Easy Loan
Nowadays, Easy Loans is one of the easy and most attractive features of a banking system, in any country of the world. As the name suggests, Easy Loans are attractive as it can be procured very easily. It does not have any cumbersome process in applying and getting a loan for it is easier, faster and has a higher chance of success in getting one.
This are the main features of the Easy Loans, which makes them called as being one:
Easier: since you don’t have to visit the bank umpteen numbers of times, making appointment with the bank managers.
Faster: They use direct access with the potential customers through the Internet, phone and fax, so the time period of procuring one is visibly reduced.
Higher Chance: The Banks provide thorough information about how the banks offer and what are the modes for repayment, which makes the whole process very transparent. In India the banks such as ICIICI, HDFC, and Citibank provide Easy Loans. In fact, the procedure to get HDFC Easy Loans is through a simple processing, of minimal documentation and easy repayment. The amount of loan available is up to Rs. 3 lakhs.
Purpose: The purpose for taking Easy Loans can be as diverse as for wedding expenses to fund education. It can be for any thing is it for vehicle purchase, house renovation, electrical equipment purchase etc. Some of the companies from abroad that provide Easy Loans are from Australian such as easy Loans Australia as well as UK such as Easy UKLoans.co.uk, which can be done through the Internet itself. In India the banks such as ICIICI, HDFC, and Citibank provide Easy Loans. In fact, the procedure to get HDFC Easy Loans is through a simple processing, of minimal documentation and easy repayment. The amount of loan available is up to Rs. 3 lakhs.
Procedure: The different banks have different procedure for delivering the Easy Loans or giving their customer the Easy Loans. The procedure for getting Easy Loans have been short listed for the three banks namely, HDFC. Citibank and ICICI Bank.
The procedure for getting Easy Loans in HDFC is the requirement to show proof of repayment on anyone of the following, which are: • A Credit Card • A Car Loan • A Home Loan • Cash Credit • An Insurance policy
HDFC also gives 75% off on processing fees, which makes the option of getting an easy loan from them all the more attractive.
Citibank provides Easy Loans through the Citibank Ready Cash – where they provides loans up to Rs.10 lakhs in just 48 hours for anything from the much awaited vacation, that dream wedding or even funding for education abroad. Besides that there is CitiFinancial which grants personal loans to people over age 18 who have established credit and can secure the loan with personal property. The criteria required some established credit, like a gasoline or store credit card, is necessary, and employment or other steady income is required. Although, they also make unsecured loans to homeowners but they would need to establish credit by bringing another responsible adult co-sign for the loan. At this time, CitiFinancial's Personal Loans are not available for business purposes. Our specialty is extending credit for personal, family and household purposes.
ICICI Bank Home Loans have the following procedure: • Counsellors visit at the convenience of the customer • Gives step by step guidance through the process • Doorstep delivery and picks up the documents • Home Search Service
The ICICI Bank provides easy loan for any purpose from purchase of house from builder/resale and construction/extension of existing house etc, upto an amount of Rs 2 Lakh. There is maximum loan amount which is 85% of the property cost (inclusive of the stamp duty and registration). The maximum tenor is 20 years for salaried individuals and self employed professionals, and 15 years for self employed non professionals.
Personal Loans, which can be procured easily, are called as Easy Loans.
Criteria: Although, the procedure of seeking an Easy Loans as advertised as being very simple but the banks do have their criteria in disbursing loans.
One of the most important factors for which, the bank disburse loans to the customer is the need to have a clear credit file. • This means that the customer should demonstrate the ability to pay the loan in full without any financial hardship and therefore should not be have any defaults in payments or bankruptcies. • In India, they provide Easy Loans for the above purposes but other countries provide loans for more diverse range of personal loan products.
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