Loans (Retail Asset Products)


There are many circumstances when we need ample amount of money to meet the day to day requirements, then we instantly think of loans. There are several types of loans available in financial institutions that can match one's need. There are several categories of loans that are provided by GrowCap Financial Services collaboration with Financial Institutions, Bank and Private Funding at different interest rates.

BUSINESS LOANS

In business nothing is predictable. But one has to be ready for any kind of emergency.  To meet such requirements, business loan is available. There are two types of business loans, secured and unsecured.  In secured loans you have  to  place  some security and avail the advantage but in unsecured loans if you don't have any security to place even then you can get a loan but with little higher interest rate. Small business Loans means business loans on a small  scale. The  amount  of  investment  is small as the nature of business is small. Large scale business requires huge amount of investment as the spread of business is huge. Funds are required to start a business whether small or big. The returns in business are not stable. Sometimes there is huge profit and sometimes losses. Thus funds are required to meet the working expenses of the firm or company.

HOME LOANS

Home loans are designed to meet your unique needs as either a salaried professional or a self-employed professional or a self-employed non-professional. Different types of home loans like Bridge Loans, Home construction Loans, Home Equity Loans, Home Extension Loans, Home Improvement Loans, Land Purchase Loans etc for different schemes available in the market. There are different types of home loans tailored to meet your needs.

Home Loans - Features & Benefits

  • Home Purchase Loans: These are the basic forms of home loans used for purchasing of a new home.
  • Home Improvement Loans: These loans are given for implementing repair works, healing and renovations in a home that has already been purchased.
  • Home Construction Loans: These loans are available for the construction of a new home.
  • Home Extension Loans: These loans are given for expanding or extending an existing home. For eg: addition of an extra room etc.
  • Home Conversion Loans: These loans are available for those who have financed the present home with a home loan and wish  to  purchase  and  move  to  another
        home for which some extra funds are required. Through home conversion loan, the existing loan is transferred to the new home including the extra amount required,
        eliminating the need of pre-payment of the previous loan.
  • Land Purchase Loans: These loans are available for purchasing land for both construction and investment purposes.
  • Bridge Loans: Bridge loans are designed for people who wish to sell the existing home and purchase another one. The bridge loans  help  finance  the  new  home,
        until a buyer is found for the home.

HOME EQUITY LOANS

Since, one pledges the equity value of one's home as security against the loan amount as a result this loan is secured in nature. This type of loan is a kind of second mortgage from which individual can derive a fixed amount of money and that has to be paid within a specified amount of time. It has another advantage, as per the income tax law the interest paid is tax deductible.

MORTGAGE LOANS

Security for the loan that the lender makes to the borrower is known as the Mortgage. Home Mortgage loan is the loan secured by real property which is offered by the borrower to the lender against loan taken. Home mortgage loan is easily available in the market. There are many companies offering home mortgage loan, hence you should make sure as to which company provides the best customer service. The dealing with home mortgage loan company is for a long period and therefore make sure it is with the company you want to deal with. Mortgage loan may differ on various factors such as terms, payment amount, frequencies, etc but the most essential factor is interest. The interest on loan depends on various factors like the term of loan, credit score, type of mortgage i.e. fixed rate or adjustable rate and the size of the loan. Depending on it, mortgage loans may be divided in two basic types - fixed rate mortgages and adjustable rate mortgages also referred as floating or variable rate mortgages.

# Fixed rate mortgage – The interest rate remains the same for the entire loan period. There is no fluctuation in the rate with the market.
# Variable rate mortgage – The interest rate fluctuates with fluctuation in the market rate.
# It is also possible to opt for combination of fixed and variable rate of interest. For some years the rate of interest is fixed and later on it fluctuates with the market rate.
Some people make small payments in the early period of repayment and then pay the lumpsum amount at the end. This is suitable for those who a expecting a lumpsum amount in near future. This is known as balloon payment of Mortgage loan.

PERSONAL LOANS

Personal loans are tricky – you never can quite make out whether it is absolutely necessary or if it is just a luxury you will be paying back for the next few years. That new computer, or that credit card outstanding, or the house refurnishing…the need for personal loans is never ending. The bank takes the bigger set of risk by giving loan without any security, in business terms it means that bank will charge higher rate of interest as compared to other loans which are supported by a security. This leaves ‘Personal Loans’ with the high rate of interest in the Indian market.

Personal loans are available for a range of different amounts and repayment terms. Depending on the amount and purpose of the loan, you will be able to choose from a range of repayment periods. From 12 months to 60 months The minimum loan amount is typically 50 k although some lenders do offer 100 k and upwards. The maximum amount you can borrow is 30 lacs although this will vary between lenders and products.

DEBT CONSOLIDATION LOANS

The principle of debt consolidation loan is based on the repayment of many smaller loans that one may have accumulated over the years. This loan has been designed for people to clear out their old debts. So, one gets an option of mixing all old debts into one and paying the interest rates of only one loan. These loans are available both in secure and unsecured form. Secured loan requires to submit collateral to the lender. But unsecured loan requires no such collaterals to submit.

AUTO LOANS

Personal car loans are loans which you obtain in your own name for the purpose of purchasing a car. They cannot be used for other expenses, or for other purchases. They must be spent on a car, which the lender then uses as collateral to secure the loan. They are repaid to the lender monthly, or at some other period agreed upon by both parties. Personal car loans are the responsibility of the individual who signed for the loan, and not their company or business.

EQUIPMENT/MACHINERY LOANS

Equipment loan is an innovative retail loan product, initiated by quite a few banks to cater to the diverse needs of its customers. This loan category is comprehensive and can include construction farm equipment loans, medical equipment loans, office equipment loans etc. These loans are available at low interest rates and convenient EMIs. The amount of EMI will depend on a number of factors such as loan amount, tenure of loan, financial standing of the person taking the loan.

Types Of Equipment Loans Available:
#Construction Equipment Loans
#Medical Equipment Loans
#Office Equipment Loans

EDUCATION LOANS

By these loans one can easily borrow money to meet the study expenses. They can be repaid once you have completed your studies and after finding a suitable job. The interest rates are kept affordable for the benefit of the students.

PROJECT FINANCE

Project financing is an innovative and timely financing technique that has been used on many high-profile corporate projects. Project Financing discipline includes understanding the rationale for project financing, how to prepare the financial plan, assess the risks, design the financing mix, and raise the funds.

We have a vast experience of arranging Finances for our Client on best Terms and Conditions since we have deep knowledge and strong face value in various Banks so you be rest assured for the best deal. Please note that we deals with anything above 2 Cr only to upto any amount on professional terms.

Documentation:
1. Loan Agreement.
2. Deed of hypothecation.
3. Personal guarantee from main promoters, wherever required.
4. Undertaking from the promoters for
o Meeting overrun/shortfall in the project cost/means of financing
o Non-disposal of shareholdings by the promoters
5. Undertaking from MD for non-receipt of commission, if company is in default to NEDFi.
6. Resolution under Section 293 (1) (a) and 293(1)(d) of the Companies Act.

PRIVATE LOANS / PRIVATE MONEY LENDERS

There are many people who take different types of loan like home loan, car loan, personal loan, etc. They don’t think about the repayment at that time. Keeping the track of all the due dates, its monthly repayment, etc might make you crazy. To cope up with this tension, one can go for loan consolidation. Loan consolidation offers a single loan for multiple loans at a much lower interest rate. This reduces the tension as only one installment is to be paid and also saves on your money.

There are two types of Private Loans Secured Private Loans and Unsecured Private Loans. Secured private loan like any other secured loan requires collateral as security. The collateral can be in the form of property, equipment, machinery, etc. In case of default, the collateral is sold to recover the amount. The interest rate is cheap as there is collateral in case of default. An individual should borrow the amount which he would be able to repay without any problem as collateral is attached with the loan amount.Unsecured private loan does not require any security. This is suitable for people who don’t want to attach their personal assets to any obligation. The interest rate is high as there is no collateral in case of default.