Invest in Axis Bank Fixed Deposit to Increase Your Savings

Axis bank is one of the trusted private banks in India. The bank offers a wide range of products and services that help the people at the time of financial requirements. Axis bank fixed deposit is one such product that is used by the people to keep their savings for a fixed tenure and in return, they get the interest rate on the amount fixed. The fixed deposit is beneficial in many ways especially if you have savings then instead of keeping the money in the saving account and earning a meagre interest rate you can fix the amount and get twice the amount of interest rate applicable in the savings account. The minimum amount that the depositor can deposit is ₹10,000 and there is no maximum limit for the fixed deposit.

fixed-deposit-1

Axis Bank fixed deposit is a type of investment where you earn the interest rate amount over the amount deposited for a particular period of time. The fixed deposit can be short term deposit, mid term or long term deposit. The tenure of the fixed deposit is can vary from 7 days to 10 years. The depositor can choose to invest in any term and gain the benefits. It also helps in the tax deduction if the amount fixed is less than ₹1.5 lakh for 5 years. You have the option to reinvest the amount and earn interest over it to get the double benefit.

Eligibility Criteria Required-

To have a fixed deposit account you need to fulfill certain criteria and then you will be eligible to deposit the amount in the bank to earn the good rate of interest from them. Below mentioned individual or group are eligible for a fixed deposit:

  • The applicant should be the Resident of India.
  • Hindu undivided families
  • Sole proprietorship firms
  • Partnership firm
  • Private limited companies
  • Trust accounts

Documents required-

The documents required by the individual, Hindu undivided family, and sole proprietorship while applying for the fixed deposit are:

  • A coloured photograph
  • Passport/ Driving License
  • Last six months bank account details

Documents required from the trusts for a fixed deposit are as follow:

  • Photographs of the member operating the account.
  • Copy of the Trust Deed.
  • Copy of Registration Certificate.
  • Copy of the resolution of trustee authorizing the member to operate and open the accounts.

Documents required from the  association/ clubs for the fixed deposit are as follow:

  • Photographs of the member operating the account.
  • Copy of the Bye- laws of the association.
  • Copy of the resolution of trustee authorizing the member to operate and open the accounts.

Documents required from the partnership firm for the fixed deposit are as follow:

  • Photographs of the persons operating the account.
  • Partnership Deed
  • Letter from the partners approving the person to operate and open the account.

Fixed deposit Interest rate in Axis bank-

  • 7 days to 45 days the rate of interest is 3.50%
  • 30 days to 45 days the rate of interest is 5.50%
  • 46 days to 3 months the rate of interest is 6.00%
  • 3 months to less than 6 months the rate of interest is 6.25%
  • 6 months to less than 9 months the rate of interest is 6.50%
  • more than 9 months to less than 1 year the rate interest is 6.75%
  • 1 year to less than 2 years the rate of interest is 7.00%
  • 2 years to 10 years the rate of interest is 6.75%

The fixed deposit interest rate in Axis Bank for Senior Citizens-

  • 7 days to 45 days the rate of interest is 5.50%
  • 46 days to 3 months the rate of interest is 5.75%
  • 3 months to less than 6 months the rate of interest is 6.00%
  • 6 months to less than 9 months the rate of interest is 6.25%
  • more than 9 months to less than 1 year the rate interest is 6.25%
  • 1 year to less than 2 years the rate of interest is 6.25%
  • 2 years to 10 years the rate of interest is 6.25%

Axis Bank Fixed Deposit Plus-

It is the one of the fixed deposit scheme started by the bank for the retail and corporate customer who wish to deposit the principal amount not less than 15 lakh at one time. This scheme is applicable if the amount is deposited for more than 1 year and less than 2 years. Pre-mature withdrawal under normal circumstances is not allowed while in the case of the bankruptcy, loss, or deceased or direction from regulator/ court/ receiver, you can choose to apply for pre-closure. The penalty charges are applicable in such case. Auto renewal option is available under this scheme.

Axis bank has always given the option to its customer for all types of financial solution. The investment in the fixed deposit is one of the best ways to invest as it is risk- free. It is the best possible way to get good interest over the money without worrying about the safety of your wealth. The guaranteed return is assured and you have the option to fix it further.

Article Source: http://wishfin.blogspot.com/2017/03/invest-in-axis-bank-fixed-deposit-to.html

Canara Bank Business Loan – A Credit to Hike Business

Business loans are the specialized loan product designed to meet the requirements of entrepreneurs and business owners. This loan product can be availed by the people who are willing to start up a new business or expand the existing one. It is very similar to personal loan because of the fact that they must be repaid in full by a certain time period, whether this be some sort of a repayment plan or a large lump sum payment. The amount disbursed under business loan can be utilized either to purchase new equipment needed, purchasing additional inventory or for any other business related purpose.

canara-bank

It is a unique product that is beneficial for Micro, Small & Medium sized enterprises. Most of the banks lend money to SME units and MSME units to grow and scale up their production under the MSME and SME loans. Canara Bank is one such bank that helps these units by offering them timely monetary assistance. Canara Bank business loan provides an aid to the business units to meet their financial objectives.

Features of Canara Bank Business Loan-

  • Disbursal of loan within time
  • Reasonable rate of interest
  • Multiple loan schemes to choose from
  • Right solutions for all your business requirements

Canara Bank Loan Schemes-

  • MSE Unnati
  • MSME Cap
  • MSME Vahan
  • MSE Vijeta
  • MSE Smart
  • Doctor’s Choice
  • Canara Trade
  • Canara Contractor Scheme
  • Canara Caravan
  • MSME Expo
  • Pradhan Mantri Mudara Yojana

The customers can select a specific business loan product as per their requirement as the bank has designed different loan plans for the different segments. The candidates can apply for a business loan by visiting the nearest branch office. The business loan service is available in all regional offices. The customer dealer will guide you regarding all the procedure.

Eligibility Criteria-

To avail the benefit of loan the customer has to meet the eligibility standards set by the bank. The bank evaluates the profile of the candidate before sanctioning the loan. The evaluation is done on the basis of certain parameters. The factors affecting the eligibility are as follows:

Factor Affecting Business Loan Eligibility

  • Loan Repayment track
  • Credit Performance / Credit Bureau Update
  • Debt servicing ability of the customer
  • Business Vintage
  • Financial Ratios
  • Existing relationship

Application Form-

The candidates have to fill the application form that is available at the bank branch. You can take the form from the customer care dealer. The form comprises of the following fields:

  • Personal Details
  • Occupational Details
  • Income and Banking Details
  • Loan Details
  • Additional Details regarding assets
  • Priority Sector Category
  • Documents Submitted

Documents Required-

The KYC documents required to be presented by the candidates are as mentioned below:

  • PAN Card – For Individual / Partnership Firm / Company
  • Identity Proof – Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
  • Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
  • Ownership proof of either residence or office either in the name of applicant or jointly with family members
  • Business Continuity Proof – Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
  • Letter certifying end use of the business loan funds on Business Letterhead
  • Passport Size Photographs of all applicants and co-applicants

Financial Documents to be submitted according to the category:

Self-Employed Individuals / Sole Proprietorships

  • Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
  • Bank statements from the borrower’s main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet

For Self-Employed Professionals

  • Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
  • Bank statements from the borrower’s main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
  • Professional Qualification Certificate and Degree Certificate for professionals. (Doctors, Architects, Chartered Accountants etc.)

For Partnership Firms / Private Limited Companies

  • Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
  • Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
  • Partnership Deed and partnership authority letter for partnership firms
  • Memorandum and Articles of Association and Board Resolution from the company
  • Certificate of Incorporation (COI) for companies
  • Latest shareholding patterns for Private Ltd. / Public Ltd. companies

Top 10 Mutual Funds: Which One Would You Choose?

Selecting the best mutual funds amongst the hoards of several mutual funds in the marketplace is a tedious task. However, choosing your best mutual fund for long term investment is not easy. There are various financial websites, blogs, financial advisors who will advise you on several parameters to rate the mutual funds. But if you consider the below-mentioned parameters, you could be harnessing the benefits from your chosen mutual funds.

  1. There are several mutual funds whose rankings are based on the CRISIL and Value Research Online. CRISIL assigns ranking on the classification such as Rank 1(good) to Rank(5) worst. Similarly, Value Research gives the rating on the basis such as 1-Star(worst) to 5-Star(good). Choosing the funds which have CRISIL 1 to 3 ranking and Value Research 5 star to 3-star rating is good. If you can see both these ratings for a mutual fund scheme and then decide, it could be your winning mutual fund.
  1. Invest on the basis of your risk taking appetite and time horizon. Longer the investment, the more potential it has for giving you better returns. It is better to stay invested from 5 to 10 years time horizon.  Also, your risk-taking appetite should be classified in terms of high-risk, medium-risk and low-risk appetite.
  • High-risk appetite investors prefer to invest in large cap funds, mid-cap funds, global funds, sector funds, etc. These are high-risk mutual funds, but give higher returns if invested in the long run.
  • Medium-risk appetite investors prefer to invest in large cap funds, hybrid funds, debt funds etc.
  • Low-risk investors prefer to invest in hybrid funds and debt funds.

  1. Select a better performer fund. Always check whether your fund is a consistent performer i.e. performing well in 1-year, 3-years and 5-years time. This ensures the regularity in giving you returns.
  1. Invest in that Asset Management Company(AMC) which has its Assets Under Management(AUM)>100 crores. AUM denotes the number of investors invested in a mutual fund scheme. Higher AUM indicates the maximum number of investors in a mutual fund scheme and lower AUM states a lesser number of investors so, ignore or avoid investing in such schemes. However, the new mutual funds having lesser AUM are yet to prove their potential in the stock market and thereby generating investors confidence.

Let’s see the classification of top 10 mutual funds which are picked on the basis of:

  • their highest performance in the last 5 years
  • CRISIL ranking and VRO rating as higher ranking/rating indicate better fund performer as compared to its various peers in stock market cycles.
  • the net worth of a mutual fund company whose net assets are worth more than 100 crores.

List of Top 10 Mutual Funds :

Mutual Fund Scheme Category Crisil Rank Assets Under                VRO              Management      Rating

 

Birla Sunlife Top 100 Fund Equity-Large Cap 2 ₹  2,393 crore      5      

SBI Bluechip Fund Equity-Large Cap 1          ₹ 10,934 crore      5

 

Birla Sunlife Equity Fund Equity-Multi Cap 1         ₹  3,770 crore      5       

 

ICICI Prudential Value Equity-Multi Cap             2         ₹ 15,588 crore      5

Discovery Fund

 

DSP Black Rock Tax Saver Fund Equity : Tax Planning       1      ₹  1,725 crore    5           

 

L&T Infrastructure Fund      Equity: Infrastructure 1 ₹ 268 crore         4

 

Birla Sunlife Monthly Income      Hybrid: Debt Oriented

Plan-II Wealth 25 Plans        Aggressive 1         ₹  1,540 crore      5      

 

Franklin India Low Duration Fund Debt: Short Term 2 ₹  2,667 crore     5       

Indiabulls Liquid Fund                     Debt: Liquid              1  ₹5,386 crore     5      

ICICI Prudential Long Term Gilt Fund Debt : Gilt 3 ₹  2,119 crore      3

 

On the basis of Returns

 

Scheme Name 1 Year(%) 3 years(%)        5 years (%)

 

Birla Sunlife Top 100 Fund        30.25 21.60 16.68

SBI Bluechip Fund        24.40 22.41 18.11

Birla Sunlife Equity Fund        43.11 28.55 19.88

ICICI Prudential Value                     27.72 28.58 20.96

Discovery Fund

DSP Black Rock Tax                     37.69 26.15 19.28

Saver Fund

L&T Infrastructure Fund       47.01 32.53 16.42

Birla Sunlife Monthly Income       23.05 16.73 13.12

Plan-II Wealth 25 Plans

Franklin India Low Duration Fund10.70 9.96 9.90

Indiabulls Liquid Fund       7.73 8.39 8.79

ICICI Prudential Long Term Gilt Fund16.79            12.53 9.19

 

Last but not the least, your investment on any of the above mutual fund scheme should be based on your financial goal, the essential criterion which determines the potential of generating higher returns from the scheme. You are advised to go through the objectives of your shortlisted mutual fund schemes in order to be focussed in selecting the right mutual fund scheme for yourself.

 

SBI Home Loan- The Perfect Way to Nurture Your Ideal Home Dreams

There is no other place as comforting and relaxing as your own house. It’s all because your home is sweet home. Building a home of your dreams is a lifetime investment which will bear fruits for a long time. It is the top most priority for any individual. Many times people have to let go of their dream of buying a house because they don’t have enough fiance in store. You require a good sum of money to buy a house and saving for the same is going to take a considerable amount of time. If you too want to buy an ideal home and live in it, then I have a good news for you. There are many home loan products available in the market but there is one product that offers you the best value and attractive interest rate. That product is SBI Home loan. State Bank of India is one of the leading public sector banks in India that has made a special name for itself because of its good services.

home-loan

The bank is always willing to help people who are in search of finance , so that they can fulfil their home dreams. Both salaried individuals and self-employed individuals can apply for a home loan from the bank. How you use is the loan will depend upon you. It can be used for any purpose, whether it is for buying a house or construction, repair, extension or renovation of an existing property. The maximum tenure for the same is 30 years which is very convenient for the people who avail it. This article has been solely created with the purpose of providing you with every bit of information about the product. Keep on reading.

Home loan products offered under SBI Home Loan category:

State Bank of India provides a wide range of products under the home loan category which can meet the requirements of the people. Check them out right now-

  • Flexipay Home Loan
  • SBI Realty
  • Maxgain
  • SBI Pal
  • Gram Niwas
  • NRI Home Loan
  • Shaurya Home Loan
  • Privilege Home Loan
  • Tribal Plus
  • Shaurya Home Loan

Eligibility Criteria:

The basic step which has to fulfilled while availing a loan is to meet the norms of eligibility criteria by SBI. you can check them right here-

  • The applicant should be between the age group of 18 to 70 years. It means the entire loan needs to be fully repaid by the age of 70 years.
  • If the applicant desires to secure funds from the bank, then he/she is required to earn a regular income. It is mandatory for all the applicants.

The applicants also have the provision to enhance their loan eligibility. All they have to do is add-

  • The income of spouse/daughter/son if any one of them are living with the applicant, and have a steady and stable income. Having a salary account which is managed and operated with the state bank is important
  • The rent which is expected from the new property, just in case it is going to be rented out
  • Regular source of income from all the available sources

Documents needed for a home loan:

The applicant has to ensure that he submits the documents on time if he wishes to successfully complete the process of loan disbursal. Don’t miss to check out the list of documents-

  • Completely filled application form
  • Proof of Identity- PAN card/Aadhar card/Driving license/Passport/Voter ID card
  • Bank statement of the previous six months
  • Proof of Residence- Electricity bill/Voter ID card/Telephone bill/Passport/Property tax receipt
  • Proof of Income- For salaried individual: IT returns of the past two years/Form 16 along with original salary certificate   For Self-employed individual: IT returns of the previous three financial years and  Assessment orders
  • Three photographs of passport size
  • Non- salaried class are required to show a business address proof

Interest rate and processing fees-

The rate of interest charged by the bank for a home loan lies in the range of 8.50% to 9.10%. It is very important to check the interest rates thoroughly ass they determine the EMI amount you pay for your loan amount. The processing fee charged by the bank for the same is 035% of the loan amount sanctioned along with applicable service taxes.

The maximum and minimum amount will turn out to be Rs. 10,000 and Rs. 2,000 respectively.

SBI Home Loan EMI Calculator-

This is the one of the most important aspects of the article. It is very important for you to know about the SBI Home Loan EMI Calculator. The calculator will allow you to calculate your monthly installment within few seconds. Don’t believe it, you should try on your own. You won’t have to do any tough thing but just enter your loan amount, rate of interest along with the tenure. Then you will simply have to wait for the magic to begin. You will get results showing the EMI amount and the total interest payable on your side. This tool is very useful for you as it will allow you to compare the EMI amount on various interest available. You can choose the best one accordingly. Check this example out to make things crystal clear.

Suppose Divya Singh, a software engineer wishes to secure a home loan of Rs. 10,00,000. She approaches the bank regarding the same and secures the loan amount at a rate of interest rof 9%. The tenure for the same is 10 years. Now, with the help of this tool, you can easily calculate the EMI amount. Let the tool display its magic. Within seconds, you can calculate that the amount to be paid each month will turn out to be Rs. 12,668. The total interest payable is going to be Rs. 5,20,109. All this quick and hassle free calculation has been possible because of this magical tool.

So now you have known all the important stuff about the product. I will suggest you to approach the nearest SBI branch today and complete all the required formalities and avail a home loan. Go nurture all your dreams.

 

Things You Should Know Before Credit Card Apply

When it comes to credit cards, there is no denying the fact that they have become the most crucial part of our lives. Today, our lives revolve around them as they cater the diverse needs. Right from shopping, dining, fuelling,  travelling, the usage of plastic money has rapidly increased and so is the dependency of people. This is the reason that every day the figures of credit card apply online are increasing thus grabbing the attention of many. Now, when we say applying for the same, there are various ways through which you can do it. Yes, you read that right! Today, applying for your favorite card is undoubtedly the simplest and easiest thing.  

Moreover, you can not only get your favorite card instantly, but it also allows you to get closer to wishes with the same pace as well. Yes, the moment you have your favorite card in hand, you can use it to meet your various needs instantly. So, if you want to apply for the best card, you have multiple options to do the same. To begin with, you can avail the same online as most of the banks these days provide you this facility, wherein you just need to visit their page, choose a card of your choice and click on the apply now button. The moment you do so, you will be redirected towards a page, asking for your personal and professional details such as age, income, residential address, city, etc. Once you are done filling these details, the bank will further pass on your details and if everything works in your favour, you will be contacted soon by the bank.

credit card

Another reliable option available for you is the option of buying the same at the branch itself. You just need to visit the bank for which you want to avail the card. You just need to fill the form by giving all the required details and then submit the same at the branch itself. If your eligibility matches with the bank’s eligibility, your application for the same will proceed further. But, one thing that needs to be mentioned here is the fact that the entire process is a bit time-taking as it usually takes 8-10 working days to get the approval for the same. Yes, because the verification process    is a time- consuming process, wherein the banks check your CIBIL, verify the details you submitted, and once they are satisfied then only they give approval to your application.

So, now that you know how to apply for your favorite card, it is also important for you to keep in mind the points that are crucial while choosing the one. Yes, that’s absolutely right! Never ever go on the glitz and glamour of a card i.e. never go on the looks and appeal, instead try to find out what all features, privileges and perks it offers. Also, keep in mind , it’s joining, annual/renewal fee, interest rates, late payment charges and other related charges. Most of the times, people while availing a card don’t pay attention towards these parameters as for them what all matter is actually few lucrative offers, look and appeal that’s it. They don’t dig inside to know the real game changers as they can turn your credit card experience from good to bad. Usually, the interest rates charged by most of the banks on various purchases ranges between 2%-3% per month, which means if you fail to clear your debt before the interest- free period (48-51 days), you will end up paying the annual interest of 24%-36%, mind it guys it is the annual interest calculation.

We don’t even realize this fact that the annual calculation of a credit card can actually be so high that it can take a toll on your pocket. This is the reason that people easily fall into the debt consolidation trap and before they know the actual cause of the same, it’s too late for them. So, before you opt for the credit card apply, do remember that it comes with a plethora of important pointers that you should always keep in mind in order to stay away from the future hassles.   

Own your dream house through Home loan SBI

The house is a dream of every person and after a time period, we all need one for ourselves. In the wake of hustle bustle, we tend to find peace only in our home. The comfort to be yourself and live the way you want is only possible when its your own possession. The main reason to own a house is to secure a place for yourself where there are no boundaries and you can live in your own conditions. The moment you own anything there is a sense of attachment and security. The main aim of the home loan is to turn this dream into reality. The home loan SBI is one such product which can help you to get your dream home.

sbi home loan

The home loan is the solution which helps you to organise your finances. The main aim of the home loan is to provide the finances to the borrower for purchase, construction, renovation, and elongation. State bank of India is one of the largest public sector bank in India. It is also the largest bank which has the maximum customer base in India. The home loan product offered by the banks is one of the best due to its competitive interest rate. The bank is one of the most trusted bank and it offers the products that are customer friendly. The main aim of the banks is to provide the best financial solution to the people and make them economically strong.

The home loan products offered by SBI-

SBI Flexi Pay home loan

  • This is the home loan that is given to the salaried professionals/ executives. Under this scheme, you can avail 1.2 times more loan amount than normal home loan products. However the loan amount for this scheme should be  20 lakh or more.  
  • The minimum age of the applicant should be 21 years and the maximum age limit should be 45 years at the time of applying for the SBI flexi pay home loan.
  • The applicant should have at least 2 years of experience.
  • The borrower has the option to pay only the interest rate during the moratorium period (pre- EMI) so as to neutralise the extra burden of EMI. You also have the option of choosing your moratorium period of upto 12- 36 months.
  • The tenure of repayment is also long which can extend from 25 to 30 years. You can also make the prepayments of your home loan without any prepayment charges.

SBI Maxgain-

  • It is one of the customer friendly and innovative product that is designed to benefit the customer to yield the optimum on their savings by reducing the burden of interest rate with no extra cost.
  • The borrower can operate the home loan account just like the saving or current account. The loan is sanctioned as an overdraft. The bank provides the chequebook and net banking facilities for this scheme.
  • You can put your surplus savings or funds in this account and take out the money as per your requirements.
  • The minimum loan amount in this scheme is 20 lakh and there is no cap on the maximum loan amount.
  • The other term and condition are applicable as per the normal home loan products.

NRI Home loans-

  • This scheme is especially designed for the Non- Resident Indians (NRI) and the person of Indian origin (PIO).
  • The applicant under this scheme should have the regular and stable source of income.
  • The applicant should have the minimum of two years job experience in India or Abroad.
  • The minimum loan amount available under the scheme is ₹ 3 lakh and there is no maximum limit.
  • The other term and condition are applicable as per the normal home loan products.

SBI Realty-

  • The loan products which gives you the opportunity to buy the plot for the construction of the house.
  • The commencement of the house should be within the two years after availing the SBI realty home loan product.
  • The borrower under this can also take the loan for the construction of the house on the plot. The benefits of both the loans can be availed simultaneously.
  • The maximum loan amount under the scheme is ₹10 crore and the repayment period of loan is up to 15 years.
  • The other term and condition are applicable as per the normal home loan products.

SBI Pal-

  • It is the pre- approved loan amount which is sanctioned before the property which helps the borrower to negotiate with the property dealer.
  • The income details of the applicant are necessary for the sanctioning of the loan product and the amount is also finalised on the same basis.
  • Non- refundable processing fee is collected at the time of sanctioning the home loan.
  • The pre approved loan agreement papers are signed which is valid for 4 months only. The property papers are required to produce by the borrower to the bank within the validity period of the agreement. The agreement carries the loan amount and the prevailing interest rate on the sanctioned amount.
  • The minimum loan amount is ₹ 10 lakh.
  • The other term and condition are applicable as per the normal home loan products.

SBI Tribal Plus-

  • It is especially designed for the hilly/ tribal areas.
  • The applicant can purchase, construct, renovate, repair or elongate the new or old house/ flat under this scheme.
  • The maximum loan amount under the scheme is ₹ 10 lakh and the maximum repayment tenure is 15 years.

Gram Niwas-

  • The scheme is designed for the rural areas with population up to 50,000.
  • The applicant can purchase, construct, renovate or repair the house or purchase the land for the construction of the house/ shed etc.
  • The maximum loan amount under the scheme is ₹ 5 lakh and the maximum repayment tenure is 15 years.
  • No processing fee is applicable under this scheme.

Sahyog Niwas-

  • It is the scheme under which the home loan is provided to the self- help group in the rural areas which has the good payment record of  2 years.
  • The applicant group can purchase, construct, the house or place for carrying out the activities by them or purchase the land for the construction of the house/ shed etc. or renovate or repair the existing house.
  • The maximum amount sanctioned under this scheme is 10 times the of the savings of the group subject to a maximum amount of ₹ 50,000 per member.

SBI Priviledge home loan-

  • The applicant eligible under this scheme should be the employee of Central/ state government including the PSBs and PSUs of central government and other individuals with pensionable service.
  • The repayment tenure is extended up to 75 years in this scheme.
  • No processing fee is applicable for this home loan product.
  • You can switch over the outstanding balance of the home loan from other banks to State bank of India.

SBI Shaurya Home Loan-

  • The scheme is designed for the defence personnel belonging to Army, Navy or Air Force.
  • The repayment tenure is extended up to 75 years in this scheme.
  • No processing fee is applicable for this home loan product.
  • You can switch over the outstanding balance of the home loan from other banks to State bank of India.

So, you can avail from the above scheme to fulfill your dream to own a house for yourself. These schemes will help you financially to own your own abode. Hence decide carefully to extract the maximum benefits.

Track the Process of Your Loans Through Bajaj Finance Loan Status

So you have applied for loans with Bajaj Finance and waiting to track your application process? Don’t know how to ascertain the process for each type of loan preferred by individuals? In order to simplify your loan approval worries, so you can comfortably plan out the other steps required towards achieving your financial dreams. We discuss the following loan categories provided by Bajaj Finance loan to help you track your loan acceptance with ease:

Personal Loan-

As there is no collateral security against personal loan availed from Bajaj Finance, the interest rates are solely based on your credit history, salary, the amount being borrowed. The lowest interest rates start from 12.99% p.a. for loan amount upto Rs. 25 lakhs. Moreover, additional charges are applicable thereon such as processing fee, EMI Bounce charges, Penal Interest and Secure Fee (only for online) rendered by individuals availing personal loans.

bajab-finance-personal-loan-1

Eligibility Criteria for Personal Loan

  • The age limit of an individual should be in between 25-58 years.
  • An individual need to be a salaried employee by profession.
  • The net monthly income of an individual should be average ₹  35,000 (Varies subject to the location and employer)

How to track your personal loan status ?

There are two ways of checking your Bajaj Finance Personal Loan Status :

Step I

  1. Go to the Personal Loan page by visiting Bajaj Finserv website  and click on “Apply Online”. Once you are directed to the page, then click  “ Track Application” given above the top of the webpage.
  1. Submit your mobile number and reference number.
  2. Click the ‘Go’ button to view your application status.

Step II

  1. 1. Click the Bajaj Finserv link : http://mysite.bajajfinservlending.in/Contact-Us/FileStatus.aspx.
  2. Enter your case id/loan id/file id.
  3. Click the ‘Submit‘ button.

Home Loan-

Home loans are available to those who are ready to occupy the property. The loans are available also on the fixtures and fittings as a part of refurbishing your home. The loans are placed upon you so as to remove your worries of looking unnecessarily for a separate Personal Loan or a Home Improvement loan either.

Home Loans are offered both to salaried employees and self-employed persons. Moreover, 3 EMI free months facility is available to those looking up to plan out their finances. Refinance facility is also available if the property has been purchased within the last 12 months through their own sources of funds and avail a loan upto the registered value of their property.

Home Loan for Salaried employee-

Home loans can be approved on an instant basis in 5 minutes where the lowest interest rates start from 8.85% p.a. for the loan amount starting from ₹  30 Lacs to ₹  5 Crores.

As a salaried employee, you can also decide for part-prepayment of your loan after paying your first EMI. As no charges are applicable upto 6 times in a calender year, so each part-payment cannot be lesser than the total of 3 EMIs. Plus there are no foreclosure charges admissible thereon which brings an additional advantage to you.

Home Loan for Self-Employed professional-

The lowest possible interest rates are applicable for loan amount upto ₹ 15 crores. The additional advantages for self-employed individuals range from securing 3 EMI holiday, getting sanction for 4000+ pre-approved properties and getting a Flexi-home loan on top-up plans.

Eligibility Criteria for Home Loan-

  • Individuals availing home loan need to be an Indian Resident
  • Individuals need to be at least 25 years of age when the loan is sanctioned
  • Individuals need to be a salaried person with a work experience of 3 years or more

How to track your Home loan status?

  • Go to the Home Loan Section by visiting Bajaj Finserv website  and click on the  “ Track Application” given above the top of the webpage.
  • Enter your mobile number and reference number.
  • Click the ‘Go’ button for viewing  your application status.

Business Loan-

Business loans are really very helpful to secure finance and increase working capital for your enterprise. It is an unsecured loan amount offered by Bajaj Finance as the loan amounts are available upto ₹ 30 lakhs at a fixed rate of interest. There is no need to provide any guarantors or give any collateral to avail Business loan from Bajaj Finance. Also, the pre-approved offers are also available which include a top-up loan or even reduction of rates from time to time.

Eligibility Criteria for Business Loan-

  • To become eligible for a business loan, you need to be either of the following :
  • Limited or Private Limited Company
  • Partnership or Proprietorship Firm
  • Chartered Accountant / Self Employed Professional

How to track your Business Loan Status?