For all those times when you need access to funds quickly and without providing any security, a Personal Loan is your answer. Personal Loans are quick and easy unsecured loans given to individuals on the basis of their profile i.e. income, nature of employment, years of work experience etc. Such loans, unlike property based loans or car loans do not require the borrower to give any kind of security or collateral to the bank. Most banks do not question the purpose for which the loan is required, but you would still be required to state the purpose on the application form. Lenders do not allow these loans to be taken for speculative purposes like investing in stocks or gambling. This product is mostly for salaried individuals. Personal loans are currently offered up to 40 Lakhs and are typically repaid in tenures ranging from 1 to 5 years. They are usually processed and disbursed within 3-4 days. These loans are definitely costlier, given that the bank has no security to fall back on in the event a borrowers are unable to pay their installments on time. It is the product of choice when funds are required urgently or the borrower has no security to offer the bank.

Your eligibility is determined after looking at the following: Your current monthly salary Years of work experience Nature of your job and the company you work for Your current obligations i.e. the installments (EMIs) you are currently paying, your credit card balance, other credit limits availed Your credit history

Most lenders do not require a co-applicant to grant a Personal Loan. Some institutions might ask for a guarantor prior to sanctioning a personal loan, especially for younger individuals and those with inadequate work experience.

Determine your Loan requirement and your eligibility - This differs from lender to lender and depends on various factors like your age, income, profile, past credit performance etc. At mymoneymantra, we make this simple. Our Personalized eligibility check, will help you check your eligibility across several lenders in a few easy steps. Do so now! Apply for the Loan with the lender of your choice by filling the application form of the lender and providing all requisite documents. Our team will meet you at your convenience and help you in choosing the lender best suited for your requirements, completing all documentation requirements and getting your application logged in with the lender. All this comes at NO COST to you as our partner banks pay us for our efforts in this regard. Verification/Credit Appraisal Process - The lender will verify the information and documentation provided along with checking your credit history. The lender can also ask for additional documents. Accept the terms and conditions of the approved personal loan before proceeding to the next step. Sign the Loan Agreement and provide repayment instructions. Disbursal of Loan- Our Personal Loan specialist will assist you all the way. No need to worry, as we are just a phone call away at all times. We will be happy to hear from you even after the loan has been disbursed, if you would like to get any help or clarification regarding your loan.

The term Business Loans is fairly generic and there is a vast spectrum of the different types of finance options that a business can access. However, in the current context, under Business Loans we are largely referring to unsecured income-based loans for self-employed individuals or companies. Unsecured business loans have no requirement for a security or collateral to be submitted and are offered purely on the current financial strength and past credit record of the borrower. Such loans can extend from 50,000 to 3 Crores and have a repayment period of 1-5 years. They are ideal for businesses looking for funds for capital expenditure, business development, expansion, short-term cash flow mismatches etc. They are not as flexible as overdrafts and other credit lines which usually support day-to-day working capital requirements but given the unsecured nature of the product, they are relatively easy to avail with simple paperwork and speedy processing. Most importantly the borrower does not need to lock in any asset or security as collateral. However, that also means that Business Loans are usually costlier than other forms of secured business finance.

Your eligibility is determined after looking at the following: Last 2-3 years business financials Years in business and current level of business activity Nature of the industry the business operates in and how that industry has fared in recent times The current level of obligations of the borrower i.e. the other installments (EMIs), credit limits and other types of finance the business entity may have The borrowers credit history

Determine your Loan requirement and your eligibility - This differs from lender to lender and depends on various factors like your age, income, profile, past credit performance etc. Apply for the Loan with the lender of your choice by filling the application form of the lender and providing all requisite documents. Our team will meet you at your convenience and help you in choosing the lender best suited for your requirements, completing all documentation requirements and getting your application logged in with the lender. All this comes at NO COST to you as our partner banks pay us for our efforts in this regard. Verification/Credit Appraisal Process - The lender will verify the information and documentation provided along with checking your credit history. The lender can also ask for additional documents. Accept the terms and conditions of the approved business loan before proceeding to the next step. Sign the Loan Agreement and provide repayment instructions. Loan Offer letter - Post submission of all requisite documents and completion of the credit appraisal process, the lender sends an offer letter with details like loan amount, tenure, rate of interest and other terms and conditions. Disbursal of Loan- Our Personal Loan specialist will assist you all the way. No need to worry, as we are just a phone call away at all times. We will be happy to hear from you even after the loan has been disbursed, if you would like any help or clarification regarding your loan.

Buying a house is perhaps the most fundamental aspiration for most people. In today?s time, making this dream a reality has become really easy, thanks to the variety of Home Loan options available in the market. So whether it is the first home that you are looking for or the second, whether it is for you and your family to live in or simply to make an investment for the future, Home Loans make it possible. So what exactly is a home loan? A home loan is a type of loan where the consumer borrows money from a lender, to purchase a residential property and offers the same property to the lender as a security.

Purchasing a property within a residential development which is currently under-construction Purchasing a ready property, from a builder or its current owner Purchasing a plot in a private development, from a current owner or from a government development authority Financing the construction of your house on a plot you already own Purchasing a plot as well as financing the construction of your home on it.

Most banks lend as per the under-mentioned grid, provided the borrower can demonstrate the ability to repay the loan amount. Loan amount % of Cost of Property a) Up to 25 Lakhs 90% b) More than 25 Lakhs & up to 75 Lakhs 80% c) Above 75 Lakhs 75%

Got that business idea you need funding for? Do you need to invest in your business expansion? Do you just need relatively cheap funds for any purpose? If you have a loan-free property then probably a Loan Against Property is the answer for you. Popularly known as LAP, these loans are a convenient means to access funds at interest rates lower than personal loans or other forms of unsecured loans. To avail such loans, you offer an existing property as a security or collateral against which the lender gives you a loan. The current market value of the property determines how much loan you can avail against the property. Such loans allow the owners of properties to leverage the value of their existing properties to raise funds for a variety of reasons. The lender will also check for repayment ability of the loan being availed.