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Ask and discuss your queries related to different loans and advances like Auto Loans,Housing Loans, SME Loans,Personal Loans,Overdraft,CC limits etc. Share and discuss on various topics related to Advances and Loans.
Calculation of Cutback is an important parameter for deriving the loan eligibility. THE amount you can borrow from banks or any lender depends on how much you can afford to repay per month in EMIs or Equated Monthly Instalments. What the bank calculates is ‘how much you can afford to repay’ ? Learn in Easy Steps […]
Unsecured Loans are now most secured assets for Banks in India – Personal loans are most secured loan for lenders, if considered the recent data shown by CIBIL. Personal Loan borrowers who essentially borrow without any security, rose 26 per cent in the September quarter with NPA level is still the lowest at 0.5%. Personal […]
The finance ministry has directed all the Public Sector Banks (PSBs) to create a common MSME loan product with integrated features and common documentation for loan requested through new initiative www.psbloansin59minutes.com. Any Indian citizen may get approval for MSME loan upto Rs One Crore via this portal in 59 minutes. The facility is available for businesses […]
Unique Document Identification Number (UDIN) is being introduced by CA Institute for Checking Authenticity of CA-Certified Documents. Using UDIN, Banks and other regulators like RBI, SEBI etc, will now have a mechanism to check the authenticity of various documents certified by practising chartered accountants. The new system has gone live from July 1 UDIN is introduced to curb […]
A big relief for lenders and bad news for defaulter of loan or credit card payment or someone who are evading the bank by not receiving their calls or changing your residence ? – Bombay High Court has ruled that the Legal notice or messages sent through WhatsApp messaging app are valid legal evidence under […]
Bank’s MCLR Rates Hike – Top three lenders in India SBI, ICICI, PNB bank has raised their MCLR lending rates by 0.1% making loans costlier for consumers. Increased Interest Rates are effective from 01st June. MCLR (marginal cost of funds based lending rate) is the interest rate whichis applicable mainly on Housing and Car Loan. With […]
CGTMSE Coverage extended to Retail Trade & Collateral Loans also – Now Retail Trades & partial collateral loans may be covered under Credit Guarantee Scheme of CGTMSE. A decision in this regard taken under “Rebooting CGTMSE” organized by Ministry of MSME and CGTMSE on February 20, 2018. Following modifications were recommended for implementation : Charging Annual […]
Recently P2P lending is much in news after RBI revised the policy with Rs 50,000 maximum cap. What exactly is the P2P lending ? P2P lender simply brings lenders and borrowers together on a common online platform so that they can transact with each other. P2P lending is a type of debt financing that allows individuals […]
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