For a Hassle-free SBI Personal Loan Journey Read This

Do you like to shop via your credit card? Are you a travel freak and love to explore new destinations? Willing to live in a beautiful home? Want to drive a stylish and classy car? Well, all this and many more wishes of different individuals can easily be fulfilled with the help of a personal loan. Yes, those who don’t have enough cash/savings to fulfill their goals or wishes in life, for them taking a path of personal loan is surely one of the smartest and best options. But, availing the loan is something which is not everyone’s cup of tea as it requires thorough knowledge and expertise to find the best lender, offering your type of deal. However, to keep you away from that hassle, we are going to tell you which lender is best for you when it comes availing this credit facility.

I am sure you must have heard the name-State Bank of India (SBI), one of the renowned and leading banks of the country, worldwide known for offering the best financial products and services to the people across the globe. So, if we talk about SBI personal loan, it would not be wrong to say that this bank via offering a personal loan ensures to meet your various needs. Yes, be it travelling, medical emergency, wedding, home renovation, credit card debt or could be anything else, this lender caters all your needs in the best possible way. However, let’s get into the detail and discuss the insights of this credit facility being offered by the lender…

Well, let’s just start from the beginning and firstly discuss the most important factor i.e. the interest rates. Yes, the rates are undoubtedly the most crucial yet an important aspect that can either make or break the situation for your loan journey. Go for a lender that offers you the credit at lower rates so that your EMI and interest burden can also be reduced. In order to grab the best deal from a lender, you need to do a thorough research and look out for a lender, offering you the best deal at competitive rates. If the rates are lower, it will automatically reduce your monthly installments and interest outgo as well. Currently, this lender offers the credit at an interest rate of 11.90%-15% per annum to all its esteemed customers.

Next in line is the tenure and loan amount that also matters a lot in your overall loan journey. The bank offers this credit facility for a tenure of upto 5 years by giving the loan of amount upto ₹15 Lakh. You can avail the loan from the bank easily by meeting the eligibility norms. Do check the loan amount and tenure before saying yes to the lender as it is crucial for you to know whether your favorite lender offers the loan amount that you are looking or not so as to avoid the further confusion.

Keeping an eye on EMIs and interest outgo is also an essential weapon that can lead you towards a smooth journey. With the help of an EMI Calculator you can easily know the exact calculations of the monthly instalments that you are going to pay to your lender. These installments should be pocket-friendly and should not harm your monthly budget, and that you can easily know with an Personal loan EMI calculator that actually allows you to plan your monthly budget accordingly.

Another biggest parameter is the fee & charges that you need to look at while availing SBI personal loan. If you have already availed a loan, you must be aware with the fact that there are certain fee and charges that lender usually take from the borrower while processing the loan application further. There is a processing fee, which is nothing but a one-time fee that a borrower needs to give to the lender that usually ranges between 0.50%-1.50% of the loan amount. It is a one-time fee that lenders take from the borrowers, along with the same there are prepayment/foreclosure charges that an applicant also need to pay, if he/she prepays the loan early from the said repayment period.

So, if you keep these key essentials in mind, it would not be wrong to say that availing a loan would be much easier and a hassle-free task for you in the future.   

Grab Maximum Offers on your Purchases through Credit Cards Apply Online

Are you a shopaholic? If yes, then it's the best chance for you to have your own credit card and go for instant online shopping from your favourite merchants which your own bank has collaborated with. Wonderful deals such as  festive offers, reward points, rebates and cashback offers will make you run for not getting far behind of such prestigious purchases.

Your eligibility determines the quantum of limit set by the bank on your credit card which gives you worth for your spontaneous purchases.  So, who doesn't want to miss out on such great opportunity? Instead apply for such Credit card which suits your repayment capacity along with your purchase goals.

Credit Card Eligibility

Check out whether you are eligible for credit card or not. Every credit card category holds varied norms which must be taken into account before you want to possess your own credit card.

• The applicant should be an Indian citizen.
• The minimum and maximum age of the applicant should be in between 21 years and 60 years respectively.
• The minimum net monthly income of an applicant should be in accordance with the criteria set by the bank itself.
• The applicant should possess a strong CIBIL score which is very essential for a credit cardholder.
• The applicant should be employed with a reputed and renowned MNC or any good firm.
• The applicant should give accurate details about his/her professional and personal aspects. In case if your information proves wrong, your application will subject to become rejected by the bank.

SBI Credit Card Apply

Enter 3-step SBI Credit Card Application in order to avail your SBI Credit Card:

1. Choose your own SBI Credit Card from a varied range of credit cards offered by the bank.

2. Fill in your personal details in an application form provided on the website.

3. After verifying your details, the confirmation status will get displayed in front of you on SBI website.

HDFC Credit Card Apply Online

Just check out the following steps in order to apply for your HDFC Credit Card:

• Visit the New Banking website of HDFC Bank. Specify your customer ID when you have had opened an account with the bank.
• Click on the selection of credit cards.
• Navigate through the subsequent steps and this will take up to the application procedure.
• Afterward, fill-up the application form which asks you for the details like your full name, address,  net monthly income, date of birth, employer’s name etc.
• The website will show you the list of all available options which are based on your profile.
• Examine and thoroughly check the benefits, features, annual charges, and joining fees of each card
• Lastly, you will have selected your own card that fulfills all your requirements.

Credit Card Statement Online

The Credit card statement provides you a summarized overview of all your credit card transactions which include the amount you have paid and the outstanding amount which is supposed to be paid by you. This credit card statement is to be sent to every customer on every billing cycle free of cost.

Moreover, you can view your Credit card apply online and to view your current and previous Credit Card statements. Simply login to the portal of your Bank's website and following the below mentioned steps:

• Enter your 16-digit Credit Card number
• Enter your Date of Birth
• Enter your Validity period of your Credit Card
• Click on ' Login'

Credit Card e Statement

Now you have the facility of putting forward your request via email. For placing this request, you are supposed to click on the Credit Card statement E-mail Request service online on the bank's website. Along with, enter the following details:

• Credit Card Number   
• From Date (for which statement is required)              
• To Date                           
• Contact Number along with the STD code    
• Mobile Number                      
• E-mail ID                     

         

All the above fields are required to be filled mandatorily.

Moreover, you have the facility to put this request if you need a copy of your credit card statement only for the past 6 months via email. The statement will further send to your registered email ID. It usually takes only one working day so as to process your request.

Credit Card Apply Documents

The following are the documents which need to be provided by an applicant in order to apply for Credit Card.

• Submit your application form along with atleast one passport size photograph.
• Address proof :  Passport, Ration card, Electricity bill and Aadhar card
• The applicant should possess PAN Card,Form 16 and Income Tax Returns Statement.
• Salary slips/certificate for last 3 months/latest bank statement which provides evidence of your salary credited for minimum 3 months.

Check out HDFC Personal Loan Interest Rate for a smooth loan journey

Dreams inspire us to work harder so that we can achieve them. Some people dream of going to a long vacation to US while others wish to renovate their home sweet home. Some want to throw the best marriage party for their daughter’s marriage while others wish to see their child enrolled in a top foreign university. All our wishes are connected to finance.

There are times when a family member requires a surgery and one has to arrange quick funds for the same. Whatever maybe the situation but the ultimate solution is one- a personal loan. There are many lenders in the market who are willing to give you a personal loan but you must decide the best one for you. HDFC bank offers a Personal loan to salaried employees at an affordable rate of interest. The repayment tenure for the same goes up to five years. Today, I will be telling you about HDFC personal interest rate so that you have a clear idea regarding the interest rate which will be offered to you.

HDFC Personal Loan Interest Rate

HDFC bank offers a personal loan to a salaried employee at an interest rate of 15.75-20% depending on the eligibility and loan amount. The applicant is given flexible repayment options depending on his/her profile. The interest for the loan is calculated on a monthly reducing balance method. You can take a personal loan up to Rs. 15 Lakhs so as to meet your personal requirements. The applicant is also required to pay a processing fee up to 2.5% of the sanctioned loan amount. The minimum and maximum amount that can charged is Rs. 1,000 and Rs. 25,000 respectively.

A thing which should be brought to your attention is that prepayment of loan is not allowed before the loan borrower completes 12 EMIs. so you can only pre-pay your loan after you complete twelve monthly installments. In case, you want to prepay the amount between 13 to 24 months, then you will have to pay a prepayment fee of 4% of the principal amount which is outstanding. If you wish to pre-pay your loan between the tenure of 25 to 36 months, then the charge will be of 3% of the principal amount outstanding.For any kind of prepayment which is above 36 months, the charge is two percent of the principal which is outstanding.

HDFC Personal Loan Eligibility

In order to successfully avail a loan from the bank, the applicant has to meet the eligibility norms. It will be based on the loan requirement of the applicant, the income he earns each month and the profession he is part of.

• The applicant needs to be a salaried individual who falls under the category of employee of public sector undertakings , Chartered Accountant, an employee of private limited companies or Doctor.
• The applicant should be between the age group of 21 to 60 years. This clearly means he/she has to attain a minimum age of 21 so as to secure a loan from the bank.
• Work experience of at least two years is mandatory
• He/she should be employed with the present company for a minimum of one year
• The minimum net income should be at least Rs. 12,000.
• For people living in cities like Mumbai, Delhi, Bengaluru, Cochin, Pune, Kolkata, Hyderabad, Chennai and Ahmedabad the net monthly income needs to be at least Rs. 15,000.

Documents Checklist

The list of important documents for a HDFC personal loan has been given below. Do have a look at them-

• Identity Proof- photocopies of Voter ID Card/Driving License/Passport
• Residence Proof- photocopies of Telephone Bill/Ration Card/Passport/Rental Agreement/Electricity Bill
• Income Proof- Latest salary slip along with a salary certificate which is current dated with latest Form 16
• Bank Statement of the previous three months or passbook statement of six months is needed

It is very important for you to get the best HDFC Personal loan interest rate in order to have a smooth and tension free loan journey. So check out if you are able to match the eligibility criteria given above. If yes, then approach the bank today itself for the best deal.

Check out ICICI Personal Loan Interest Rate for a Smooth Loan Journey

A personal loan has turned out to be the best option to fulfil our personal needs and wishes. You can avail a personal loan to meet any of your dreams or needs. Planning to go to a long vacation to Paris but don’t have the required funds? There is no need to worry as you can take a personal loan from ICICI bank and realise your dream. Whether it is for a marriage function of your daughter or a sudden medical emergency in the family, ICICI personal can always take you out from the situation.

In case you want to send your child to abroad for higher education or want to renovate your house, you can always approach the bank for a personal loan. Those who are postponing their plan to buy their favourite gadget can avail an ICICI personal loan and realise their wish.

The bank offers a Personal loan to both salaried employees and self-employed individuals for a tenure between one to five years. Salaried employees, self-employed people and doctors can obtain a maximum amount of Rs. 20 Lakhs, Rs. 30 Lakhs and Rs. 40 Lakhs respectively. The applicant is not required to furnish any kind of security with the bank. All said and done, it is very important to secure the best interest rate from the bank in order to have a hassle free loan journey. Through this article, I will be informing you about ICICI personal loan interest rate.

ICICI Personal Loan Interest Rate

Any applicant who wishes to secure a personal loan must ensure that he/she gets the best interest rate from the bank. The interest rate you get from ICICI will depend on your profile, income, age, repayment capacity and profession. ICICI personal loan interest rate starts from 11.29% and goes up to 22%. You must have a strong CIBIL score in order to get the loan at the best rate possible.

The bank also charges a processing fee up to 2.25% of the sanctioned amount along with the service taxes applicable. In case, you want to prepay the loan you can do so by paying a prepayment charge of 5% of the principal amount which is outstanding. Service tax will also be charged on the same.

ICICI Personal Loan Eligibility

The eligibility criteria for the personal loan product has been mentioned here. Any interested applicant has to fulfil them in order to get a loan from the bank.

Salaried employee:

• The applicant should fall in the age group of 23 to 58 years. It clearly means he/she should be at least 23 years old while applying for a loan and must not be above the age of 58 when the tenure expires.
• He /she needs to earn a monthly salary of at least Rs. 17,500. In case of residents of New Delhi and Mumbai, the income should be Rs. 25,000. For people living in Chennai, Pune, Kolkata, Bengaluru and Hyderabad, the income should be at least Rs. 20,000.
• The working experience of the interested applicant should be at least two years
• He/she should be working with current employer for period of at least one year

Self-employed Individuals:

• The applicant should fall in the age bracket of 28 to 65 years. In case of doctors, the minimum age is 25 years
• A non-professional must post a turnover of at least Rs. 40 Lakhs and a professional  must have turnover of a minimum of Rs. 15 Lakhs
• The minimum profit after tax for non-professionals should be Rs. 1 Lakh and for self- employed/proprietorship firm it should be Rs. 2 Lakhs
• They need to be employed in their present business for a minimum period of five years. In case of doctors, it is three years
• A minimum of one year of liability or asset relationship with the bank in the past 36 months is required.

Documents Checklist

The list of important documents required for an ICICI personal loan has been given below-

Salaried employee:

• Identity Proof:- Aadhar card/Driving License /Passport /PAN Card/ Voters ID card
• Two Photographs of Passport size
• Proof of Residence:- Utility Bill / Passport/Leave and License Agreement
• Bank Statement of the past three months in which the salary is credited
• Salary slips of the past three months.

Self-employed Individuals:

• Proof of Identity- Aadhar card/PAN card/ Passport/Voter ID card
• Address Proof- Utility Bill / Passport/Leave and License Agreement
• Proof of Age- Passport/Birth certificate/ High school marksheet
• Bank statement of the previous six months
• Proof of continuity of business.
• Proof of Income-  Audited Balance Sheet and Profit & Loss account of the previous two years
• Proof of Office address
• Proof of office ownership.

ICICI Personal Loan Status

The applicant can track his/her application status by visiting the official website of ICICI bank. There the applicant can check the loan application status by entering either his reference number or form number. Once, he/she clicks on the submit button, the application status will be displayed on the screen.

I believe you must be well versed with ICICI Personal loan interest rate and other important information about the product. In case, you are eligible you can approach the bank for a personal loan.

Kisan Credit Card Loan: A Major Step Towards Agricultural Growth

Kisan Credit Card Loan is a scheme provided by the Government of India to allows easy and accessible cash loan facility to the farmers across the nation. All the crop loans are usually disbursed via the Kisan Credit Card Loan scheme by all the banks. This scheme is functional throughout the nation and is implemented by all the commercial banks, RRBs and cooperative banks.

The Kisan credit card scheme can be availed by small farmers, marginal farmers, share croppers, oral lessees and tenant farmers. Read on to know more about this product!

Kisan Loan Scheme: Salient Features

Here are a few salient features of the Kisan Loan Scheme to help you know more about it. Take a look!

• Under this scheme, the eligible farmers are provided by the Kisan Credit Card along with a pass book or a card-cum-pass book.
• This scheme provides the farmers with the facility of revolving cash credit facility including multiple drawals and repayments but within the allowed limit.
• The credit limit for each individual is decided on the basis of scale of finance, operational land holding and cropping pattern.
• During the fixation of this limit, the entire production credit needs for the entire year along with ancillary activities related to crop production is considered.
• The sub limits of the scheme are decided by the bank to cover the short term, medium term and term credit facilities.
• Any Kisan Credit Card that is valid for about 5 years is subject to annual review. As a benefit of good performance and financially responsible behaviour, the credit limits would be increased to cover increase in production costs, change in the farming pattern and other such needs.
• Every drawal is to be paid within the maximum time limit of 12 months.
• The scheme provides with an advantage of reschedulement or conversion of loans in case of a bad crop caused due to natural calamities.
• The rate of interest, margins and security is decided as per the norms of RBI.

Kisan Credit Card Loan Advantage:

The following are the advantages of the Kisan Credit Card Loan:

• Simple disbursement procedures.
• Takes care of rigidity pertaining to cash and kind.
• No need to apply for a different loan for every crop.
• Assured credit availability at any time.
• Lower interest rate.
• Allows the farmer to spend the money as per his/her convenience at choice.
• Allows the farmer to buy on cash-avail discount from the dealers.
• Allows the credit facility up to 3 years.
• Allows maximum credit facility on the basis of agriculture income.
• Limitless withdrawals on the basis of the credit limit.
• Repayment of loans only after the harvest is done.
• Ensures availability of adequate and timely credit to farmers.
• Ensures flexibility to draw cash and procure inputs.

Kisan Credit Card Documents Required:

The following documents are required for availing the Kisan Credit Card:

• A duly filled and completed application form
• Proof of Identity (Voter ID/ PAN Card/ Driver’s License/ Aadhar Card/ Passport)
• Proof of Address (Voter ID/ PAN Card/ Driver’s License/ Aadhar Card/ Passport)

Kisan Credit Card Loan Eligibility

The following eligibility criteria is followed for availing the Kisan Credit Card Loan:

• All farmers are eligible for this facility including the individuals as well as the joint borrowers who are owner cultivators.
• Tenant farmers are also eligible for this facility along with the oral lessees and share croppers.
• SHGs and Joint Liability Groups of Farmers can also avail this facility.

Kisan Credit Card Loan Credit Limit

The Kisan Credit Card Loan Credit Limit is fixed as per the time limit for which it is taken.

• The credit limit for short term credit is fixed for the first year on the basis of:
• The cultivation of crops according to the scale of finance and suggested cropping pattern.
• Requirements for the crops after harvest and for household and consumption
• Expenses for maintenance of insurance of crops, farm assets and PAIS (Personal Accident Insurance Scheme)
• The short term credit limit will be increased by 10% with every successive year.
• Crops for which the credit is sought should be covered under the Crop Insurance Scheme- NAIS (National Agricultural Insurance Scheme)
• The requirement for collateral security is waived off for credit limit up to  ₹ 1 Lakh and up to  ₹ 3 Lakhs with a tie-up arrangement for recovery.
• No processing fee is charged for the loan amount up to  ₹ 3 Lakhs.
• Kisan Credit Card account functions as a revolving account. Hence, any balance in the account would fetch interest rates as per the savings bank rate.

Kisan Credit Card Interest Rate

• Rate of interest and requirement of collateral for crop loans:

The crop loans up to the amount of ₹ 3 Lakhs is disbursed at the interest rate of 7% per annum. An interest subvention of 3% per annum to the farmers who are prompt at repayment is provided by the Government of India. This lowers the interest rate for them to 4% per annum. As per the norms of RBI, no collateral security id required for the crop loan up to the amount of ₹ 1 Lakh. For the loan amount above ₹ 1 Lakh, the kind and amount of collateral security required is decided by individual banks in accordance with the norms of RBI. The crop loans amounting more than ₹ 3 Lakhs are disbursed at the interest rate that is defined by the RBI and other conditions that are approved by the RBI Board.

• Rate of interest for post-harvest storage loans:

The post-harvest storage loan is granted to the farmers at commercial rates. The government provides the facility of interest subvention for the post-harvest storage loans to the farmers to discourage the practice of distress sale and encourage the practice of storage of crops and warehousing.

Kisan Credit Card Interest Rate Calculator

Credit card interest rate calculator is a highly useful tool as it would ease the process of interest rate calculation thereby giving out the amount of monthly EMIs that the loan applicant will have to repay towards the loan amount. All that the loan applicant needs to do is feed-in the loan amount desired by the applicant, rate of interest decided by the bank and the loan tenure that the applicant prefers. By calculating on the basis of these figures, the tool will churn out the monthly installments that are payable by the loan applicant for the entire loan tenure. The benefit of this tool is that, the applicant can go on changing the figures and deriving the values till the time he/she is satisfied with the result and is ready to take the plunge.