Engineer Loan flash sale

Engineer Loan flash sale

An Engineer loan from Bajaj Finserv can help your business grow. You can use this loan to set up or expand your business by buying new equipment or machinery, hiring new labor, or renting some additional facility.

So, if you have been thinking of taking a loan recently, now is the ideal time. Apply for an Engineer Loan from Bajaj Finserv between 26th June to 3rd July and avail an assured gift on your loan.

 Limited period offer – Hurry!

A happy customer is a loyal customer. Bajaj Finserv understands this and, thus, comes up with exciting offers from time to time. If you take an Engineer loan from Bajaj Finserv during the flash sale, you get an assured Lenovo tablet on every such loan. However, this amazing offer is valid only between 26th June and 3rd July.

Benefits of an Engineer Loan from Bajaj Finserv

An Engineer loan from Bajaj Finserv has several benefits. These include:

Preapproved offers up to Rs.15 lakh

Preapproved offers accelerate the borrowing process. If you are an existing customer, you have an additional advantage. You can get preapproved loan offers of up to Rs.15 lakh. Thus, you can easily finance your business with an engineer loan from Bajaj Finserv.

Flexible loan offers

Easy availability of capital is essential for the growth of any business. Bajaj Finserv offers flexibility to engineers while borrowing and repaying. As a customer, you get a flexible line of credit. Such a facility allows a certain limit of credit to you. However, you pay interest only on the amount that you actually use from the total credit limit. Also, you get an option of paying only the interest amount as the Equated Monthly Instalments (EMI). You can pay the principal amount at the end of the year. Such a credit facility also allows you to prepay a part of your loan.

Fewer formalities

Dealing with forms, documents, and papers is an indispensable part of any professional’s life. Bajaj Finserv offers some relief to you while borrowing. You do not need any guarantor or collateral for availing an engineer loan. You just need to submit your income, identity, and employment proofs. Your loan application is likely to get processed and approved within five minutes once these documents are submitted. Also, you may get your loan amount credited to your account within 72 hours.

Convenience at your fingertips

Bajaj Finserv allows you to carry out all the loan transactions online. You can easily apply for an engineer loan in a just a few clicks. You can also have access to all the information related to your loan. For this, you must log into their customer portal.

To sum it up

There are several engineers who need funds to advance and grow their careers. An Engineer loan from Bajaj Finserv can be of help to such hardworking professionals. You get a fair degree of repaying flexibility with such loans. The entire borrowing process is easy and quick. In addition to this, you can get several exciting offers from time to time. One such offer is valid from 26th June to 3rd July. Hurry, before it ends!

Apply for Engineer Loan Online Check Eligibility for Engineer Loan

CA loan flash sale

CA loan flash sale

A Chartered Accountant (CA) loan from Bajaj Finserv offers a plethora of benefits. To name a few, it comes with affordable interest rates, fast approvals and minimum documentation.

If you are a practicing CA, you can avail this loan to set up your own CA firm or expand the scale of operations of your existing firm. So if you have been planning to avail a loan recently, we can give you another reason to do so.

Take a CA loan between 26th June to 3rd July and get an assured Lenovo tablet. Here are the details:

Hurry! Offer valid for a limited period

Bajaj Finserv prioritises customer satisfaction. The new flash sale offer makes CA loans all the more attractive for the customers. Now, if you take a CA loan from Bajaj Finserv, you get an assured Lenovo tablet. This exciting offer has a limited validity. You will be entitled to this amazing gift only if you take a loan between 26th June and 3rd July.

Besides this, Bajaj Finserv’s CA loans offer several other benefits to the customers.

So what are the benefits of a CA loan

Loans up to Rs.30 lakh

Every business requires capital. Bajaj Finserv helps you fulfill such needs. You can find several lenders online. But, Bajaj Finserv offers you the highest loan amount. You can borrow up to Rs. 30 lakh for a tenor ranging from 12 to 60 months. What’s more is that you can get the money at attractively low-interest rates. You can fund your business in the most effective manner with such a CA loan.

Flexi loan offers

If you are a CA looking to finance your business in the most flexible manner, you can opt for a flexi loan. Such a loan allows you a certain amount of credit. You can withdraw money from this line of credit as per your needs. An advantage of this loan is that you pay interest only on the amount that you use, and not for the entire assigned amount. Also, if you have any surplus funds, you can prepay the loan. This can be a good loan option since it helps you save cost. As an existing customer, you are also entitled to certain preapproved loan offers from time to time.

Easy accessibility

The internet has become the need of the hour. It not only saves time but also offers convenience. This is crucial for any business. You can save your precious time by transacting online. You can easily apply for a CA loan on Bajaj Finserv’s website. Moreover, this can be done at any time of the day as per your convenience. To give a first-rate service to you, Bajaj Finserv has an online customer portal. You can log in here to view any loan-related details. You can also use the helpline numbers in case of any difficulty.

Easy approval and quick disbursal

You can get a CA loan from Bajaj Finserv with very few formalities. Such loans are secured. You do not need any guarantor or collateral for availing them. Also, the document requirement is kept to a minimum. You just need to submit your basic identity, income, and employment proofs. The approval and disbursal process is also quick. You can get approvals for your loan within five minutes. Also, you do not have to wait for a long time for your money. It gets credited to your account within a reasonable amount of time.

The bottom line

You can easily enhance your career with a CA loan. Such loans are flexible and easy to avail. The entire borrowing process is hassle-free. In addition to these, you get exciting offers from time to time.

Apply for CA Loan Online Check Eligibility for CA Loan

Make effective use of your fixed deposits: Get a car loan

Make effective use of your Fixed Deposits: Get a car loan

Fixed deposits have been the apple of every investor’s eye for many years now. There are a number of reasons for this—the most prominent among them being the independence from market fluctuations. Apart from that, the key benefits of investing in fixed deposits include zero volatility, complete stability and a much higher interest rate for senior citizens. FDs also inculcate a habit of saving your money rather than spending it, as opposed to the modern financial methods like credit cards. And unlike the share market, fixed deposits are completely risk-free.

Although these are all the usual benefits of fixed deposits, there are also some that are relatively lesser-known. One such remarkable benefit is the option of using your fixed deposit to take a car loan. It’s simple, uncomplicated, and very easy-to-use. Just check if you’re eligible and apply directly. You can even do it online.

Need to buy a car? Don’t worry, your Fixed Deposit has your back

If you’re in the market for a car but worried about dipping into your savings or applying for a loan to fuel your dream, check out the following benefits of utilizing your Fixed Deposit to pay for it instead!

  • The most important factor in your favour if you choose to use your Fixed Deposit for buying a car, is that borrowing against an FD is considered as an overdraft option in the world of car financing. This means that it isn’t even termed as a loan, since the money in your FD is yours after all. You’re just using it as security.
  • Another beneficial factor is that the rate of interest charged from you is significantly lower than if you acquired a car loan. Since loans against fixed deposits are secured loans, you will be charged an interest merely 2% to 2.5% higher than the one you get on your FD. If you consider the average interest rate on fixed deposits to be around 8%, your car loan against fixed deposit will only be around 10 to 10.5%.
  • Additionally, you won’t be charged any processing or miscellaneous fees if you use your fixed deposit. Therefore, you can rest assured with the fact that you’re only paying for what you bought.
  • And if you’re someone who likes to be in control of the situation (and who doesn’t?), car loans against fixed deposit are your best bet. This is because where regular car loans are involved, the one who provides you with the funds is the legal owner of your vehicle. This means that if, due to unforeseen circumstances, you have to default, your lender can claim your car as their own. Conversely, in fixed deposit financing of your car, you continue to stay the one and only person in charge of the car. All that happens is the amount due gets withdrawn from your fixed deposit account.
  • Even if you’re a cautious person who prefers to pre-pay your dues, fixed deposits are still your best friends. You can go ahead and pre-pay all the amount you want with no worries about having to cough up any pre-payment charges.

Find out more about high interest Fixed Deposits offered by Bajaj Finance and take the prudent decision to finance your loan while saving money. For more information, visit:

Know More FD Interest Rate

Why a home loan balance transfer can work wonders for you

Why a Home loan balance transfer can work wonders for you

A home loan balance transfer occurs when a borrower with an existing home loan transfers the loan to a different lender. You can choose to transfer your home loan because of numerous reasons. Normally, this is done by borrowers in case they find the high interest rates of their existing lender too high to continue with. Though there are numerous advantages of home loan balance transfer, it can be a stressful process. So maintain a high level of caution proceed carefully.  

Tips to make a home loan balance transfer work in your favour

The success of a home loan transfer depends on numerous factors. If these factors are carefully dealt with you can benefit from home loan refinancing.

  1. Do your research: Conduct an extensive on the various lenders out there and the interest rates that they offer. You are sure to find many deals and incentives, so be sure to choose the lender who offers the lowest interest rate. Apart from low interest, choose lenders who who offer favourable terms and grant incentives on loan transfers.
  2. Ensure you have money to pay for interim security: When performing a transfer it is natural for a lender to want security to protect its interests. Hence, certain lenders may ask for an interim security to be transferred to them during the transfer process from the old lender to the new lender. Though this payment is usually refundable, it is important for you to make financial provisions required for paying for this security deposit.
  3. Collect all your important documents: After choosing a lender, your next move should be proceeding with the application procedure. This will require numerous documents. Organize and collate all your important documents like the loan sanction letter, present loan agreement, address proofs, identity proofs and photographs, stamp duty and registration of your property, IT returns, etc. Remember that you will need all the documents needed to apply for a fresh loan.
  4. Get ready for the lender to verify all details: Once all the essential documents have been submitted, the new lender will perform a verification of all your details including your credit score. It is important that you prepare for this inspection and clear the verification tests of your lender to prepare with the transfer without a hitch.
  5. Make sure you get all the appropriate approvals: Once you are through with the formalities of the new application, it is important to get the approvals of both your old lender and your new lender. Submit a formal application of loan transfer with your existing lender and get a consent letter or no objection certificate regarding your transfer. Then make sure the new lender gives you the approval too.
  6. Collect and sign your loan agreement: You new lender will give you a draft of your new loan agreement, which you will need to sign. Then you will receive a formal letter that sanctions the loan. Keep the agreement and the loan sanction letter carefully with you for future reference.
  7. Make sure the property documents are transferred: Once you get the application of transfer done, your existing lender will need to transfer important property paperwork to the new lender. This is an important step, and you should make sure that your documents do not get misplaced during the process.
  8. Pay the balance and confirm the same with your existing lender: Based on when you transfer the loan, you will need to pay off any balance dues to your old lender. Before you move to the new lender, ensure that you have paid whatever is owed, and that you have a receipt to prove it.
  9. Do not agree for a longer repayment tenor with the new lender: Even at a lower interest, increasing the tenor drags out the EMIs and makes you end up paying more interest. Try to repay your new home loan quicker, and since reduced interest leads to reduced EMIs, you can actually do this without breaking a sweat.
  10. Make sure you’re aware of the cost of the transfer: Balance transfer usually include not only a processing fees and stamp duty, but also legal and technical charges, valuation and verification fees, etc. Your existing lender may also levy a penalty. Make sure there are no hidden costs and you know exactly what you are paying. Then see if doing the transfer still saves you money.
  11. Find out if the new home loan interest is based on MCLR: Due to the recent economic changes, the MCLR rate is low. Since the RBI has asked lenders to revise their home loan interest based on MCLR, new borrowers stand to gain a lot. During your balance transfer, find out if the new lender’s interest is based on this lending system—and also find out how much the interest will increase in the next year. This will ensure that you not only pay low interest, but are also prepared for the future.
  12. Enquire about a top up loan: Doing a balance transfer may also give you access to a cheap top up loan that you can use for a reason of your choosing. With low interest and long repayment tenor, this can be of great help to you. Make sure your new lender offers you a good top up loan down the line by enquiring about it when you make the transfer.

Do a Balance Transfer with a trustworthy company like Bajaj Finserv, which offers low interest rates of about 8.50% and benefits like flexible repayment and a top up loan that can come in handy when you need additional finances. For more information, click here.

Be smart and go over this checklist before signing up for a home loan

Be Smart and go over this checklist before signing up for a home loan

Today, every lender is competitively adjusting home loan interest rates. Hence, if you are a borrower, there has never been a better time to seek a home loan. And just in case you already have a home loan, but your lender is charging uncharacteristically high interest rates, it would be prudent consider a home loan balance transfer and shift to a lender offering lower rates.

Checklist for securing an appropriate home loan

Here are a few things you should consider when opting for a home loan:

  1. Evaluate whether a home loan suits your purpose: Do you require the loan specifically for your new home or is there any other reason behind it? Applying for a home loan is only sensible if you require it for residential purposes. If you are considering it to make an investment, the demonetization and reduction in home loan interest rates will not benefit you since experts say there may be a correction in the real estate market soon.
  2. See if your interest rates are based on MCLR: MCLR is the marginal cost of funds based lending rates. Lenders that use this have lower home loan interest rates. Such systems also offer the borrower a notification of when the interest rates are reset. However, it is imperative to keep in mind even borrowers under the MCLR-system will see a low rate only for a certain time since a majority of home loans have an interest reset date of six months to 1 year. This means that only those who availed loans between April 1, 2016, and June 1, 2016, will benefit from the recent rate reduction.
  3. Analyse your income and affordability: Since your interest rates payments are made directly from your monthly income, before you apply for a home loan, it is important to analyse how much interest you can afford and plan accordingly.
  4. Carefully organize and submit all documents: The eligibility documents for a home loan include an address proof, identity proof, employment proof, salary slips and bank statements. Keep this ready for a quick and fast application process.
  5. Retain knowledge of tax benefits: The government provides tax deduction to new home loan borrowers under section 24, 80C and 80EE. These sections provide a deduction of up to Rs.2 lakh under section 24 for interest paid on self-occupied property, Rs.15 lakh under section 80C for home loan principal repayments and up to Rs.50,000 on home loan interest under Section 80EE for first time borrowers under certain conditions.

 

Checklist for choosing a home loan balance transfer

If you’ve already secured a home loan but are unhappy with your current lender or your home loan provisions, consider switching to a different company. The checklist is largely similar to when you apply for a home loan, with the following additions:

Is it essential for you to change institutions? Make a thorough list of the problems you are facing with the lender and ask yourself: Is a home loan balance transfer is the only way to sort out these problems? The various problems you might face could include high interest rates, bad customer service, prepayment charges, etc. If you are facing such problems with your lender, see if there is another mode of tackling these problems. For example if your lender is charging high interest rates, try to initiate a dialogue and see if your lender arrives at a mutually beneficial solution.

Consider the tenor: Avoid indulging in any sort of changeover or home loan balance transfer if you are reaching the end of the tenor. A transfer is as good as applying for a new loan and has a tedious application procedure. All this hassle is not worth it if you have already made numerous successful EMI payments towards your current loan and have only a little bit of the tenor remaining.

Retain all the relevant documents: In addition to the documents required when applying for a home loan, get approvals from both previous and new lenders by submitting no objection certificates and letters of consent.

Bajaj Finserv can help you get the most suitable home loan, or even help you out with the ideal home loan balance transfer with rates as low as 8.50%! You can start immediately by applying for a home loan by clicking here.

When and why you should transfer your home loan

When and why you should transfer your home loan

Demonetisation is playing a key role in the steady decline of home loan rates in the current economy. Additionally, shifting your home loan from base rate to MCLR will help you switch to lower interest too, since MCLR reflects the Reserve Bank of India’s cut in repo rates, while base rates remain unaffected by an increase or decrease in repo rates. Since the MCLR system was put in place in April 2016, most banks have decreased their home loan interest rates to reflect MCLR, and based on the reduction in home loan prices across India, other lenders like NBFC and financial companies have lowered their rates too. Thus, it is the next time for new borrowers to take a home loan and the right time for existing borrowers to benefit from a home loan balance transfer.

Here’s more information you will need if you are an existing home loan customer and want to save on your monthly EMI payments.

What is the ideal time for a home loan balance transfer?

  1. When there are no transfer costs: When opting for a home loan balance transfer, the lender will probably charge you for the transfer. If you are switching to a lower floating interest rate, your lender is likely to charge you 0.5% to 1% on your outstanding amount. This cost can be negotiated with your lender to arrive at a mutually favourable agreement. It is advisable for you to look for other options if all your negotiations are proving fruitless.
  2. When the tenor remaining is significant: The tenor for a home loan ranges from anywhere between 10 to 25 years. However, if you have already made a majority of your EMI payments and are in the last quarter of repaying your loan, avoid doing a balance transfer. This is because low interest will not save you much money, since the second half of your tenor mostly consists of repaying the principal and the first half consists of paying off your home loan interest. Thus, you will save a lot of money when you switch a t the beginning or first half or your repayment tenor.
  3. When the outstanding principal amount is high: Perform a home loan balance transfer when the outstanding principle amount is high enough. Only when you haven’t repaid most of the principal amount can you benefit from the lower rates of interest offered by a new lender. If you have a small amount of outstanding principal it is unwise and futile to apply for a home loan balance transfer.
  4. Times during which the MCLR is at its lowest: Certain economic scenarios cause a reset in the interest and the MCLR is one such factor. The MCLR is the minimum rate of interest below which lenders usually cannot lend. Now that banks are revising home loan interests based on MCLR, this is good news for most home buyers and loan borrowers, as it lowers interest costs. So make a home loan transfer when the MCLR is low to make your home loan cheaper.

Primary benefits of a home loan balance transfer

 There are numerous advantages of home loan balance transfer; some of them are listed below:

  • A home loan balance transfer lets you opt for a lender that offers lower interest rates and thus can save you some income
  • Allows you to experience the new and possibly better customer service
  • An informed home loan balance transfer can save you from paying expensive EMIs
  • It is possible that your new lender could offer you incentives like cheaper or zero cost prepayment options and other added benefits
  • A home loan transfer can also give you a good top up loan at an affordable rate as further financial assistance

Looking for the right home loan balance transfer? Consider Bajaj Finserv which offers a low interest, an affordable top up loan as well as benefits such as a 3 EMI holiday. Apply for a balance transfer right away by following this link:.

A guide to getting a more affordable home loan rate

A Guide to getting a more affordable home loan rate

The recent decline in demand for homes has resulted in significant changes in the interest rates for home loans. Since demonetization came into effect, the demand for loans hit rock bottom as the liquidity and availability of cash fell drastically. This caused financial lenders to restructure their interest rates on a large scale. Hence, any new borrower of home loans and existing home loan borrowers who are looking for home loan balance transfers for more affordable home loans are likely to have access to very competitive home loan interest rates offered by various lenders. The primary question is how to make an informed decision that actually offers you monetary benefits.

Your guide to get the perfect rate for your home loan

Getting a good interest rate is not as difficult as it seems. All you have to do is follow the steps mentioned below:

  1. Study the market: Pay attention to fluctuations in the RBI’s repo rate (the rate at which it lends to banks), the rise and fall in demand of homes, government policies regarding housing and other economic factors like demonization. This will give you a background using which you can understand when you can get a lower home loan interest and what to say when talking to your existing lender.
  2. Negotiate with your existing lender: If you are a borrower seeking a home loan balance transfer, you may have already considered this option. If you find interest rates of your lender too high and difficult to repay, it is important to initiate a dialogue and negotiate with your lender. Lenders would often try to be as helpful as possible since they do not want to lose customers. After a negotiation, it is possible that the lender would offer the most mutually beneficial alternative.
  3. Choose a lender who offers home loan interests based on MCLR: MCLR is the marginal cost of funds based lending rate and reflects RBI’s repo rates and a lender’s efficiency.It is the lowest possible rate of interest that lenders offer based on RBI guidelines. When opting for a home loan balance transfer, choose a lender whose rates are based on MCLR rather than a base rate to offer you loans with the lowest interest.
  4. Go over the basis points: Basis points make it easy to evaluate whether you are losing or gaining from interest rates. In case the interest rates in the market for home loans are incredibly low and there is a difference of 75 basis points between your interest rates and the market interest rates, you should definitely consider doing a home loan balance transfer.

When opting for a home loan balance transfer for a better rate, keep the following in mind:

  1. Conduct a thorough analysis of potential lenders, their reputations, and the interest rates they offer. Try to choose the lender with the lowest interest rate and no hidden costs.
  2. Pay attention to terms and conditions and analyse the proposal offered by your new lender in detail. See if it offers additional incentives like insurance cover. Also keep tabs on other details like processing charges or foreclosure fees.
  3. Assess the track record of the lender and pay particular attention to the home loan interest rates charged and the fluctuations or increases as time passes. Based on the track record, you can assess if the new lender is right for you.
  4. Check the terms thoroughly for hidden charges. Certain lenders appear to have favourable interest rates in the beginning; however, as you proceed various hidden charges crop up, making matters more expensive for you. That’s why it is prudent to read the terms in detail.

Bajaj Finance offers one of the best home loan schemes in the market with affordable balance transfer that can get you benefits like low interest of 8.50%, a top up loan and a 3 EMI holiday. Use the home loan balance transfer calculator

You can use their home loan eligibility calculator online (https://goo.gl/6psL7W) and even calculate your balance transfer here. See more here.

Why a long-term FD investment is not advisable for you

Why a long-term FD investment is not advisable for you

Fixed Deposits have a long history of being the safest bet when it comes to investing your money wisely. In fact, as early as two years ago, an RBI study claimed that bank deposits account for approximately 57% of savings made by individual households.

Fixed deposits are invaluable for a lot of reasons. They preserve your capital and keep your money safe. They also ensure stability and a fixed amount of returns on your investment. Fixed deposits can be liquidated quickly and your principal can be in your hands within only a few days or maybe even hours. Thus they offer a very convenient way of investing your excess funds and savings.

If you think you’re a little down on your luck in the shares or stock markets, fixed deposits can come to your rescue, regardless of your misfortunes. They are also quite beneficial in emergencies or in case you’ve set short-term financial goals.

And that is where the problem lies. In the short term, FDs are a lucrative idea. But what about when it comes to long-term investments? How do they fare when invested for a longer tenor like 8 or 10 years? Not well at all, according to historical data.

Fixed Deposits—the long and short of it

These financial instruments might be profitable for, say, a maximum maturity of 5 years, but after that, studies show that you’re just losing your hard-earned money.

Here’s why:

What are your Fixed Deposit returns after tax deduction?

If you consider the standard interest rate of 8% to 9% for a fixed deposit between 5 to 10 years, you can figure out for yourself how a fixed deposit chews through your savings rather than enhances them. You just have to consider the post-tax returns as opposed to pre-tax returns, which is a common mistake. Because even from the first year, once you pay taxes, your rate of interest drops from 9% to 7.2% if you belong to the 20% income tax slab bracket. That is why Fixed Deposit for longer durations works against you.

What are your Fixed Deposit returns after inflation?

If you’re considering an FD for longer durations, it becomes necessary to account for the role of inflation in your financial plans. The purchasing power of the Indian rupee has undergone a drastic reduction over the past couple of decades. Even if you take into account a modest rate of inflations, say 8%, and your rate of return is around 7%, you are actually losing money. As if this wasn’t enough, imagine the ramifications when your fixed deposit maturity tenor is 10 years. The negative impact on your returns will be much higher in this case.

Unless it’s for a term equal to or less than 5 years, don’t consider Fixed Deposits

Fixed deposits are a great method of capital preservation if you want to invest for say 12 to 36 months, or safeguard your money for emergency situations.

FDs offer stability, safety and good returns but keep in mind that long-terms fixed deposit investments may not be making you money.

Know More FD Interest Rate

Invest in FD @8.05% High Interest Rate

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