FAQS | Dialabank

Every bank contains its own set of documents that a person need to present at the point of application. The vital documents the banks demand for at pre-approval period are as follows – One passport size photograph. Proof of age. Xero... read more


Under the income tax act, 1961. A person gets the benefit by the principal and components of interest of the loan. Moreover, the benefits might vary every year. Check out the current, available benefits often.      ... read more


Taking into consideration, the complete requirement of funds along with the construction progress, maintained by the bank, the loan can easily be disbursed in whole or in reasonable installments, not exceeding more than 3 months.       ... read more


EMI (equated monthly installments) infers to the fixed amount of money that a person has to pay to the bank every coming month. EMI consists of both interest and principal reimbursement. The amount of the EMI entirely depends upon the quantum of loan, rate of interest app... read more


Every bank charge fees at the time of application (processing fee) and at the time the loan get sanctioned (administrative fee) respectively. The amount of loan received by a person might be less than the processing fee, on the contrary, for the administrative fee, only 1... read more


The maximum time to pay the loan depends on the bank, providing if a person is a resident of India. He could expect a loan for 5-20 years, and nonresident India, a person can only expect a maximum duration of 7 years for loan.      ... read more


Floating rate of interest, to (variable rate or adjusted rate), is primarily a debt instrument likely to be as loan, bond, mortgage or a credit, that does not have fixed rate of interest. HDFC Home loan floating interest is 10.5%.       ... read more


      Banks/NBFC's provide loan and asks for the security from the person willing for the loan. Minimum of paperwork and a person receive the money immediately. The security asked for is the gold that the individual applied for, owns. This ... read more


If a person ensures the bank to repay the loan amount then only the loan get sanctioned to the bearer, or else the person will totally lose the gold. Gold loan is essentially the receiving’s against the security (gold).    ... read more


The duration of gold loan is 3 to 12 months to the exact. Gold loan especially used for funding short term financial needs. A person can easily restore this loan at maturity.  ... read more


In many situations, the maximum loan value does not exceed 80 % to the value of gold. Many banks work with relatively higher loan amounts, on the contrary, NBFCs deal in a small amount of loan.      ... read more


The rate of interest charged by banks falls in the range of 11.5 % to 15 %. The interest rate charged by NBFC’s is comparatively higher than banks.          ... read more


The loan can easily be foreclosed easily at any time not bearing any burden. However, in case of procrastination or improper payment of EMI’s, 2 % of penal interest, banks charge..        ... read more


A salaried individual between the age of 21 to 60 years, a self employed individual between the age of 21 to 75 years and even a housewife can avail the gold loan.    ... read more


  Capital is the life line of a business and no business can run without capital. For any business, capital is required to keep the momentum going. A business loan is the loan provided by the lender to an organization or an individual which has to be repaid with ... read more


    Secured Business Loan: It means that the entrepreneur has to keep some financial security as a guarantee against the loan amount taken. It can be land or machinery, finished products; anything can be kept as a guarantee in agreement to the lende... read more


    All kinds of enterprises are provided Business loans, be it a sole proprietorship, a partnership or a private limited company.  Although the income, requirements of the concerned differs from bank to the bank but normally net income of the ... read more


  There are differences in the documents required for various types of companies like the sole proprietorship firm, partnership firms and private limited companies. Required documents, by banks for providing a business loan for a sole proprietorship firm ... read more


    Fixed rate of interest on the loan means that the interest rate charged by the bank will not change throughout the time span of the loan taken.  One should go for a fixed rate only if, he/she feels that the rate of interest prevailing in the mar... read more


    The interest rates charged by the bank keep on changing over the tenure of the loan, depending upon the rates in the market. Accordingly the tenure increases or decreases or the Equated Monthly Installment increases or decreases based on whether... read more


    Depending on the bank/lender and loan that borrower opt for him could be risking certain assets, or even part of all of your business if borrower do not keep up with repayments on the loan. It is, therefore, beneficial to discuss your requiremen... read more


    Study in India - Students can take up to Rs 4 lakh of loan without providing any security or margin. A loan of Rs 4 lakh to Rs 20 lakh can be taken against a third-party guarantee. This loan comes with a 5 % margin (what this means is that there... read more


One should prefer to take a loan from a bank located at the place of study than one located at residence, unless it concerns studying abroad. The person will have better access  to funds if he/she take the loan from place of study. Along with that one should make sur... read more


    Loans for some leading institutions are available at rates starting from 10.5% (p.a.) Most banks are competing with other banks, aggressively market student loans. The student loan segment has vast untapped potential. Banks and NBFCs are offering som... read more


  Interest Repayment – The Interest repayment typically starts right after the disbursement of the first installment of the loan   Principal Repayment -  The principal repayment typically starts (whichever is earlier)   Af... read more


Most Banks accept the following as collateral : House Land (Non Agriculatural) Apartment / Flat Life Insurance Policy with adequate surrender value Fixed Deposit with the same institution         ... read more


  Personal Photo Identification of the Student Personal Photo Identification of the Co-Applicant Residence Proof (Applicant & Co-Applicant) Academic documents of the Student (Marksheets / Certificates) Proof Of Admission Inco... read more


Following are the steps involved : Choose the Auto Fill up the application form Submission of documents Field Investigation by the financer Approval of Loan by financer      ... read more


    While the norms vary for each Bank / Financial Institution, the standard eligibility features for most products are : Salaried individuals in the age group of 21 to 60 years (at the end of the tenure) Self-employed individuals in the ag... read more


  Photo Identity   Address Proof Income Documents Latest Bank Account Statement Photographs Apply online for Auto loan      ... read more


One can get up to 80% of the Auto value on the discretion of financial institution.      ... read more


Pre - owned vehicles can be financed for 12 to 90 months      ... read more


  All financial institutions charge a processing fee which vary from institution to institution.        ... read more


  Your spouse or any family member staying in the same residence can be a joint applicant. The applicant can have joint applicant if income of the applicant is not enough to justify the loan amount. It will be needed, if income is less & it needs to show more... read more


Most banks permit foreclosure however only after completion of first 6 months. Foreclosure fee varies from 3-6% of outstanding principal.          ... read more


Hypothecation which is on the vehicle Noting of the hypothecation charges in the RTO books         ... read more


Life Insurance is a legal contract between the Life Insurance Company and insuree and which provides your beneficiary with a pre-determined amount in case of your demise during the period of the contract. Getting a life insurance policy is extremely useful for a perso... read more


    If there is a requirement of long term needs like retirement income, long protection for premature death or cash to settle down estate-then one should opt plans with investment options. Term insurance can be considered in case of protection needed fo... read more


The amount of Life Insurance coverage that one should take varies from individual to individual. The basic objective of getting coverage is to ensure that the beneficiaries are able to sustain their standard of living, in case of loss of the earning member of the family. ... read more


  A person has the option to increase his/her life insurance coverage by either adding a rider to his/her existing policy or by adding a new policy.      ... read more


Different Life Insurance products can help provide the following benefits : Tax Savings Risk Coverage (Term Plan) Long Term Investments (Pension Plan / Child Plan)    ... read more


Personal loan is an unsecured form of loan with fixed EMI and payment schedule. This loan can be used by the borrower anyhow he/she wants, and there is no need of securities like house, commercial property and other financial securities. Apply For Personal Loan ... read more


A person can use a personal loan for any purpose. There are no restrictions on its end usage. One can use the loan money to finance anything like daughter's marriage, holiday abroad and personal expenditure. The bank is not at all concerned with the end usage of the l... read more


There are multiple benefits of availing a Personal Loan:  Loan up to 15 lakh: Most lenders/Banks give Loans ranging from Rs.50,000 to Rs.15,00,000 depending on a person’s repayment capacity and income No requirement of security/guarantor Qui... read more


One can apply for a personal loan in any bank but should begin with comparing the interest rates that different bank are offering. One should also check his/her bank where he/she has salary account to avail for discounts and negotiate with the interest rate. Also, find ou... read more


In India, most of the Foreign, Nationalised and Cooperative Banks offer personal loans. Besides banks, some other non banking finance companies and financial institutions also offer such loans. Apply For Personal Loan    ... read more


The eligibility for a personal loan differs from bank to bank. The main factor is your ability to repay the amount of loan. A person’s profile in terms of place of working and the residence is also taken into account. One should make sure to check all such eligibili... read more


The period varies widely; some lenders usually permit repayment up to a maximum of 60 months. However, most lenders restrict the tenure to a maximum period of 36 months.   Apply For Personal Loan    ... read more


A person can apply for a personal loan ranging from Rs 50,000 to Rs 15,00,000, depending on the person’s capability to repay the amount. It also depends on the documents one has submitted, residence, city, place of work and bank wishes that the EMI should not exceed... read more


The banks/lenders consider income level, current liabilities and credit history to determine the credit limit for the personal loan.   Apply For Personal Loan    ... read more


  Personal loans are designed targeting those people who do not wish to provide any security or want to go through the extensive legal documentation of the same. This is an unsecured loan it does not require guarantee or collateral. Some banks/lenders do demand a... read more


Bank charges a processing fee which ranges from 0.5%-3% of the total amount of the loan when someone applies. A person can negotiate with the bank for a processing fee. A person can also negotiate for the interest rate with the bank. The other charges include prepayment p... read more


  The rate of interest depends upon the amount of loan as compared to his/her income as well as the repayment period one has opted for. The main factor is a person’s ability to repay the loan amount. Along with that your profile in terms of where a person w... read more


Interest rate for personal loans is higher than rates for a secured loan example home loan, Loan against property etc. Other loans are secured, and there is a security provided by the borrower to the bank. Interest rates vary, currently ranging from 12 to 30 percent. ... read more


It depends on submission of documents to the banks time may vary from 72 hours to a week for the loan amount to get disbursed. It is always recommended keeping your documents ready in order to avoid any delays. The loan gets disbursed only after submission of all document... read more


Yes, a person can apply jointly for a personal loan with some other applicant (either be your parents or your spouse). This also increases the income eligibility and the person can apply for a bigger amount of loan, as the other applicants income gets added to the person&... read more


Relationship discounts are the discounts that a bank offers to those who are already having a relation with that bank. This can be either by having salary account in the bank or any loan taken previously from the bank. The bank/lender provides discounts in the form of red... read more


One can repay the Personal loan in Equated Monthly Installments (EMI's) through post dated cheques (PDC) or by signing an Electronic clearing system with the account that one hold. Presentation of these cheques is on the first of each month so, please do confirm with ... read more


  EMI is the abbreviation for Equated Monthly Installment. This installment comprises of both interest components and principal. Please use the Equated Monthly Installments Calculator to find out the EMI needed to repay.   Apply For Personal Loa... read more


Yes, one can prepay the entire loan outstanding after paying six installments of applying the same. The Bank charges a prepayment penalty which varies from 2 percent to 5 percent paid at the time of preclosure (returning the money before the stipulated tenure of the loan)... read more


  It is not compulsory to open an account in the bank if someone is applying for a personal loan, but one can avail for a lower rate of interest if someone is already having an account in the bank. Apply For Personal Loan ... read more


  The calculation of interest rates on home loan is on Monthly Reduction or Yearly Reduction balance. In Monthly Reduction Balance, the principle on which one pays interest keep on reducing every month as one pays the EMI. Whereas in Yearly Reduction  B... read more


  The home loan interest rate varies from bank to bank and normally ranges from 9.5% to 10.50%          Leading Home Loan providers in India SBI Home Loan | HDFC Ltd Home Loan | AXIS Bank Home Loan | DHFL H... read more


Yes, a person can easily avail for home loan for construction purpose in one city while working in another. Verified documents must be provided to the banks.  ... read more


Collateral is just the guarantee from more than two persons. The surrender value of which must be equal to the amount of loan, shares deposit, and other securities. Such&nb... read more


The maximum amount, a person can borrow loan depend upon certain factors -,  Purpose of loan. Whether, it is for the purchase of another property or renovation. ... read more


It takes around two weeks for the processing of an application, only if all the essential documents, provided and one more week for the bank to examine the property papers and then, finally get the disbursement.         Apply For Home Loan... read more


The following range of home loan available -, Home - Purchase Loan - For the purchase of a new house. Home Improvement Loan- The renovation of the house, already purchased. Home- Con... read more


Home loan eligibility can be determined by the repayment capacity, considering the key factors like – Income. Qualification.  Current age. Spouse income (if any).  Number of... read more


Making a home loan application requires an application form to be submitted carrying with necessary documents with the bank. Afterwards, the bank will thoroughly revie... read more


Home loan can be applied at any time. A person who have decided to acquire/construct a property and even the property has neither been decided nor selected, and constr... read more


    Fixed rate of interest is the rate which remains constant for the whole tenure of the loan. This means there will be no effect on the borrower’s interest rate despite fluctuations in the prevailing interest rate of the bank.  &nbs... read more