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Tips for Loans - How to Get a Loan from Bank ?
by
Rajesh Goyal
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Ads by Google
We have started this series of Loan Tips from January 2015. Slowly we will be covering all types of loans. One of the major functions of banks is to provide loans. We always see huge advertisements in newspapers, internet, billboards etc. wherein an individual / businessman is lured to take a loan. These advertisements, sometimes are so attractive that one feels as if banks are ready to give you a loan if you merely walk into a branch. However, this is far from truth. In reality, the moment you disclose that you have come to bank for a loan, the person sitting on the other side of the counter starts with doubting your integrity. During the next few moments, the Officer / Manager tries to assess whether you are a person worth enough to take the talk further. Once, he is satisfied that you are serious about taking a loan and have income enough to pay back, he will hand over few forms which will ask number of questions and you will be required to submit number of annexure etc. Thus, for an ordinary person, specially who are taking the loan for first or second time only, it is a scary exercise and many of you will be avoiding to directly talk to Manager of the branch and may even prefer to approach through a broker etc. However, if you are educated and understands the basics of loan process, you will feel more comfortable and do not need any broker who assures approval of loan subject to he being paid a handsome commission / bribe. Therefore, we are giving below the links for certain articles which will explain certain basic concepts of loans as well as give you some tips so that you are equipped enough the handle the queries raised by bank and do not get perturbed by the use of banking terminologies. Ads by Google
The following are the broad links giving tips for taking a loan from a bank, some of these have been contributed by other experts under our exchange programme, which are upgraded as per needs of our readers. We have tried to categories these under different heads so that you may first read only those tips which relate to the type of loan you intend to raise. (1) Basic Concepts of Loans for A Layman :- (2) Tips for Housing Loan (3) Tips for Personal Loan (4) Tips for Car Loan / Auto Loan (5) Tips for Consumer Goods Loan We hope the above tips will go a long way in understanding the best of practices adopted by banks and will help in preparing the ground work in the form of necessary documents etc.
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