How to Get personal loan with any governments bank in all India
Website Link :www.fundstiger.com
FundsTiger is a financial technology company based in Bangalore that is part of the rapidly growing marketplace lending industry.
FundsTiger lending marketplace aims to providing loans and other ancillary products to micro, small and medium enterprises (MSMEs), improve small business access to capital and leverage technology to lower the cost of loan application processing.
FundsTiger aims to help bridge the significant gap of c.$58 billion between demand and supply of debt to MSMEs in India, and to tackle the inefficiencies in the existing lending processes, by enabling quick and transparent access to debt to credit worthy borrowers.
FundsTiger has been founded by a team with a strong background in Entrepreneurship, Corporate Finance and M&A, Debt Capital Markets, Debt and Leveraged Finance, Securitization, FinTech, Big Data, SaaS, Enterprise Applications, Distributed Systems, Security and Business Intelligence.
HOW IT WORKS:
Apply Online
Borrowers can apply for a loan online on FundsTiger.com or through one of our affliate partners.
The process takes around 20 minutes and enables borrowers to not just get access to capital, but also understand what areas they need to work on in order to enhance their credit profile.
FundsTiger ensures that Borrowers get a secure, safe and reliable application process that be tracked online.
View Results
The FundsTiger Credit Algorithm reviews the inputs of the Loan Application and provides an instant initial assessment, which is shared with the Borrower along with indicative credit rating, and pricing range.
Following the initial assessment, FundsTiger will review the application details, understand borrower requirements, structure the loan terms and share the terms with the Borrower within 2 business days.
Get Funded
Once the Borrower accepts the terms, due diligence is initiated.
Once satisfactory due diligence is complete, the Borrower will get the funds directly into their business accounts.
The entire process should typically take around 7 business days for unsecured loans.
FundsTiger Account
Registered users get access to a FundsTiger account that allows Borrowers to track the performance of their loan, make repayments and upload any information that may be required for monitoring.
The FundsTiger Borrowers can also use their account to see how their credit history is being built, work on areas that need improvement and enhance their credit profile.
Salaried Employee Loans
Salaried Employee Loans are suitable for bridging your short term cash flow gaps and for ensuring that you can manage unexpected expenses while you work in a company and draw a regular monthly salary.
1. Loans from Rs. 50,000 to Rs. 50 lakhs
2. Term from 12 months to 60 months
3. Average rates of 14-18%
4. Ideal for employees that have over 3 years employment experience and have annual income of over Rs 2 lakhs
5. Fast disbursement – get the money in your bank account within 3 business days
6. Easy EMIs, deducted directly from your bank account.
Self Employed PROFESSIONAL Loans
Self Employed PROFESSIONAL Loans are ideal for managing one-off business needs and heavy expense requirements, managing seasonal cashflows, hiring needs, buying an asset or bridging property purchases for professionals such as doctors, chartered accountants, company secretaries, architects, financial consultants, business consultants and technology consultants.
1. Loans from Rs. 50,000 to Rs. 50 lakhs
2. Term from 12 months to 60 months
3. Average rates of 14-18% (rates will depend on the purpose of the loan and the security offered)
4. Ideal for self employed professionals who are in business for more than 3 years and have annual income of over Rs 5 lakhs
5. Can be unsecured or you can borrow against specific assets to get better rates
6. Fast disbursement – get the money in your bank account within 3 business days.
Self Employed OWNER Loans
Self Employed OWNER Loans are ideal for managing working capital requirements, buying an asset, commercial property purchase, corporate acquisition and managing growth for small business owners, whose personal financial profiles are better than their business profiles.
1. Loans from Rs. 2 lakhs to Rs. 50 lakhs
2. Term from 12 months to 60 months
3. Average rates of 14-18% (rates will depend on the purpose of the loan and the security offered – Loans against Property are more cost effective)
4. Ideal for business owners whose businesses are over 3 years old and have business annual income of over Rs 1 crore.
5. Typically secured and unsecured both.
6. Quick decisions within 3 business days. Fast disbursement – get the money in your business account within 12 business days.
Personal Loans for Salaried class include people working in private or government enterprises – and does Salaried Doctors working in health institutions, CAs working in companies, employees of Public listed and Private limited companies , MNCs, SMEs and Government Sector employees including public sector undertakings.
ELIGIBILITY CRITERIA FOR SALARIED EMPLOYEE LOANS:
Minimum AGE of applicant: 21 years
Minimum employment TENURE: Total work experience required is 2+ years and current company minimum 1month
Minimum NET MONTHLY INCOME: At least INR 15,000 per month.
DOCUMENTS REQUIRED FOR SALARIED EMPLOYEE LOANS:
Your KYC Documents:
Proof of Identity: Your Passport or Voter ID or Driving License or AADHAAR Card
Proof of Address: Ration card or Driving License or Voter ID or Utility Bill ( Water or Electricity Bills within last 3 months) or Registered Rental Agreement or your Passport
PAN Card
Your INCOME Documents
Bank Statements : Latest 3 Months bank statements or 6 months bank passbook
Salary Slips: Salary payroll slips, along with latest Form 16 or ITR or your Company Offer Letter.
Types of Personal Loans
Personal loans are availed and provided for meeting personal needs. If you are availing a personal loan, banks may or may not ask you to specify why you are borrowing the money.
1. Festival Loans
2. Marriage Loans
3. Vacation Loans
4. Education Loan
5. Medical Expenses Loan
6. Home Renovation or Improvement
What are applicable Charges in Personal Loan:
Processing fees 2 % – 3%of the loan amount
Interest rate 10.99% onwards to depend upon Income and other eligibility criteria of Lender Bank/NBFC.
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