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Loans

Loans

Loans

KSG Finserve offers Loans assistance from partnered banks which is all about managing client's financial requirements. As part of this service, we often actively try to identify and take advantage of lower interest rate opportunities to benefit our client for smooth loans requirements accomplishment. We provide personal finance requirement management to make funds requirements easily available when it comes to business by providing proper arrangement of funds on beneficial interest rates. We prioritize client's basic requirements by providing end to end assistance in providing any type of loans requirements.

Basic Process

Analyse Client's Financial Requirements

Find out funds at lower Interest rates

Make required funds available

Monthly Report of Installments

FAQs

BUSINESS LOAN

When you apply for a home loan, your eligibility is primarily dependant on your income and repayment capacity. There are also some other factors that will determine your home loan eligibility: Your age, financial position, credit history, credit score, other financial liabilities etc.

Some banks have a lock-in-period of six months to one year for the business loan. While some others allow you to preclose the loan even after the first EMI has been paid.

The duration of a financial plan depends on the goals that it sets out to achieve. It can cover Short term, medium term and long term goals.

Short term goals are normally targeted in a 1 – 3 year framework, for example a vacation abroad
Medium term goals fit into a 3-5 year horizon, for example, buying a home
Long term goals are achieved in a period of 5 years or more, for example retirement planning.

Easiest way to get business loan
Discover how to get a small-business loan in five simple steps.
  1. Decide what type of loan you need. …
  2. Compare small-business lenders. …
  3. Determine if you qualify for a business loan. …
  4. Gather your documents. …
  5. Apply for a business loan.

There is no minimum credit score needed to apply for most loans or credit cards. However, you are less likely to qualify for a loan or credit card and less likely to receive favorable rates when your credit score is low.

HOME LOAN

Your loan eligibility is calculated based on the ratio of your fixed obligations to your monthly income. If your income is less than 30,000, then the maximum obligations cannot exceed 50% of your monthly income. However, for a higher income, the obligations to income ratio can go upto 65%.

Some information you should know about how long it will take for your home loan to be disbursed are: Generally, it takes about 3 to 4 weeks for your home loan to be sanctioned.

Tax Benefit under Section 24B
As per section 24B of the Income Tax Act, you can claim deduction on the interest of the home loan, which is availed either for the purpose of constructing a new house or for the purchase of a residential property. The deduction on home loan interest is allowed on an accrual basis.
 
If you bounce an ECS, you will have to bear the same fines as you would have for a bounced cheque. And this could be as much as Rs 750. Keep in mind that your bank runs an ECS and there isn’t enough funds, bank may run an ECS again at a later date (usually a couple of days), that is after a few days

A husband and wife can be co-applicants even if they are not co-owners of the property. The home loan tenure is decided based on the retirement age of the older partner. The income of both/either of the partners will be considered for determining home loan eligibility..

PERSONAL LOAN

Most banks and NBFCs limit a personal loan at Rs. 25 lakh to an individual. Lenders evaluate the monthly income of loan applicants and the potential growth in it before approving a loan. In most of the cases, individuals are eligible for a personal loan amount of up to 30 times of their monthly income.your monthly income. However, for a higher income, the obligations to income ratio can go upto 65%.

Usually, a personal loan is offered for a maximum of five years by lending institutions such as banks. However, the tenure can vary from lender to lender.

Joint home loans can be obtained by an applicant along with his/her spouse, parents or own siblings. “A borrower cannot take a joint home loan with just any person. Some banks allow brothers to take a joint home loan provided they both are co-owners of the property.
Your loan eligibility is calculated based on the ratio of your fixed obligations to your monthly income. If your income is less than 30,000, then the maximum obligations cannot exceed 50% of your monthly income. However, for a higher income, the obligations to income ratio can go upto 65%.

Most of the terms and conditions are standard fare – amount of money borrowed, interest charged, repayment plan, collateral, late fees, penalties for default – but there are other reasons that loan agreements are useful. A loan agreement is proof that the money involved was a loan, not a gift.

Documents Required for Different Loans

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