Debt consolidation

Debt consolidation Overview

Debt consolidation is combining of several unsecured debts into a single, new loan that is more favorable. Debt consolidation involves taking out a new loan to pay off a number of other debts like Credit Card dues, unsecured personal loan, private finance from individuals, unsecured business loan, car refinance and other high interest loan. The new loan may result in a lower interest rate, lower monthly payment and higher repayment tenure or all. You may be able to take out a debt consolidation by opting for home equity loan or other loans as suggested by CFPL Advisor

Debt consolidation Process

There are several steps in the Debt consolidation process. Here are the steps in brief:

•  Application form & Document submission
•  Cibil report check
•  Residence verification
•  Office
•  Eligibility calculation
•  Technical & Valuation
•  Personal Discussion
•  Credit decision
•  Offer Letter
•  Submission of Property documents & legal check
•  Registration of property documents
•  Signing of agreements and submitting post-dated cheques
•  Disbursement

Debt consolidation Features and Benefits

•  Much favourable loan.
•  Credit counsellors can cut your monthly payments in half
•  Offer lower interest rates than other
•  Debt settlement is the cheapest way to go
•  You need a formal program to get out of debt
•  Debt consolidation always saves you money
•  Debt consolidation helps your credit rating
•  It will avoid Bankruptcy

Debt Consolidation Eligibility

SELF EMPLOYED INDIVIDUAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

SELF EMPLOYED PROFESSIONAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

Salaried

•  You should be in business for a minimum of 3 years.
•  You should be employed Minimum 21 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

Smart Home Loan

Smart Home Loan Overview

Banks offers you the unique Smart Credit loan, where you decide what interest you pay. Smart Credit power packs your loan with transactional features that not only allow you to save on interest, but also help you repay your loan much faster. So, now you can make your every rupee work as hard as you do. In Smart Credit account deposit your excess savings rather than keeping it idle. In Smart Credit you will have the flexibility to withdraw the surplus money deposited in Smart Credit account. Deposit your excess funds in Smart Credit and save the interest on your Loan. In Smart Credit interest is calculated on daily outstanding balance. In Smart Credit you can use this account like current account.

To avail this product, you have to link a current or a savings account to your home loan at the same bank. You can deposit any surplus funds in this linked account. Whenever you deposit a surplus amount in the account, the bank considers this amount and deducts it from the principal of your home loan while calculating the interest on the outstanding home loan.

Smart home loan helps borrowers in two ways. First, it reduces your interest outgo resulting in reduced EMI. In Smart Home Loanyour interest liability is lower and principal amount outgo is higher. In broader outlook customers not only save the tenure but also saves on interest.

While smart home loan saves money, borrowers must evaluate the complete picture of the cost associated with it.

Smart Home Loan Features and Benefits

•  Our expertise to get u the right Banks / Institute to fulfill your requirement.
•  Loan repayment in flexible tenures from 1 year up to 30 years.
•  Lowest Rate of interest compare to any other loan.
•  Part Payment Facility without penalty.
•  Balance transfer facility.
•  Home Loan Top Up Facility.
•  Nil prepayment charges.
•  Applicant and Co- Applicant to the loan.
•  Tax Benefits : The effective rate of housing loans is much lower than the nominal rates quoted by the banks/housing finance companies because of the tax benefits.
•  Minimum/Hassle free Documentation.
•  Convenience of doorstep service.

Smart Home Loan Process

There are several steps in the Smart Home Loan process. Here are the steps in brief:

•  Application form & Document Submission
•  Cibil report check
•  Residence verfication
•  Office
•  Eligibility calculation
•  Technical & Valuation
•  Personal Discussion
•  Credit decision
•  Offer Letter
•  Submission of Property documents & legal check
•  Registration of property documents
•  Signing of agreements and submitting post-dated cheque
•  Disbursement

Smart Home Loan Eligibility

SELF EMPLOYED INDIVIDUAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.

SELF EMPLOYED PROFESSIONAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.

Salaried

•  You should have 3 years work Experience.
•  Your Minimum age should be 24
•  Your maximum age should be 58/60 at the time of closer of the loan.
•  You should have Minimum Rs 20000/- Net Salary

Construction Finance

Construction Finance Overview

Real Estate is India's rapidly developing business segment and multiple financial institutions including banking and non banking are offering Loans for New Construction i.e., Construction finance under project finance / loan.

Loan sanctioned to construct or develop a new real estate project including both residential as well as commercial is known as Construction Loan under Project finance department. An individual or a firm or company engaged in the business of real estate development or construction (Builder) can avail this Construction finance under Project finance / loan department.

Project finance / Construction finance is the long term financing of infrastructure based upon the projected cash flows of the project rather than the balance sheets of the project sponsors. This Construction loans / finance are most commonly non-recourse loans, which are secured by the project assets and paid entirely from project cash flow. This Construction finance is typically secured by all of the project assets, including the revenue-producing contracts. Project finance lenders are given a lien on all of these assets, and are able to assume control of a project if the project company has difficulties complying with the loan terms.

CFPL are specialized in Arrangement of Project Finance to Builders & Developers through banks and financial institution which CFPL has developed through trust and experience over decades.

Customizing our services to your unique requirements, we will develop and execute a financing that will maximize the economic value of your project. Project Finance is the long term finance based upon the projected cash flow of the project.

CFPL offers customize service to customers according to their requirements based upon their projects and experience.

Construction finance features & benefits

• No private Investor Required
• Better rate of Interest
• Financial Support
• No Extra collateral required

Construction finance process

1. Project Report.

2. Company Profile.

3. Valuation & legal Report.

4. Evaluation Report on Format.

5. Past & future Projection.

6. Credit history of the client.

7. Documentation.

8. Personal Discussion with the client.

Construction Finance Eligibility

To qualify for a Construction finance, most of the lending institutions in India require you to be:

• An Indian resident.
• Above 21 years of age at the commencement of the loan.
• Age Below 65 when the loan matures.
• Seasonal Builder with minimum 3 project or 1 lac sq ft.

Construction Finance Documents

Construction finance Documents can be classified in two Parts

Property Documents -

1. Project Report

2. Evaluation Report on format

3. Legal & Technical verification

4. Company profile

5. Past & future Projects 

6. Property Related Documents

Financial Documents-

1. 3 yrs Financial of the firm(complete set)

2. 3 yrs individual financial paper(Director/Partner/ Proprietor)

3. One year bank statement of the Firm

4. One year bank statement of Director/partner/ Proprietor

5. All loan sanction letters

6. KYC of the firm(Gumastha Licensce/Registration certificate)

7. KYC of the Partners/Directors/Proprietor

8. Directors Report if PVT LTD

9. Auditors Report if PVT LTD

10. MOA/AOA

11. Share Holding Pattern on company letter head 

12. Annual return with ROC copy

13. Photographs

14. Processing fee cheque

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033
E-mail: info@cfplindia.com / cfpl@live.in

Car Refinance

Car Refinance Overview

Car Refinance Loan is a secured loan like Mortgage Loan. In Car Refinance the Bank's and NBFC mark a lien on your paper and still the customer can use his car as usual. Interest rates in Car Refinance are similar to personal loan, but in Car Refinance the documents are less. Even if you car is not on Loan you can avail Car Refinance. You only need to give few details about your car such as model, year of manufacture etc. If your car is already financed you need not worry your lien will be transferred from present lender to new lender. Car Refinance is the easiest and simplest way to get funds. Like Personal Loan in Car Refinance the end use of the funds is not monitored.

There is a difference between the traditional car loan and a Car Refinance loan. The former is purchase of a car while Car Refinance is used to solve your money requirement by pledging a car you already own.

If you are looking for urgent expenses to be met like marriage, for education or medical expenses. Car Refinance is the best option. In Car Refinance the most important document is the R.C book copy and insurance copy. However financial documents also needs to be submitted. The Car Refinance loan is essentially a secured loan like a home Mortgage Loan. However in Car Refinance the process is much simpler and much faster. The Car Refinance loans allow you to take a loan on your existing car, by pledging the car registration papers with bank's and NBFC.

So, if you have a requirement for money and you own a car, then Car Refinance is a viable option when compared to the personal loan. Creative Finserve will help you to give the best deal possible in Car Refinance with help of our professionals.

Car Refinance Features and Benefits

•  Our expertise to get y the right Banks / Institute to fulfil your requirement.
•  Loan repayment in flexible tenures from 12 months up to 60 months.
•  Emergency Funds.
•  Speedy approvals upto the valuation of the car.
•  Balance transfer of car loan to get additional loan amount to fulfil your requirement.
•  No specification about the end purpose of the loan amount.
•  Minimum/Hassle free Documentation.
•  Convenience of doorstep service.

Car Refinance Process

There are several steps in the Car Refinance process. Here are the steps in brief:

•  Application form & Document submission
•  Cibil report check
•  Residence verfication
•  Office
•  Eligibility calculation
•  Valuation
•  Personal Discussion
•  Credit decision
•  Offer Letter
•  Signing of agreements and submitting post-dated cheques
•  Lean mark on RC book
•  Disbursement

Car Refinance Eligibility

SELF EMPLOYED PROFESSIONAL / INDIVIDUAL

• An Indian Resident
• You should be in business for a minimum of 3 years.
• You should be self employed Minimum 24 to maximum 65 years of age.
• Your current place of residence should be occupied for a minimum of 3 years in the city.
• You should have residence or office owned
• Your car should not be more than 10 years old

PARTNERSHIP FIRM / PRIVATE LIMITED COMPANY

• An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned
•  Your car should not be more than 10years old

Salaried

• You should 3 years work Experience.
• You min age should be 24
• Your maximum age should be 58/60 at the time of closer of the loan.
• You should have Minimum Rs 20000/- Net Salary
• You should have Own residence
• Your car should not be more than 10 years old

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033

E-mail: info@cfplindia.com / cfpl@live.in

Balance Transfer of Professional Loan

Balance transfer of Professional Loan Overview

Balance Transfer is an option where you can transfer your existing Loan to new lender. The process in which the customer transfers his existing Professional Loan to new Lender is called as Balance Transfer of Professional Loan. Generally customers tend to shift from the present Lender to new Lender on the basis of the Lower interest rate offered by the new lender. Lower interest rate means you will have to pay less interest rate on your existing Loan. Normally Banks offers top up amount (additional amount) while doing Balance Transfer of Professional Loan. Top up amount is an option where the customer can avail extra amount for his personal use. The end use of the amount is not monitored by the bank so the customers can use this amount for his personal use. Balance Transfer of Professional Loan with Top Up is a good option for the customers as the customer can transfer his existing Professional Loan for better rate of interest and can avail extra amount for his personal use.

Balance Transfer of Professional Loan with Top up

Professional Loan is a loan provided to Professional like CA's, Doctors, CS to meet your financial needs and is also referred as an unsecured Loan as there is no security against it Borrowers generally must have high credit ratings to be approved for a Professional Loan. It is usually taken by borrowers who are looking for quick and easy loans with manageable interest rate and minimum documentation. You can use a Professional Loan as per your convenience without being monitored for the actual end usage. The borrower promises to repay Professional Loan without offering an asset such as a home or car to serve as collateral in the event the loan is not repaid. To be approved for an unsecured Professional Loan, a borrower must have a good credit history.

Balance transfer of Professional Loan Features and Benefits

•  Our expertise to get u the right Banks / Institute to fulfill your requirement.
•  Loan repayment in flexible tenures from 12 months up to 60 months.
•  No collateral/ guarantor / security required.
•  Speedy approvals
•  Attractive Rate of Interest
•  Special Interest Rate for professional Doctors/ CA & Architect.
•  Minimum/Hassle free Documentation.
•  Funds available for business expansion, working capital, child's education or home renovation.
•  Convenience of doorstep service.

Balance transfer of Professional Loan Process

There are several steps in the Balance Transfer of Professional Loan process. Here are the steps in brief:

•  Application form & Document submission
•  Cibil report check
•  Residence verfication
•  Office verfication
•  Eligibility calculation
•  Personal Discussion
•  Credit decision
•  Signing of agreements and submitting post-dated cheques
•  Disbursement

Balance transfer of Professional Loan Eligibility

SELF EMPLOYED INDIVIDUAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

SELF EMPLOYED Professional

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

Salaried

•  You should be in business for a minimum of 3 years.
•  You should be employed Minimum 21 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033

E-mail: info@cfplindia.com / cfpl@live.in

Balance Transfer of Business Loan

Balance Transfer of Business Loan Overview

Unsecured Business Loan is similar to a personal loan, but is specifically designed for business use. With Unsecured Business Loan, you borrow a certain sum of money over a period of years, and the interest rate and monthly payments are fixed over the term. Unsecured Business Loan can prove vital when managing the demands of employees, clients and cash flow for a smaller business. With some types of Unsecured Business Loan, you can set out how much you want to borrow and for how long. As a customer you need to decide when to go for a change and enjoy the benefits of Balance Transfer of Business Loan

Balance Transfer of Business Loan is a loan where you can transfer your multiple loans (up to 3 loans) to a single loan under one bank/institute for better rate of interest and can avail additional loan amount for your business purpose. Balance transfer is a very lucrative facility for individuals who have taken a loan, but surprisingly very few avail of it. The problem is very few are aware of it. Every individual that has taken a Business Loan should opt for a balance transfer at least once during the tenure of the loan. Balance transfer of Business Loan reduces you interest rates and finally enables you to save on the interest you have to pay. Balance transfer of Business Loan is a great facility that lets you reexamine your debt, make changes to it and also tweak it according to your requirements.

Balance transfer of Business Loan happens when the entire unpaid principal loan amount is transferred to another bank for a lower rate of interest. The bank that had originally extended the loan to you gets the unpaid amount and you have to, in turn, now pay your EMIs at the new rate to the bank that has taken up the loan. Most of the private bank/NBFC's has a facility for Balance transfer of Business Loan and if you have been paying your EMIs regularly, there is often no problem associated with it.

There is, however, a need to carry out a cost benefit analysis. Balance transfer of Business Loan will depend on the difference between the interest rates offered by the two banks, the amount of the loan left unpaid and the tenure remaining. If the unpaid amount is low or if only a few years remain in terms of tenure, Balance Transfer of Business Loan may not be ideal. This is also because banks often levy a processing fee for balance transfer and in the end it may not be all that beneficial.

WE at Creative Finserve encourage borrowers to maintain a healthy credit profile by paying all their loan EMI's regularly. Taking a loan means a long term obligation to repay it and hence, we recommend you do a thorough research or Creative Finserve will guide you in all aspects and give you a personalized solution through its professional team and dedicated service.

Balance Transfer & top up of Business Loan features & benefits

•  Our expertise to get u the right Banks / Institute to fulfill your requirement
•  Loan repayment in flexible tenures from 12 months up to 60 months.
•  No collateral/ guarantor / security required
•  Speedy approvals
•  Attractive Rate of Interest
•  Special Interest Rate for professional Doctors/ CA & Architect.
•  Minimum/Hassle free Documentation.
•  Funds available for business expansion, working capital, child's education or home renovation
•  Convenience of doorstep service

Balance Transfer of Business Loan Process

There are several steps in the Balance Transfer & top up of Business Loan process. Here are the steps in brief:

•  Application form & Document submission
•  Cibil report check
•  Residence verfication
•  Office verfication
•  Eligibility calculation
•  Personal Discussion
•  Credit decision
•  Signing of agreements and submitting post-dated cheques
•  Disbursement

Balance Transfer & top up of Business Loan eligibility

SELF EMPLOYED INDIVIDUAL

•  An Indian Resident.
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned.

SELF EMPLOYED PROFESSIONAL

•  An Indian Resident.
•  You should be Practicing Doctor or CA business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned.

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033

E-mail: info@cfplindia.com / cfpl@live.in

Balance Transfer of Personal Loan

Balance Transfer of Personal Loan Overview

Personal loans are handy when you are in a spot and need some urgent cash. Personal loans is taken to fill the short term capital fund for business expansion or any urgent requirement. Be it a loan for holiday abroad, your child's education, and loan for marriage or wedding personal Loan is the best option. Personal loans is availed without any security collateral. Personal loans can be availed through simple documentation.

Balance Transfer of personal Loan with Top up

Balance Transfer is an option where you can transfer your existing Loan to new lender. The process in which the customer transfers his existing Personal loans to new Lender is called as Balance Transfer of Personal loans. Generally customers tend to shift from the present Lender to new Lender on the basis of the Lower interest rate offered by the new lender. Lower interest rate means you will have to pay less interest rate on your existing Loan. Normally Banks offers top up amount (additional amount) while doing Balance Transfer of Personal loans. Top up amount is an option where the customer can avail extra amount for his personal use. The end use of the amount is not monitored by the bank so the customers can use this amount for his personal use. Balance Transfer of Personal loans with Top Up is a good option for the customers as the customer can transfer his existing Personal Loan for better rate of interest and can avail extra amount for his personal use.

Balance Transfer of Personal Loan Features and Benefits

•  Our expertise to get u the right Banks / Institute to fulfill your requirement.
•  Loan repayment in flexible tenures from 12 months up to 60 months.
•  No collateral/ guarantor / security required.
•  Speedy approvals
•  Attractive Rate of Interest
•  Special Interest Rate for professional Doctors/ CA & Architect.
•  Minimum/Hassle free Documentation.
•  Funds available for business expansion, working capital, child's education or home renovation.
•  Convenience of doorstep service.

Balance Transfer of Personal Loan Process

There are several steps in the Balance Transfer of personal Loan process. Here are the steps in brief:

•  Application form & Document submission
•  Cibil report check
•  Residence verfication
•  Office verification
•  Eligibility calculation
•  Personal Discussion
•  Credit decision
•  Signing of agreements and submitting post-dated cheques
•  Disbursement

Balance Transfer of Personal Loan Eligibility

SELF EMPLOYED INDIVIDUAL

 An Indian Resident
 You should be in business for a minimum of 3 years.
 You should be self employed Minimum 24 to maximum 65 years of age.
 Your current place of residence should be occupied for a minimum of 3 years in the city.
 You should have residence or office owned

SELF EMPLOYED PROFESSIONAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

Salaried

•  You should have 3 years work Experience.
•  Your Minimum age should be 24
•  Your maximum age should be 58/60 at the time of closer of the loan.
•  You should have Minimum Rs 20000/- Net Salary

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033

E-mail: info@cfplindia.com / cfpl@live.in

Balance Transfer of Loan Against Property

Balance Transfer of Loan Against Property Overview

Your property builds value both emotionally and economically with time. Loan Against Property you can leverage the economic worth of your property while continuing to enjoy occupancy of the same, so that you get immediate finance to meet a variety of personal and business needs. With Loan Against Property you can raise funds for your business and personal use as and when required.

The term Loan Against property refers to a situation in which the borrower takes a loan from a bank or financial institution where the security for the loan is a property that is owned by the borrower. If you own a valuable asset in the form of house (self occupied, rented or vacant) or a commercial property you can go for a hi Loan against property is a multi-purpose loan with longer tenure and lesser rate of interest. It would like to leverage your property without giving it on rent or selling it?

Balance Transfer of Loan Against property refers to transferring of existing loan to a new lender for better rate and additional loan amount. Balance transfer of Loan Against Property happens when the entire unpaid principal loan amount is transferred to another bank for a lower rate of interest. The bank that had originally extended the loan to you gets the unpaid amount and you have to, in turn, now pay your EMIs at the new rate to the bank that has taken up the loan. Almost every bank in the country has a facility for a balance transfer of Loan Against Property and if you have been paying your EMIs regularly, there is often no problem associated with it.

There is, however, a considerable amount of work involved for balance transfer of Loan Against Property The bank where your loan will be transferred will do a credit background check and if they are not satisfied with your credit worthiness, there is every chance of your balance transfer of Loan Against Property being refused

Creative Finserve will help you with the best deal in balance transfer of Loan Against Property with our professional team and give you personalized solution to your requirement.

Balance Transfer of Loan Against Property + top up features & benefits

•  Our expertise to get u the right Banks / Institute to fulfill your requirement
•  Loan tenor up to 30yrs
•  Attractive Rate of Interest.
•  Part Payment Facility.
•  Additional top-up amount can be used as per your requirement.
•  Minimum/Hassle free Documentation.
•  Funds available for business expansion,working capital, child's education, home renovation..
•  Convenience of doorstep service.

Loan Against Property BT + TOP Process

There are several steps in the Loan Against Property BT + TOP process. Here are the steps in brief:

•  Application form & Document Submission
•  Cibil report check
•  Residence verfication
•  Office verfication
•  Eligibility calculation
•  Technical & Valuation
•  Personal Discussion
•  Credit decision
•  Offer Letter
•  Submission of Property documents & legal check
•  Registration of property documents
•  Signing of agreements and submitting post-dated cheque
•  payment to existing Bank
•  Agreement Collection From Existing bank
•  Disbursement ( top - up payorder )

Balance Transfer of Loan Against Property Eligibility

SELF EMPLOYED INDIVIDUAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

SELF EMPLOYED PROFESSIONAL

•  An Indian Resident
•  You should be in business for a minimum of 3 years.
•  You should be self employed Minimum 24 to maximum 65 years of age.
•  Your current place of residence should be occupied for a minimum of 3 years in the city.
•  You should have residence or office owned

Salaried

•  You should have 3 years work Experience.
•  Your Minimum age should be 24
•  Your maximum age should be 58/60 at the time of closer of the loan.
•  You should have Minimum Rs 20000/- Net Salary

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033

E-mail: info@cfplindia.com / cfpl@live.in

Balance Transfer of Home Loan

Balance Transfer of Home Loan Overview

A Home Loans transfer (also known as refinancing or balance transfer) is an option that most individuals opt for to avail the benefit of lower interest rates prevalent in the market. Usually the existing borrower of a bank, who is about two or more years into his loan tenure, does not get the benefit of falling interest rates in the market. The Reserve Bank of India has been insisting on lower interest benefits to be passed on to the existing borrowers as well, but this seldom happens.

Balance transfer of Home Loans happens when the entire unpaid principal loan amount is transferred to another bank for a lower rate of interest. The bank that had originally extended the loan to you gets the unpaid amount and you have to, in turn, now pay your EMIs at the new rate to the bank that has taken up the loan. Almost every bank in the country has a facility for a balance transfer of Home Loans and if you have been paying your EMIs regularly, there is often no problem associated with it.

There is, however, a need to carry out a cost benefit analysis. Balance transfer of Home Loan will depend on the difference between the interest rates offered by the two banks, the amount of the loan left unpaid and the tenure remaining. If the unpaid amount is low or if only a few years remain in terms of tenure, balance transfer may not be ideal. This is also because banks often levy a processing fee for balance transfer of Home Loans and in the end it may not be all that beneficial.

This is a substantial amount and despite the processing fee that you may have to incur on the balance transfer of Home Loan process. There is, however, a considerable amount of work involved for balance transfer of Home Loan. The bank where your loan will be transferred will do a credit background check and if they are not satisfied with your credit worthiness, there is every chance of your balance transfer of Home Loans being refused

Creative Finserve will help you with the best deal in balance transfer of Home Loans with our professional team and give you personalized solution to your requirement.

Balance transfer of Home loan + top up features & benefits

• Our expertise to get u the right Banks / Institute to fulfill your requirement
• Loan tenor up to 30yrs
• Attractive Rate of Interest.
• Part Payment Facility.
• Additional top-up amount can be used as per your requirement.
• Minimum / Hassle free Documentation.
• Funds available for business expansion,working capital, child's education, home renovation.
• Convenience of doorstep service.

Home Loan BT+ TOP UP Process

There are several steps in the home loan BT+ TOP UP process. Here are the steps in brief:

•  Application form & Document Submission
•  Cibil report check
•  Residence verfication
•  Office verfication
•  Eligibility calculation
•  Technical & Valuation
•  Personal Discussion
•  Credit decision
•  Offer Letter
•  Submission of Property documents & legal check
•  Registration of property documents
•  Signing of agreements and submitting post-dated cheque
•  payment to existing Bank
•  Agreement Collection From Existing bank
•  Disbursement

Balance Transfer of Home Loan Eligibility

SELF EMPLOYED INDIVIDUAL

• An Indian Resident
• You should be in business for a minimum of 3 years.
• You should be self employed Minimum 24 to maximum 65 years of age.
• Your current place of residence should be occupied for a minimum of 3 years in the city.
• You should have residence.

SELF EMPLOYED PROFESSIONAL

• An Indian Resident
• You should be Practicing Doctor or CA business for a minimum of 3 years.
• You should be self employed Minimum 24 to maximum 65 years of age.
• Your current place of residence should be occupied for a minimum of 3 years in the city.
• You should have residence.

Salaried

• You should have 3 years work Experience.
• Your Minimum age should be 24
• Your maximum age should be 58/60 at the time of closer of the loan.
• You should have Minimum Rs 20000/- Net Salary

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033

E-mail: info@cfplindia.com / cfpl@live.in

Loan Against Property (LAP)

The term 'loan against property' refers to a situation in which the borrower takes a loan from a bank or financial institution where the security for the loan is a property that is owned by the borrower. If you own a valuable asset in the form of house (self occupied, rented or vacant) or a commercial property you can go for a loan against property. Loan against property is a multi-purpose loan with longer tenure and lesser rate of interest. It would like to leverage your property without giving it on rent or selling it?

You can now take a loan against property against your residential or commercial property, to expand your business, plan a dream wedding, fund your child's education and much more. Loan against Property is to meet your business or personal needs.

Loan against Property solutions will help you to unlock the hidden value of your property. With Loan against property you can now fulfill any of your personal or business needs. What's more, this loan can be repaid comfortably over as many as 15 years. Loan against Property / Mortgage loan is obtained by the way of mortgaging the asset with the lending institute.

Loan against property is a very good borrowing option as there are several advantages of a property, which include possibility of appreciation in value, being in the nature of a fixed asset, income earning potential and so on. This allows the best use of the property that is owned and at the same time will enable the raising of funds required for various purposes.

Also, a loan against property comes with a low interest rate compared to that of a personal loan or home loan. Proper use of the funds will ensure that the maximum benefit is taken from the position. The value of an asset or property should be enough to qualify the sanction of the loan amount as needed by the borrower. Loan against Property (Mortgage loan) is opted for when the amount required is considerably more and cannot be raised by the means of unsecured loans and the repayment period is comparatively more than 5 years. Generally the properties having appreciating value in market are considered good for mortgage Loan like Residential or commercial premises etc.

Creative Finserve can arrange you Loan Against Property in following programs

1) Average Banking Program: Max Loan Amt 2Crs.

In Loan Against Property Average Banking signifies that the client's banking should be healthy. Generally customers who does not have a strong financial (I T) return and who has a healthy bank statement can avail this programme This program works on the basis of average bank balance of last consecutive 12 month. In Loan Against Property calculation is done on the closing balance on respective days as per banks /NBFC. Whatever is the average bank balance the same amount is called average banking. For calculation one year banking is mandatory. Calculation method of the average bank balance on the closing balance amount on every 5th 10th 15th etc day on every month in the bank statement.(Dates may vary from bank to bank) Monthly three credit transactions required in the last 6 months. Every BANK/NBFC'S has their own multipliers as per customer requirements. These multipliers is multiplied by the average bank balance amount, the amount comes is taken as affordable property loan EMI as customers eligibility of the Loan Against Property. This programme is mainly beneficial to self employed. Multiple business accounts can be clubbed in this programme.

2) Banking Turnover Program: - Maximum Loan up to 7.50 Crs.

This is a unique programme formulated by few private banks. In this variants customers needs to concentrate on their credits transaction. Generally customers who does not have a strong financial (IT) return and who has a healthy bank statement can avail this programme In Loan Against Property banking turnover is a unique programme where customer can avail this with minimal documents. For more details contact Creative Management Team.

3) Mortgage Take over (RTR Surrogate) : Max Loan Amt 5CR & Minimum 12 Months track required with multiplier as - (12 Months -- 1.1times; 18M -- 1.2times; 24M -- 1.3times & 36M -- 1.4times multiplier of the original loan amt).

Customers who has already taken mortage loan with good track record and already completed more than 12 EMI's are eligible under this programme to avail Loan Against Property.

4) LIP: Loan Amt up to Max 1.5CR

Customers who does not have a strong financial papers instead have average banking transcations can avail this facility. Customers who carry out their business in more in cash are eligible for this product. Normally banks ask for minimal document in LIP (Liquid Income program)

5) Low LTV @ 35% - Max Loan Amt 1.5CR.

In this programme customers financial papers are not taken in to consideration while calculating the eligibility.In LAP programme customer can avail maximum 35% of the market value whatever may be his income.

6) Gross Turnover : Max Loan Amt 25CR

Here customers sales turnover is taken in to consideration. He should be having a strong financial background and healthy bank statement. Customer should be having a steady business going with a good experience. Customer credit rating is the most imperative point.

7) Gross Profit : Max Loan Amt 7.5CR.

In this, calculation is derived from his business gross profit. Customer should be having a steady business going with a good experience. He should be having a strong financial background and healthy bank statement. Manufacturers and traders can take benefit from this programme. Customer who does not show healthy turn over can benefit from this programme.

8) Banking Turnover : Max Loan Amt 7.5CR.

In this product BANKS/NBFC'S calculate customer's eligibility by calculating your bank's turnover. Your bank statement should be healthy. Customers who are mostly in to cash business can take advantage of this programme.

9) Gross Receipt : Max Loan Amt 10CR. (Multiplier for Doctor - 3times / CA's & Architect - 2times)

This programme is mainly designed for self employed professionals. Calculation is done on your gross receipt and your financials plays a pivotal role. Customer who does not show healthy turn over can benefit from this programme.

Loan Against Property Features and Benefits

• Our expertise to get u the right Banks / Institute to fulfill your requirement
• Provides you with instant liquidity when you require it the most without selling your property.
• Loan repayment in flexible tenures from 1 year up to 15 years
• Higher Loan amount with Lower EMI.
• Funds can be used for business as well as personal needs.
• Flexible repayment - Option to choose between Dropline Overdraft Facility or EMI based loan.
• Residential and commercial properties accepted as collateral.
• Excellent debt consolidation tool.

Loan Against Property Process

There are several steps in the Loan Against Property process. Here are the steps in brief:

• Application form & Document Submission
• Cibil report check
• Residence verfication
• Office
• Eligibility calculation
• Technical & Valuation
• Personal Discussion
• Credit decision
• Offer Letter
• Submission of Property documents & legal check
• Registration of property documents
• Signing of agreements and submitting post-dated cheque
• Disbursement

Loan Against Property Eligibility

SELF EMPLOYED INDIVIDUAL

An Indian Resident

You should be in business for a minimum of 3 years.

You should be self employed Minimum 24 to maximum 65 years of age.

Your current place of residence should be occupied for a minimum of 3 years in the city.

You should have residence or office owned

SELF EMPLOYED PROFESSIONAL

An Indian Resident

You should be in business for a minimum of 3 years.

You should be self employed Minimum 24 to maximum 65 years of age.

Your current place of residence should be occupied for a minimum of 3 years in the city.

You should have residence or office owned

Salaried

You should 3 years work Experience.

You min age should be 24

Your maximum age should be 58/60 at the time of closer of the loan.

You should have Minimum Rs 20000/- Net Salary

You should have Own residence

Drop line Over draft (OD)

Having an overdraft feature on your bank account gives numerous benefits. Overdraft account protection is a customized feature which lets you spend beyond what is in your account. If you are qualified, your financial institution can give you overdraft protection although it usually comes with a fee. It is not uncommon to be charged a fee as well as a percentage rate on the amount of money that you use in your overdraft. Overdraft protection can be extremely useful in the event that you do not have enough money in your account for a pre-authorized bill. If you are protected by overdraft you will not get charged a non sufficient funds fee which accompanies a payment in the event that it is declined by your financial institution. It can also be a great back up for unexpected expenses. If you need to dig into your overdraft account in an emergency situation overdraft provides peace of mind that it is there for you to do so.

Contact Info :

Office No 35, Ground Floor,

Shiv Shambhu Chs (Seawoods), L.T. Road.

Borivali (West), Mumbai - 400092.

Telephone: 022 - 65662010 / 022 - 69000012 / 022 - 69000033

E-mail: info@cfplindia.com / cfpl@live.in