Credit Card

A small plastic card issued by a bank, building society, etc., allowing the holder to purchase goods or services on credit.

A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit  to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. In other words, credit cards combine payment services with extensions of credit. Complex fee structures in the credit card industry may limit customers' ability to comparison shop, helping to ensure that the industry is not price-competitive and helping to maximize industry profits. Due to concerns about this, many legislatures have regulated credit card fees

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Business Loan

A business loan is a loan specifically intended for business purposes. As with allloans, it involves the creation of a debt, which will be repaid with added interest.

A bank loan may be obtained from a bank and may be either secured or unsecured. For secured loans, banks will require collateral, which may be lost if repayments are not made. The bank will probably wish to see the business’s accounts, balance sheet and business plan, as well as studying the principals' credit histories. Many smaller businesses are now however turning towards Alternative Finance Providers, especially in the case of smaller firms.

Loans from credit unions may be referred to as bank loans as well. Business loans from credit unions received the second highest level of satisfaction from borrowers after loans from small banks

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Home Loan

Home-Loans Overview

Home loans are the best way to help finance your dream of owning your own home Apply for a home loan is a simple & hassle-free process, quick loan approvals, and attractive interest rates will make your housing loans experience a great happy one.

We offer our help with property selection, checking approvals of the properties, filing the documents, and calculating the perfect EMI and tenure for you. We are with you in every step of the way to ensure you have the best possible home buying experience.

Home Loans come to you on the solid foundation of trust and transparency built in the tradition.It includes options for purchase of ready built property, purchase of under construction property, purchase of pre-owned homes, construction of a house, extension of house and repair/renovation.

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Personal Loan

Personal Loans Overview

A Personal Loan is a type of Loan, which is provided by a Bank or a Non-Banking Financial Company (NBFC), to a person, without receiving any security from the Borrower. The Lender evaluates the Borrower on multiple criteria, such as: Income, Credit History, Employment History, i.e., factors relevant to the financial transaction. This kind of a loan is sometimes called as a Signature Loan. The Borrower is either a Salaried or a Self-Employed Individual. The Loan Applicant needs to submit documentation to a Loan Sanctioning Officer, and the Officer makes a decision about the grant of the Loan, based on the evaluation of the submitted documentation and the Credit History of the Applicant.

A Personal Loan is a kind of an Unsecured Loan i.e., the Borrower does not provide any Collateral to the Lender, for the Loan amount. Hence the Lender is contrained in the event of a Default (when the Borrower does not repay the Loan amount) in that the Lender cannot auction any Collateral for collecting the Loan amount back. Hence the Risk associated with the Personal Loan, for the Lender, is considered to be higher, as compared to a Secured Loan such as a Home Loan, a Car Loan, a Gold Loan etc.

The reason why a Borrower is still expected to be responsible for the repayment of a Personal Loan, is that Default results in unhealthy Credit History for the Borrower and so the next time the Borrower seeks any other Loan from any Lender, or even a Credit Card from an Issuing Institution, the Borrower is evaluated on the basis of the Credit History, which would indicate the Default, and hence the chances of being issued a Loan or a Credit Card, get reduced, and even if issued, would be at higher Interest Rates, thereby making the transaction costlier for the Borrower.

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