Thursday 28 December 2017

Taking A Home Loan Is Very Advantageous

December 28, 2017 0 Comments
Your home is your own kingdom, where you start your tiny step and finish big, start weaving your story beginning with family and your child start taking breather in the new era. Buying a home or investing for home is quite a big step taken by you in order to fulfill those dream which you ever seen. However, such huge procedure utilizes anxiety, frustration and much more that works as the source of it. Besides it, a huge sense of accomplishment, Home Loan is just a beginning of your story with your fellows and neighbors. Nowadays, there are many firms or financial institutions which are lending money to the property seekers but one question still runs behind the bar that are they fit your actual requirement. Best way to process such financial need is to take valuable advice regarding such and then reevaluate the property on which you are going to spend such a big amount. There’s one renowned financial institution, Loan Shop India which is one destination for all your need with flexi and easy to pay EMI. It has highest rate of growth but lowest rate of interest on the amount you are given. In such a zooming property rates, it is highly tuff to have a home through our savings entirely and that is why almost all of us have to avail such financial inclusion. 

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Wednesday 22 November 2017

Know the documents required for applying a Home Loan in India

November 22, 2017 affordable home loan , apply property loan 0 Comments
Our life is dynamic by nature and the need of money is increasing day by day. Each one desires to uplift their life along with monetary freedom and see the world around him/her. The influencing digital era is expanding the system of lending of the society, and is witnessed by such. The requirement of home loan leads to fulfill the criteria followed by valid documentation. Loanshop India offers easy and Affordable Home Loan to fulfill your dream of owning a home. To be eligible you have to present the right documents in the right form and at the right time. Following documents as per your source of category of earning/income besides having healthy credit scores and previous repay strength:

Documents for Salaried Individuals
Sr. No.
Document Name
1
KYC Documents
2
Salary slip for the last 2 months / Salary Certificate (If variable components like Over Time and Incentives are reflected then salary slips for the past 6 months are required)
3
Latest Form – 16 if salary above `20000/- per month
4
Copy of all bank pass books / bank statements for the past 3 months including front page
5
Company profile if it is a lesser known organization
Note: Original documents are required for verification purpose only

Documents required for Self – Employed Businessmen
Sr. No.
Document Name
1
KYC Documents
2
Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant
3
Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant
4
Brief Business Profile on the Letter Head of the firm by the applicant
5
Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account
6
Copy of either Shop & Establishment License / VAT Registration or any other mandatory license / registration or old ITRs evidencing business
7
Copy of the Partnership Deed, Memorandum of Associations, Articles of Association  (if applicable)
8
Copy of Tax Deduction Certificate / Form – 16A (if applicable)
9
Details of Contract (if applicable)
10
Copy of Advance Tax paid / Self Assessment Tax paid challan
Note: Original documents are required for verification purpose only

Documents required for Self – Employed Professionals
Sr. No.
Document Name
1
KYC Documents
2
Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant
3
Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant
4
Brief Business Profile on the letter head of the firm by the applicant
5
Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account
6
Copy of either Shop & Establishment License / VAT Registration or any other mandatory license / registration
7
Copy of the Partnership Deed, Memorandum of Associations, Articles of Association  (if applicable)
8
Copy of Tax Deduction Certificate / Form – 16A (if applicable)
9
Details of Contract (if applicable)
10
Copy of Advance Tax paid / Self Assessment Tax paid challan
11
Copy of Educational Qualification Certificate
12
Copy of Professional Practice Certificate
13
Salary Certificate (in case of doctors having salaried income)
Note: Original documents are required for verification purpose only

Documents required for Non Resident Indians
Sr. No.
Document Name
1
KYC Documents
2
Salary Certificate from the employer mentioning the name as in passport, date of joining, passport number, designation and latest salary and perquisites, in English.
3
Salary slips for the last 3 months / Salary Certificate (If variable components like overtime & incentives are reflected, then 6 month salary pay slips are required)
4
Latest Income Tax Returns (if applicant files IT returns in India).
5
For Self Employed Individuals, documents evidencing currently in business like Trade License, Registered Power of Attorney or agreement with sponsor, etc.
6
Passport copy with valid residence visa page.
7
Work Permit/ Labor contract copy / Photocopy of Identity card or any other proof of work / employment issued by concerned Government authorities.
8
Property related documents, detailed cost estimates from an Architect/ Engineer (from India).
9
Processing fee cheque drawn on applicant’s bank in India or draft payable at the place where the application will be processed.
10
The income documents for salaried should be attested by the embassy official if documentary evidence like bank statement for credit salary or frequent remittance of fund to India is not available.
11
Copy of all overseas bank statements for the last 6 months, if any
12
Copy of NRE / NRO bank statement of the last 6 months
13
Power of Attorney (POA) if applicant is not available in India for signing of documents in DHFL’s format.
14
Copy of Continuous Discharge Certificates
Note: Original documents are required for verification purpose only

Documents needed for KYC compliance
National Housing Bank (NHB) had introduced Know Your Customer (KYC) Guidelines for
Housing Finance Companies. We request you to co-operate with us in complying with
these guidelines.
1
Photo Id Proof(any one required)
PAN Card
Passport
Voters ID Card
Driving License
2
Residence Proof (any one required)
Electricity Bill
Telephone Bill
Ration Card
Letter from Employer
Bank Statement / Pass book with address
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Location: propshp, G-200, Ground Floor, Sector-63, Noida, Noida, Uttar Pradesh 201301, India

Home Loan: The facts you need to know about

November 22, 2017 affordable home loan , apply property loan 1 Comments

A home of your Dream is the beginning of your story, the story of togetherness, the story of warm relationships, and millions memorable movements. If you dream but unable to craft reality, this is the best time to opt for a home loan. Nowadays, government of India has made several norms to ease the procedure of taking Home Loans. Many flexible norms have been filed by RBI and in this way financial institutions are offering /invoking for attractive home loans. In the same segment, Loanshop India has come into existence for your needs of easy home loans with comfort of simple & secure procedures. 

As a quite isolated body for providing Property Loans along with proper advisory, Loan Shop India directs the buyers regarding the facts about Home Loans. It says, you should keep in mind that the decision for taking a home loan is most important in one’s personal life which to be paid for a long period of time. This is why we exist to render proper examination, reexamination, and research & analysis. Such decision of taking home loan is going to be your life’s most useful tool, which fulfills the dream of owning a home. But at the same time, it can put you in struggle for repayment of loan if you don’t analyze your future expenses/income properly through proper channel. Loanshop India has brought some facts and figures (an indicative one) for helping in taking better and healthy decision over Home Loans as well as to get you introduced with many aspects of Home Loans:

Interest Rates

The rate of interest to be paid against your home loan depends of the firms which can be disclosed in your loan proposal form.

Tenure of Home Loans

This is your chosen number of EMI want to repay, which could be vary from 1 to 30 years.

Documents required for Home Loans

Know the paper works and requirement for:

For Salaried Professionals
For Self Employed Professionals
For Self Employed Non Professionals

Processing Charges of Home Loans

There should be transparency of charged taken on behalf of Home Loan Approval and Closure.

Other Factors Associated with Home Loans

There are several other conditional facts that vary from person to person and their profession too.
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Location: Noida, Uttar Pradesh, India