the Credit score as it is a secured loan. Paperwork and other formalities involved in gold loan processing is very minimal. This is because the lender gets your gold in exchange for money.

4. Quick Disbursal of loan: – Gold loan can be disbursed within 10 minutes as the documentation work is very less.

5. No restriction on funds utilization: – Funds received as gold loan can be used for any purpose. You can use funds for purchasing a car, renovation of home, medical expenses, and education expenses.

The loan amount and interest rates
The loan amount varies from organization to organization. It depends on where you “Apply For Gold Loan“. The loan amount will vary if you get it from a lender or a bank/financial institution. Both private and national banks offer gold loan. The amount sanctioned will be decided after verifying the purity and weight of the gold bars or ornaments. Then the current market rate for gold will be considered based on which you will get a loan. The majority of the lender and banks/financial institutions offer 75% of the value of the gold, which is pretty good!

Again the interest rate will also differ. Private lenders tend to charge higher interest rates than banks. It is a better option to get a gold loan from a bank than from a private lender. Banks levy less interest rate due to the nature of the loan. A gold loan is a secured loan. Hence the interest rate is pretty low compared to other types of loans.

Repayment of loan amount
There are different ways you can pay off the loan. You can either pay the whole amount along with interest at the end of the tenure or may choose EMI. Banks give you more options when it comes to repayment of loans than private lenders.

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.

Nowadays, irrespective of what is happening with economy due to this pandemic, gold purchase continues among Indian households and prices are hiking gradually. One of major reason for this demand is, gold not only serve as precious metal or important part of culture and customs but the benefits associated with it after pledging it to lenders to get quick funds to fulfill the requirements in emergencies. With skyrocketing prices, a gold loan can fetch you a higher quantum during financial crisis. All you must have to acquire gold for getting a gold loan. It is a secured loan and does not get affected by Credit Score.

ShubhBank will make a gold loan easy for you as we are seller of many financial products. When you “Apply for Gold Loan“ the funds which get sanctioned are a percentage of the total gold’s market value. One can make the repayments via monthly installments, after repayment, gold is returned back to the borrower. There is no restriction on usage but the interest rate varies from lender to lender. Our digital platform helps you to get a fast gold loan as the hassles involved in processing are eliminated. Let’s have a quick look at few points that how to get quick funds through gold loan by ShubhBank:

• Gold loan can be availed at your doorstep.
• The processing of loan along with disbursal gets completed in few hours.
• We have a completely digital lending platform.
• The rate of interest is very competitive which will be easy on your pockets.

When you apply a gold loan, you are able to lessen costs like operational costs to a great extent which will help you to avail lower interest rates and making your loan cheaper as most of the borrowers face the problem of not having enough funds to meet loan processing terms.

An “Online Gold Loan“ from our digital platform offers you a low rate of interest, customized loan scheme, doorstep services as well as pickup and return of gold valuables. You will be surprised to know the ease with which gold loan can be availed in just a matter of few clicks.

BENEFITS OF ONLINE GOLD LOAN
• Doorstep service
• Highest loan quantum
• Customized tenure
• Competitive interest rates
• Insurance cover offered

Availing a gold loan from ShubhBank is as easy as shopping from online websites. You just have to visit a website ShubhBank.com. Search for the gold loan and apply it. Our executives complete the KYC process at your home and loan money is transferred instantly to your bank account after approval. There is always a threat of cyber theft or fraud but our lending platform is extremely safe and secure. We ensure customer’s personal data should be encrypted and protected against any fraud; therefore, security audits and customized strategies are implemented to safeguard the information. This yellow metal is an investment tool which always offer you good returns and liquidity in the times of financial crunch by opting a gold loan.

If you want to own a successful business or want to make your existing business successful, a regular cash flow is a part and parcel for every company to start a profitable business. The common reasons for which a company needs funding can be purchasing a new machinery, wages payment to the staff, buy an office space, bring down the existing debt or to expand the pre-existing business. Therefore, to get the funds, there is a large marketplace for business loans as corporate sector plays a significant role in contributing the GDP of the country. Nowadays, the demand for business loans is increasing; hence financial institutions are making it easier to avail funding for businesses. Here are few tips to tell you that how to pick the right “Business Loan“ to achieve success.

TYPE OF LOAN: There are different types of business loan available in India for small businesses which are mentioned below:

• Working capital loan.
• Term loan.
• Machinery loan.
• A business line of credit.

So, to avail the benefits, you first have to decide about the type of loan you need. If you need to purchase new or upgraded machinery/equipment then you can opt for a machinery loan, if you need to pay out wages or want to expand your existing business then you can go with working capital loan. When you know about such options, these always work the best when you “Apply For Business Loan“. Always research them one by one and opt for best suited at last.

THE RIGHT LENDER: When you are trying to plan for a loan, you will come across many lending institutions offering number of benefits. But if you really want to secure best option, it needs sometime. You need to research for various lenders by going through their websites, customer reviews on their portal. Always compare them on the basis of interest rates, quantum offered and tenure to repay the loan. ShubhBank is trending lending institution who provides Online Business Loan to fulfill all your requirements.

DOCUMENTATION: When you apply a loan, every lender will ask you about business’s cash flow to ensure them for repayment. It is every borrower’s responsibility to provide correct documentation to avoid rejection of loan application. Having a robust business layout showing the potential growth and profit can help you to get approved for loan. The other important factor to know is eligibility criteria. Try to opt a lender with minimum eligibility criterion as gathering all the required documents may be tough at that point of time. Some of the documents required are given below:

• Existing business details.
• Previous year’s Income Tax Returns.
• Proof of identity- PAN card, address proof, voter ID etc.
• Last two years bank statement.
• Commercial and residential property documents.

At last, selecting a right business loan is important for every business’s success. So be a smart, choose the best loan product available in the market and make an informed decision. Hence, a right financial partner can contribute to your growth in business.