Friday, April 6, 2012

Against Life Insurance Loan

Against Life Insurance LoanAdvance against Life Insurance PoliciesIf a survey is conducted on the common forms of investments made by salaried people across all the cross- sections of the society, life insurance policies will perhaps top the list. One of the important reasons for the popularity of life insurance policies is the Income Tax exemption available on the premium paid on such policies. Besides being a financial instrument to cover the life risk of policy holders, life insurance policies also play an important role as an investment made during one’s entire working life. It is, therefore, not surprising that bank customers offer life insurance policies as collateral securities, be it a proposal for retail credit or a big ticket finance. Collateralization of loans by way of assignment of life insurance policies have, of late, become more important in view of the surge in home finance, where the financial institution insists on an insurance on the life of the borrower, duly assigned in its favour, Also, in financing ventures where the role of a particular person is important for the very survival of the venture as well as the safety of the bank loan, life insurance policies have emerged as a key security instrument. The importance of loans against the security of life insurance policy has acquired a new dimension.

Wednesday, April 20, 2011

LOAN, LOANS, FINANCE, HOME LOANS

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Saturday, July 11, 2009

Thursday, July 2, 2009

Reverse Mortgage



Reverse Mortgage
Reverse Mortgage is an innovative loan instrument in the making, especially designed for the elders. Reverse mortgage is a way to borrow against one’s house to create a regular stream of retirement income while continuing to live in that house. Reverse Mortgage is still in a nascent form in India. Though, in U.S.A and other European Countries, the instrument is already quite popular, In the following sections, we explain the concept of reverse mortgage, the factors responsible for its popularity, how it works and the steps required to be initiated by the authorities to introduce the instrument in India.

To APPLY FOR REVERSE MORTGAGE
Apply http://www.moneimatters.com/

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Tuesday, June 23, 2009

Advance against fixed deposit




Advance against fixed deposits
Nature of fixed deposits at the hands of banks
When banks mobilize fixed deposits from their customers, in effect, banks borrow money from them. The relationship between the bank and the depositor is, therefore, that of a debtor and a creditor. By accepting the deposit, the bank agrees to repay the loan due to the depositor on the due date i.e. on its maturity. It is very important to note that the legal relationship between the banker and the depositor is not that of a trustee and a beneficiary.
The Indian Trusts Act defines a ‘Trust’ as an obligation annexed to the ownership of the property, and arising out of a confidence reposed by the owner i.e. ‘author of the trust’ for the benefit of somebody called the ‘beneficiary’. If the legal position of the bank is that of a trustee (as an acceptor of the deposit), the very legal validity of the practice of providing credit against fixed deposit by banks may become doubtful. This is because, no trustee can use the trust property for his own benefit, and in case of an advance against fixed deposit, banks need to exercise the right of appropriating the proceeds of the fixed deposit, in case the loan remains unpaid. A bank plays the role of a trustee when it takes the responsibility of collecting the proceeds and remitting the same to the rightful beneficiary. The role of trustee does not come to play when the bank uses the money on maturity to the depositor.
To APPLY FOR ADVANCE AGAINST FIXED DEPOSIT

Against Life Insurance Loan



Against Life Insurance Loan
Advance against Life Insurance Policies
If a survey is conducted on the common forms of investments made by salaried people across all the cross- sections of the society, life insurance policies will perhaps top the list. One of the important reasons for the popularity of life insurance policies is the Income Tax exemption available on the premium paid on such policies. Besides being a financial instrument to cover the life risk of policy holders, life insurance policies also play an important role as an investment made during one’s entire working life. It is, therefore, not surprising that bank customers offer life insurance policies as collateral securities, be it a proposal for retail credit or a big ticket finance. Collateralization of loans by way of assignment of life insurance policies have, of late, become more important in view of the surge in home finance, where the financial institution insists on an insurance on the life of the borrower, duly assigned in its favour, Also, in financing ventures where the role of a particular person is important for the very survival of the venture as well as the safety of the bank loan, life insurance policies have emerged as a key security instrument. The importance of loans against the security of life insurance policy has acquired a new dimension.
To APPLY FOR AGAINST LIFE INSURANCE LOAN

Monday, June 22, 2009

Thursday, June 18, 2009

Personal Loans




Personal Loans
Personal Loans/ Mortgage loans
Personal/ Mortgage loans are essentially consumption loans provided by banks in clean or secured form. Personal loans are clean loans generally provided to high networth individuals or to salaried persons falling in the higher income bracket. There is an intense competition amongst banks in this sector as well as and innovative marketing techniques are being used. Many banks have established call centers for this purpose. A very common mode of marketing personal loans by call centers of these banks is contacting a cardholder of the bank (credit/ debit cards) and offering him a personal loan with seemingly attractive terms. These banks shortlist those customers who have a record of no- default by searching the customer- wise payment records maintained by them in an electronic form.
Sometimes, these marketing techniques can take extreme forms. For example, a reputed bank enclosed cheques for specific amounts to their selected customer’s alongwith statement of accounts, and stated that these cheques represented personal loans provided to them. The loan would become operational as and when the customer encashes the cheque within the specified period. Still another method is alluring the customers to pay the credit card payables in suitable installments (EMIs) for which they would charge a very low flat rate of interest! Such innovative and aggressive marketing techniques may be quite annoying for a customer. In a recent judgment, the National Commission on consumer disputes has imposed a heavy fine on one of the large private sector banks and a mobile service provider on the ground of making unsolicited calls. RBI also has taken stringent steps in curbing the practice of unsolicited credit card marketing practices.
Mortgage loans are essentially personal loans against mortgage of immovable properties, usually in metro/ urban centers. The valuation of property is done by experts and the lending banks stipulate a margin. Though urban properties fetch a high valuation, the incidence of a high stamp duty required for the mortgage may adversely impact the acceptability of mortgage loans. An important point to note in this regards is that Mortgage loans are not Housing loans which come with Income Tax exemption, unless such loans are given specifically for the purpose of construction/ acquisition of housing properties.








To APPLY FOR PERSONAL LOAN
Apply http://www.moneimatters.com/