👉How Personal Loan Can Be Used for Down Payments:

by Sunil Srivastava | Nov 19, 2024 | SNP Finserv

1.Personal Loan for Down Payment: You can use a personal loan for a home down payment in India, but it’s subject to lender approval and conditions. 2.Lender Restrictions: Many home loan providers (banks or NBFCs) may restrict or discourage using borrowed funds...

👉Benefits Of Balance Transfer Home Loan :

by Sunil Srivastava | Nov 9, 2024 | SNP Finserv

1. Lower Interest Rates Interest Rate Reduction: The primary motivation for a balance transfer is to get a lower interest rate, which can reduce the EMI (Equated Monthly Installment) and the total interest paid over the loan tenure. Impact: Even a 0.5% to 1% reduction...

👉How Loan Against Property Helped consolidate Debt :

by Sunil Srivastava | Nov 9, 2024 | SNP Finserv

1. Lower Interest Rates Interest Rates: LAP interest rates generally range from 8% to 12% per annum, significantly lower than credit cards (18-36%) and personal loans (12-24%). Impact: By consolidating high-interest debts (like credit cards or personal loans) under a...

👉What Is The Purpose Of Taking Personal Loan:

by Sunil Srivastava | Nov 9, 2024 | SNP Finserv

1. Debt Consolidation One of the most popular uses, personal loans can help consolidate multiple high-interest debts (like credit card balances) into a single loan with a lower interest rate, making repayment more manageable. 2. Home Renovations or Repairs Personal...

👉What Is The Minimum Turnover Required For A Business To Qualify For Loan :

by Sunil Srivastava | Nov 9, 2024 | SNP Finserv

1. Bank Business Loans Turnover Requirement: Generally, banks like SBI, HDFC, and ICICI may require a minimum turnover of ₹10 lakh to ₹1 crore annually for small businesses. Larger loans may have higher turnover requirements. Loan Amounts: Loans typically range from...