Nowadays, loans are very popular financial tools among people to fulfill their financial needs. They offer potential to the borrower to shed off their financial constraints and to enjoy great deals on loans such as flexible repayment tenure, instant disbursal and low interest rates. One can “APPLY FOR A LOAN“ to handle a financial crunch as it is easy to go financing option.

Therefore, loans are common these days and can be availed under two categories like secured and unsecured loans according to your need. Sometimes, when you get a loan from specific lender, your loan cost comprises some hidden charges which can burn a big hole to your pocket.

In this blog post, we will guide you through various hidden charges like late payment penalty, pre-payment charges, processing fees, balance transfer cost etc. levied by the lenders and how to avoid them to save your hard-earned money.

→ Read the loan agreement carefully: While availing any kind of loan, it is advisable to go through the agreement before signing the final copy because this document enlists all he types of charges that lender can levy upon you under different circumstances.

You must read carefully about the payable interest rate, repayment mode, repayment tenure as well as other terms and conditions. Take your time to read the fine prints to nullify any mistake and then sign the loan agreement.

→ Plan the repayments: It would be wise and effective thing to plan your EMIs according to your repayment capability to avoid the delay in repayments.

There are number of lending platforms that let you use EMI calculator to check the repayment amount for particular repayment period from which you can get an idea that how much you can repay easily to avoid any penalty in the future.

→ Be aware of different fee types: One must be aware of every kind of payable charges and fees types that are involved in specific loan product because having knowledge beforehand can help you to plan your repayments well and you can avoid any situation that can levy any additional or hidden charges on you.

→ Get a loan from reputed lender: With the emergence of new-age fintech companies, it has become easier to access the loans. You can “APPLY FOR A LOAN ONLINE“ or offline by meeting the eligibility criteria specified by the lender and by uploading required documents.

One can get funds disbursed to their bank account directly once their loan gets approved. The approval is based upon various factors such as eligibility criteria, income, and age of borrower as well as after the verification of submitted documents.

So, it would be better option to avail a loan from a reputed lender like ShubhBank to keep yourself away from all such hidden charges to make your loan journey stress-free.

Hence, we have listed such factors to make you aware of unnecessary charges levied by some of the lenders and are guiding you that by exercising a bit of caution while signing any loan application, you can avoid any kind of hidden charges.

It is true to say that Gold is the most valued commodity among people in our country and always stays on top with its top value. However, many individuals are unaware how they can utilize their ornaments to meet their financial needs. Nowadays, numerous banks and NBFCs offer funds against your gold ornaments. So people in need can “APPLY FOR GOLD LOAN“ as it has lowest possible interest rates and easy loan processing.

On contrary, some people still believe that personal loans are easy option for covering any immediate cash needs in case of crises but gold loans are the best option to meet your immediate expenses as they are secured type of loans are disbursed in 1-2 hours with basic eligibility criteria.

There are number of reasons for a loan seeker to get a gold loan as they can avail various benefits over taking a loan against gold which we have mentioned in this blog post. Let’s take a look on those benefits:

✓ Quick processing: Being a secured loan, your gold is required as collateral by lender to acquire a gold loan. Every lending institution approves your loan amount depending upon the purity of your ornaments and market value of the yellow metal.

The secured loans are safer alternatives for credit intermediaries as in case of default, lender has the right to sell or auction your asset to recover their outstanding dues depending upon market value. Therefore, lenders usually sanction the gold loan in few hours.

✓ No need of credit score: Mostly the loans are passed to the borrower after determining their repayment capacity which is evaluated from their credit score. One wouldn’t have to bother about their credit report when it comes to “AVAIL GOLD LOAN“.

As borrower pledge his/her ornaments with specific lending institution so they don’t look at their credit rating which means they don’t need to disclose any pre-existing loans or other financial responsibilities.

✓ Safety of your gold: The gold you pledged as collateral with lender will be kept safe because it will be returned you in its actual form after completing the repayments. In case. You failed to make the repayments or miss the EMIs then lender has right to charge you late fee/penalty or can auction it to recover all their money with interest rate.

✓ “Pay interest only” option: It is the best ever thing offered by lender in gold loan where a borrower can opt a flexible repayment option where he/she just have to pay the interest only till the fixed tenure and at the end of repayment period he/she has to repay the whole principal amount.

Hence, your gold kept in lockers may not be worth much but can be utilized to cover your urgent financial needs. You can “APPLY FOR GOLD LOAN ONLINE“ or offline as it is regarded as secure investment because it can be availed at most attractive interest rate and repaid in flexible means to enjoy stress free loan journey.

Anyone who has sufficient gold can take a gold loan from ShubhBank to fulfill their urgent financial needs.

It is true that most of the individuals don’t know much about Loan against Property and end up availing Personal Loan whenever they need financial aid. Personal Loans are good when you need low amount of funds but if your requirement is huge then you can, it is always better to “Apply For Loan against property“ as it helps you to get desirable amount and also saves your money on the rate of interest.

One of the main reasons why Mortgage Loans get ignored is lack of knowledge about them in common people. The majority of individuals don’t know how a LAP is availed, what are the interest rates charged on it, how they can apply for it and so on. Therefore, this blog post is to clear all your doubts about Loan against Property as we will guide you about the loan and checklist to make before getting a LAP:

Compare the interest rate: Once you decide to avail a mortgage loan, the first thing which you should consider is comparison of interest rate. There are so many lenders in the market who are offering Loan against Property but try to choose one that offers you favorable deal with affordable interest rate. One can compare interest rate online between different lenders and select that offers you easy application and reasonable rates.

Pay attention to the loan: Before signing any loan agreement, it is always wise to read the terms and conditions carefully but only a few people this step properly. However, not having a proper awareness can cost you much in future. So, don’t sign any loan document in hurry and look upon every paper carefully. Moreover, if you are unable to understand the terms, you can always seek help from financial expert.

The things to check in loan agreement include terms for pre-payment, clause that allows lender to alter the conditions of the loan and last but not least is the clauses after defaulting on loan.

EMI calculation: It is really important to know your estimated EMI before getting any loan. It not only helps you to analyze your repayment capability but also helps you to plan your budget accordingly. The one thing to be aware of is never miss out on repaying the loan that you took against property because your property is on risk of auction if your default on loan for any reason. One can use an EMI calculator to know the right amount of monthly installment.

Hence, Loan against property is a secured type of financial tool where borrower gets a loan by pledging their commercial or residential property as collateral to the specific lender. One should utilize this option wisely and “Apply For Loan against property Online“ or offline when he/she is sure about their repayment capacity as by taking this loan, you risk your ownership of the property which is pledged as collateral. At the end, we can say that Loan against Property is a great way to avail a bigger cash to handle your financial crunch.

A loan against gold I a well liked method of getting funds using idle gold ornaments that lying around the home lockers. This secured gold loan is offered at affordable rate of interest than unsecured personal loan as they secure your ornaments as collateral. It is the convenient option for generating instant funds. One can “Apply For Gold Loan“ to secure big amount due to skyrocketing price of gold.

However, to get the great benefits of loan, conduct a proper research that you would do in other loans. In this blog post, we have mentioned some tips that you should follow to find the best deal of gold loan which assist you in doing so.

✓ Search a good lender: It is significant to know the legitimacy of lender before pledging your gold to secure a gold loan. You must be careful while availing an online loan. Go for well know lending institutions because disclosing your personal information to a con artist can land you in a big trouble. Therefore, it is necessary to ensure the security of your personal information and asset. Don’t go for the dubious ones when don’t know anything about their market presence.

✓ Compare the options: People in need always make mistake of choosing the first lender that they come across and accept their terms. When you analyze the lender and pick the reputed one, you will never lose anything. Nowadays, you can access anything with a sing click so evaluate the best offer made by different lenders and choose the most appropriate one. List down your needs and choose the lender with simple terms and reasonable interest rates.

✓ Know about additional charges: Be careful while considering the offer from the lender because every financial service has a catch. To know all the hidden charges on loan, you must read the loan agreement property. Look for the processing fee, late payment fee and foreclosure penalty and other charges. Pick a lender where they charge you low cost as it will help you to reduce your loan burden.

✓ Look out at repayment options: When you “Apply For Gold Loan Online“ then you should be aware of all the available possibilities that how comfortably you can successfully repay the loan. Select a lending institution that offers you a variety of flexible repayment structures at all times as it will help you to better manage your repayments with its assistance. So, choose the repayment option that best meets your requirement and helps you to make significant savings.

Hence, if you want to get great deal and want to make most out of an online gold loan, you need to do a proper research. Once you zero in on right lender, keep an eye on them for any festival discounts or promotional deals and lock in your deal when the loan cost is affordable. A detailed search can help you out in making a right decision whether it is in the aspect of interest rate, processing cost, loan to value ratio as well as repayment options.

Nowadays loan against your residential or commercial property is a best way to raise lump sum cash. You are free to use the loan amount for any wedding event, business expansion or home renovation etc. It is an outstanding option to utilize the value of your property to meet any financial requirement. One can “Apply For Loan against property“ and can mortgage his/her property by meeting up the eligibility criteria asked by the specific lender.

The loan amount, interest and tenure can vary from lender to lender depending upon the value of your property as well as credit worthiness. It is good to assess your financial situation before getting a loan. Here, in this blog post we have prescribed some points to look at before availing a Loan against Property. Let’s go through these points:

⇒ Assess your financial profile: One can start it by consolidating their total income and total debt including your rent, insurance premiums, children’s school fees etc. one you find the difference between two, you will come to know what you left with to pay an EMI for a new loan. There are number of lending platforms that provide EMI calculator to understand your potential. You just need to enter your desired loan amount, tenure and interest rate; you will get your EMI.

⇒ Loan repayment period: Everybody needs to fix their repayment structure judiciously. Any individual gets tempted to pick longer tenure and shorter EMIs but one must be aware that you will end up paying higher rate of interest making your borrowing cost higher. Therefore, it is good to know your EMI capacity so that you could minimize your repayment period.

⇒ Never delay your EMIs: When a borrower delays their monthly installments, lender may levy a penalty which also adds up to your loan cost. Moreover, delayed repayments can affect your credit report adversely. It is always good to be disciplined with your payments to maintain your credit profile.

⇒ Convenience: Time is priceless and crucial factor in any transaction, so one should always look for a lender with whom you can “Apply For Loan against property Online“ rather than wasting your time by visiting a branch with pile of papers. ShubhBank offers an online lending platform which is a convenient way to avail a loan. Visit our website and click on “Apply Now” for loan against property and upload your details to submit your application.

⇒ Right lender: Any potential loan seeker should choose a lender after checking some important parameters because applying a loan with multiple institutions can hinder your credit score which can lead to loan rejection. ShubhBank is a renowned lending platform that offers loans with complete transparency and has a smooth operation with speedy loan processing. It would be a wise decision to choose an authentic lender with easy eligibility criteria.

Hence, after going through these points, you must be aware of the fact that these things are extremely important to make any informed decision regarding mortgaging your commercial or residential property to fulfill your personal or professional needs.

The collateral free loans refer to the term where a borrower doesn’t need to pledge any asset or security against the loan money. The loans are approved on the basis of client’s current income, cash flow and credit rating to ensure the repayment of loan on time. Collateral can be any of your personal or business assets that acquire certain financial value against the borrowed money.

One can “Apply For Loan“ to fulfill the personal and business purposes without pledging any security. Most of the popular collateral-free loans are Personal Loans and Business Loans. The amount of loan sanctioned purely depends upon your credit score. So, now you have better understanding of collateral-free loans, here we have listed some of the benefits availed from security free loans making them an ideal choice for borrowers.

● No security required: As the name indicates, these loans are free from the requirement of any asset from the borrower. Lender will not compel the customer to risk his/her valuable asset for availing a loan. Therefore, by removing this obligation, it allows the borrowers to remain stress free about debt burden and use the amount to tackle their financial crunch without losing any asset.

● Build your credit history: Since collateral loans remove the requirement of any security but it is based on most important aspect which is borrower’s credit worthiness. Every lender approves the collateral-free loans based upon the clean credit history and good credit score of their client.

If you are a first time borrower, then unsecured loans can be great way to start working on your credit score. After availing the loan without pledging any asset, make sure to pay the loan EMIs on time to build up your credit score over the time and get eligible for big ticket loans in future.

● Quick loan approval: In case of secured loans, lenders take long time to approve the loan as they need much time to evaluate the value of the possession submitted as collateral and thereby finalizing the loan quantum. However, collateral free loan eliminates this need and loan mount is approved and disbursed quickly.

As one of the reputed lenders, ShubhBank sanctions the collateral free loan in a few minutes after evaluating your eligibility and funds are reflected in your bank account within 24-48 years.

● Flexible payments: Sometimes unsecured loans are restricted by limited repayment options but most of the lending institutions like ShubhBank offer variety of repayment options to make the loan journey as smooth as possible. We offer collateral free loans at nominal interest rates with flexible repayment structure.

Hence, collateral loans have become ideal choice to the dilemma of the loan seekers who don’t want to risk their assets in the loan process. Moreover, it helps the borrower to build a credit score and helps to “Apply For Loan Online“ or offline in future at competitive interest rates. If you are looking for easy and convenient collateral-free loans, visit the ShubhBank and avail the useful features such as fast online processing and flexible tenors on unsecured loans.