Thursday 20 March 2014

Looking for a Collateral free business loan for your business in chennai?

BUSINESS LOAN in chennai

Made Simple

Looking for a Collateral free business loan for your business in chennai?

Collateral Free business Loans for a wide range of Business purposes

· Business Loans without any primary or collateral security requirements

· Business Loan - Rs. 7 lakhs to 2 Crores

· Business Loan Tenure - 12 to 48 months

Eligibility Criteria

· At least five years of operations for the business in chennai

· Minimum turnover of Rs. 40 lacs in the manufacturing and trading industries, and Rs.15 lacs in the service industry.

· Cash profit for the previous two years.

Unsecured Business Loans in Chennai upto 7.5 Lakhs for Micro business loan SME Enterprises in chennai

· Loans without any primary or collateral security requirements.

· Business Loan - Rs. 3 lakhs to 10 lakhs.

· Business Loan Tenure - 12 to 36 months

Business loan in Chennai Eligibility Criteria

· At least three years of business operations in chennai

· Simple documentation requirements

· Positive business net worth in chennai

Business loan in Chennai Features and Benefits

Business Loan in Chennai up to 45 lacs

Business Loan in Chennai No Guarantors. No Collateral

Business Loan in Chennai Prompt Repayment Benefit

Business Loan in Chennai Part Prepayment facility

Business Loan in Chennai Nil Foreclosure charges

Business Loan in Chennai Preapproved Offers

Business loan in Chennai Eligibility and Documents

You could avail our Business Loan in Chennai if you are any one of the following:

Limited or Private Limited companies
Partnership or Proprietorship Firm
Chartered Accountant

Income Details

IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure

Business Proof

Certificate of Practice

MOA, AOA/ Partnership Deed/ Shop Act License

Contact: Miss.shanthi -

9551610484, 9841932511, 7871620603, 044-24842488.

E mail : vijaycapitals@gmail.com

Log in : www.vijaycapitals.com

Wednesday 12 March 2014

Top up your Existing loan..!! Loan in Chennai.

Is a top up loan right for you?

The need some extra cash to meet a need often arises, it may be to pay admission fees for the child’s education or undergo a surgery or for renovation the ..

Rahul Ghanekar, 39 year old doctor needed some money to expand his clinic. While he was talking to one of his old patients about it, the patient mentioned the option of taking a top up loan at a very attractive rate.

A top up loan is infact one of the best options for borrowing funds at a low cost. The tenure of these can go up to 15-20 years, depending on your home loan's term. "It is offered only to existing customers. The maximum tenure could be the same as the balance repayment period.However, it is based on our evaluation," says a spokesperson from a HFC. "Usually, the total of outstanding home loan amount and the top-up loan does not exceed 70% of the property's market value.Interest rates on top-up loans are quite low when compared to personal loans. Their EMIs are low because of longer terms, while the amount you would be eligible for is higher," adds a spokesperson from a leading HFC.

The money raised from a top up loan can be used for any purpose (other than speculative activities) including education, marriage or even a holiday.

The better option
A top up loan is often the best choice for borrowing. It offers the advantage of a great interest rate, paperwork that is already done and comfortable tenure. SBI has one of the lowest rates offered for top up loans at 11.25%. Most top-up loans will attract a rate between 11.25-13% currently. If compared with other types of loans you can see why a top-up loan is a clear forerunner.

Loan type	Rate of interest	Repayment tenure
Top up loan	11.25-13%	5-20 years
Gold loan	11.25- 25%	1-3 years
Personal loans	15-25%	1-5 years

The main advantages of a top-up loan are a lower rate of interest, longer tenure and virtually no paperwork.

Things to watch out for

Even though a top-up loan can be used for any purpose, some banks like Bank of Maharashtra offer a lower rate if the loan is used for actual improvements/extension of the home. The rate is higher if it used for other purposes.
If you choose to pre-pay the loan, there might be hefty penalty attached to it as high as 4% in some cases.
Top-up loan may be available to the customer only after he has repaid specified EMIs of the original home loan i.e. the home loan should be repaid to some extent.
There might be processing charges and other charges which would hike up the cost of the loan.
Top-up loans are not suited for everyone as they are meant for people who have an existing home loan and have repaid some specified part of it.
The amount of loan is usually limited by the EMIs repaid.

Top-up loans may be the best choice available if you want to raise some cash for personal purposes. Do explore it before looking into other expensive options.

The author is Co-Founder & Director, CreditVidya

SOURCE : indiainfoline.com

Key terms: Personal loan in Chennai, Loan in Chennai, Personal loan.

Contact: 9551610484, 9841932511, 7871620603, 044-24842488.

E mail : vijaycapitals@gmail.com

Log in : www.vijaycapitals.com