How to Get PNB Personal Loan Easily

PNB (Punjab National Bank) offers personal loan for your various personal needs & requirements like marriage, education, Domestic or foreign travel expenses etc. PNB Personal Loan is offered at affordable rate of interest with less disbursal time period. It offers loans based on MCLR sheet at a minimal processing fees of 1.8% of the loan amount (Exclusive of GST). PNB disburse loan in minimum time possible but as a borrower you need to keep somethings in mind. You first need to know the eligible categories for PNB Personal Loan which are provided below & afterwards other important information related to the same.

Eligibility

All permanent Military/ Para Military Personnel including officials of Military Station Headquarters, BSF, CRPF, CISF, ITBP.

Confirmed/permanent employees of Central/State Govt./PSUs and all reputed companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals/Nursing Homes, who are either drawing their salary through accounts maintained with PNB branches or these employers agree for check off facility.

Professionally qualified practicing Doctors viz., MBBS, BDS & above having annual income of ₹ 4 lacs and above. Doctors should be taxpayers for the last three years.

Now that you know if you are eligible for availing loan or not, It’s important to know what all documents are required :-

Duly filled application form with photograph

For salaried persons, Latest salary certificate / form no. 16, Duly authenticated by employer is required.

For non – salaried persons, Copy of receipted ITRs for the last 3 financial years, Age proof, Address proof, Any other information required as per the bank norms.

Loan Amount

Minimum ₹ 50,000/- with a maximum of ₹ 4,00,000 for all borrowers or 20 times monthly net salary whichever is lower subject to minimum Net monthly salary as under:

Metro Centres : ₹ 15,000/-

Urban Centres : ₹ 12,500/-

Semi- Urban/ Rural Centres : ₹ 10,000/-

And ₹ 5,00,000/- or 20 times monthly net salary whichever is lower for those Salaried persons having completed service of 3 years in the present organization & drawing net monthly salary of not less than ₹ 30,000/- per month.

Under PNB Personal Loan For Pensioners, Customers can get up to ₹ 10 lakhs maximum loan for personal requirements.

For employees drawing salary through PNB Bank and completed 3 years of service in the present organization can get a maximum of ₹ 10 lakh or 20 times of Net monthly salary for loan upto ₹ 5 lac and 15 times of Net monthly salary for loan above ₹ 5 lakhs and upto ₹ 10 lakhs.

Subject to Minimum Net monthly salary as under:

Metro Centres : ₹ 50,000/-

Urban Centres : ₹ 40,000/-

Semi- Urban/ Rural Centres : ₹ 30,000/-

For teachers and Defence personnel minimum Net Monthly Income shall be ₹ 7,500/- at all Centres.

Other than the above mentioned, The total amount of loan is determined on the basis of individual repaying capacity.

Features of Punjab National Bank Personal Loan

PNB offers personal loan at low interest rates

It provides quick loan disbursal

Low processing fees with easy documentation process

Convenient repayment tenure

option to avail the Personal Loan in the shape of Overdraft or Term Loan.

No collateral required

Security

Suitable third party guarantee acceptable to the Bank.

PNB Personal Loan Interest Rates

PNB PERSONAL LOAN INTEREST RATES
Loans up to 10 lakhs	For individuals whose salary is being disbursed through our branches only (Including Defence Personnel).	MCLR + 3.55%
Loans above ₹ 5 Lakhs – ₹ 10 Lakhs	For other categories i.e., applicants not having salary account with our bank irrespective of check off facility.(*Field functionaries are not empowered to sanction these cases.)	MCLR + 4.55%
Loans up to ₹ 5 Lakhs	For individuals who are availing the loan under check off facility (Including Defence Personnel)	MCLR + 5.55%
For others up to ₹ 5 Lakhs		MCLR + 6.55%

5 Important Tips Before Getting Your First Home Loan

As the urbanisation is increasing, So is the need for getting a house that suits your lifestyle. For fulfilling this dream you don’t need to have lumpsum amount in your pockets and of course as a common man nobody even think of owning a dream house in today’s scenario. Approaching banks for getting the loan is just the secondary thing but primarily it’s important to keep note of some things that are essential for you before getting your hands on the loan amount.

According to the Social Media Exposures, Most of the people fail to repay their loan and comes under the defaulters list. This happens due to the incapability paying your loan EMIs on time. So before going to the bank you need to know few things.

Here are the 5 most important tips that you should know before getting your first home loan.

Know your repayment capacity – First things first, You need to know about your financial status. There must be expenses linked with your lifestyle. Try and note them down so that you are able to take out a clear picture out of it.

Manage your expenses – Once you have taken loan try and figure out your expenses. Manage your monthly spends keeping the fact in mind that you have to pay your next month EMI. it’s not necessary to spend more than your capability when you have a loan going on.

Plan Your EMIs – The most important factor after your loan disbursement is your plannings on how you are going to take out the EMIs (Easy Monthly Installments) every month. You can also calculate your EMIs with Home Loan EMI Calculator. You need to have funds every month. If one month you are unable to pay your monthly installment due to some emergency then you might have to pay the next month EMI with penal charges and other bounce charges. Not only this but your financial health also gets affected. Secondly, If you are having loans already going on then try and avoid taking too much credit as it can put you through trouble.

Don’t spend more than your requirements – Try not to consume the whole credited money and even if you are doing so, Try and do it in a more uniform way. Have a more systematic approach towards your financial portfolio.

Make sure to have an ideal CIBIL Score – Banks foremost criteria to judge your eligibility of getting loan is your CIBIL Score for that you need to have a sound CIBIL Score. This credit score comes with your loan repayment regularity and how swiftly you carry out your credits.

Kotak Mahindra Bank Festival Loan Offers’ 2017

Kotak Mahindra Bank is the leading banking institutions to provide financial facilities to its customers. The bank on 13 October ’17 has come up with the festive offers. Good news is for the loan availers as the bank is offering waivers on processing fees & rate cut in the interest rates of home loan & personal loan. Best thing about the offer is that not only waivers but the bank will also give travel and shopping vouchers.

Kotak Mahindra Bank Home Loan is being offered at 8.35% per annum during the ‘Kona Kona Utsav’. This rate of interest at home loans is just for a limited period. So the borrowers who want to get home loans from Kotak Mahindra has got the golden chance to do so before 31^st December,2017.

Also, 50 % of the processing fee will be waived on loans till December 31, 2017 along with a zero-balance savings account.

Discount vouchers worth up to ₹ 15000/- from Club Mahindra, Musafir.com, Myntra and ShoppersStop.com are offered for each customer availing a new loan product through any of Kotak bank branches or opening a new Savings Account or Current Account.

Not just home loans but the offers are also provided on Kotak Mahindra Bank Business Loan, Personal loan, Gold loans, Working Capital loans & loan against securities.

Business Loan Interest rates have been cut down to 1% lower than the rack rate. Don’t worry because 25% processing fees will be waived off additionally.

Gold loans by the bank will attract 11% interest rate at zero processing fees with 50% foreclosure charges post 6 months of loan completion.

Loan against securities comes with a special rate of 9.50 percent p.a. with processing fee of Rs 999 where 100% processing fees is waived for privy and wealth customers.

Kotak Mahindra Bank Personal Loan is no behind. The bank is offering personal loan at 10.99% p.a exclusively during festive season with 0.99% processing fees.

Loan against property at 25% p.a & working capital loan with balance transfer up to 1.5% lower than the interest rates on existing cash credit / overdraft (MCLR) rates.

Confused on How to Get Business Loan ? Know Everything Here

Have you ever thought of getting business loan and then took a step back just because you cannot get yourself into the trouble of long plans & procedure. Let’s keep your dilemma in mind and discuss everything you should know before applying for a business loan.

As you must have researched or at least talk to your friends and family about what exactly business loan stands for, which bank you can approach to get it and so on. Queries are endless and we are here to help you with these endless questions in a simplified manner.

Getting business loan is as easy as getting any other loan like Personal Loan which is much more popular amongst borrowers. Not only for large scale companies, Banks provide funds for small & medium enterprises too. All the procedures can be done online which is not at all time taking. In less period of time and hassle – free approach you can get business loan today. At this point of time you can get your loan easily at attractive & affordable rate of interest. Business loan Interest Rates differ from one bank to another and also depends on your business stability & loan repayment track record. For example, Axis Bank Business Loan ranges from 10.15% – 20.00% whereas HDFC Bank Business Loan rate starts at 15.50% p.a.

Business loan can be availed by Traders, Small Businessmen, Manufacturers, Service enterprises etc.

After you know the basics of business loan, Let’s find out if you are eligible to get your own business loan today or not. If you fulfill the below written criteria then surely you are eligible to get loan for your working capital.

If you are an Individual with business registration, Proprietorship firm, Partnership, Limited liability partnership, Private limited companies, Unlisted public private companies, Trust & Societies, then you can surely apply for business loan.

The business for which you want to avail loan should have a good overall annual turnover.

Your age should be between 21 to a maximum of 65 years.

Factors that might affect your business loan eligibility :-

Past loan track

Financial ratios of the company

Credit bureau update

Repayment capacity of customers

Business longevity

Basic documents that you should be kept handy while applying for business loans are :-

Documents required

Proof of Identity : Passport Copy, Voter ID card, Driving License or PAN Card

Address Proof : Ration card, Telephone Bill, Electricity Bill, Rental agreement, Passport copy, Bank Passbook / Statement or Driving License

Age proof : PAN Card, Passport, any other certificate from a statutory authority

Audited Financials

Income Tax Returns

Form 16 A

Last 6 month bank statements

Proof of ownership of either residence or office in the name of applicant or jointly with family members.

Sole Proprietor Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association & Board resolution (Original).

Security / Collateral

Banking/Non-Banking institutions also require security and collateral while providing loan to the borrower. Basic security is required which may vary from bank to bank. There are some banking/non-banking institutions that does not require any collaterals. Here are the few examples :-

Andhra Bank – No collateral security or third party guarantee is required.

ICICI Bank – Collateral Free Term Loans also available, Up to Rs. 1 Crore under CGTMSE scheme.

Capital First – Provides loan up to ₹ 75 Lacs with no security or collateral.

RBL Bank – Loan upto ₹ 35 Lacs with no security.

HDFC Bank – No collateral or security needed.

Bajaj Finserv – Loan upto ₹ 30 Lacs is provided with no security.

Suppose you want to avail loan from Capital First, Then you can also check your loan EMIs with the Capital First Business Loan EMI Calculator in just one minute.

Top Cities where you can get Business Loan easily

Delhi, Mumbai, Bangalore, Kolkata, Ahmedabad, Chennai, Pune, Lucknow, Chandigarh, Baroda & Bhopal.

10,064 Houses Construction Completed under NTR Housing Scheme

Construction of 10,064 houses have been completed under the NTR Housing Scheme in Guntur District, Andhra Pradesh. The possessions of the houses have already being given and On monday i.e, on the World Habitat Day, The beneficiaries of the scheme will celebrate the housewarming ceremony in the district.

The main aim of the scheme is to formulate, promote and execute Housing Schemes for the benefit of people in general and particularly the Weaker Sections or persons living in Rural and Urban areas.

A total of 35,993 houses were sanctioned for Guntur district under the NTR Housing Scheme for which the total cost sanctioned was ₹ 673.09 Crore. Out of which 10,064 houses has been completed at a cost of 116.03 Crore.

The sanctioned houses were allotted to 57 mandals of 17 assembly constituencies in the Guntur District.

The beneficiaries of the housing scheme include 1,993 SCs, 544 STs, 3,311 BCs & 3,460 OBCs.

The Hon’ble chief minister will soon inaugurate one lakh NTR Houses. Andhra Pradesh is moving forward with the view of providing affordable housing to the economically weaker section. This step will definitely help in the upliftment of the weaker sections in the societies.

Here’s Everything You Need to Know About SBI Personal Loan

State Bank of India being the largest lender provides several loan products for both self – employed & salaried individuals. Personal loan offered by SBI has got several advantages that help you achieve your personal level financial goals like wedding, education, travelling or any other emergency like medical treatment.

It is one complete product in itself which covers all your personal requirements.

You might be having several questions in your mind like what schemes are offered under SBI Personal Loan, What is the procedure to apply, Are you eligible to avail the loan or not & so on.

Let’s find out answers to your endless queries.

First things first, If you are a Salaried employee, Pensioner of Central/State Government/Armed Forces or Self – employed businessmen & professional with a regular source of income then you are eligible to get personal loan from SBI.

Majorly SBI provides loan to the government employees and central PSUs. Not only the bank is a master in providing loan for your personal activities, but it also provides SBI Home Loans & funds for other needs & requirements.

Features & Benefits of SBI Personal Loan

• Low Interest Rates
• Low processing fees starting from 0.50% up to 3% with no hidden costs or administrative charges.
• No security is required to avail loan
• Overdraft facility available
• Repayments can be done through easy Monthly Equated Installments. Check your EMIs with the SBI Personal Loan EMI Calculator in less than a minute.
• Flexible repayment tenure
• Even if you pay more than the EMI, SBI won’t charge any prepayment penalty.

Loan Amount

• The minimum loan amount you can avail starts at ₹ 10,000/-.
• Maximum personal loan that you can get from SBI comes with a ceiling of ₹ 15 lakhs. Loan amount may vary according to your Eligibility, Scheme (Xpress Credit, SBI Saral Loan & SBI Pension Loan) & tenure or time period for which you want the loan.

How to Apply ?

You can easily apply for SBI Personal Loan. All you need to do is visit the official website and apply online.

Steps to follow :-

• Open the official SBI website
• Click on the personal banking section > Personal Finance > Personal Loans
• Click on ‘Apply Now Online’
• Fill the required fields to get loan eligibility approval
• Get your loan offer & Complete your application.
• Alternatively, You can call on the below mentioned numbers
• Toll free number : 1800 11 2211
• Toll free number : 1800 425 3800
• Toll number : 080-26599990

Visit your nearest branch and the executives will guide you further regarding the loan procedure.

Documents Required to avail SBI Personal Loan

When it comes to SBI, it tries to keep the documentation easy and swift for customer convenience. Minimum documents are required. Check the below given list for the same :-

• Duly filled loan application
• Latest Passport size photographs
• Proof of identify (Voters ID card/ Passport/ Driving license/ IT PAN card)
• Proof of residence ( Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)
• Proof of business address for Non – Salaried Individuals
• Last 6 months bank account statements
• Personal Assets & Liabilities statement
• Guarantor’s documents are also required depending on bank norms
• TDS certificate on Form 16 or copy of IT Returns for last 2 Financial years, Duly acknowledged by IT Department & Original Salary Certificate from employer is required for salaried individuals.

₹ 1594.57 Sanctioned for 1.6 lakh Houses in Telangana, Hyderabad

Central Government have finally sanctioned funding for 1.6 lakh houses in Telangana, Hyderabad. The meeting held on wednesday at Nirman Bhavan, New Delhi. Two bedroom housing scheme (2BHK) is sanctioned by the government with the view of providing houses to all eligible urban poor families in Telangana State.
Out of the total houses sanctioned 94,000 houses have been sanctioned to Greater Hyderabad Municipal Corporation (GHMC) alone.
The Government of Telangana has appointed MEPMA (Mission for Elimination of Poverty in Municipal Areas) as State Level Nodal Agency for implementation of Pradhan Mantri Awas Yojana (PMAY) under Housing for All Mission.
Earlier, the Government of India has sanctioned 80,481 Houses in Telangana state under the Telangana Housing Scheme and tied up with 2 BHK Program (2 Bedroom Houses) launched by Government of Telangana.

While the Centre will be giving Rs1.5 lakh for each unit under PMAY, the state would have to spend about ₹ 7.15 lakh each 2BHK house in the GHMC areas and Rs4.30 lakh each for a rural housing unit.
Another 12,197 houses have been sanctioned for 67 urban local bodies such as Shadnagar, Suryapet, Nalgonda, Kodad and Jagityal municipalities. The construction work have already started for more than 1 lakh houses under which the Government will make sure that the basic facilities should be provided to every household with basic amenities.

Draw of Lots Dates Postponed for DDA Housing Scheme’17

DDA has postponed the dates for the draw of housing scheme 2017. The proposed date was supposed to be October but now the draw will be conducted in November at the DDA headquarters under supervision of experts. The dates will be soon disclosed by the authority as nothing is confirmed yet.

The delhi development authority received nearly 41,000 applications for the housing scheme 2017. Before the closing bells, A total of 41,000 applicants under 4 different categories (HIG, MIG, LIG, Janta) were put down. DDA will soon compile all the data and get a detailed structure of the category wise distribution of all the applicants.

The 2017 DDA Housing Scheme will offer 12,000 flats ranging from ₹ 7 lakhs to over ₹ 1.26 Crore spread across Rohini, Dwarka, Narela, Vasant kunj, Jasola, Pitampura, Paschim vihar & Siraspur.

The scheme was launched on June 30, 2017 after a long wait and closed on September 11, 2017. Earlier, the agency had to extend the deadline further due to poor response for the housing scheme.

Rule says that DDA is required to hold the draw of lots within 3 months after the last date of submission. The last date for submission was september 11, 2017 and conducting the draw before 3 months seems a far fetched reality for the authority presently. The draw of lots will be soon declared by the end of the month or in the first week of November.

Click to Know more DDA Aawasiya Yojana

HOW TO IMPROVE YOUR CIBIL SCORE

If you are new to the credit industry and want to take a loan from banks but don’t have a CIBIL Score according to your loan amount requirement, Then read this article carefully.

Here’s everything you need to know about Credit Score, factors affecting your credit score & how to have a good Credit Score.

Let’s first start from the basics.

What is CIBIL & CIBIL Score ?

TransUnion CIBIL Limited is India’s first Credit Information Company, Also reffered to as Credit Bureau. They collect financial report of individuals and commercial units related to loans and credit card. These records are given to the banks and other lenders on a monthly basis and thus helps in developing the credit history of a person.

CIBIL assigns each and every individual with a 3 digit number based on there loan & credit card debt repayments. The score will vary according to the individual loan repayments capacity and keeping a check on whether a person have made any late payments or any EMI defaults.

Banks give Loan or credit based on this CIBIL Score or Credit Score.

CIBIL Score Range

Your Credit Score varies from the range of 300 – 900. This is one way of banks to check your loan eligibility. Let’s first know what these scores means :-

An Ideal Credit score is 750 which means that you are repaying your existing loan and Credit card payments on time.

Anything less than 700 or 750 is considered as a credit history which is less than 6 months and the index is lower and risk is higher.

NEVER BE CREDIT HUNGRY!

Lets just be clear on the fact that being credit hungry can put you in trouble. For example, there are two individual who wants to avail loan from bank. One has a CIBIL Score of 750 and the latter has a score of 950 who have got 3 – 4 credit card and various loans like home loan, car loan & personal loan. Bank will not sanction loan to this person because already he has too many debts to clear.

Thus, not only your CIBIL Score but several other factors will be taken into consideration before sanctioning the loan.

Factors affecting CIBIL Score

Payment history

Multiple credits

High credit hunger

Taking high amount of unsecured loans like Personal loan will reduce your credit score even if you are repaying them on time.

Never use all your credit at once. Decide a necessary amount and utilize the same. For example, use only 80% of your credited amount.

How Credit Score is calculated ?

With higher CIBIL Score you are likely to get loan from any prime lender at competitive interest rates. This CIBIL Score is calculated considering :-

Past performance

Credit type & duration

Amounts owed

Any new credit taken

How to Increase your Credibility ?

By now you must have concluded that loan will be sanctioned to you only when you’ll have a good credit score. Other criteria like the borrower’s age, Income, existing bank account holders, occupation are also important. However, you can improve your CIBIL score by the following means :-

Timely payments of credit card

Maintain a credit mix profile

No need to apply for too many credit cards

Get secured cards

Don’t worry if you don’t have a credit card!

Banks give secured cards which are credit cards against fixed deposits. Unlike normal credit card banks do not issue secured credit cards on the basis of your CIBIL Score. Hence, these cards can be used to improve your CIBIL.

You just have to pay a security deposit against which the bank will issue a secured credit card. You can simply pay your EMIs on time and in this way your credit score will show improvement after 6 months of issuing the secured credit card. Many banks offer these cards on different fixed deposit rates.

Remember that if you need loan 6 months later, you have to issue secured card now and start repaying them on time.

Eligibility

Any Indian citizen having a PAN card & other ID proofs like adhaar card, Voter ID, Driving License can apply for secured cards.

How to check your CIBIL Score ?

To check your CIBIL Score, You just need to fill in your personal details such as Name, Date of Birth, Gender, Residence address, Email ID, Mobile number and you can easily check your CIBIL Score anytime online at any credit agency.

How can you get home loan from State Bank of India

State Bank of India is the leading banking institution which provides financial services to it’s customers. Being an Indian Multinational Bank, It is one of the most trusted bank in the market. SBI has its headquarters in Mumbai, Maharashtra. The bank provides loan for every financial need & requirement at individual basis. It’s products are customized according to the customer’s convenience.

If you are someone who wants to avail home loan from State Bank of India and confused about the procedure then you are at the right place. You can get Home Loan from SBI via easy procedure & attractive interest rates. You can also check your Equated Monthly Installments with Home Loan EMI Calculator on the desired home loan amount and tenure.

SBI offers Home Loan for Purchase, Construction, Renovation or Extension/ Improvement of the new entity for a maximum period of 30 years. On an average, SBI takes 3 – 10 working days for loan disbursement after satisfactory completion of documentation.

Refer to the information given below to know more about Home Loans from SBI.

Also, apply for SBI Home Loan today and get quick loan disbursal. Fill in your personal and professional details to get instant quote and know your eligibility.

Eligibility Criteria

Indian Citizen

The borrower should be an Indian Resident or an NRI to avail the loan up to an age of 70 years.

Your age must be above 18 years or more, at the commencement of loan.

Self – employed or salaried individuals can apply for the Home Loan.

NRIs (Non Resident Indians)

Total work experience of 2 years in India or abroad is required.

NRIs with a job contract for a minimum period of 2 years abroad after completion of 6 months in the employment and presently holding a valid job contract /work permit.

Indian citizens working abroad on assignments with foreign Governments/ government agencies or International/Regional Agencies are eligible to apply for Home Loan.

SBI offers home loan product in different schemes. According to your need. Here are the types of Home Loan provided by SBI :-

SBI Max Gain Home Loan

SBI Yuva Home Loan

SBI NRI Home Loan

SBI Realty Home Loan

SBI Pal Home Loan

SBI Tribal Plus Home Loan

SBI Gram Niwas Home Loan

SBI Flexi Pay Home Loan

SBI Hamara Ghar Home Loan

SBI Privilege Home Loan

SBI Shaurya Home loan

SBI Bridge Loan

Her Ghar Scheme

With all the above mentioned types, SBI Home Loan also offers balance transfer loan & loan against property facility.

Rate of Interest offered by SBI on home loans ranges from 8.35 to 8.60% which is subject to change depending on bank’s terms & conditions from time to time.

SBI charges no hidden cost. Processing Fee is 0.35% of Loan Amount subject to a minimum of Rs 2000/- plus applicable taxes and Maximum of Rs 10,000/- plus applicable taxes

How to apply ?

You can apply for home loan online through the SBI official website or via offline mode by visiting the branch itself.

Alternatively, You can call on 1800 425 3800, 1800 11 2211 or 080-26599990 (toll number).

Security / Collateral

Mortgage of property or Tangible security.

Additional security may be required in case where the house is under construction.

Documents required to avail the loan

Identity Proof – PAN Card, Driving License, Voter ID, Aadhaar Card

Proof of Income – Salaried applicants – Latest 3 month salary slip, Form 16 of the last 3 years.

Self – Employed Individuals – IT returns for the past 2 years and computation of income for the last 2 years as certified by a CA.

Documents required at the time of possession

Original copies of the chain of title agreements and Building Plan approvals

Original registration and stamp duty receipts

Possession Letter

NOC from the Society or any other concerned body confirming that there is no objection to the transfer.

Original share certificate (In case of societies)

Proof of payment of all dues like maintenance charges, electricity bills, phone, water and property taxes up to the date of handing possession.