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Showing posts from September, 2019

What is the process of applying for a home loan?

This is a simple process: 1.       Check your credit score 2.       Generate your income statements. 3.       Visit the Bank/NBFC, fill the form and check home loan eligibility 4.       Bank will finalize the loan amount, tenure, interest rate and EMI. 5.       After you accept the offer, sign the loan form. 6.       Loan amount will be disbursed in few working days. 7.       Post one month, you will start paying the EMI until the tenure ends. So as you can see, this is a simple list of steps which you can follow and get a Best home loans . Following this will give you the desired result. Why we kept the 1 st point as credit score check is plainly because your score is very important. A better score will mean higher loan amount and lower interest rate. Hence you must not only maintain your credit score but also try to increase it as much as you can. That’s when the whole loan process will be simplified for you. So if you think you deserve a

What happens if a financed car is stolen?

Three things: 1. Report the crime. 2. Get your insurance papers and apply for claim. 3. Follow up with the police until you get your car back. If the car which was stolen was purchased with cash or bought through a   used car loan , you must report it with the police. This is because it is important while you submit for insurance claim. Second, if you have already applied for insurance that’s a good thing. Get all your financial information and documentation that will be needed for insurance claim. A car can be stolen and there is not much you can do about it apart from filing a complaint and claiming insurance.

Can I Get a Car Loan using my credit card ?

Yes. You can get a car loan using a credit card. But you must ensure that you will need to have a credit limit which is higher than the value of the car that you want to purchase. Ideally, you can get loan amount which is 5 times your credit limit. There are many factors which you will need to understand: 1.       There will be minimum paperwork on loans taken via credit card. 2.       You can instantly get the loan approved and purchase the car of your choice. 3.       The interest rates will be higher than all of the car loans provided by Banks. 4.       If you default or make late payment this will impact your credit score. 5.       You will also be charged extra fees for late payments. Our verdict: While getting a loan against credit card is possible, we do not suggest you to do that. Plainly because the interest rates are very high and with each late payment you will be paying a lot of money. Doing this on your credit card will get yo

How Do I Apply for a Personal Loan?

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You can apply for a personal loan in 2 ways i.e. Online or Offline. Offline: You can walk into the bank where you hold an account. After visiting the bank you can tell them about your requirement. You must let them know about Personal loan amount you require and discuss about how much EMI you can pay. The Bank will then check your credit history and accordingly give you a good deal. The paperwork in such cases is very minimal as the Bank already has all your personal and financial information. Since you are visiting the Bank for the loan where you hold an account, you might be able for a relationship discount. The Bank might also offer you some additional benefits. Online: You can log on to websites of different Banks online. Once you visit the website, you will have to fill a form with your name, contact number, email and loan requirement. The Bank will receive your information and will give you a call to understand your requirement. They will need some docum