Particular Loans – All You Needed to Know

The key attributes are: Deciding On Simple Methods In Loans for Bad Credit
It’s a unsecured loan ideal for any reason Like:

– Education
– Marriage
– Healthcare intent
– Obtain of House or Belongings
– Repay aged loans
– Investments
– Vacations
– Gifts…etcetera.

It can be inconvenience cost-free. No guarantors or security /collateral necessary. Financial loans to salaried & self-employed. Special offers for Professionals like Doctors, Chartered accountants, Engineers, Architects, Company secretaries, MBA’s and many others. Loans are available from Rs. 50, 000/- to Rs. 20 lakh. Repayment options from 12 to 60 months in easy EMI’s. Loans available against surrogate income of any auto, personalized or home loan.

Minimum documentation & fast approval. What are the Various types of personalized financial loans available? Personal loans can be broadly divided into income based and non income based. Income based financial loans are given on the basis of income per month/per year for salaried and self employed respectively. Non income based loans also know as surrogate financial loans are given based on repayment track records of existing personalized loans, car loans, home financial loans and Credit cards from approved banks. Minimum instalments paid/Months on books essential is 9-12 months.

WHAT ARE THE ELIGIBILITY CRITERIAS?
The eligibility criteria for salaried and self employed are:

SALARIED:
Applicant should be Indian citizens working and residing in Mumbai.
Minimum age required is 21 years and Maximum 58/60 years.
Minimum Work Experience-1 month in current company and 3 years overall.
Minimum Net Take Home – Rs. 20, 000/- per month.
Residence-either Owned, rented or company provided.
Telephone/mobile mandatory at residence.
Currently most of the banks are providing unsecured particular financial loans only to employees of Private Ltd , Limited and multinational companies.

SELF EMPLOYED:
Applicant should be Indian Citizens Working and residing in Mumbai.
Minimum age necessary is 23/25 years and Maximum 65 years.
Minimum 3 years experience in same business.
Minimum income Rs. 2. 50 lakh per anum.
Residence/Office -either Owned, rented or company provided. Either residence or office should be self owned.
Telephone/mobile mandatory at residence and office.
Partnership firms , Private Ltd. companies and deemed Limited companies are eligible.

HOW IS ELIGIBILITY CALCULATED?

Different banks have different ways of calculating the eligibility. In the case of Salaried generally most of the banks would calculate eligibility to be 1/1. 5 times of annual income. Factors such as existing personal loan liabilities , average bank balance, track record on existing loans , company profile & mortgage tenure also plays a part in deciding eligibility.
In the case of Self Employed’s the eligibility would depend on the turnover, existing track record, net profit, cash credit /overdraft limit enjoyed, line of business, cash flow, bank statement, existing personal loan liability amongst other things. Generally the financial loan amount is limited at 1. 25 to 4 times of cash profit generated less existing liabilities or a certain percentage of turnover less existing liabilities.