At Way2Gro, we understand this better than most – the toil and sweat that goes into building/ buying a house and the subsequent pride and joy of owning one. This is why our Housing loan schemes are designed to make it simple for you to make a choice at least as far as financing goes!
Home loans are loans that are taken for the purpose of buying a house. Home loans are secured loans. The house acts as a collateral or security to the loan.
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. The nature of the property will determine the amount of the loan that is possible and the extent of the amount of the loan that is actually available at a certain point of time. Availing of a loan against property ensures that the necessary borrowing is completed with the security being created and that the funds are available for the necessary use at a low interest rate. The interest rate is lower than other loan interest rates because the property element makes it a type of secured loan. Loan against property is similar to other loans like home loan, personal loan, etc., but it is available for those who own a property which is not already mortgaged and the person should also be willing to give the property as a security for the loan. The property also has to be in a condition that meets the requirement of the lender because it has to have the necessary value in order to be eligible to be held as a security. The various other conditions of the loan in terms of operation will be as per the standard conditions present for a loan and this usually covers the mode of repayment, calculation of interest as per the agreed rate of interest, term of loan and so on.
The full form of LRD is Lease Rental Discounting: Loans work on the premise of rental properties being owed a fixed amount of rent. Tenants enter into a lease with the owner of the property. This agreement mandates a regular payment which is known as rent.
LRD meaning is that you have mortgaged/leased your income-producing (through fixed rent) commercial assets/property to the lender as a collateral to generate funds instantly. You get a term loan against the mortgaged property that can be used for any purpose.
Purpose: The LRD in banking can be availed for any productive purpose such as repairs or renovations of the building, purchase of property, acquisition, expansion, projects or any other business-related requirements such as additional funds requirement, refinance of existing debt, and so on.
Loan Amount: Depending on the bank’s norms, you can get up to 80% of the total future rent receivable, subject to a minimum of Rs. 5 Lakhs and maximum up to Rs. 500 Crores.
Rate of Interest: The LRD rate of interest varies from lender to lender and starts from time to time.
Repayment Tenure: The LRD Loan can be repaid in equated monthly instalments (EMIs) in flexible tenure ranging between 3 to 18 years depending on Banks Norms. Generally, the loan has to be repaid through an escrow account with the Bank.
The full form of LAS is Loan Against Securities: A Loan availed against your pledged securities as collateral with a bank. Loan Against Securities allows you to raise instant funds against shares, mutual funds, insurance etc., without selling them. Pledge your securities against your investments and get an overdraft facility of up to a certain value.
For smooth transactions, a current account is opened in the name of the customer. The rate of interest is calculated only on the amount withdrawn by you and only for the period of utilization.
Shares, Equity & Debt Mutual Funds, Kisan Vikas Patra (KVP), Fixed Maturity Plans (FMP), Insurance policies issued by LIC and select Private Insurance Companies, Non-Convertible Debentures (NCD), Tax free Bonds (RBI, NABARAD, NHAI, PFC, IRFCL, HUDCO, IIFCL, NHB, REC, and IREDA).
Working capital (WC) is a financial metric which represents operating liquidity available to a business, organization, or other entity, including governmental entities. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital.
A working capital that covers a company’s short-term operational needs. Those needs can include costs such as payroll, rent, and debt payments. Companies with high seasonality or cyclical sales may rely on working capital loans to help with periods of reduced business activity. Working capital loans are often tied to a business owner’s personal credit, so missed payments or defaults may hurt their credit score.
Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and upcoming operational expenses. The goal of working capital management is to ensure that the firm is able to continue its operations and that it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses.
Personal loan, a loan to meet your current financial needs, is also referred to as an unsecured loan as there is no security against it. It is usually taken by borrowers who are looking for quick and easy loans with manageable interest rate and Minimum documentation.
Be it a loan for a holiday abroad, your child’s education loan, a loan for home renovation, a loan for a marriage or wedding in the family, repayment of an existing loan, an emergency or even buying that precious gift for your loved one, with WAY2GRO easy Personal Loans, you don’t have to worry about financing your dreams and responsibilities.
A Business Loan is an unsecured loan at an interest rate, giving you access to credit that can be paid back over an agreed time along with the interest, without any security against it.
WAY2GRO understand that expansion of your business is the dream of every Entrepreneur. At times, you may require an urgent flow of finance to fuel the growth of your enterprise. Business loans are designed just for that. Customized with Flexi EMI options, that let you pay.
+91 9740503344