Retail Loans

Home Loan

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Basic Eligibility

Age

Typically between 21 to 65 years (at the time of loan maturity)

Nationality

Indian citizen residing in India

Income

Stable income source (salary, business income, etc.)

Credit Score

Good credit history (CIBIL score of 750+ preferred)

2. Types of Home Loans

Home Purchase Loan:

Used to buy a ready-to-move-in property

Home Construction Loan:

Used to build a house on a plot of land you own

Home Improvement Loan:

Used to renovate or extend an existing home

Plot Loan:

Used to purchase a plot of land

Bridge Loan:

Bridge loan to gap selling and buying property.

Land Purchase Loan:

Used to buy agricultural or non-agricultural land

3. Key Factors of a Home Loan

Typically, a 20% down payment is required for a home loan in India. However, this can fluctuate based on factors like the lender, property value, and your creditworthiness. Some lenders might ask for more or less than 20%.

Interest rates on loans vary depending on the lender, your creditworthiness, and market conditions. They typically range from 8-10% per annum and can be fixed or floating.

The property you’re purchasing serves as collateral for the loan, meaning the lender can repossess the property if you default on the loan.

Home loan tenures can range from 5 to 30 years. While longer terms result in lower monthly payments, they also lead to higher total interest paid over the life of the loan. Shashwaat Consultants can provide expert guidance and customized solutions to help you secure the best home loan.

Vehical Loan

Basic Eligibility

Age

Typically between 21 to 65 years (at the time of loan maturity)

Nationality

Indian citizen residing in India

Income

Stable income source (salary, business income, etc.)

Credit Score

Good credit history (CIBIL score of 750+ preferred)

2. Types of Home Loans

New Car Loans:

New car loans are used to purchase brand-new vehicles. They are typically secured by the car itself, and interest rates are often lower than used car loans.

Commercial Vehicle Loans:

A commercial vehicle loan is used to purchase vehicles for business purposes, such as trucks, vans, or other commercial vehicles. These loans often have longer repayment terms and higher loan amounts compared to personal vehicle loans.

Two-Wheeler Loans:

A two-wheeler loan is used to purchase motorcycles, scooters, or mopeds. These loans typically have shorter repayment terms and lower loan amounts compared to car loans.

Tractor Loans:

An agricultural loan helps farmers buy equipment like tractors, offering longer terms, lower rates, and possible government subsidies.

Used Car Loans:

A pre-owned vehicle loan is used to purchase a used car. It may require a larger down payment or higher interest rate than a new car loan.

Land Purchase Loan:

Used to buy agricultural or non-agricultural land

3. Key Factors of a Home Loan

The margin rate for vehicle loans is typically 5% to 20% of the vehicle’s value, varying by lender, vehicle type, and borrower’s credit.

Interest rates on loans vary depending on the lender, your creditworthiness, and market conditions. They typically range from 7% to 12% per annum and can be fixed or floating.

The vehicle you’re purchasing usually acts as collateral for the loan. Some lenders may require additional security, such as property, depending on the borrower’s creditworthiness and loan amount.

Loans typically have a tenure of 1 to 7 years. Longer terms result in lower monthly payments but higher overall interest costs, while shorter terms mean higher monthly payments but lower total interest paid.