Know Your Bank – HDFC Bank (2014-2015) – Infographics

According to HDFC Bank annual report 2014 – 2015, it is going to focus on instant loan disbursement, faster credit card issue and new bank account activations. It has also introduced ‘missed call’ based services for banking considering the customer mindset. To compete with the emerging trends of mobile walets, HDFC Bank introduces its Digital Wallet for quick Payments. It also tied up with snapdeal and launched e- commerce credit card.

The infographics gives you the snapshot of the financial year 2014 – 2015 for HDFC Bank.

Startup India, Stand Up India

STARTUP INDIASTANDUP INDIA

Startup India, Stand Up India is the government initiative announced by Prime Minister Narendra Modi to boost entrepreneurship at the grassroots level in the country. The Start-up India, Stand-up India programme is designed to suit Indian conditions & focus would be on ensuring benefits to young & budding entrepreneurs from a lowest strata of society.

What are the action plans and policies?

This programme involves country’s IITs, IIMs, central universities & NITs as per the announcement made by Prime Minister Modi in his speech on 15 August 2015. Prime Minister ensurerd in his speech, “Wherever there are youth, they will be linked through the live connectivity”. The aim of programme is promoting bank financing for start-up ventures & offer incentives to boost entrepreneurship & job creation.

The full action plan and policies of ‘the Start-up India, Stand-up India’ programme will be revealed on January 16, in presence of around 1500 young entrepreneurs at Vigyan Bhavan, Delhi.

Who are the guests and attendee in the launch programme?

Unlike high profile events like ‘Make in India’ or ‘Digital India’ where big names such as Tata group chairman Cyrus Mistry, Mukesh & Anil Ambani, Bharti’s Sunil Mittal & Aditya Birla Group’s Kumar Birla occupied the front rows and the focus here is on young entrepreneurs.

The participants would get the chance to hear likes of Softbank CEO Masayoshi Son, who are plan to invest $20 billion in solar projects in India, An Uber founder Travis Kalanick & WeWork founder Adam Neumann, also intereact with them & some of the marquee names from the Indian start-ups. Around the 40 Silicon Valley entrepreneurs, venture capitalists & angel investors are invited as special guests. While Narendra Modi will unveil a strategy in an evening, secretaries from key departments would grab with questions on providing the enabling eco-system for start-ups.

Also there is possibility of a part of Google’s Launchpad Accelerator programme, where an early stage start-up will be shortlisted from panel of 5. Although, the government’s policy package is given finishing touches, sources said, an idea is free start-ups from compliance burden from the fund to provide easy access to the finance.

Benefits :

Government aims to provide youth the opportunities to grow & be industrialists & entrepreneurs and also to establish a startup network in India. The Prime Minister said his government will look at systems for enabling start ups. He also said , we will have 1.25 lakh start ups, each giving employment to 2-3 people. In addition to the systems to facilitate startups, the loan would be given to help the people in startups. Being a startup it is motivating & provide better opportunities. It will give positive wave to startups.

Why Global Market Declined?

Why global market declined and how does it affect your loan approval process for salaried customers?

Global market on Monday saw a drastic change and most of the economy of the entire world saw a deep decline. The global market declined and the main contributor for this economic slowdown is China. The carnage began with an 8.5% drop in China’s Shanghai Composite index. Following the suit, the markets in Japan, Korea and Australia followed the same.

Chinese Market Slowdown

For the past 25 years, the Chinese Economy has been a main part of the World Economy and has a significant contributor. For the past several years, Chinese Market has been impressive and has seen a growth of 7% to 8% annually. The export-oriented development strategy which put Chinese people to work, making products for international companies are one of the significant factors for the significant contribution in the world economy. But, with inherent limits, the country with high living standards, it is becoming harder to compete with other low-wage countries. Thus, the need is to diversification of the economy, and the need to produce more goods and services for domestic consumption rather than for export.

Thus, an internally driven growth is needed within the country, which is not possible owing to different reasons. Thus, for past some years, the slowdown in Chinese market can be seen, which is in fact, the primary reason for the slowdown and yesterday’s slump was an example of the really critical situation of China.

Another reason for global market decline

Another reason for the slump can be attributed to the thing of the past. Many Western countries are still suffering an economic hangover from the 2008 financial crisis. Generally, central banks fight recessions by the process of cutting interest rates. But as both in the United States and the Europe, short-term interest rates have already fallen to zero, thus making these techniques ineffective.

Effects on loan approval process for salaried customers

With the period of uncertainty coming again in the market, the fear of losing jobs and many such crises comes again. People along with the lenders are reluctant to loans. Those people who have already applied for loans, the bank have to reassess their criteria. The reassess of whether the person can have any issue regarding the repayment of loan amount is one of the effects because of the economic slowdown. People may lose their jobs and in that condition, the EMIs along with the repayment become an impossible. Thus, banks have a fear of losing their money. Many Banks tend to take time for the approval of a loan application by playing a wait and watch game and then making a decision of approval or un-approval of loan.

Thus, with the economic slowdown, the loan rejection cases may see an upward movement, while loan application seeing the drop as people feels unsafe while taking loans.

State Bank and Project Tatkal for Home Loans

State Bank and Project Tatkal for Home Loans

The largest bank – State Bank of India has its wide scale operations spread all over the country. With the largest networks of branches, the bank holds a high responsibility towards its customers in the delivery of the best services related to all spheres of the banking.

With this purpose, the state bank of India has launched a project named ‘Project Tatkal’, which is an initiative to provide the services at the doorsteps and accelerate the process of home loans for the people.

Benefits of the Project Tatkal

Under the Project Tatkal, the process of the Home loans will be facilitated within time gap of 10 days. As soon as the bank is in receipt of the application form and the complete documents, the process of the Tatkal loan is initiated and all efforts for the urgent disbursement of the loan amount is done. Thus, bringing the complete process to the maximum of 10 days under the ‘Project Tatkal’ is an ultimate reality. However, the implementation of this scheme is done at important centers and with the sizable home loan amount.

The State Bank of India launched this initiative on 3rd July, 2015 and with the scheme to be launched in a phased manner, the project will be rolled out across the bank branches.

Online customer acquisition solution by the State Bank of India

With the State Bank of India also introduced an online customer acquisition solution, which is famously known as OCAS. The process of an instant e-approval of home loan applications is also an option. It was launched on 28th May, 2015 prior to Project Tatkal.

The major cities of India will be the first to get the lovely benefits of the Project Tatkal. The State Bank of India is looking to facilitate a huge number of people. Thus, the State Bank of India has launched this project with the novel concept of providing Home loans to the people in the minimum time.

How to avail the scheme

Just go to the nearest branch of SBI. Make an inquiry about the Tatkal Scheme. In case, the scheme has been launched for the particular branch, submit the application through the Tatkal Scheme. Submit all the required information and documents. Wait for 10 days and you will surely get an approval and will get your loan process done within the stipulated time. Now, you can easily get the Home loans within 10 days!

The State Bank of India always stands at the forefront in introducing new initiatives for the benefits of the customers.  This scheme is surely going to add more prospective customers to it and will surely be a brand booster and will be a milestone in the Home Loans.

Personal Loan for IT Employees

Personal loan is not a difficult task nowadays. some time back, when bank transaction were very critical because of lack of information about approaching for loans. Many customers who are working in IT companies like TCS, Wipro, Infosys or any other companies in Hinjewadi or  Magarpatta City had to go to the bank branch for any kind of personal loan application in Hinjewadi or Magarpatta city. Earlier loan was provided only by loan agents in Pune. Now the time has changed.  Banks are reaching their customers online very quickly and they want to have direct relationship with them. Banks are introducing themselves directly with the customer it is creating a tough competition among the agents and DSAs. Customers are benefited in the process in the form of best offers on personal loan.

A personal loan for IT employee in Pune, a customer named Mr. Ajay Patil was working in a MNC company with a monthly income of Rs. 65 k. Mr. Patil was getting his salary credited to HDFC bank account. He had never taken any loan before that. When he came to apply for Personal loan at Dealsofloan team, the manager asked for some specific docs related to KYC norms and other financial documents.  Mr. Patil provided all the documents to the bank manager and went back to home as usual. After four days bank person called Mr. Patil for an update about the loan status.  “Congratulation Mr. Patil! Your loan has been approved for Rs. 3 Lacs for 36 month @ 15% reducing interest rates”.  Ajay got surprised as he never thought , he would get the loan so quick. The prompt follow up of DealsofLoan sales team  made it possible.

Mortgage Loan Interest Rates

Mortgage loan interest rates definitely have enough phenomenal impact on the customer’s overall eligibility for loans. This is happening the rate of interest component can be increased the monthly EMI and it has become applicable on any new mortgage loan. Such property loan EMI is confirmed at the time of product disbursement. While any of loans EMI do not vary and after all the entire terms of mortgage against property. Searching the low property loan rates at the time of availing the property mortgage makes the customers eligible for large amount.

The USP of mortgage loan lenders in India is that it has fix criteria for which all the bankers normally consider a customer to be eligible for property loans. Bankers check about the intention, capabilities & previous credit history of the customers.  Another the most common factors in all of them is the actual income of the first applicant. This total income always should be adequate or higher than the applicant’s average expenses, and other obligations which are apart from the applied mortgage loan installment. Normally somehow normal expenses vary from person to person. A customer who has more number of dependents would obviously be required to hold back more amount out of his regular monthly income than one who do not have any dependent person in his family.

eg.  If the applicant is getting about Rs.15000 per month, and he has two dependents in his family, then in my opinion it would be really very difficult for applicant to get any mortgage loan in normal income program. At the same time in the same scenario for an self employed customer with same situation bank can provide mortgage loan in the liquid income program where credit team directly assess the rough balance sheet where cash income can be added back in to net profit and it goes up to three times of existing net profit. It is very easy program for secured loan segment in India. Loan against Property is the second most important loan option for any banker. This is just this because of its lower chances of default in any circumstances for any time. The customer becomes loan eligible for enough amount of property loans from any of good bank or any other financial institutes in India. At times, this margin may mean ability to purchase the dream home.

Complete Range of Mortgage Loan

Our expert guidance will helps you to avail various loans like Personal Loan for salaried or self employed, Home Loans for all new or existing borrowers, Complete range of Mortgage Loan, low income based Business Loansetc. Also we can get you Educational Loan for higher education in India or abroad Educational. It started with a wider vision to cater various loan requirements. We have a very good bucket of product program and we take the complete responsibility of providing one stop solutions to all your loan requirements.

We are driven with motto “For easy and Quicker Loan Program in market from best banks”. We have something special and it is specifically designed for people not for bank to provide hassle free loan solutions and is equipped with the details of various loan options offered by different Bank’s in India. Deals of loan bring all the loan products to your door step by continuous efforts in staying connected with the banking world. We strive for excellence by continuous upgrading of our knowledge with latest banking policies and products.

We welcome all your financial queries and feel honored on effective addressing of your requirements of financial assistance. We really appreciate the values & believe that delighted customer is our valuable investment. We join our hands in realizing your dreams and goals by providing timely and absolute solutions to your loan facility availability. We have innovative team for customer care to focus on our daily growth that makes you stay comfortable even in your financial crisis having every hope that is ready to support you and enhance the door step services.

We facilitate you to reach those extended hands (banks and financial institutions) in your loan requirement. We have an experienced team having vast knowledge on banking practices and policies of particular product. Our entire team is 100% dedicated in relation building to address all your financial requirements on rapid grounds. We are enjoying our work and constantly engaged in pooling required information on various loan products available in Indian Banking System.

Property Finance Loan

Know about Property Finance Loan:

EMI debt management or consolidation is often a key reason behind loan refinancing. In the event you find yourself wrestling around the exact EMI repaying challenges every month, it may become a great plan to obtain a new mortgage on your own existing mortgage by refinancing it. Before you do some another plan make use of the new or existing lender loan to pay for off all your lesser debts. Normally this leaves you with just one private bank loan compensation every month. Just need to think about best deal and pick a normal repayment plan which you already know you are able to tackle easily. Debt consolidation is the best option for reducing your EMI burden.

For anyone in India who is eager to save rupees by decreasing the monthly EMI load of one’s present property loan, we should find a fresh new financing plan from lowest interest rates. It may perhaps assist you to save a good sizable sum of amount and it is more cost effective if the recent mortgage loan is linked while using the variable market level from banking industry. The present interest rate is rather high as compared to new interest rates as well as the banking sector trend reveals no inclination for new or old of climbing down of market rates. If you are matured and good buyer or good borrower than you should have saved lot and it would be a great deal of funds by opting out of your property finance loan and getting it refinanced on lower cost. The whole focus should be to have a lowest and fixed-interest rate bank loan with a realistic interest rate and prefer the best bank from market while selecting.

We have seen several times when we go for inquiring a refinancing from market bank corporations fall short to mention about some standards. The whole things are linked with the money and what the actual expense of refinancing matters. Now the the time when we have got lot of option available in market like SBI, HDFC, ICICI and like that from where we can get the lowest interest rates on Loan Against Property and it could be lesser than existing rates.