Home Purchase/ Construction/ Renovation
Home loans are very commonin the present decades considering the economy and government policies promoting home buyers. First investment for newer generations have been a dream home. Reasons for investing in home is a financially cautious decision for creation of asset and enjoy additional benefit by way of appreciation in land value.Home loansarebeing used for purchase of new assetsor constructionoreven for renovation work of existing house. These kinds of loan come under housing segment and beneficiary will get maximum tax benefits from existing income tax rulers50
Home Refinance / Mortgages
This refinance and mortgage program is for you to meet out contingency expenses of family like festival expenses, medical expenses,child educationand miscellaneous expenses incurred within family. Most of the public areusing this scheme for financial assistance in an emergency situation.
Debt Consolidation
Debt consolidation means all loans ofa customer can be merged.All the liabilities of a customer can be merged in one single loan, mainly to reduce monthly commitments being paid to various loans.So,debt consolidation will always be the best solution for large borrowers instead of paying multiple mini loans. Most of the high debts borrowers are using this facility to reduce their monthly commitments and ensuring that loans are repaid paid by singleEMIto single bank
NRI Home Loans
NRI home loans isa way of investment by way of creation of assets in India for NRI themselves or for their family.NRI loans are also having all benefits applicable to house loan borrowers in India. NRIs prefer to invest in homes where they will get monthly rental income as well return by way of property value increase. It is a good and ideal investment for NRIs.
Plot Loans
Anyone looking for a second investment after primary residence or anyone looking to invest on higher value homes and intending to do temporary investment can avail this loan. Applicant will enjoy the benefit of increasing market value of land and the plot can be later used for construction in future at any point of time whenever necessary
Reverse Mortgage Loans
Parents / senior citizens who are not willing to be dependent on their legal heirs for daily needs and who are not willing to let go of the family property until their lifetime usually opt for this scheme.This loan is applicable to the age group of more than 60, where they can receive a monthly income for day-to-day survival.The property owner or spouse is eligible to avail this loan for their own expenses. In future after their lifetime, their legal hairs can be repay the loan and regain the property from banks; by paying balance liability to the concern banks or NBFCs. Most of the senior citizens prefer this type of loan instead of asking monetary assistance from their legal heirs and to create a survival will be their own after retirement age.
New Car Loans
Cars as an automobile segment have grown to be a part of the comfort level needs for most of the income groups. New car loans are hence the improving sector in retail segment. This loan is also charged at a minimum interest rate like housing loan. In some institutions, car loan is given as additional loan to the housing loan borrowers as an add on facility. Some institutions are also extending repayment period up to 7 years, where EMI can be very cheaper and the repayment capacity of common people.
Used Car Loans
Used car loans are being availed for the business or contingency purpose of middle-class families to liquidate immediate money sources. Car loan repayment period may be extended up to 5 years from the date of purchase of the existing car, interest rate will be slightly more than compared to new car loans
Gold Loan for purchase / Mortgage
Predominantly, gold has been a major source of liquid investment for generations.Gold loan b mortgage or for purchase are generally availed to meet out immediate needs like investment for agricultural, education,business and family expenses. Some institutions are extending cash credit facility against gold which will be permanent cash credit limit and only interest will have to be paid during the tenure. Agri segment gold loan can be repaid from 6 months to maximum 5 years depending on their purpose of usage.