How to Apply for Working Capital Loan? Check Benefits Here

Some of the important benefits of working capital loan are:

No Collaterals Required

Anyone with good credit history can apply for unsecured working capital loans wherein they can avail loans without pledging any collateral. However, one must be very careful with the repayments and make sure that there is no default.

Easy & Flexible

Working capital loans can be availed conveniently and without any hassles. The loan normally comes with different repayment terms and interest rates. These assist the applicants in working out their cash flow.

No Restrictions Imposed

In most of the cases, working capital loan has very little or no restrictions. The lender’s only expectation is that the amount availed as loan should be spent on enhancing the revenue or for managing daily operations.

Who Can Apply for Working Capital Loan?

All those who have run a business for a specific duration that is producing certain annual turnover are eligible for working capital loan.

Find below the list of firms that can apply for working capital loan

Sole Proprietorship
Partnerships
Private and Public Limited Companies

IndiakaLoan.com – A True Friend Indeed!

The importance of working capital loans can be understood from the fact that there are numerous banks/NBFCs that claim to offer lowest interest rate working capital loan. It is therefore important to go through every offer carefully. However, it is not possible for anyone to go through scores of offers. It is here that IndiakaLoan.com comes into play and helps its applicants in zeroing in on a lender whose offer best complements his requirements.

Need Home, Business or Personal Loan? IndiakaLoan.com is Best

A loan is money borrowed at the time of crisis or urgent need with a promise of return within a specific time period. The banks and NBFCs decide a fixed interest rate that you have to pay on the money you borrow, along with the principal amount borrowed. There are various types of loans available in India such as home loan, personal loan, car loan, student loan, payday loan, debt consolidation loan, and so on.

The types of loans in India are classified on the basis of two factors:

If they involve collateral
The intention for which they are used

There are basically two types of loans:

Secured Loan
Unsecured Loan

Secured Loan

A secured loan is provided against collateral security of any of your valuable assets. Such type of loan is regarded as the most flexible loans as it is provided in lower interest rates and longer repayment tracks. This type of loan is offered in a lenient way since the lender does not have any sort of risk in the loan amount as he/she can go for the foreclosure of the asset, especially in the case when the borrower makes any drift in the loan repayment. The equity loan, car loan, and the home mortgage are some of the loans categorized under secured loans.

Unsecured Loan

On the other hand, the unsecured loan is provided without any collateral security. Since the lenders have the risk of their money involved, the rates and other attributes of loan are very narrow. The borrowers cannot enjoy many privileges in the unsecured loan. Also, you should have a good credit history in order to avail this loan. Such type of loan usually comes at a higher rate of interest due to the lack of collateral. Personal loan, short-term business loan, education loans, and vehicle loans are some of the loans categorized under an unsecured loan.

IndiakaLoan.com is one of those financial advisors and loan provider in India who provide the correct and professional advice to those seeking any type of these loans. It does not just lend help in finding the best loan provider but also help you through the entire gamut of the loan process, be it handling the documentation or disbursal. Call at 9650899903 for more details.

Why are MSME Loans Important for Business Owners?

It indeed can become difficult at times for entrepreneurs to arrange for finances on time and without any hassles. It is here that SME loans prove their relevance and prove to be very helpful. Easy and hassle-free SME loan is god send, particularly for up and coming businesses, and help them in meeting their financial requirements on time and without any hassles.

Moreover, one can avail MSME loan without collateral. Apart from attractive interest rate, the loan also offers a unique flexi-loan facility, and approval in just one day. There can be no denying the fact that collateral free SME Loan with lowest interest rate is perfect for businesses.

The value of SME loans therefore gets firmly established. However, for individuals it can prove to be a herculean task to avail SME loans. The reason for this is not difficult to understand. There are a host of financial institutions that offer SME loans and it is not possible for any individual to opt for the one that best serves his purpose.

IndiakaLoan.com – A Perfect Guide

It is here that companies like IndiakaLoan.com comes into play and helps the applicant in availing lowest interest rates SME loans from lenders who offer best supports the requirements of the applicant. The company has tie-ups with 40+ prominent Banks/NBFCs and is therefore in a far better situation to assess the requirements of the applicant and guide him accordingly.

Advantage of Availing SME Loan Through IndiakaLoan.com

Quick Processing
Flexi-Loan Facility
Minimal Documentation
Online Fund Management
Pre Approved Offers

The above account clearly brings to fore the importance of SME loans and the fabulous role being played by IndiakaLoan.com in helping individuals get SME loans from the best possible lender in the country.

All you need to know about Loan against Property

In today’s competitive world, one needs money for almost everything, from funding one’s own business to pay for the education of children. But from where does the money come for various needs? In the current scenario, there are many ways in which the person can source money and the foremost option is to avail a loan. One such loan is a loan against property. The loan against property is given against the mortgage of one’s property.

Steps involved in the process of Loan against Property

1. Application

The loan application sets the ball rolling in a loan against property. All you gotta do is opt for the right lender and fill the form with necessary details.

2. Eligibility criteria

The eligibility criteria to avail this loan differ from lender to lender. One of the foremost points to note here is that a person’s finances should be of sound nature. The banks and NBFCs consider certain points such as how much you earn, how much your savings are, as well as the debts you possess. A thorough check will also be done to ensure that you have disposed of previous loans and that you hold a clean record when it comes to making credit card payments.

3. Processing

After applying for a loan, the banks and NBFCs start processing your application and the lender may also call you for a discussion. You should take original documents with you, after which the financial institution will conduct a field investigation of the matter and evaluate the documents provided by you.

Documents needed include address proof, age proof, income proof, property papers, and employment details. After submitting the documents, you may also be asked to shell out a processing fee as well, which is 1-2% of the desired loan value.

4. Loan sanction

After verifying the financial credentials, the banks/NBFCs will work out loan eligibility amount for you, which is put up in an offer letter with terms and conditions mailed to you. One need to recheck the loan against property interest rates in a flexible repayment schedule.

5. Legal check

The lender will now conduct a legal check on the concerned property that you plan to mortgage.

6. Loan disbursal

When the bank/NBFC is convinced for your loan repayment capacity, it disburses the loan via a cheque or demand draft (DD).

Things to Consider Before Availing Personal Loan

There are times when you need extra money to finance a special project such as leisure trip, broken car, expensive anniversary gift or a due bill that must be paid. Simply put, it is an unsecured loan, personal loan possess high-interest rate associated with it. Unlike other loans, it is not secured against any asset.

Personal Loan Eligibility criteria

Generally, the eligibility criteria vary from lender to lender including occupation, income, age, ability to repay the loan, and place of living.

However, financial institutions distribute potential borrowers into three categories:

Salaried individuals
Self-employed individuals
Self-employed professionals

Factors to consider before choosing a personal loan

There are various things to look at before availing a personal loan online. Few of them are mentioned below:

1. EMI and tenure

Foremost, assess various loan offers. Two points to note are the total money outflow that the loan will cost and EMI. Although loans with longer tenure and lower EMI may seem appropriate but not all such loans prove to be cost-effective in the long run. Therefore, calculate the complete loan cost and then head for a higher EMI so that you can handle shorter loan tenure.

2. Credit history

Do not forget to keep a track of credit history, especially in the case of unsecured loans. The credit history which is recorded by CIBIL (Credit Bureau India Limited) plays a bigger role than you would have imagined in the loan application being accepted. A good repayment track record enables instant loan approval.

3. Evaluate the cheapest loan offer

This type of loan generally comes with a higher rate of interest varying from 11.0% to 25%. Evaluate different interest rates and get a better understanding of the annualized rate of interest for every offer. This way, you can analyze the total amount of repayment you need to pay with all the offers before selecting for the loan of your choice.

4. Processing fee

One of the important things to keep in mind is the processing fee and similar fees that will be charged when you apply for personal loan.

With IndiakaLoan.com, you can avail various facilities such as paying up to 45% less EMI, Lesser documentation, flexible tenors, collateral-free loans, no hidden charges, and instant approval.

Advantages of the Channel Partner Program with IndiakaLoan.com

If you are passionate about growing in your career and give it a thrust than IndiakaLoan.com’s Channel Partner Program is just for you. The company extends its invitation to all those who want to grow along with this dynamic outfit. The interested people can join IndiakaLoan.com’s journey and be a part of the radical shift in the way search, compare and purchase of loan products is carried out.

Benefits of Channel Partner Program

Needless to say that the program promises a range of benefits for those who become a part of it. Some of the prominent advantages that this fabulous program promises to offer area:

Revenue Sharing: You can avail revenues sharing for every closure.

Timely Payout: On time and transparent payout.

Opportunity for Business Growth: Get access to 40+ banks/NBFCs that will enhance your reach across cities and product categories.

Additional Rewards: Higher payouts, free international trips, vouchers from Uber, Amazon, Flipkart etc. if you meet certain revenue targets.

Precise Analytics: CRM for lead tracking, commission tracking and complete visibility of your business.

Training and In-Person Support: To those who wish to understand how channel partner relationships work and gather knowledge of different loan products and processes.

Who all can become a Channel Partner with IndiakaLoan.com?

Chartered Accountant, Equity Sub Broker, Real Estate Agents, Ex-Bankers, Insurance Agents, as well as anybody who has great knowledge about loan products. However, one needs to possess a valid KYC to become channel partner with IndiakaLoan.com.

So, if you are passionate and enthusiastic for giving you career that much needed boost than IndiakaLoan.com’s channel partner program is meant just for you. All that you need to do is to get yourself registered and gain benefit from this fabulous offer from IndiakaLoan.com.

Calculate Your Loan EMI Online with EMI Calculator

Whether a person applies for a home loan, personal loan or car loan, he/she has to pay an Equated Monthly Installment. Soon after a person chooses to apply for a loan, he/she needs to research on the types of loans available in the market. Today, banks and NBFCs offer all types of loans in the market.

As you take advance cash from the financial institutions to purchase a dream home or car, it is evident that you have to pay back the borrowed money. Further, you also need to pay the interest along with the principal loan amount. The loan is paid back in EMIs and the EMI calculator makes it easy for the applicant to calculate the monthly installments.

EMI is the fixed monthly installment paid for the loan availed on a fixed time period including interest component for the period and a contribution towards the principal loan amount. EMIs depend on various factors and three important are the rate of interest, the loan amount, and the tenure of the loan.

Types of EMI Calculators

There are numerous types of Loan EMI calculators available for the evaluation of different kinds of loans:

Home Loan
Unsecured Business Loan
Personal Loan
Loan against Property
Loan against Shares
Machinery Loan
SME/MSME Loan
Loan for Working Professionals

How to calculate EMI?

To calculate the EMI, you will need three variables such as the loan period, the interest rate, and the present value. The interest rate is taken as a monthly rate as installments are paid on a monthly basis. For instance, if the rate of interest is 10% then, you have to divide it by 12. Also, the tenure is supposed to be the number of months. So, if the period for loan tenure is 20 years then, the tenure is supposed to be 20×12 = 240 months. As per the calculation, the EMI on a loan of Rs 50 Lakh at 10 percent interest rate with a time period of 20 years will be Rs 48,251.

All You Wanted To Know About Home Loan Online

Everyone dreams of owning a home. However, it is one dream that comes with many challenges as it is not easy to arrange for finances to realize this dream. Home loan comes in handy in such situations as it helps in arranging for finances that will help individuals in fulfilling this dream of theirs.

However, one must keep in mind that in cases of home loans, the banks use the home with a precise purpose to secure the credit and in case of defaults banks hold the right to recover their amount by disposing of the property.

As the home loan falls under secured loan category, the interest levied on it is invariably lower than unsecured loans. The loan amount that one can opt for depending on a number of reasons like income of the applicant, the record he holds as a customer, the city where he plans to buy his home and other components. What is worth noting here is the fact that home loan can also be applied jointly with relatives, spouse as well as others as co-candidates. Home loans, most of the times, have longer repayment tenure that can range from 5 to 30 years and is settled at the time of availing the loan.

It will be interesting to note that prepayment of home loans is also possible. However, there are some banks that charge prepayment fees while there are others that do not. It will therefore be in the best interest of the applicant to carefully go through the offer so that one is able to understand the terms and conditions of the lender.

However, it is very difficult for the individuals to go through the entire offer which might lead to confusions at a later stage. It is also difficult for the applicants to opt for a lender whose offer best supports his requirements in the absence of a guide.

It is here that Indiakaloan.com comes into play. The company has tie-up with 40+ banks and NBFCs and is in the best position to help the applicant get a home loan online from the best possible lender whose offer best supports his requirements.

All that the applicant has to do is to get in touch with the company and their executives will get in touch with him and help him through the entire home loan process.

All you Need to Know about Loan against Shares

The feature that distinguishes loan against shares is that you can withdraw money from the account and only have to pay interest on the amount and period used.

What is Loan against Shares?

Loan against shares is monetary loans which are offered against bonds, shares, mutual funds, insurance policies or bonds. It is basically a loan wherein you guarantee the securities you have spent in as security against the loan amount. The loan against shares is one of the finest ways to make your investments smarter and harder for you.

What are the documents required for Loan against Shares?

The documents required to avail this loan are:

Individual Borrower

PAN card
AADHAR card
Bank statement/cancelled cheque

Company Borrower

Board resolution
The list of directors
Address proof of company and director
Cancelled cheque
Bank statement
Shareholding pattern
MOA/AOA

What are the eligibility criteria for Loan against Shares?

The eligibility criteria for loan against shares are offered to:

Business Owners
Industrialists
Traders

What is the interest rate to avail Loan against Shares?

With the help of income eligibility calculator, you cannot just calculate your EMI but also interest rate. Usually, the interest rate for loan against shares is 11.25%.

What are the benefits you can avail from IndiakaLoan.com?

IndiakaLoan.com provides the hassle-free way to acquire funds without liquidating your assets; following are the benefits you can get from the financial provider:

1. Relationship Manager

It provides you with a 24*7 dedicated relationship manager to help you with all the requirements.

2. Online Access

It offers you the facility to manage your account of loan from anywhere and anytime.

3. Easy Documentation

You do not have to worry about the documentation process as there is no need for financial documents for the loan against shares, thus making it stress-free.

4. Foreclosure Charges/Nil Part Payment

It offers the facility of foreclosure charges to help you make loan repayment as per your comfort.

What are the Different Types of Home Loans?

There are numerous home loan options available in the market by non-banking financial companies and national or private banks in India. To know which one will better suit your needs, it is imperative to understand each of the choices available:

1. Home-purchase Loan

A home-purchase loan is taken to procure a residential property: flat, house or bungalow. The financial institutions generally offer up to 80-85% of the market value of the house as a loan amount. The interest rate on such type of loan is either fixed, floating or hybrid.

2. Home-construction Loan

A home-construction loan is taken to cover the expenses relating to the construction of a new house on a plot owned or co-owned by them. The home-construction loans application and approval process are different in certain aspects than from the easily available housing loans. Home loan interest rate is a crucial factor for choosing the lender. This includes:

The concerned land or plot should have been purchased within a year
If the cost of the plot is not included in the loan amount then just the estimation for construction of the house is taken into thought.

3. Home-extension Loan

A home-extension loan is taken to build extra rooms or extend home by both; current and new customers. Few banks distinguish this loan based on the idea of expansion of the existing house. Majority of them consider this type of loan as part of their home-improvement loans.

4. Home-improvement Loan

A home-improvement loan is taken by individuals who own a house but lack the funds to either renovate the current home in certain ways such as internal and external plaster, water proofing, tiling and flooring, painting, etc.

5. Home loan for NRI/PIO

A home loan for NRI/PIO is taken to aid the NRIs interested in buying the residential property in India. The process of this home loan is almost similar to the regular ones, only the paperwork is a bit more exhaustive.

IndiakaLoan.com provides the opportunity to compare various home loans from private/public sector banks. Moreover, the loan parameters are helpful in receiving free quotes instantly.