Online loan may offer different methods for making payments. Many people who work with online loan prefer the convenience of having payments automatically deducted from their bank accounts.
2. A personal loan, also called a signature loan, is an unsecured loan granted for personal use. This is
usually used for meeting expenses like home improvement, medical emergencies or major domestic
purchases. You can get a personal loan in the range of Rs.50, 000 to Rs.20, 00,000. The repayment
period usually varies from 1 to 5years.
Do you want funds readily available to you whenever you desire or need, be it a sudden vacation
that you plan with your family or urgent funds required for medical treatment? SBI Saral -
Personal Loan is the answer to your questions.
Access this facility from over 3000 branches across the country and confidently face the
challenge of meeting any kind of personal expenses!!
Enjoy the SBI Advantage:
Low interest rates. Further, we charge interest on a daily reducing balance!!
Low processing charges; only 1%-2% of loan amount.
No hidden costs or administrative charges.
No security required ……which means minimal documentation…something that you had
always wanted.
No prepayment penalties. Reduce your interest burden and optimally utilize your surplus
funds by prepaying the loan (1% of the loan amount will be charged if you repay the loan
before 6 months).
Long repayment period of up to 48 months.
The Scheme
Purpose
The loan will be granted for any legitimate purpose whatsoever (e.g. expenses for domestic or
foreign travel, medical treatment of self or a family member, meeting any financial liability, such
as marriage of son/daughter, defraying educational expenses of wards, meeting margins for
purchase of assets etc.).
Eligibility
You are eligible if you are a Resident Indian National having capability to repay a loan, except
agriculturists. (At present, only salaried individuals are covered under the scheme).
Salient Features
Loan Amount Your personal loan limit would be determined by your income and repayment
capacity.
3. Minimum:
Rs.24, 000/- in metro and urban centre’s.
Rs.10, 000/- in rural/semi-urban centre’s.
Maximum:
12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of
Rs.10 lacks in all centres.
Documents Required
Important documents to be furnished while opening a Personal Loan Account:
For existing bank customers.
Passport size photograph
From salaried individuals
Latest salary slip and Form 16.
Margin
We do not insist on any margin amount.
Interest Rates
3.25% above SBAR floating i.e. 16.00% p.a.
Repayment
The loan is repayable in 48 EMI. You are allowed to pay more than the EMI if you wish to,
without attracting any prepayment penalty.
Security
NIL
Processing Fee
Processing charges are 1-2% of the loan amount. This is amongst the lowest fees in the industry.
Processing fees have to be paid up front. There are no hidden costs or other administrative
charges.
Personal Loan Interest Rates
4. Interest rates ranging from 16% p.a. to 21% p.a.
Processing fee - 2% of the loan amount
Prepayment Charge : 4% of the prepaid amount (which would be allowed only after 6 months from the
date of loan disbursal)
*
The loan amount would vary based on the city of residence, documents submitted, category of
company etc.
EMI date will be the 1st or 10th of every month, depending on the loan disbursal date.
Terms and conditions apply. All loans at the sole discretion of The Honking and Shanghai Banking
Corporation Limited, India. Loans available for applicants and properties in and around the limits of
cities where HSBC has branches and is subject to change from time to time.
Please be advised that vide Notification No. 02/2012 - ST dated March 17, 2012, a service tax of 12% +
2% education cess + 1% secondary and higher secondary education cess thereon will be applicable on
our fees and charges, with effect from April 01, 2012. Please click here for Service Tax details. Fees and
charges are subject to change at the sole discretion of the bank.
Bank
A bank is license by a government. Its primary activity is to lend money. Many other financial activities
were allowed over time. For example banks are important players in financial markets and offer financial
services such as investment funds in some countries such as Germany, banks have historically owned
major stakes in industrial corporations while in other countries such as the United States banks are
prohibited from owning nonfinancial companies. In Japan, banks are usually the nexus of a cross-share
holding entity known as the zaibatsu. In France, banc assurance is prevalent, as most banks offer
insurance services (and now real estate services) to their clients.
The level of government regulation of the banking industry varies widely, with counties such as Iceland,
the United Kingdom and the United States having relatively light regulation of the banking sector, and
countries such as China having relatively heavier regulation (including stricter regulations regarding the
level of reserves).
History
Banks have influenced economies and politics for centuries. Historically, the primary purpose of a bank
was to provide loans to trading companies. Banks provided funds to allow businesses to purchase
inventory, and collected those funds back with interest when the goods were sold. For centuries, the
banking industry only dealt with businesses, not consumers. Banking services have expanded to include
services directed at individuals, and risk in these much smaller transactions is pooled.
About Banking:-
6. Of course, not everybody will qualify for an HDFC personal loan, but you’d be surprised. Plenty of people
who didn’t think they were going to be able to borrow any money found themselves with sudden stacks
of cash (well, a sizeable deposit into their bank account). This could easily happen to you. All you need
to do is contact HDFC bank personal loan and you’ll be on your way.
