Can I Get Loan
Many banks offer loans for personal use, and it can be difficult for the general consumer to choose the right bank to use for the best program. He asks friends who have little information or trusts bank brokers who are interested in meeting his clear goals or buying loans that will cost him more. Therefore, in order to provide a better comparison for consumers, Consumer Voice conducted a comparative study of personal finance programs offered by nks. The comparisons are based onparameters that influence the decision of common people while choosing a bank or financial scheme..
PRIVATE PROCESSES!!!
For the price classwhere the price is. The bank accountdoes not have to be at the bank where you applied for the personal loan.However, banks prefer to assess those loans rather than their customers.Because banks don’t lend money to anyone without a performance guarantee.Participate in the acceleration of debt penalties.Rent based on rental agreement.Passport and Aadhaar card and identity documentssuch as employment ID card and PAN cardshould be submitted along withbank application form in the approved form. Twophotographs of the applicant are required.Credit is not binding, the bank will ask you toprovide a reason (any of the aboveor other reasons, which may or may not exist – for example, to cover unplanned household expenses).or mortgage, these deductions are taken into account to calculate the totaltax deduction that comes tothe qualifying loan amount.The bank’s decision to grant a personal loan should be factored in.
For the self-employed
For those who run a business or are self-employed,other conditions may apply.The income shown in the tax returnwill be the basis for determining his total income. He may be asked to provide informationabout the company/income situation.The issue is related to debt payment. In the case of a new company, banks can insist onguarantees such as bank notes andbonds in addition to providing one or morepersonal guarantees with a high price.
!For professionals
For professionals – doctors, lawyers, certified accountants, architects, etc. – the followingadditional requirements. and must be submitted withthe application form Loan programs for those professionals offerlower interest rates, the bank may askfor business information including copies of accountincome/salary and/or income/expenditure.
Advantages
the speed with which the loan application isapproved or rejected (rejected).Banks do not insist on any security orsometimes even a personal guarantee.So it is beneficial for the loan applicant, becausethere is no guarantee for each personto his colleagues or friends.share (share of the borrower’s risk).Therefore, there is absolutely no need forthe customer to manage funds to preparethe margin.The seller fails to make an effort to explain the truth of the matter and provide evidence of that matter.There is no correct method.Consumers prefer and banks agree to acceptpost-dated checks (PDC) for the amountof each payment and also show consistencyof maturity. The customer does not need to go to the bank for such transactions. In cases where loan paymentsare taken from the customer’s savings account, the banks receive and process them according to written instructions.Disadvantages/limitationsCredit type. This is valuable because it is an unsecured loan compared to secured mortgages.month Banks do not like or agree to a longer term. It can be limitedaccording to customer needs.It has more risk and becomes a passive asset. Payment is at riskdue to change of job /temporary unemployment / deathof borrower / change of address without proof etc.Therefore, many banks \ n offer loans to non-consumers – that is, individuals.