Personal loans,Home loans,Business loans,Loans against Property

Personal loans,Home loans,Business loans,Loans against Property: Some Commonly Asked Questions About Home Loans

2011-12-03T01:55:00.000-08:00

Personal loans,Home loans,Business loans,Loans against Property: Some Commonly Asked Questions About Home Loans

Some Commonly Asked Questions About Home Loans

2011-12-03T01:53:00.000-08:00

Some of the common home loan terms that one encounters while applying for a home loan. While the same are common terms amongst lenders they could be brain teasers some times.

What is an EMI?

An EMI refers to an equated monthly installment. It is a fixed amount which one pays

every month towards the loan. It comprises of both, principal repayment and interest payment.

What is pre-EMI interest?

In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.

What is Fixed ROI?

Fixed ROI stands for the Fixed Rate of Interest. The rate of interest remains unchanged for the entire tenure of the loan irrespective of the drop/increase in the market rates.

What is Floating ROI?

The Floating Rate of Interest is one that fluctuates according to the market lending rate.

This comes with a little risk as in when ever lending rates go up, the loanee will have

to pay more than the amount set aside for loan payment per month.

What is PF?

PF is the processing fees and has to be paid upfront by the customer being fees charged at the time of submission of the application for processing

What is IIR?

IIR is Installment to Income Ratio and denotes the portion of your monthly installment on your home loan as a percentage of your income. The same is capped between 40% to 60 % of income subject to applicant's income & profile.

What is IC?

Whenever a customer delays the payment of the monthly installment, a collection team is sent to the customer's house to recover the money. The expenses incurred on such occasions are called Incidental Charges (IC)

.What is LTV?

LTV stands for the Loan to Value and is used to calculate the loan amount that a person is eligible for on the total cost of the property.

What is Margin Money?

Banks & NBFC fund around 80% to 85% of the cost of the house. The balance 20% to 15% has to be borne by the customer himself. This difference amount is called the Margin Money.

For what purpose can I avail a home loan?

You can take a loan for constructing a house, purchasing of a ready possession house / flat

or a flat in resale, takeover of existing loans from approved banks / housing finance companies, the purchase of a plot of land, for renovation of and extension of the house.

Who can avail of the loan?

Salaried individuals, Self employed professionals or businessmen and individual NRI's.

Who can be a co-applicant for the loan?

All co-owners need to be co -applicants.

Spouse/parents/children can be co-applicants and his / her income can be clubbed to

enhance the loan amount.

What security is to be provided?

Security for the loan is a first mortgage of the property to be financed, by way of deposit of title deeds / or such collateral security as may be necessary. The title to the property needs to be clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to affect the title to the property adversely.

Can loan be repaid ahead of schedule?

Yes, the loan can be paid ahead of schedule, however if the loan is pre paid or transferred to another bank or HFC, a nominal fee @ 2% of principal outstanding is charged

Are the Bank policies subject to change?

Yes. These policies are reviewed periodically.

How is the loan repaid?

An EMI refers to an equated monthly installment. It is a fixed amount which one pays every month towards the loan. It comprises of both, principal repayment and interest payment.

When does the repayment start?

EMI payments start from the month following the month in which the full disbursement

has been made.

What happens in case if a PDC bounces?

In the case of a bounced cheque or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy.

What is the minimum /maximum loan amount?

Home loan are available from 5 lakh to 5 crores.

What is the time frame for a loan to be approved?

It takes a 7/10 working for the loan to be sanctioned after submission of all all documents.

When is the loan disbursed?

The loan will be disbursed on:

- Submission of the legal documents.

- Legal and technical clearance of the property

- Submission of Registered copy of agreement.

What is an amortization schedule?

An amortization schedule is a table giving the reduction of the loan amount

by monthly installments. The amortization schedule gives the breakup of every EMI

towards repayment of interest and outstanding principal of loan.

The Author Subhrajeet Talukdar is the founder of Apex Finance & Marketing in Mumbai in April 2006 and the promoter of Eazeeloans.com a loan advisory portal for Personal loan,Home Loan,Business loan,Loan against Property,working capital, Private finance etc

Contact Information

Phone: 91 22 26833045 E mail: info@eazeeloans.com Website: http://www.eazeeloans.com

Abolishment of Home loan Prepayment Penalty

2011-11-30T09:36:00.000-08:00

The much eagerly awaited thorny issue of prepayment penalty on Home loan foreclosure has finally found some succor by the announcement from NHB –National Housing bank a wholly owned subsidiary of The Reserve bank of India and a regulator for all housing finance companies that no HFC shall be allowed to charge prepayment penalty on home loans on floating rate of interest whether from own funds or take over by any bank.
This would apply to home loans on fixed rate prepaid from own funds but not on loans taken over by other HFC. Currently most of the HFC charges a pre penalty of 2% on foreclosure whether from own funds or takeover. This decision was taken at the Banking Ombudsmen conference held recently.
One more issue was resolved by the decision by the NHB to implement same floating rate of interest for new as well as existing customers already on board. Currently banks were implementing a differential rate of interest for old and new customers.
Axis bank, Bajaj finance and SBI have already announced their acceptance of the new policy roll out and all the other players are expected to follow soon.
Effect of the new policy and its implementation on mortgages is awaited keenly.

Personal loans,Home loans,Business loans,Loans against Property: Another Milestone Achieved By Eazeeloans

2010-07-16T11:53:00.000-07:00

Personal loans,Home loans,Business loans,Loans against Property: Another Milestone Achieved By Eazeeloans

Another Milestone Achieved By Eazeeloans

2010-07-16T11:51:00.000-07:00

In just under a year since the achievement of its first milestone in Aug. 2009 the start up loan advisory portal www.eazeeloans.com has surpassed all expectations and is proud to announce the 50,000th customer to apply online on its portal.

“Looking back and pausing to recollect the uncertain and shaky global scenario prevailing when the portal was launched a year back this is a major and monumental achievement and the success can only be attributed to the selfless and ’never say’ die attitude of the entire team without whose contribution this would never have been possible. I congratulate the entire team and wish for their continued patronage and contribution to scale greater heights.” So quotes the founder Mr. Subhrajeet Talukdar.

“This is a most satisfying moment and should motivate us all to break new barriers. We have plotted a fresh course and plan for the scaling new peaks and uncharted destinations. Yes currently the entire team is in a jubilant mood and the celebrations shall be long and hard and why not? This would also be the time to look back and reflect on the mistakes committed and learning from them in a positive manner.” Said co-founder and wife Ms. Jyoti Talukdar.

The milestone is a significant step and a reflection of the policies, practices and process ingrained and also a reflection of the consistent service and the resultant customer satisfaction.

The portal has of late been given a facelift and redesigned with a wider content and has a much more pleasant and appealing look about it. The site itself remains as easy as before to navigate and the response time is as good before.

About

Eazeeloans.com is a loan advisory portal launched in Mumbai that offers the best loan deals for Personal Loans, Home Loans, Auto Loans, Business loans, Mortgages, Secured loans, Unsecured Loans, Working capital, Private Finance. It is managed by trained professionals and is associated with various leading banks to provide fast and easy hassle free loans. The site is currently receiving around 200 unique applications daily on its portal for the various services on offer.

Contact

Email: info@eazeeloans.com
Website: www.eazeeloans.com
Fax: 91 22 26826745
Landline: 91 22 26833045

Personal loans,Home loans,Business loans,Loans against Property: CIBIL- ALL YOU WANTED TO KNOW

2010-03-01T11:01:00.000-08:00

Personal loans,Home loans,Business loans,Loans against Property: CIBIL- ALL YOU WANTED TO KNOW

Credit Card Settlement-New norms on anvil by RBI

2010-03-01T07:44:00.000-08:00

There is finally a ray of hope for the countless and hapless credit card users
who were so far being held to ransom by credit card providing banks even on final
settlement of dues by forwarding their names to Cibil, as still owing dues to the
banks.

The Reserve Bank of India is very soon coming out with new guidelines which will
disallow any bank to treat a customer as a defaulter if they have negotiated the
amount payable against his account and paid the amount to the banks providing such
credit cards.Currently even after the customer has paid the negotiated amount as offered by the bank, their names continue to be forwarded to Cibil-Credit Information Bureau Of India Limited, the central repository of all consumers credit history across all banks formed in Jan 2001.

As a result of being treated as a defaulter the customer is not able to avail of any
loans like personal loan or home loan from any banks as the credit rating maintained
by Cibil takes a freefall downward. Being cornered and without any hopes of
acquiring such loans from any banks the customer has to settle any dues as claimed
and raised by the banks being the balance amount of the earlier settled amount plus
penalties and interest due till date.

Mr.Arun Thukral, M D Cibil confirmed the current practice after a series of meetings
with RBI, banks and Cibil. At present whenever dues are settled with a bank the
balance is usually treated as amount written off. In many cases banks raise bills for
very small amount balance including annual fees after settlement which should not
have been charged at all in the first place.

Though the RBI is taking a very serious note of the matter and will declare
fresh guidelines to address the current ailment in due course countless affected
customers await with bated breath of the succor to be provided by the Apex Bank
of India.

The author Subhrajeet Talukdar is the founder of Apex Finance & Marketing in Mumbai in April 2006 and the promoter of Eazeeloans.com a premier loan advisory portal.

http://www.eazeeloans.com

Private Finance

2009-12-26T04:54:00.000-08:00

Private Finance: "Fast"

CIBIL- ALL YOU WANTED TO KNOW

2009-11-23T10:48:00.000-08:00

CIBIL is an acronym for Credit Information Bureau India Limited. It is India's first credit information bureau, a storage bank of information, which contains the credit history of commercial and consumer borrowers. CIBIL provides information to its Members in the form of credit information reports.
CIBIL was promoted by the State Bank of India, Housing Development Finance Corporation Limited, Dun & Bradstreet Information Services India Private Limited and Transunion International Inc. The promoters SBI and HDFC divested a part of their stake to other shareholders and the revised shareholding stands as follows:
GE Strategic Investments India 2.5%
State Bank of India 10.0%
Bank of Baroda 5.0%
Transunion International Inc. 10.0%
Dun & Bradstreet Information Services India Pvt. Ltd. 10.0%
Bank of India 5.0%
The Hongkong and Shanghai Banking Corporation Ltd 5.0%
Indian Overseas Bank 5.0%
Sundaram Finance 2.5%
Housing Development Finance Corporation Ltd. 10.0%
Punjab National Bank 5.0%
Union Bank 5.0%
Citicorp Finance (India) Ltd 5.0%
ICICI Bank Ltd 10.0%
Central Bank Ltd 5.0%
Standard Chartered Bank 5.0%

CIBIL has an information base on 175 members and database on 127 million companies and individuals which continues to grow at a fast pace. CIBIL shares credit information with its member base on the principle of reciprocity. CIBIL’ s members include all leading banks, financial institutions, non-banking financial companies, housing finance companies, state financial corporations and credit card companies.
CIBIL creates value for financial institutions by providing objective information that helps them manage risk and devise appropriate lending strategies, thus reducing cost and maximizing portfolio profitability. CIBIL benefits both credit grantors and consumers by collecting, analyzing, and delivering information on credit histories of millions of consumers and businesses. With information from CIBIL, credit grantors are empowered to make sound and informed credit decisions.

NEED FOR CIBIL

The need of a credit information system was felt in order to enable informed credit decisions and aid fact based risk management. The idea of a credit information bureau was mooted by the Reserve Bank of India after the South Asian crisis. It was also very much needed to arrest addition of fresh Non Performing Assets in the banking system through a database of credit information on borrowers as a first step in credit risk management. In this regard, the requirement of an adequate mechanism, providing comprehensive and reliable information system on the borrowers through an efficient database system was keenly felt by the Reserve Bank of India/ Government as well as credit institutions. A Working Group chaired by Shri. N. H. Siddiqui with representatives from select public sector banks, IDBI, ICICI, Indian Bank’ s Association and Reserve Bank in 1999 had recommended setting up a CIB under the Companies Act, 1956 with equity participation from commercial banks, FI’ s and NBFC’ s registered with the Reserve Bank. As per the recommendations made by the Working Group, Credit Information Bureau (India) Ltd., CIBIL was set up in January 2001.
CIBIL has two divisions- Consumer Bureau launched in 2004 and Commercial Bureau was launched in 2006.
The fraud repository will help banks access information, which was so far not disclosed to anyone, but the Reserve Bank of India. Before they decide on something they will use the data. It will help reduce frauds and chances of someone vanishing after taking a loan.
Similarly, the mortgage repository will help banks in finding out if someone has used the same papers to get loans from multiple sources.

TO WHOM ALL IS CIBIL APPLICABLE?

CIBIL is applicable to anyone applying for any credit facilities such as Personal loans, Home loans, Business loans, Mortgages, Loan against property, Auto loans, Secured and Unsecured loans, Credit cards, any type of finance or credit facility from banks, financial institutions, non-banking financial companies, housing finance companies, state financial corporations and credit card companies etc.

HOW DOES CIBIL FUNCTION?

CIBIL primarily gets information from its Members currently and at a subsequent stage will supplement it with public domain information in order to create a truly comprehensive picture of anyone’ s financial track record.
For credit grantors like banks and financial institutions to gain a complete picture of the payment history of a credit applicant, they must be able to gain access to the applicant's complete credit record that may be spread over different institutions. CIBIL collects commercial and consumer credit-related data and collates such data to create and distribute credit reports to Members.

IS THERE A RISK OF CUSTOMERS CONFIDENTIAL INFORMATION BEING COMPROMISED?

The security of the Members' data is of paramount importance to CIBIL. CIBIL' s security measures are aligned with global ‘best practices’, stringent risk management standards and are subject to regular audits by independent auditors. CIBIL has adopted state-of-the-art technology to provide information security. The important aspects are detailed below:
• Information to databases is accessed only on a strictly ‘Need to Know’ basis. For example, the access to the Data Center is available only to authorized personnel engaged in regular systems and database administration.
• Access control devices, surveillance cameras installed at strategic locations and biometric access system at the Data Center with the highest levels of security.
• Comprehensive perimeter security solution consisting of a Firewall, Intrusion Detection and Vulnerability Assessment System to secure the network infrastructure from external security risk.
• Installation of the following devices to deal with fire hazards:
a. State-of-the-art (VESDA) smoke detection system to provide early warning and isolation of potential fire hazards.
b. FM200 based Fire Suppression System to extinguish fire with minimal damage to the IT systems.
• Anti -Virus software installed on all servers in the Data Center. Security patches and necessary configurations are continuously applied to the Servers and Network appliances.
Another vital area in which security is of the utmost importance is the two-way transmission of information between CIBIL and it' s Members. In this regard, CIBIL uses:
• 128-bit SSL encryption for all Web-based transactions including FTP.
• Cryptographic solutions for all information sent or received through any physical media i.e. CD, DAT and DLT.

WHAT TYPE OFINFORMATION IS NOT INCLUDED IN THE CIR?
The Credit Information Report (CIR) includes the following information:

• Basic borrower information like:
i. Name
ii. Address

In case of individuals:
iii. Identification numbers
iv. Passport ID
v. Voters ID
vi. Date of Birth
In case of non-individuals
vii. D-U-N-S® Number
viii. Registration Number
ix. Legal Constitution

• Records of all the credit facilities availed by the borrower
• Past payment history
• Amount overdue
• Number of inquiries made on that borrower, by different Members
• Suit-filed status.

What type of information is NOT included in the CIR?
The Credit Information Report (CIR) does not contain:
• Income / Revenue details
• Amount(s) deposited with the bank
• Details of borrowers' assets
• Value of asset(s) mortgaged
• Details of investment(s)

WHEN IS A CREDIT FACILITY CLASSIFIED AS “DEFAULT”?

CIBIL does not classify any accounts as default accounts. It merely reflects this information after the Member has classified it as such. The Number of Days Past Due and / or Asset Classification as per RBI definition as submitted by Members is reflected in the Credit Information Report (CIR).

HOW CAN ONE ENSURE CIBIL REPORT DOES NOT CONTAIN NEGATIVE INFORMATION?
The best preventive measure is to exercise good money management practices and make repayments on time.

HOW CAN ONE ACCESS INFORMATION ON CIBIL?

Reports can be accessed by Members on the principle of reciprocity i.e. only those Members who have provided all their data to CIBIL are permitted to access Credit Information Report. Members can do so only to take valid credit decisions. Disclosure to any other person or entity is prohibited. A copy of the same can be obtained by obtaining the control number generated by CIBIL which can be obtained from the bank or financial institution where the applicant is trying to obtain credit facilities.
The applicant can write to support@cibil.com, info@cibil.com, anuj@cibil.com referring his control number and access all necessary information pertaining to his records being maintained by CIBIL.
Very soon one can ask the credit bureau for one’s individual score. To begin with, an individual will have to send a request through a mail and then after verifying the person through certain security questions, they will post the score to the address maintained in their records.

HOW CAN ONE RECTIFY ERRORS IN CIBIL?
Contact the credit grantor from whom you have availed the loan and request the necessary changes. The credit grantor will then report the change to CIBIL and subsequently necessary updates will be made by CIBIL in their records.

Source: http://www.cibil.com/faqs.htm
http://en.wikipedia.org/wiki/CIBIL
http://www.business-standard.com/india/news/fraud-repository-will- help-banks/17/54/342156/
http://www.financialexpress.com/news/in-future-we-will-see- differential-rates/395758/

The author is the founder of Eazeeloans.com a loan advisory portal launched in Mumbai for Personal loans, Business loans, Home loans, Loan against property, New and Second sale Cars, Secured and Unsecured Finance. Website: http://www.eazeeloans.com

Personal loans,Home loans,Business loans,Loans against Property: Personal Loan-All you wanted to Know.

2009-11-08T09:43:00.000-08:00

Personal loans,Home loans,Business loans,Loans against Property: Personal Loan-All you wanted to Know.

Personal loans,Home loans,Business loans,Loans against Property: Apex Finance & Marketing Launches Eazeeloans.com Loan Advisory Portal in Mumbai

2009-11-08T09:42:00.001-08:00

Personal loans,Home loans,Business loans,Loans against Property: Apex Finance & Marketing Launches Eazeeloans.com Loan Advisory Portal in Mumbai

2009-11-08T09:42:00.000-08:00

Personal loans,Home loans,Business loans,Loans against Property: Apex Finance & Marketing Launches Eazeeloans.com Loan Advisory Portal in Mumbai

Apex Finance & Marketing Launches Eazeeloans.com Loan Advisory Portal in Mumbai

2009-09-09T10:51:00.000-07:00

Apex Finance & Marketing founded by Subhrajeet Talukdar in Mumbai in April 2006 has launched Eazeeloans.com a premier loan advisory portal for Personal Loans, Business Loans, Home Loans, Loan against Property, Auto Loan, Secured loan. Unsecured loan.

EazeeLoans.com offers the best loan deals, is managed by well trained professionals and is associated with various leading banks to provide fast and easy hassle free loans.

Eazeeloans.com has already gained acceptance and popularity amongst applicants for the above products in a very short time span through peer reviews and word of mouth publicity. The vision of Eazeeloans is to provide the best offer in relation to services such as documentation, rate of interest and loan quantum in a personalized manner tailor made for each customer all available under one roof.

EazeeLoans.com aims to be the ultimate destination for every kind of Consumer finance solution. With support of Finance Partners and efficient service EazeeLoans.com provides speedy loans. A team of dedicated and trained staff takes care of all the documentation and other formalities.

EazeeLoans.com provides one window and tailor-made solutions for your unique loan requirements & needs. Many new features and applications currently under development will soon be added to give visitors a more complete and fulfilling experience.

Further details on product features, eligibility, documentation
'process, rate of interest, loan Tenure, Income criterias, Loan process charges faqs , Privacy Policy, and registration page for Bank's/DSA's available on site.

For Personal Loans, Business loans, Home Loans, Loan against Property, Auto Loan, Mortgage loan, Secured loan, Unsecured loan apply on www.eazeeloans.com

Personal Loan-All you wanted to Know.

2009-09-09T10:39:00.001-07:00

Personal Loan-All you wanted to know.

Source: www.eazeeloans.com

What are the features of Personal Loan?

The main features are:

It is a Unsecured loan suitable for any purpose Like:
Education
Marriage
Medical purpose
Purchase of Property or Assets
Repay old loans
Investments
Holidays
Gifts....etc.

It is Hassle free loans - No guarantors or security /collateral required.
Loans to salaried & self-employed.
Special offers for Professionals like Doctors, chartered accountants, engineers, architects, company secretaries,MBA's etc.
Loans are available from Rs.50,000/- to Rs.20 lakh.
Repayment options,from 12 to 60 months in easy EMI's.
Loans available against surrogate income of any auto, personal or home loan.
Minimum documentation, & fast approval.

What are the Various types of personal loans available?
Personal loans can be broadly divided into income based and non income based.
Income based loans are given on the basis of income per month/per year for salaried and self employed respectively.

Non income based loans also know as surrogate loans are given based on repayment track records of existing personal loans,car loans,home loans and Credit cards from approved banks.Minimum instalments paid/Months on books required is 9-12 months.

What are the eligibility criterias?

The eligibiliy criterias for salaried and self employed are :
SALARIED:
Applicant should be Indian Citizens Working and residing in Mumbai.
Mininimum age required is 21 years and Maximum 58/60 years.
Minimum Work Experience-1 month in current company and 3 years overall.
Minimum Net Take Home - Rs.20,000/- per month .
Residence-either Owned,rented or company provided.
Telephone/mobile mandatory at residence.
Currently most of the banks are providing unsecured personal loans only to employees of Private Ltd ,Limited and multinational companies.

SELF EMPLOYED:

Applicant should be Indian Citizens Working and residing in Mumbai.
Mininimum age required is 23/25 years and Maximum 65 years.
Minimum 3 years experience in same business.
Minimum income Rs.2.50 lakh per annum.
Residence/Office -either Owned,rented or company provided.Either residence or Office should be self owned.
Telephone/mobile mandatory at residence and office.
Partnership firms ,Private Ltd.companies and deemed Limited companies are eligible.

HOW IS ELIGIBILITY CALCULATED?

Diffferent banks have different ways of calculating the eligibility.In the case of Salaried, generally most of the banks would calculate eligibility to be 1/1.5 times of annual income.Factors such as existing loan liabilities ,avg bank balance,track record on existing loans loan,companty profile & loan tenure also plays a part in deciding eligibility.

In the case of Self Employed's the eligibility would depend on the turnover, existing track record,net profit, cash credit /overdraft limit enjoyed, line of business,cash flow,bank statement,existing loan liability amongst other things.Generally the loan amount is limited 1.25 to 4 times of cash profit generated less existing liabilities or a certain percentage of turnover less existing liabilities.

WHAT IS THE LOAN TENURE?

Loan Tenure is the period within which the applicant wants to repay the loan .Loans can be repaid from 1 year to 5 years.
The rule of the thumb being longer the tenure higher would be the loan eligibility and vice versa.The age of the applicant along with period of service left also influences the loan tenure.

WHAT ARE SERVICE CHARGES?

Service charges,loan processing charges ,bank charges are various ways of describing the fees which the bank charges for processing and disbursing loans.It is deducted directly from the loan amount and is generally restricted to 2% to 3 % of the loan amount.IT is a one time fee.

WHAT ARE THE DOCUMENTS REQUIRED?

SALARIED:

Photograph.
Pan Card Copy.
Current residence Proof.
Salary Slips for 3 months.
Bank statement for 6 months.
Appointment letter and proof of work experience.
Sanction letters of existing/Closed loans.

SELF EMPLOYED:

Photograph.
Pan Card Copy.
Residence and Office address proof(Either residence or
office should be self owned).
IT Returns CA certified copies for 2 years complete set.
Business Continuity/existence proof 3 years old.
Business banking 6 months.
All existing loan sanction letters.
Qualification proof for professionals.

What is the loan Process?

One can apply for a personal loan any time in anticipation of a quick,hassle free and unsecured finance for any purpose.The verification process at residence and office is physically done within 2/3 days on submission of all documents required.
There is a simultaneous credit check done to find out the credit history of the applicant in the bank applied as also other banks.If all the checks are positive the credit officer normally has either a telephonic or physical discussion with the applicant at his office.
Subject to the discussion being positive the applicant has to sign an agreement and also hand over PDC'c(Post Dated Cheques) or authorisation for ECS(Electronic Clearing System).The applicant generally gets either a direct credit in his/her account or receives a Draft within 2/3 working days after executing the agreement.The entire Process may take 5/7 working days.

Who can apply for a personal loan?

Salaried Individuals and Selfemployed individuals,Partnership firms,Pvt Ltd and Deemed Ltd companies can apply.

What are the Income Criterias for Salaried?

A Salaried Individual needs to have Minimum NTH(Net Take Home Salary) Of Rs.20000/- pm.

What are the income criterias for self employed?
Mininimum Income of Rs.2.5 to Rs.3 lakh per annum is the accepted norm.

What is the minimum and maximum loan amount?

The minimum loan amount for salaried is Rs.50,000/- and maximum Rs.15 lakhs For Selfemployed the minimum loan is Rs.1 lakh and maximum 20 lakh.

What are the age Criterias?
For salaried the minimum age is 21 years and maximum 60 years.
For Self employed's the Minimum age required is 25 years and maximum 65 years .

Is a no income Proof loan available?

Yes,salaried individuals and self employed's can apply on the basis of existing personal loan, auto loan & home loan tracks on which minimum 9/12 EMI's have been paid .

What is the loan tenure?

The minimum loan tenure is 1 year and maximum 5 years.

Is securities or guarantors required for a personal loan?

No security,hypothecation,guarantors or mortgages is required in a personal Loan.

Can a person staying on rent apply?

Yes,applicants staying either on owned ,rented or company provided accomodation can apply. Permanent residence address proof may be required in case of rented accomodation.

What are the interest charges?

Interest charges depends on various factors like the Loan Amount,Company profile, qualification & Income etc.It could vary from 16 % to 26% on a monthly reducing basis.

Can the loan be prepaid?
Yes,the loan can be prepaid after paying 6 instalments.
Are there any pre-payment charges?
Generally all banks charge 4% to 5% of the principle outstanding as prepayment charges.

Source: www.eazeeloans.com

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Eazeeloans.com Achieves Milestone of 1000th Customer.

2009-08-29T12:55:00.000-07:00

Eazeeloans.com has touched its 1st milestone of 1000 customers applying for loan on its portal in only the 2nd month of its launch pan India.

"The achievement is specially relevant in the current global economic meltdown scenario where most businesess have been affected and layoffs have become the trend.The accomplishment gives credence to the already accepted fact that given the power of choice,simplicity and convenience the consumers would opt for the very best"says Subhrajeet Talukdar the founder."We are already targeting our next milestone of 10,000 loan applications" Unquote.

Eazeeloans.com is a loan advisory portal launched by Apex Finance & Marketing in Mumbai in 2006 that offers the best loan deals for Personal Loans,Home Loans,Property Loans,Auto Loans,Business loans,Mortgages, Secured loans,Unsecured Loans.It is managed by trained professionals and is associated with various leading banks to provide fast and easy hassle free loans.

Eazeeloans.com has already gained acceptance and popularity amongst applicants for the above products in a very short time span through peer reviews and word of mouth publicity.The vision of eazeeloans is to provide the best offer in relation to services such as documentation,rate of interest and loan quantum in a personalised manner tailor made for each customer all available under one roof.

Eazeeloans.com aims to be the ultimate destination for every kind of Consumer finance solution. With support of Finance Partners and efficient service Eazeeloans.com provides speedy loans.A team of dedicated and trained staff takes care of all the documentation and other formalities.

Eazeeloans.com provides one window and tailor-made solutions for customers unique loan requirements & needs.Many new features and applications will soon be added to give visitors a more complete and fulfilling experience.

You can give your business the impetus you were looking for....
Get the Eazeeloans advantage.

Register with Eazeeloans.com on a cost per lead basis, and..

*Get authenticated leads of interested customers from preferred location.

*Provide services to the customer from the bank you are affiliated with.

*Retain the customer for life by investing only once.

About the author:

The author Subhrajeet Talukdar founded Apex Finance & Marketing in April 2006 in Mumbai and has launched Eazeeloans.com a loan advisory portal that offers the best loan deals for Personal Loans, Home Loans, Property Loans, Auto Loans, Business loans, Unsecured loans, Unsecured Finance in Mumbai.

They have their offices at :

B 7/8,Sai Prasad CHS,
N C Phadke Marg,
Andheri,
Mumbai-400069.
Maharashtra.India.
E Mail :info@eazeeloans.com
Website :www.eazeeloans.com

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2009-05-07T10:28:00.000-07:00

Have you ever felt the need for a quick and hassle free way of getting a Personal Loans,Business loans,Home Loans,Loan against Property,Auto Loan ,Unsecured loan,Secured loan.

I am sure you would have faced the situation sometimes or the other in your fast paced and stressfull career.

Perhaps you would like to share your experience of going about the task of getting a quick fix solution to your problem.

Most people have gone through a harrowing experience of applying ,providing documents,verification process and more only to find out that there is a vast gap in promises made during initial pitches by various providers and the actual sanction if at all.

There are a myriad of reasons for the same .Not understanding the profile of the customers and the nuances of the products offered by various banks and lending institutions being the foremost.

Is there a simple solution?

Yes, apply on Eazeeloans.com.

Eazeeloans.com is a loan advisory portal for Personal loan,
Home loan,Auto Loan,Loan against property,Business loans in Mumbai.
Eazeeloans.com is managed by a team of experienced professionals
having vast experience and indepth knowledge in the above fields.

At Eazeeloans.com you can get quotes of different banks and Financial
Institutions providing the above facilities.Eazeeloans.com provides a
single window for all your financial needs.

EazeeLoans.com is the ultimate destination for every kind of Consumer finance solution. With support of our Finance Partners and efficient service EazeeLoans.com provides speedy loan to their customers at their door. Our trained staff takes care of all the documentation and other formalities.

Click on Eazeeloans.com for a quick quote from various banks and enjoy
a hassle free and relaxed way of availing the various facilities
provided.

The author Subhrajeet Talukdar is the founder of Apex Finance & Marketing in Mumbai in April 2006 and the promoter of www.eazeeloans.com a premier loan advisory portal.

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