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.
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/
Apply http://www.moneimatters.com/
No comments:
Post a Comment