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How to borrow right Personal Loan from BanksA personal loan is the most popular loan offering in the retail loan market due to the various advantages it poses. It is generally an unsecured, collateral-free loan, with quick approvals and speedy disbursals. One of the major advantages of a personal loan is that the loan amount could be used for any legitimate purpose—the end use is not restricted, making it one of the most flexible loans in the market. Everyone could do w
What is Cash Credit Loan?A cash credit loan is a short-term source of finance, having a tenure of up to one year. Under the short-term finance option, the bank offers its applicant to take a loan up to a certain limit depending on their credit history.This type of loan is extended to businesses and companies to fulfill their working capital requirement. This allows the customer, typically a business or company with a proven track record of profit, to withdraw money which
What Is Term LoanTerm Loans are loans offered to businesses for their expansion, capital expenditure and for fixed assets. These are generally short-term loans, having a tenure of up to 5 years. These short-term finance options are structured in a way that it meets your business finance needs. Depending on the lender, your repayments can be scheduled to match your available cash flow.Term loans can also be sanctioned for the project or non-project loan.
Loan Against SecuritiesWith a loan against securities, you can get the flexibility of liquidity and access to cash when you need it, without selling off the same. Securities can be in the form of mutual funds, shares, life insurance policy, etc. This loan product is an overdraft facility that can be secured against your investment portfolio.Eligibility• Resident Indians and NRIs above the age of 18 are eligible for a Loan against M
What is a Life Insurance Plan?A life insurance plan can be defined as a contract between you and your insurance provider, where your insurer promises to pay a specific amount of money in exchange for a premium in case of your untimely death or after a specified period. There are several advantages of taking an LIC policy:1. Apart from providing your family with the financial buffer, a life insurance can also be an investment choice. There are several life insurance po
What Is an Instalment Loan?Definition: This kind of loan is often extended to proprietors, partnership firms, private limited companies, and professionals. Business Instalment Loan is generally an unsecured and collateral free loan that is granted to businesses with a certain turnover.A Business Instalment Loan could potentially help your business generate more revenue by fulfilling your business requirements, be it a requirement of working capital, funds for business exp
Government Loans for Small BusinessesAre you searching for government schemes to help finance your small-scale business in India? The main hurdle for any entrepreneur or for expanding an existing venture is the financing part. Though the small and medium enterprises make the backbone of Indian economy, most of the SME owners face a lot of problem due to the non-availability of credit. Additionally, a lot of lenders ask for collateral security which not many first-time SME owners
What is a Corporate LoanIn very simple terms, the loan market is broadly divided into two categories:• Retail loans, and • Business LoansLoans given to individual consumers are called retail loans. Personal loan, home loan, auto loan, student loan, gold loan, credit cards, loan against property etc., fall under the category of retail loans. They can be further categorized into secured loans and unsecured loans.Busi
What is bridge loanBridge loan is a type of gap financing where the borrower can get access to liquid short-term loans for meeting short-term cash requirements before getting a more permanent source of funding. As the name suggests, bridge loans help in bridging the gap between short-term cash requirements and long-term loans. It is called a bridge loan because it serves as a bridge between two periods of funding, the second one being the more permanent source of funding.
Loan for Beauty ParlorA plethora of loan options are available for entrepreneurs who wish to open their own beauty parlors. As more and more aspire to be entrepreneurs, those who want to run a beauty parlor are faced with an array of options. Give wings to your dreams—there is no limit to how high you can fly.For instance, Oriental bank of Commerce offers women entrepreneurs who wish to foray into this field with short term financing to purchase equipment and set up the
Animal Husbandry LoanWhat is Animal Husbandry?Animal husbandry is the science of breeding, management and caring for farm animals. It also includes selectively breeding and raising livestock for profit. The backbone of India's economy is Agriculture, and Animal Husbandry is an inevitable part of it. To boost the development in this area, several lenders offer loan for Animal husbandry and allied activities.Purpose of the loanA loan is provided
Reverse Mortgage LoanWhat is a Reverse Mortgage Loan?Simply put, a reverse mortgage is the opposite of the standard home loan. A reverse mortgage enables a senior citizen to receive a regular stream of income from a lender against the mortgage of his home. The borrower, i.e., the one pledging the property, continues to reside in the mortgaged property till the end of his life and receives a periodic payment on i
SME Loan - Purpose of the loanDefinition: SME loan is basically funding of small and medium-sized business enterprises.Purpose of the loanThe SME Loan provides a single line of credit for meeting the borrowing needs of SME. It can be used as a working capital as well as for long-term requirements. It is approved after considering the nature of business, cyclical trends, cash flow projections, and peak time requirements.Eligibility
Tractor Loan - Purpose of the loanDefinition: Tractor Loans are loans taken out by farmers or businessmen to buy new or pre-owned tractors. Read on to know more!Purpose of the loanWhether you are a farmer or a businessman, you can avail a Tractor loan for agricultural or commercial purposes. If you are a farmer, you must own a minimum of 3 acres of agricultural land (varies from lender to lender).Features of tractor loan• No secu
Personal loan for travelA personal loan is generally an unsecured loan—meaning no collateral or guarantor is required in order to obtain it. As the name suggests, it is a loan taken by an individual to fund any personal expenses like, for example, a wedding, to remodel the home or even for a luxurious vacation.Many people yearn to travel unknown places and mark the unexplored places in the world. Some travel to experience different cultures, while some travel just to ta
Small Business Loans for WomenThe number of women involved in business activities in India has increased tremendously in the last couple of years. To help women entrepreneurs, government and private sector banks have come up with many schemes that enable women to realize their dreams. Managing the cash flow in any business is unarguably the most important component. For most small businesses, timely access to credit is the key to keeping the business afloat. But how
Loans for WarehouseA warehouse is typically a large building where raw materials or manufactured goods (for example clothes, automobile parts, etc.) are stored prior to their distribution or sale. A Warehouse loan is given to individuals, Public & private limited concerns, APMCs, dealers, traders, co-operative societies, and joint sector companies in public or private sector for construction and running of warehouse units designed to store agriculture produce and a range of othe
Working Capital LoanA working capital loan, as the name suggests, is taken out by companies to finance their everyday operations. Working capital loans are used for short-term expenses, to cover accounts payable, wages, and other day-to-day expenses. These loans are not used to buy long-term assets or investments.These loans are an excellent way for businesses to focus on their growth and generate more revenue. Over the years, working capital loans have become popular in
Cold Storage LoanCold storage is basically a term which refers to frozen storage facilities, usually used to preserve food -- vegetables, meat -- or used to store pharmaceuticals. Cold storage could be as simple as a small walk-in freezer or it could denote a 200,000-sq. ft. warehouse. It could be a refrigerated mobile trailer or a cargo container to go on ships.Cold storage of perishable produces is important -- as perishability is directly responsible for price fluctuat
Dairy Farm Business LoanAre you looking for funds to fuel your dairy farm business? Opting for a loan to fund your business is better as it is never advisable to break your savings to start a venture. Most often, a budding business man is strapped of funds to start his venture. This is where a Business Loan for a Dairy Farm could help you.Opting for a loan to fund your business is better as it is never advisable to break your savings to start a venture. Most often, a budd
Higher Education Loan50 Lakh rupees. That's how much Venkatesh paid to study from one of the prestigious universities abroad. And that was just the admission and tuition fee. Factor in the expenses for food, accommodation, travel, and other miscellaneous expenses, Venkatesh's entire cost for an MBA of two years came to a grand total of about 1 crore rupees.An increasing number of Indian students are aspiring to pursue higher education abroad, or get into premier unive
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