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www.vijaycapitals.com -The simplest way to compare and get best bank loans in Chennai,Vellore,India. Loan against property(LAP, mortgage in Chennai) in chennai Home loans in chennai, Car loans in Chennai, Business loan in chennai and Personal loans from Indian leading banks and NBFC’s.

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Give customers instant access to get a Best Loans. Smart Solution+Smart Growth.

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vijaycapitals.com is online marketplace that gives customers instant customized rate quotes on loans. Customers can instantly search for, compare and apply for loans online  at vijaycapitals.com.

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Since we Associate  with India’s leading Banks, Nbfc’s and insurance firms, you have to look in only one stop loan solution get a great deal: vijaycapitals.com.
Our goal is to make it easy for everyone to get a great deal on a loan, credit cards or an insurance product. On vijaycapitals.com, you can easily compare ,Choose and its completely free.

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* Compare offers using our easy to use tools.
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* Association with 8 Banks, 5 Nbfc’s

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Current: Personal loans, Business loans  Home loans, Home Loan Transfer, Car loans, Loan Against property (LAP, mortgage  loans) , Life Insurance. General insurance ,Demat , commodity Trading , and Savings Instruments.

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Phone          955 16 10 484,  87 54 50 52 53 , 98419 32 511, 044 2484 2488.

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Loan Against Property in chennai...!!

Top up your Existing loan..!! Loan in Chennai.

Is a top up loan right for you?

The need some extra cash to meet a need often arises, it may be to pay admission fees for the child’s education or undergo a surgery or for renovation the ..

Rahul Ghanekar, 39 year old doctor needed some money to expand his clinic. While he was talking to one of his old patients about it, the patient mentioned the option of taking a top up loan at a very attractive rate.

A top up loan is infact one of the best options for borrowing funds at a low cost. The tenure of these can go up to 15-20 years, depending on your home loan's term. "It is offered only to existing customers. The maximum tenure could be the same as the balance repayment period.However, it is based on our evaluation," says a spokesperson from a HFC. "Usually, the total of outstanding home loan amount and the top-up loan does not exceed 70% of the property's market value.Interest rates on top-up loans are quite low when compared to personal loans. Their EMIs are low because of longer terms, while the amount you would be eligible for is higher," adds a spokesperson from a leading HFC.

The money raised from a top up loan can be used for any purpose (other than speculative activities) including education, marriage or even a holiday.

The better option
A top up loan is often the best choice for borrowing. It offers the advantage of a great interest rate, paperwork that is already done and comfortable tenure. SBI has one of the lowest rates offered for top up loans at 11.25%. Most top-up loans will attract a rate between 11.25-13% currently. If compared with other types of loans you can see why a top-up loan is a clear forerunner.

Loan type	Rate of interest	Repayment tenure
Top up loan	11.25-13%	5-20 years
Gold loan	11.25- 25%	1-3 years
Personal loans	15-25%	1-5 years

The main advantages of a top-up loan are a lower rate of interest, longer tenure and virtually no paperwork.

Things to watch out for

• Even though a top-up loan can be used for any purpose, some banks like Bank of Maharashtra offer a lower rate if the loan is used for actual improvements/extension of the home. The rate is higher if it used for other purposes.
• If you choose to pre-pay the loan, there might be hefty penalty attached to it as high as 4% in some cases.
• Top-up loan may be available to the customer only after he has repaid specified EMIs of the original home loan i.e. the home loan should be repaid to some extent.
• There might be processing charges and other charges which would hike up the cost of the loan.
• Top-up loans are not suited for everyone as they are meant for people who have an existing home loan and have repaid some specified part of it.
• The amount of loan is usually limited by the EMIs repaid.

Top-up loans may be the best choice available if you want to raise some cash for personal purposes. Do explore it before looking into other expensive options.

The author is Co-Founder & Director, CreditVidya  

SOURCE : indiainfoline.com

Key terms: Personal loan in Chennai, Loan in Chennai, Personal loan.

Contact: 9551610484, 9841932511, 7871620603, 044-24842488.

E mail : vijaycapitals@gmail.com

Log in : www.vijaycapitals.com

Looking for a Loan? We can help you to find!! Loan in Chennai.

Looking for a Loan? We can help you find a

Personal loan from 1 L to 15 L,

Business loan from 1 L to 15 L,

Home Loam,

Mortgage Loan,

Car loan,

No upfront FEES.

Exciting offer for Personal Loan in Chennai..!!

Personal loan Interest Rate as Low as 13.99*

LPPO OFFER : IR-13.99% & PF-0.99%

OPEN MARKET OFFER : IR-13.99% & PF-2.00%

SPECIAL PRICING OFFER FOR EDUCATIONAL INSTITUTIONS:

IR-16.99%, PF(salary a/c)-1.50%, PF(Non salary a/c)-2.00%

EXTERNAL BALANCE TRANSFER OFFER:

2% lower then existing rate with other bank / PF-rs999

Contact: 9551610484, 9841932511, 7871620603, 044-24842488.

E mail : vijaycapitals@gmail.com

Log in : www.vijaycapitals.com

Banks lower rates on personal loans.

Nandini Sen Gupta & Aparna Ramalingam, TNN 

CHENNAI: In an effort to grow their lending book, many banks are now offering lower interest rate on personal loans. With the slump in auto sales continuing and certain real estate markets showing signs of sluggishness coupled with corporates shying away from major expansion, banks are looking at new segments for growth

Said Sumit Bali, executive vice president, Kotak Mahindra Bank: "Due to the slowdown in cor.porate lending, there's pressure to increase the book on the retail side as ticket sizes are small and delinquencies are less. Banks are targeting select few 'good' customers from its existing base for personal loans at aggressive rates." Kotak also offers such schemes for its 'good profile' customers where rates can go down to 13.5-13.25%.

The personal consumption segment is holding up despite the slowdown - a comeback after the 2008-09 when unsecured loans had completely skewed the market and many lenders burnt their fingers. "Since then the lenders have wizened up and there are many more firewalls to prevent a repeat," said Bali. "And the personal consumption segment - home loans, car loans, personal loans and credit cards - is doing well even in the slowdown. There is not too much stress of delinquency." The risk factor becomes even lower when the loan is offered to a preferred customer with whom the bank already has a relationship in the form of another loan or a long-standing account and whose credit history is impeccable. Hence the lower rates, say sources.

Sometime back, HDFC Bank too sent mailers to its elite customers with attractive offers on personal loans. Accordingly, those who have a take home monthly salary of over Rs 75,000 per month can avail a minimum loan of Rs 10 lakh at reduced interest rates ranging between 12.99% and 14% per annum on a reducing basis. The bank's personal loan portfolio grew by 26% to touch Rs 17,500 crore during 2012-13 as compared to Rs 13,891 crore during 2011-12. This has now moved up to Rs 19,314 crore as at September end of this fiscal.

Some others like Federal Bank are offering overdraft facilities to salaried account holders at an interest rate of 12.55%. "Under this scheme, the interest rate is just two per cent above our base rate (10.55%) which itself is very competitive from the industry stand point," A Surendran, general manager and head (retail), Federal Bank said. Such customers can avail overdraft limits up to six times of their monthly salary.

Last month, as part of its festive offer scheme, Indian Overseas Bank slashed its interest rate on consumer loans (mainly for purchase of durable and white goods) by 200 basis points to 13.5% from 15.5%. This interest rate offer is on till end of January next year. "The whole idea was to revive consumer spending in certain categories," M Narendra, chairman and managing director, Indian Overseas Bank said.

Some others like Karur Vysya Bank are not going in for a revision immediately. "Personal loan segment is still a high risk area. This segment also entails high cost of servicing in terms of repayment and loan recovery. Some growth in the loan book could be achieved by managing the cost of funds and yields," K Venkataraman, managing director and chief executive officer, Karur Vysya Bank said. "We are not looking to reduce rates immediately," he added.

Key Word: Personal loan in Chennai.

Developers want banks to lower interest rates.

NDORE: A slowdown in economy, coupled with high interest rates have forced people to cut down on spending hitting the once booming realty sector hard. Real estate developers in the state are facing problems as inventories pile up and there are no takers.

The situation has reached a stage where realtors want banks to lower lending rates while the bankers want realtors to lower prices. Bankers have refused to budge on the issue of lowering lending rates stating that slackness in realty sector is due to high prices and poor quality offered by developers.

An estimate says that there are about 30-40,000 houses under construction by various big developers in Indore at the moment. Managing director of an Indore-based real estate firm, Silver Lake Vista, Kunal Jhaveri, said, "The cost of construction has gone up and hence it is difficult for us to lower prices of properties offered by us. Now it is up to banks to lower their interest rates on home loan so as to woo buyers".

President of Indore chapter of Credai, Vijay Mirchandani, said, "We do believe that interest rate on home loans will come down by 50 basis points next year. It's important, keeping in view the increasing demand for home loan among people hailing from communities like economically weaker section and lower income group."

Vice president of Credai in Bhopal, Manoj Singh Meek, said, "In case the interest rate on home loan comes down, then the demand for homes will increase for sure".

DGM of IDBI Bank, K L Subedar, said, "We are cautious while financing the real estate projects directly. Rather we want to extend home loans to the end-users". Elaborating it, he said unlike real estate developers, end-users rarely turn defaulters for a simple reason that they use the loan for getting home.

As per an estimate, average take-off of home loan in Indore alone was at Rs 1,000-1,200 crore per month. IDBI bank claims to having lowest interest rate on home loans at 10.25%. Though State Bank of India offers an interest rate of 10.10% upto Rs 30 lakh, its rate of interest goes as high as 10.40% beyond that amount. However, IDBI charges a flat interest rate of 10.25% on all amounts.

CMD of Indian Overseas Bank, M Narendra, said, "The real estate developers must ensure that they not only go for quality projects, but also the fact that they keep their price at a reasonable and competitive level. Above all, they must deliver their property to the buyers in time".

The average ticket size for home loans in Indore stands at Rs 10 lakh. CMD of Punjab National Bank, KR Kamath, told TOI, "that the interest rate on home loan was directly related to the level of inflation. So, one can see the fall in interest rate only in case the inflation comes down."

Home, auto and personal loans to cost more...

MUMBAI: Retail customers of home, auto and consumer loans should brace themselves for a rough ride ahead as signals emerging from the bond market point towards an increase in interest rates. And this rise could be sharp and quick.

The indications are derived from the benchmark 10-year yield on government securities (G-secs), which touched 9.27% per annum on Monday, a five-year high and the highest in the post-Lehman era. The 10-year benchmark rate is the highest risk-free rate that one can get in the country, and hence this is the benchmark rate for banks and other lenders for setting their onward lending rates for customers.

The current level is also close to the decade high rate of 9.60%, bond dealers said. The sharp rise is mainly because of the tough liquidity situation in the market triggered by various monetary tightening measures since July 15. At close the 10-year yield was at 9.22%, up 34 basis points (100 basis points = 1 percentage point) from its Friday close at 8.88%. Since May 24, benchmark yield has risen by 2.11 percentage points, and since August 1, by 1.06 percentage points to Monday's close at 9.22% per annum.

According to industry analysts and debt fund managers, the rise in rates would hurt those home customers who have gone for the floating rate plan, new auto and other consumer loan customers, besides all the large and small corporate borrowers. However, the silver lining for customers would be that along with higher borrowing rates, fixed deposit rates would also rise and one can invest during those high rates to earn better returns for several months.

In addition to the benchmark rate, yields on all other long term G-secs are either already above the 9.5% mark or very close to that level. Moreover RBI is not infusing liquidity through hopen market operations (OMOs), which is by buying G-secs from the market, pointed out a dealer with a local bond house.

"Local as well as global factors are contributing to this rise in rates in India," a top debt fund manager said. "On the local front, RBI's recent steps to curb liquidity to stem the weakness of the rupee has not had its intended impact and that is leading bond market players to assign high uncertainty premium to G-sec rates," the fund manager said.

Since July 15, RBI has tightened liquidity in the system, assuming that would force market players to buy less dollars in the forward market and hence would stem the weakness of the Indian currency. However, since July 15, the rupee has depreciated nearly 5.5%, indicating that the measures have failed. "On the global front, the fears of tapering off of by US Fed is also weakening emerging market currencies," the fund manager said.

Axis BankBSE -0.69 % on Monday raised its base rate by 25 bps to 10.25%. Earlier Andhra BankBSE -1.00 % and Karur Vysya BankBSE 0.16 % also raised its base rate by 25 basis points The country's largest private lender ICICI BankBSE 2.12 % hiked its deposit rates by 50 to 75 basis points. Canara BankBSE -0.30 % also hiked fixed deposit rates in some maturities.

Along with the rise in bond yields, the rate of inflation is also going up. On Wednesday, the wholesale price index (WPI) for July showed a jump to 5.79%, the fastest rate seen in the last five months and also higher than the RBI's comfort level of 5.5%. According to Bloomberg data, the last time the market saw 9% yield on a 10-year paper was in late August, 2008. Since then the benchmark rate has remained below the 9% level, and in between falling as low as 5.24% in early January 2009.

Fund managers believe that the government has to instill confidence among investors and that could bring in the much-needed stability in the bond market. Once that stability comes, investors would come back to invest which would lead to soften rates. "Yields are looking very attractive at this point of time. Once people see some stability on the currency front, we may see large follow up buying in bonds, including in G-secs," said Amit Tripathi, head of fixed income, Reliance Mutual Fund.

On Monday, there was spillover impact of the hardening of the rates in the auction for government papers also. In the auction for 28-day cash management bill (CMB) for Rs 11,000 crore, the cut-off yield was fixed at Rs 12.24% per annum. Compared to Monday's auction, the cut-off yield in the auction for 34-day CMB on August 13 was 11.94%.