- 1 how to get loan from bank
- 1.1 How to Get a Business Loan From Banks
- 1.2 How to Apply Online to get Home Loan from HDFC Bank
- 1.3 How to Get Loan from Dutch Bangla Bank
- 1.4 Get a Credit Union loan in order to get a bank loan
- 1.5 Things to know about getting Student Loan from a bank
- 1.6 Personal Loan | How to get personal loan from bank
- 1.7 Information That Will Help Anyone Have A Great Vacation
how to get loan from bank
How to Get a Business Loan From Banks
Debt financing comes from a variety of sources.
Ryan McVay/Photodisc/Getty Images
When an individual is seeking to start a business, or an existing business is looking to expand, a business loan is often the first option to attain the needed funds. Although some larger banks cater more toward larger business ventures, smaller banks welcome small businesses and their loan requests. According to the Small Business Administration, loans to small businesses have increased by 25 percent since March 2009. Getting a bank to approve a business loan takes preparation and some research on the business owner's part, but it can be accomplished.
1. Calculate how big a loan you need. Make a list of equipment, supplies, marketing and advertising needs, salary requirements and insurance expenses. If you plan to purchase a building or vehicles, include these as well. The sum of the costs on this list, minus any starting capital you may have already, will determine the loan amount you need to request.
2. Choose the items for use as collateral. Most banks will require a borrower to put up collateral such as equipment, investments or a building as a guarantee for a loan. The larger the loan, the more collateral needed. Also, the more willing the borrower is to put up items for collateral, the more serious a lender will take the loan request.
3. Write a business plan. A business plan is a requirement for banks to consider financing requests. The business plan should include an overview of the business, at least two years' worth of projected financial statements, a repayment plan for the borrowed funds, the resumes for all owners and a breakdown of competitors and how your business will set itself apart from them.
4. Research banks you intend to approach. Ask other business owners where they attained financing. Banks with a history of making loans to companies comparable in size to your own are the best ones to approach for financing. Also, choose a bank that has a history of granting loans in the general range for what you need. If you need sizable financing, such as high six figures or more, a larger bank might be necessary. Otherwise, a smaller neighborhood bank might be more open to your needs.
5. Put your personal affairs in order. Unless the company is an established corporation, the owner's personal finances will play a part in the lending decision. If your credit is less than perfect, do what you can to clear up any blemishes. Having blemished credit will not automatically disqualify your business from getting a loan, but it can mean a larger collateral stake or down payment requirement.
6. Approach the chosen bank with your business plan and personal financial information. A loan officer will meet with you and discuss your needs. Be confident and enthusiastic about your business idea, and be prepared to answer specific questions about your business. If possible, practice your presentation with a friend or colleague before you meet with the bank representative.
How to Apply Online to get Home Loan from HDFC Bank
Procedure to Get Home Loan from HDFC Bank by Applying Online:
Today, a large number of people mainly concerned with middle class family need Home Loans to make their dreams of their own houses fulfill. Many Govt as well as private sector banks are approving home loan every year. In between you can also get home loan from HDFC Bank on small amount of EMI. Till now the bank has provided home loan to about 4.4 million people.HDFC claims to approve the loan in a short span of time after getting availability of your documents. This facility is provided to you on the basis of your income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, stability and continuity of occupation, and savings history. You can apply for home loan by applying online.
3 Ways to get information about HDFC Bank Home loan:
1. By Calling the HDFC Home Line in your city.
2. By Visiting the HDFC Home Locator.
3. By SMS HDFCHOME to 56767.
Required Documents for getting Home loan from HDFC Bank
a) Passport Size Photograph
b) Identity and Residence Proof
c) Latest Salary-slip for salaried customers, Education Qualifications Certificate and Proof of business existence for self-employed professionals and self-employed businessman customers.
d) Form 16 for salaried customers, Last 3 years Income Tax returns (self and business) for self-employed professionals customers and Business profile for self-employed businessman customers.
e) Last 6 months bank statements for salaried customers, Last 3 years Profit /Loss and Balance Sheet for self employed professional customers and Last 3 years Income Tax returns (self and business)/Last 3 years Profit /Loss and Balance Sheet for self-employed businessman customers.
f) Processing fee cheque for salaried customers, Last 6 months bank statements & Processing fee for self employed professionals customers and Last 6 months bank statements (self & business) and Processing fee for self employed businessman customers.
How to Apply Online for Home Loan in HDFC Bank
1. Firstly you have to Click on Get Instant Home Loan Approval where you will get the application form online. Application form should be filled up carefully with the correct information as required in the form. None of the boxes should be left unfilled because it would be liable to rejection of application.
You can also apply Home Loan Online by Clicking Here.
You can also download the Application Form by Clicking Here.
2. After performing the above step, your eligibility will be required in the next step after clicking on Get Quote Now. Then it will show your Home Loan details i.e. Loan Amount , Tenure of the total amount of loan payment, Monthly Payment as EMI (Equated Monthly Instalment), Interest rate is fixed which is 10.25% (RPLR – 6.5%) Floating RPLR is now 16.75%, Total Fees including service tax according to your amount Loan. If you want to apply for this, then you have to Click on Apply Now.
3. In this step, you have to complete the application form by filling it carefully as the requirements of your details like Name, Address, Email address, Mobile No. and so on. After that you have to Click on Submit option. Your request will be verified by the bank officer to fulfill your Loan requirements.
To get this facility you have to pay fees for it of 0.5% of Loan Amount. And no charge will be charged for the Replacement of Cheques, Income Tax Certificates, Accelerated Payment Option.
How to Track HDFC Home Loan Application Status
After applying online you can track your HDFC Home Loan Application Status. HDFC has availed a webpage in which you may insert your Application Number or Reference Number and your mobile number to know the actual status of your application. After clicking on submit button you will get the status. Click the link below to know HDFC Home Loan Application Status:
How to Get Loan from Dutch Bangla Bank
The time when one is searching best bank in Bangladesh for getting loans may consider about Dutch Bangla Bank Limited (DBBL). Without a doubt the bank offers to public to capture reasonable opportunities on getting different types of loans like as home loan, student loan, consumer loan, travel loan and different types of loans. Before getting the loan, the bank adds some thoughts that one must be considered. Here are some of thoughts that the bank include before giving the loan.
• The field where one need to investment money is called procurement. The bank get the loan in order to make better the procurement.
• For the development of existing business, the loan one can get from the bank.
• Judge the field that is favorable or not.
• “What capability one has to repay” the bank thinks before approving the loan after applying.
• Only those who are interested in starting small business can approve the loan
• By depending on features of loans like as student loan, business loan, personal loan, car loan, the bank will offer to take the loan. Minimum of loan is about 1,00,000
• And maximum of the loan is 10,000,000.
• The bank will offer getting best rate. The rate is about 20% is who are clean to repay the loan.
• 17% interest rate is given by the bank those who are collateral.
• The bank is offering 0% fees for processing
• The bank is leaving restitution fee for applicants
4. Term of Loans: Another great feature of the bank is term of getting the loan. The terms may be as –
• Minimum Six month
• Maximum sixty month (Depend of field, it will be longer than it).
• One must be had nationality of Bangladeshi.
• Experience is mandatory to all. For all, at least two years experiences are need.
• Age is limited to apply for getting the loan ( Minimum 21 years and maximum 65 years )
• One also shows the income source of month. By depending on professions like as businessmen 30000, self reliant person 25000 and employee 20000, the bank demand to describe the copy of income source.
For getting the loan from Dutch Bangla Bank Limited, one must be learn those requirements before applying.
If you've never applied for a loan before it can be a daunting task. Loans are tight these days after the Financial Meltdown of 2008 and even after the famous 800 billion-bailout plan, controls on loans are still pretty stringent
However, with the help of this article, you'll find it isn't so intimidating after all.
Today you'll learn secrets of how to obtain some of the most common types of bank loans, things your bank or Loan Officer might not tell you.
When you are finished, you will have learned some valuable secrets that will make getting that loan simpler and easier to do.
Most people's first choice in getting is to get a loan from a bank. This means you're going to need to get your ducks in a row before you step into the bank's lobby.
You'll need at a minimum the following:
- A salary certificate - This could be a letter from your employer attesting to your current employment and salary. It might also entail a letter or form sent directly to the bank from your HR department on your companyвЂ™s letterhead.
- A detailed listing of all your income and expenses:
- Food costs
- Rent/Mortgage payment
- Car payment
- Outstanding Student Loan(s)
- Other loans
- Other sources of Income
Get a Credit Union loan in order to get a bank loan
In many instances, a Credit Union has less strict lending criteria. However, is always to go into and lending institution looking your best.
So, the same recommendations that you would use for a bank apply to Credit Unions as well.
The 3 things in addition you need to do to apply to a Credit Union for a loan are:
- Find a Credit Union
- Become a member
- Apply for the loan
Sounds a bit simplistic, But Credit Unions vet many of their prospective members before allowing them join.
- The tradeoff is that their loans rates often better than those offered by regular banks and savings and loan firms.
- One of things you need to be aware of about Credit Unions is that they are not FDIC insured.
- They are insured by the Nation Credit Union Share Insurance Fund (NCUSIF), which has different guidelines you may wish to become familiar with.
- Having said that, Credit Unions offer similar services to that of a bank and getting a Personal Signature Loan is often much easier than from a bank.
- They also provide:
This may be a good route to follow if you need to build up your credit first before applying for a home or other type of loan at a bank.
Get an Equity Loan 1st and build up you credit score to be approved for a regular bank loan
Most people get a home equity loan for one of following reasons.
- They have suffered a setback in their credit and need to rebuild their credit history to be approved for a normal bank loan..
- They need money to pay off high interest credit cards.
- They want to purchase a High Ticket item, which a bank may be reluctant to finance.
- They want to take a trip or a vacation.
- Build an addition on an existing house.
- Student Loan
These types of loans are easier to get and they can help build up you credit score, which later allows you to negotiate for bank loan for personal, business, or refinancing of your existing mortgage.
The certificate of salary is often key to securing these types of loans. With today's high turnover rate in the job market, Loan Officers want assurances that you have a job that will allow you to payback their money they loan you.
Things to know about getting Student Loan from a bank
A Student Loan is one of the easiest loans to get nowadays. The federal government has just changed the rules on the paying back of student loans, which changes the interest rates, which makes them more attractive and easier to pay off.
With over 60 billion a year, to loan out for students the Fed is trying to make education affordable to everyone who wants or needs it.
However, there are some things you need to be aware of.
Student loan repayment is not like that for a regular loan.
- They take precedence over everything.
- Bankruptcy may not protect you from having to payback your student loan.
- The Government can seize assets and garnish your paycheck to pay off your student loan.
The Auto loan is usually after the student loan is the easiest to get. However, it never hurts having your ducks in a row.
Have your paperwork in order along with a salary certificate as mentioned previously.
You should be aware of the following however:
- Loans on new cars are much easier to get then older makes and models cars.
- Insurance rates are better.
- New cars meet current Federal guidelines for air quality and other EPA mandates.
- Their resale value is higher in case of default.
(Check with the Bank or Credit Union for a list of vehicles)
So have your paperwork ready, keep your driving record clean, and prove you'll keep the car insured and getting that new car should be a simple task.
Finally, we tackle the hardest loan of all to get nowadays after 2008.
- Your paperwork should be spotless, net, and correct. Follow what has been outline before in this article and verify if there is additional paperwork required by you financial institution.
- Housing loans are now scrutinized much more tightly after 2008 and the subprime loan debacle with the вЂњCredit Default Swap ScandalвЂќ that almost gutted
AIG, which insured most Home loans at the time.
This can save you thousands on hidden fees and percentage points paid to your lender.
Today even is this tight market post 2008, it is possible to get a good loan for whatever reason, if you follow the suggestions in this article.
Having a salary certificate is probably one of the most important things you need now to insure your loan is approved.
Loan Officers key off this and use it to make sure they don't issue a loan that may default 5 or 10 years down the road.
Perfect paperwork is also used as a sign that you are organized and able to manage your affairs properly.
Lending institutions are in business to make money and the more that you can show you are a good risk the better your chances of getting your loan approved.
Personal Loan | How to get personal loan from bank
personal loan tips and tricks,here you will learn ho to get personal loan from bank instantly. and get the personal loan application approved
Information That Will Help Anyone Have A Great Vacation
Regardless how you intend on traveling, what you should learn here was designed specifically to be of assistance for making great travel plans and having fun. These suggestions which can help with everything else from choosing the best lodgings to packing your traveling expedition.
When driving or going for a plane using a toddler, pack things to help keep your child occupied. Try bring a selection of their favorite toys. You may even consider purchasing a couple of new toys to the travel as this will provide him enough distraction to maintain him busy.