Personal Loan

A personal loan is a kind of Unsecured Loan and helps you meet your current financial requirements. Unsecured Personal Loan is not required to provide any security to the bank in the form of shares or property documents. Personal Loan is provided on the basis of the employer company and credit worthiness of employees. Loan Amount is based on company category and net take-home salary.

Personal Loans are flexible with Minimal Documentation , has Fast Approval mechanism and are open for all those who have a secured/regular income, Credit History, CIBIL Score irrespective of the purpose of the application. Unsecured personal loans can be used for a wide variety of purposes , like Children’s Education, Medical Emergencies, Wedding Expenses, Home Renovation, Starting a Business or any other Financial Liabilities.

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General Information

There are various factors to consider while taking a Personal Loan in order to assure the borrower gets the best possible deal. Factors such as:

Loan Amount: 1 Lac to 40 Lacs | Rate of Interest (APR)*: 10.75% to 22.50% | Repayment Tenure: 12 Months to 60 Months | Processing Fees: 0.75% to 2.50% + GST as applicable | Prepayment/ Foreclosure: Nil (After 12 months) or 1% – 4% (Before 12 months) Illustration: 1 Lac loan on @10.75% with processing Fees for 60 Months comes to Rs. 1,29,708/- Equated Monthly Instalment shall be: Rs. 2,162/- only.

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Business Loan

A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, mezzanine financing, asset-based financing, invoice financing, microloans, business cash advances and cash flow loans.

Starting or expanding a business often means applying for and getting approved for a loan or a business line of credit. For years Delhi has been known for its culture of entrepreneurship and business. With the expansion of the city and the rise of new commercial hubs in the NCR region like Gurgaon and Noida, the appetite for business has expanded manifold.

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General Information

There are various factors to consider while taking a Business Loan in order to assure the borrower gets the best possible deal. Rate of Interest varies from 12.75% to 18% subject to certain conditions.

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Home Loan

A sum of money borrowed from a financial institution or bank and NBFCs to purchase a house. Home loans consist of an adjustable or fixed interest rate and payment terms.

Home Loan is a Secured loan offered against the security of a house/property which is funded by the bank’s and NBFCs the property could be a personal property or a commercial one. The Home Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property.

The Magic thing about home is that it feels good to leave, and it feels even better to come back Wendy.

A house is made of Brick & Beams, but home is made of Love and Dreams Unknown

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General Information

There are various factors to consider while taking a Home Loan in order to assure the borrower gets the best possible deal. Rate of Interest varies from 6.65% to 7.75% subject to certain conditions.

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Loan against Property

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his residential/commercial property as security. Borrowers can use the funds for various purposes such as expanding your business, Purchase of Machinery, Medical Emergencies, Wedding Expenses, Debt Consolidation, etc. Access the funds at your disposal as you wish. Make your dreams come true. Apply for Loan Against Property at an attractive rate of interest and repay it comfortably up to 15 years.

Mudraindia provides easy and hassle-free Loan Against Property for a loan amount starting from Rs. 5 Lakhs. Get smooth processing to compare the interest rate from 10 Banks, Maximum Loan Amount up to 25 Crores, Minimum Documentation, Tenure of Upto 15Years, Doorstep services. We provide customised Property Loan to salaried and self-employed people.

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General Information

There are various factors to consider while taking a Loan against Property in order to assure the borrower gets the best possible deal. Rate of Interest varies from 7.0% to 8.75% subject to certain conditions.

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Overdraft Limit

Overdraft Linked Loans in Gurgaon New Delhi NCR India from leading banks.

The word overdraft means over drawing. Unlike a normal home loan or a LAP, which are termed as term loans, an overdraft loan gives high flexibility to a customer.

Some of the banks offer an overdraft-linked loan with a home loan.

This loan gets linked with a current account opened in the name of the borrower, any money parked in the current account sets off against the outstanding principal of the loan and the interest gets charged on the balance amount.

To understand it better we will take an example:

Principal Outstanding: INR 90000

Balance in current account: INR 20000*

* The balance in current account is the monthly average balance maintained For this particular month the borrower pays interest on INR 90000-20000= 70000

This helps in saving on the cost of Interest at the same time gives high-level liquidity as well. As the money is parked in a current account the borrower can withdraw the money at any time as per need. The saving on interest is for the period the balance in account is maintained.

As the loans gets paid through payment of a fixed amount per month termed as EMI, the interest saved in an overdraft loan gets paid as principal. Higher principal paid in each EMI results is a reduction of the loan tenure.

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General Information

This effectively means that the component of Interest and Principal in each EMI changes depending on the balance maintained in the current account.

All other terms of the loan like the eligibility, fees, Interest rate etc. are similar to that of a home loan or a LAP.

You can contact us for a personal visit of our officer to understand the concept better.

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Loan Simple Process

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