How To Buy Tata Nexon Car on Zero Down Payment

Tata Nexon Car on Zero Down Payment is available now as an option. Just go through this article to understand the requirements to avail this facility. We at The Loan Details brings you comprehensive and research based informative content.

Making its stylish arrival in the world of automobiles, the New Tata Nexon has made its mark in the hearts of the people with its power-packed performance and premium features. It has been one of best selling car for many months so far.

Eligibility Criteria to Get the Car Financed

  • Self employed or have fulltime job in public or private sector
  • Age between 21 to 60 years
  • Minimum Monthly Income Proof or Rs. 20,000/-
  • CIBIL Score of above 700
  • KYC Documents as per local resident guidelines

Documents Required to get Tata Nexon Car on Zero Down Payment

How To Get Instant Mobile Phone Loans with Zero Down Payment

Mobile Phone Loan is now just a click away. After reading this article you will be able to get instant mobile phone of your choice. You can get a loan through a bank, financial institution or even an app on your phone to buy mobile on EMI amount of your choice.

Reasons you need to get instant mobile phone Loan

  • You may need to update your old mobile
  • You want a high-end model that’s out of your budget
  • Lost your expensive mobile and can’t afford to replace it at this moment
  • Phone malfunctioned after being out of warranty
  • Your Online classes are easy on Mobile Phone
  • You wanted to gift a mobile phone to your friend or family but do not have enough money

Eligibility Criteria

Must be a full-time salaried employee with a minimum take-home salary of ₹ 20,000/month

OR

Must be a self-employed professional with an income of at least ₹ 20,000/month

Have Valid Adhar, Pan, Bank Account, KYC Document

Have Good CIBIL Score- Above 700

Where to Get the Instant Mobile Phone Loan

You just need to visit your nearest Shop where Mobile Phone in sold on Finance on EMI. You will easily get the Loan Approval from his choice of lenders. Otherwise You may also apply online with following lenders

  • Bajan Finance- Bajaj Mall
  • Hero Fincorp
  • Home Credit
  • Money View App
  • Zest Money
  • Money Tap App
  • All national Banks-Government and Private Both
  • Co-Operative Societies
  • Loan Pe Phone App

Moreover You may use your EMI Card, Debit Card, Credit Card to finance your Mobile Loan. It is done within few minutes.

How to Get Instant Personal Loan for CIBIL Defaulters

Finding yourself in a situation where you need an urgent Personal Loan as a CIBIL defaulter can be tricky at times. But worry not because we are here to guide you.

Ways to Avail Personal Loans for CIBIL Defaulters

We understand the unique circumstances faced by CIBIL defaulters and provide viable solutions. Here are some of the ways you can use to get a Personal Loan in case of CIBIL defaults-

1. Seek out specialised lenders

Look for financial institutions or lenders specialising in providing loans tailored to CIBIL defaulters. Hero FinCorp understands the unique circumstances and challenges individuals with a history of CIBIL defaults face, making them more likely to offer suitable loan options.

2. Explore loan options tailored for CIBIL defaulters

We have customised offers for CIBIL defaulters. However, you might get lower amounts at higher interest rates in such cases.

3. Provide collateral or opt for a secured loan

Offering collateral, such as property or assets, can increase the chances of loan approval for CIBIL defaulters. Lenders may be more willing to extend credit when they have an asset to secure the loan against.

4. Improve creditworthiness through timely payments

Take steps to improve your creditworthiness by making timely payments on existing debts. Demonstrating responsible financial behaviour over time can help rebuild your credit history and increase your chances of getting approved for a personal loan.

5. Consider a co-applicant or guarantor

Including a co-applicant or guarantor with a good credit history can enhance your chances. The lender may consider their creditworthiness and income stability, reducing the perceived risk and increasing the likelihood of loan approval.

How to Find out and Remove Your Name from the CIBIL Defaulter List?

Finding out if your name is on the CIBIL defaulter list and taking steps to remove it is crucial for taking necessary actions to improve it. Here’s how you can do it-

● To begin, you can obtain your credit report from CIBIL by visiting their official website and following the necessary procedures. The report will provide insights into your credit history, including any defaults.

● If you discover that your name is on the defaulter list, rectification is next. Contact the lender involved and settle any outstanding dues or negotiate a repayment plan.

● Once the dues are cleared, the lender will update CIBIL accordingly.

● Regularly monitoring your credit report and maintaining healthy credit habits will ensure a positive credit profile and increase your chances of being removed from the lsit

How To Improve CIBIL Score Quickly

CIBIL Score or credit score is a numerical expression based on a level analysis of a person’s credit files, to represent the creditworthiness of an individual. It is primarily based on a credit report, information typically sourced from credit bureaus.

Your CIBIL score is an important factor that lenders look at while evaluating a loan application. Hence it’s important to understand how the score is calculated. While there is a proprietary algorithm that determines your CIBIL score, the most important elements of the score composition are based on an individual’s loan payment behavior.

What is the CIBIL score?

Your CIBIL score is a 3-digit numeric summary of your credit history, derived by using details found in the ‘Accounts’ and ‘Enquiries’ sections of your CIBIL report, including (but not restricted to) your loan accounts or credit cards, and their payment status, as well as outstanding amounts’ days past due. The score reflects your credit worthiness, based on your borrowing and repayment history, as shared by lenders.  Your CIBIL score ranges from 300 to 900 and the higher your score, better are your chances of getting a loan approved. In fact, 79 percent of loans are sanctioned to consumers with a CIBIL score greater than 750

How is the CIBIL score calculated?

There are four key factors that impact your CIBIL score:

  • Payment history: Making late payments or defaulting on your EMIs has a negative impact on your score.
  • Credit mix: Having a balanced mix between secured loans and unsecured loans is likely to have a positive impact.
  • Multiple enquiries: Too many loan enquiries may have a negative impact on your score as it indicates that your loan burden may go up in the future.
  • High credit utilisation: A high credit utilisation limit indicates a rising debt burden over time and may negatively impact your score

How can you work towards a high CIBIL score?

Your CIBIL score is based on your credit history and past payments, but it subsequently impacts your future access to credit. What you do today can help you build a stronger and healthier credit footprint. Here are a few quick tips to help you improve your score:

  • Always pay your dues on time. Late payments are viewed negatively by lenders.
  • Keep your balances low. Be prudent, do not use too much credit, and control your utilisation.
  • Maintain a healthy credit mix of secured (like home loan and auto loan) and unsecured loans (like personal loan and credit cards) — too many unsecured loans may be viewed negatively.
  • Apply for new credit in moderation. This shows that you are not continuously seeking excessive credit.
  • Monitor your co-signed, guaranteed and joint accounts monthly. Remember that you are held equally liable for missed payments in co-signed, guaranteed or jointly held accounts, and your joint holder’s (or the guaranteed individual’s) negligence could affect your ability to access credit when you need it.
  • Review your credit history frequently throughout the year. Monitor your CIBIL Score and Report regularly to avoid unpleasant surprises (like a rejected loan application). Checking your report regularly will also alert you to possible inaccuracies, if any. In case you spot any discrepancy, you can log a dispute on the CIBIL website or request the lender to report the correction to CIBIL.

All About MSME Loans

An MSME loan or an SME loan is a credit facility extended by banks, small finance banks, and non-bank finance companies such as IIFL Finance to micro, small, and medium enterprises.

MSME loans are either unsecured or secured loans given by financial institutions to meet various expenses to businesses as well as individuals, sole proprietors and partnership firms. Startups are also eligible for MSME loans.

These loans can be availed for a wide range of purposes, including for investments in plant and machinery, buying inventory, and making payments to staff or vendors.

Main Features of MSME Loan

Loan amount: MSME loans can be of varying amounts depending on the requirement of businesses. Most banks and NBFCs provide loans starting from Rs. 50,000. The loans can go up to Rs. 10 crore or even higher

No collateral: Lenders do not seek any collateral for unsecured MSME loans, and hence small business owners don’t have to worry about providing any security. Secured loans, however, do require a collateral

Flexible repayment: Banks and non-bank finance companies provide flexible repayment options for the repayment of MSME loans. The tenure is designed based on the cash flows and other receivables. Usually, the tenure ranges from one to five years but it can be mutually decided by the lender and borrowers. There is also an option for part-prepayment.

Digital application: The MSME loan can be applied for online, cutting down on the hassle of paperwork, which often results in delays in availing loans. Most lenders provide an end-to-end digital application process

Approval process: Once all the documents are submitted, lenders undertake a verification exercise. Post that, the MSME loan amount is disbursed within three-four days of the application

Processing fees: Borrowers may have to pay charges such as processing fees, which usually range between 2-3% of the loan amount. There are no other hidden charges levied on borrowers.

Interest Rates: It has a lower rate of interest starting from 7.65% per annum. However it varies from lender to lender.

How to get SBI Home Loan easily ?

SBI Home Loans are offered by the State Bank of India to help individuals buy or construct a house. It has the following features.

  • Low interest rates, starting at 8.40%
  • Low processing fees, starting at 0.35% of the loan amount
  • Repayment periods of up to 30 years
  • No penalty on prepayment
  • Balance transfer options

Eligibility to get SBI Home Loan

  • Resident Type: Resident Indian
  • Minimum Age: 18 years
  • Maximum Age: 70 years
  • Loan Tenure: up to 30 years.
  • Having a verified property with supporting documents
  • Regular source of income from Job or Business to pay EMI

SBI Home Loans are available for

  • Purchasing a plot of land to construct a house
  • Salaried applicants with at least 2 years of experience, aged between 21-45 years
  • Loan amounts of INR 20 Lakh or above
  • Repayment periods of up to 10 years

List of papers/ documents applicable to all applicants

  • Employer Identity Card
  • Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
  • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Property Papers

  • Permission for construction (where applicable)
  • Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
  • Occupancy Certificate (in case of ready to move property)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
  • Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
  • Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement

  • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Salary Slip or Salary Certificate of last 3 months
  • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

  • Business address proof
  • IT returns for last 3 years
  • Balance Sheet & Profit & Loss A/c for last 3 years
  • Business License Details(or equivalent)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)

How to get loan with low CIBIL score

Your low CIBIL score will no more be a trouble in getting loan easily. CIBIL Scores are measured on a scale between 300 and 900, with 900 indicating the highest and 300 being the lowest. The minimum CIBIL score that a borrower generally needs to maintain to be easily eligible for a personal loan is above 700

You can avail of a low CIBIL score instant loan by applying with a joint applicant. You can apply for a loan with your parents, spouse, or siblings. The co-applicant, however, needs to have a high CIBIL score at the time of application.

What is Commercial Vehicle Loan?

A Commercial Vehicle Loan is a secured loan that assists you in purchasing any commercial vehicle essential for your transport business.

Are your looking to purchase passenger car cab or taxi and earn with companies like OLA, Uber? Do have plans to start or expand your goods transport vehicles fleet of trucks, tankers, Buses? Then, you have come to the right place. Here you will get all the loan details in one place.

How many types of commercial vehicle loans are there?

  • New
  • Used/ refinance/ re-purchase finance
  • Balance transfer
  • Top-up loans

Which type of Vehicle you can purchase?

Get commercial vehicle finance on wide range of vehicles – ranging from 1.5-tonne to 49-tonne GVW (Gross Vehicle Weight):

Cab- Passanger Car- 5/7 seater

Buses

  • Intracity
  • Intercity
  • School and college bus
  • Staff bus

Trucks

  • Small truck
  • Light truck
  • Medium truck
  • Heavy truck
  • Customised truck

Tankers

  • Milk tanker
  • Water tanker
  • Oil tanker
  • Chemical tanker
  • Petroleum tanker
  • Gas tanker

Tippers

Transit mixers

Tempos

Which manufacturer is your best for you?

Purchase your commercial vehicle from some of the best Indian automobile companies

  • Tata Motors
  • Eicher Motors
  • Volvo
  • Mahindra Navistar
  • MAN
  • AMW
  • Mahindra & Mahindra
  • Swaraj Mazda
  • Bajaj Tempo
  • Ashok Leyland

Who Can Avail Commercial Car Loans?

Banks and other lenders offer commercial car loan to a broad array of customers to meet their business needs. In other words, this type of vehicle loan can be availed by various segments of customers having diverse profiles. Here is the list of the consumers considered to be eligible for this loan:

  • Individuals
  • First-time users and buyers
  • Small, medium and large-sized fleet owners
  • Proprietorship firms and Partnership firms
  • Public Limited & Private Limited Companies
  • Trusts and societies
  • Schools and colleges
  • Captive customers and transporters

Salaried and self-employed individuals can co-apply for a commercial vehicle loan with blood relatives or family members. On the other hand, the partners in partnership firms and the directors in private limited companies can jointly apply for this loan.

Benefits of a Commercial Vehicle Loan

Commercial vehicle loan stands out to be the most preferred option for borrowers who are either intending to buy their first commercial vehicle or planning to add a new vehicle to their existing fleet of commercial vehicles due to the plethora of benefits that it offers.  Some of the main features of commercial vehicle loans are mentioned below:

  • Flexible Repayment Tenure: Usually, the repayment tenure offered in commercial car loan is up to 5 years. This ensures low EMI amount to the borrowers enabling them to pay off the EMIs without any undue financial burden.
  • Multiple Vehicle Financing: Whether you are an individual borrower or a fleet owner, you can get finance for a variety of vehicles such as tippers, trucks, buses, trailers, tankers, and other small and light commercial vehicles to grow your business.
  • Easy Processing: The process of applying for a commercial vehicle loan is easy, fast and convenient. After the submission of all the required documents, banks usually take 4-5 days to process a new or used vehicle loan application.
  • Simple Documentation: Commercial vehicle loans come with a hassle-free and quick documentation process. The users can easily upload all the mandated documents online without visiting the bank directly.
  • No Credit-Score Compulsion: Unlikely other loans, commercial vehicle loans don’t require any existing credit score. Borrowers having low or even zero credit score can avail a commercial vehicle loan with ease.
  • Caters to Multiple Needs: The loan schemes are designed to cater to the borrowers’ diverse requirements including new and used vehicle financing, top up on existing loan and refinancing of loans/vehicles for working capital.
  • Customised Solutions: In order to meet the specific requirements of the customers, every commercial vehicle loan scheme is customised according to the vehicle type, loan duration and financial ability of each individual borrower.
2
Oct, 2023

Top 10 Reasons Why You Should Avail Gold Loan

Gold Loan is a quick & easy way to get money when you need it utmost. You would easily get up to 75% of Gold Value. Most of the household in India consider gold as an asset to be used in emergency only. Now we have lenders offering lucrative gold loans customized as per our needs.

There are many reasons which makes the gold loan a smart financing solution. Lenders also offer this Loan on lower interest rates and maintain complete transparency in loan disbursal and repayments. It is just like other personal loan with more freedom.

Here we have listed some of the reasons for your ready reference:

Advantages of Gold Loan

1.It is easy and simple to avail

2.No credit history is required for it

3.No income proof is required

4.70% to 80% of total value of gold is given as loan

5.Lower interest rate of 12-13% percent is charged compared to personal loan or other loan

6.Easy repayment option. You only pay the interest till when you borrow it

7.Entire loan amount can be returned without any penalty of foreclosure in one shot

8.Less time required at the time or loan processing

9.Lower processing fees

10.Best loan option in category

11. No Requirement of higher credit score or cibil score

Further you have some more silent features to consider when you avail any gold loan. Your gold jewelry is kept in highly secure vault 24*7. In other words your gold has free insurance when kept with lender. There is no restriction in using the loan amount in any purpose. You get the freedom to use the money as per your need such as marriage expenses, education fee payments, travel expenses, higher interest loan repayments.

What Are The Documents Required for Applying for a Home Loan

Proof of Identity: Copy of any one (PAN Card, Passport, Aadhaar Card, Voter’s ID Card, and Driving License)

Proof of Age: Copy of any one (Aadhaar Card, PAN Card, Passport, Birth Certificate, 10th Class Mark-sheet, Bank Passbook, and Driving License)

Proof of Residence: Copy of anyone (Bank Passbook, Voter’s ID, Ration Card. Passport, Utility Bills (Telephone Bill, Electricity Bill, Water Bill, Gas Bill) and LIC Policy Receipt

Proof of Income for Salaried: Copy of Form 16, latest payslips, IT returns (ITR) of past 3 years, and investment proofs (if any)Proof of Income for Self Employed: Details of ITR  of last 3 years, Balance Sheet and Profit & Loss Account Statement of the Company/Firm, Business License Details, and Proof of Business Address

Property-related Documents: NOC from Society/Builder, detailed estimate of the cost of construction of the house, registered sale deed, allotment letter, and an approved copy of the building plan.

Note: The above list is indicative and your lender might ask for additional documents