Safal Loans: Compare Home Loan

ONLINE MARKETPLACE FOR HOME LOANS

Looking for a Home Loan ? Confused where to go & where to apply ? Your one stop solution is here !!

Safal Loans is an online marketplace for all types of Home Loans, Loan against property & Mortgage Loans.

Compare loans from all Banks and then choose loan best suited for you. Complete guidance right from Loan application to Disbursement at your fingertips.



What is Home Loan ?

Home Loan is taken by Individuals for purchase / construction of house. Interest on these loans are lower as compared to other loans and are for a longer tenure. House is given as security for the loan and title of the property is given back to the borrower after full repayment of the loan.

What is Loan against property (LAP) ?

In LAP, loan is offered by taking commercial / residential / agricultural premises as security. Title of the property is pledged in favour of the Bank / NBFC giving loan.

What is Home Loan Balance Transfer (BT) ?

Balance transfer refers to transfer of loan from one Bank to another. When a Home Loan / LAP is already running in a particular Bank say Bank A, and some other Bank say Bank B, offers a lower interest rate as compared to Bank A, then you can transfer your loan from Bank A to Bank B. Loan in Bank A will be closed & new loan will be opened in Bank B. Bank B will make payment to Bank A and take possession of property papers.

How will Safal Loans help in taking Home Loan / LAP ?

Our proprietary algorithms check your financial profile against Loan criteria of various Banks / NBFCs. We suggest Bank / NBFC best suited to your need. Then we take your Home Loan / LAP application to these Banks and help in completing all the formalities right from sanction to disbursement. Also we do not charge anything to our customers.

Which Documents required for taking Home Loan ?

- Identity proof (Adhar card, PAN card, Voter Id etc.)
- Residence proof (Electricity Bill, Telephone Bill etc.)
- Photo
- Income proof (Salary slip for salaried, Business documents for self employed, 3 years Income Tax returns etc.)
- One year Bank statement
- Property documents (Approved plan, construction permission, previous agreements, title search report etc.)



DISCLOSURES

We are not directly engaged in money lending activities and are only providing a platform to facilitate money lending by RBI registered Non-Banking Financial Companies (NBFCs) or Banks.

We have partnered with HDFC Ltd and Aadhar Housing Finance for Home Loans / Loan against Property.

We are not involved in marketing of any Unsecured Loans.



We have partnered with following Bank / NBFC for sourcing loans
- Shalibhadra Finance



Customers applying for a Personal Loan should note that:

- Personal Loans usually have a repayment tenure of 12 months to 5 years.

- Based on applicant's profile and lender's policy, the APR (Annual Percentage Rate) of a personal loan may range from 10% to 35%

- For example, on a personal loan of Rs. 1 lakh at an interest rate of 14% with repayment tenure of 2 years, the EMI will be Rs. 4,802. The total payout here would be:

Principal Amount: Rs 1,00,000
Interest Charges (@14%): Rs 15,248
Loan Processing Fees (@1%): Rs 1000
Documentation charges: Rs 400
Amortization Schedule charges: Rs 100
Total cost of the loan: Rs 1,16,748

- Based on sanction letter / lender's policy, Additional charges / penal interest may be also be levied for change of payment mode, delay in payment of EMIs or non-payment of EMIs.

- Prepayment option may or may not be available based on Sanction Letter and Lender's policy. Moreover prepayment charges may vary from lender to lender.

- We do not offer personal loans which require repayment in full in 60 days or less from the date the loan is issued. We only assist in getting loans with a tenure of 12 months or more from Banks / NBFCs registered with RBI.

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