INFO LOANS

Students Loan Scheme

2011-09-14T20:17:00.000-07:00

Students Loan Scheme

Applications from Students

Pursuant to the announcement made by the Federal Finance Minister in his 2001-2002 budget speech, a STUDENTS LOAN SCHEME (SLS) for Education was launched by the Government of Pakistan in collaboration with major commercial banks of Pakistan (NBP, HBL, UBL, MCB and ABL). Under the Scheme, financial assistance is provided by way of Interest Free Loans to the meritorious students who have financial constraints for pursuing their studies in Scientific, Technical and Professional education within Pakistan.

The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.

ADMINISTRATOR OF THE SCHEME National Bank of Pakistan

ELIGIBILITY

Under the scheme the students are eligible to apply for loans provided:

He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder.
He/She falls at the time of admission within the age bracket of:-

For Graduation Not exceeding 21 Years
For Post-Graduation Not exceeding 31 Years
For Ph.D Not exceeding 36 Years
He/She has secured 70% marks in the last public examination.
He/She has undertaken the study of the subjects given below.
He/She is unable to pursue studies due to financial constraints.

Loan Against Property

2011-09-14T20:15:00.000-07:00

Loan Against Property

Simply put, a loan against property is what it actually connotes -- a loan given or disbursed against the mortgage of property. This is unlike a personal loan, which is disbursed to an individual; no questions asked. The loan is given as a certain percentage of the property's market value (usually around 40 per cent-60 per cent). But the threshold amount too is generally defined by most lending institutions like say, Rs 200,000. This multi-purpose loan puts funds at your disposal to use as you wish. It unlocks the hidden value in the property you own.

Car Loan Trends for September 2011

2011-09-14T20:14:00.000-07:00

Car Loan Trends for September 2011

Car loans market has slowed down in last 4-6 months. The rate of interest have increased from 8% to 11.5% .
This has deterred the customer to buy a car. The slowdown is more in segment where car price is above 6-8 lacs.
Maruti has reduced car capacity by 10-15% seeing the slowdown of 25% in July month. Sbi,Hdfc,Icici,Kotak are major players in the industry. A lot of car manufactures are running discounts on there cars or are offering lower roi for there cars.

Important Pointers in Home Loan

2011-09-14T20:12:00.000-07:00

Important Pointers in Home Loan

• Increase your Loan eligibility

• Credit History : Your chances of getting a home loan are increased if you have a good credit history which is known by banks by checking the borrower’s Cibil score. Now it is very hard to get a loan from another bank when you already have a bad debt with one bank.

• Clubbing of income : Your eligibility to take a home loan will augment when you club your income with your spouse’s income, bank in this case will calculate your eligibility on the basis of the clubbed income of both the applicants. You can club incomes of spouse, children & parents staying with you and having regular income.

• Enhance your loan tenure : Longer is the loan tenure, lower will be the EMIs which further increases the repayment capacity of the borrower & in turn enhances the loan eligibility.

• Step-up Loan: In this type of loan EMIs remain low in the beginning & increase gradually as and when the borrower’s spending power increases. Therefore lower EMIs in the initial years enhances the borrower’s ability to pay & further increases the loan eligibility

• Increase the down payment : You must know that in a home loan bank finances only 85 to 90% for the property & the rest amount has to be funded by the borrower. You should increase the down payment if you have more than required amount which will mitigate your debt considerably.

Tax Benefits in Home Loan
The home loan borrower enjoys Tax Benefits on both Interest paid & the Principal re-paid. Under Section 24(d) of Income Tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 1, 50,000.
Under Section 80(c) of Income Tax, Principal amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of
Rs. 1, 00,000.

Types of Home Loan

2011-09-14T20:11:00.001-07:00

Types of Home Loan

There are different types of home loans available in the market to cater borrower’s different needs.

• Home Purchase Loan : This is the basic type of a home loan which has the purpose of purchasing a new house.

• Home Improvement Loan : This type of home loan is for the renovation or repair of the home which is already bought

• Home Extension Loan : This type of loan serves the purpose when the borrower wants to extend or expand an existing home, like adding an extra room etc.

• Home Conversion Loan : It is that loan wherein the borrower has already taken a home loan to finance his current home, but now wants to move to another home. The Conversion Home Loan helps the borrower to transfer the existing loan to the new home which requires extra funds, so the new loan pays the previous loan & fulfills the money required for new home.
• Bridge Loan : This type of loan helps finance the new home of the borrower when he wants to sell the existing home, this is normally a short term loan to the borrower & helps during the interim period when he wants to sell the old home & want to buy a new one, It is given till the time a buyer is found for the old home.

• Home Construction Loan : This type of loan taken when the borrower wants to construct a new home.

What is a Home loan

2011-09-14T20:10:00.001-07:00

What is a Home loan?

Home Loan is a Secured Loan offered against the security of a house/property which is funded by the bank’s loan, 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 i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property. Get more Information on home loan section click Articles about Home Loan and Home Loan must read.

A Debt consolidation Plan

2011-09-14T20:09:00.000-07:00

A Debt consolidation Plan

A Debt consolidation Plan basically looks for ways to reduce your total debt servicing out flow by combining your various loans and credit card outstanding and repaying them using the cheapest available funding option best suited for the individual. This single payment is typically lower than the sum of the payments on the individual debts. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.

What is a Credit Card?

2011-09-14T20:08:00.000-07:00

What is a Credit Card?

A Lot of people miscomprehend the usage of credit card thinking that it only augments their expenditure & nothing else, however they are not aware of the proper usage of the card. A Credit Card is plastic money which is used as a way of payment, facilitating you to purchase products/services on credit. It eases your life & your shopping experience is made simpler as you are not required to carry cash at all the places; just swipe your credit card & you are given a free credit period of 50-55 days by the bank. A lot of people think that the credit period starts from the date of purchase which is not correct; you should note that the credit period is calculated from the date of billing and not from the date of purchase. Get more information on credit card pin, credit card eligibility and Rejected reasons for credit card at Articles about Credit Card.

What is a Personal loan?

2011-09-14T20:06:00.002-07:00

What is a Personal loan?

Personal Loan is an unsecured loan for personal use which doesn’t require any security or collateral and can be availed for any purpose, be it a wedding expenditure, a holiday or purchasing consumer durables, the personal loan is very handy & caters to all your needs. The amount of loan can be ranged from Rs. 50,000 – Rs. 20 lakh & the tenure for repaying the loan varies from 1 to 5 years. More Information about personal loan section click articles about personal loan and Personal loan must read.

Benefits of Personal loan
1. A Loan without security : A Personal Loan is not a secured loan (bank doesn’t ask for any security or collateral) as against a Secured Loan where one is required to pledge a house or other security to acquire a loan.

2. Simple Documentation: A Personal Loan can be accessed with minimal paperwork or documentation & doesn’t take much time to procure as against a Secured Loan.

3. No specification about the end use of the loan amount : You are not required to disclose the end use of the money borrowed, Banks are concerned about the fact that whether the borrower is able to pay back the loan with interest before the due date or not and they confirm this by checking the income, employment or business & other factors of the borrower.

4. Big Loan amount : Personal Loan is a means to fulfill bigger loan requirement, you can take a loan ranging from Rs. 50,000 to Rs. 20 lakh.

2011-09-14T20:06:00.000-07:00

The South African Personal Loan Specialists

Loan eXpress, together with its partners, is one of the fastest growing finance groups online, operating in 3 continents. Which means our friendly and helpful consultants can negotiate exclusive loan deals for you where other companies can't compete. We and our lending partners have been helping South African families with bonds, personal loans and bad credit for years, providing you with the peace of mind to deal with people who understand.

All you must know about personal loans

2011-09-14T20:04:00.000-07:00

All you must know about personal loans

When a bank lends to an individual it is usually for a carefully defined purpose like buying a home or obtaining higher education.

By contrast a personal loan is a much more flexible loan which can be used for a variety of purposes: say paying for a wedding, re-decorating your home or an expensive holiday.

Most major banks as well as some finance companies offer personal loans and for some purposes they may be the best, or even the only way, to obtain finance.

All you must know about personal loans

2011-09-08T21:30:00.000-07:00

All you must know about personal loans

When a bank lends to an individual it is usually for a carefully defined purpose like buying a home or obtaining higher education.

By contrast a personal loan is a much more flexible loan which can be used for a variety of purposes: say paying for a wedding, re-decorating your home or an expensive holiday.

Most major banks as well as some finance companies offer personal loans and for some purposes they may be the best, or even the only way, to obtain finance.