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A professional unsecured loan is a type of loan that is available to professionals, such as doctors, Chareterd Account, and Company secretary. These loans are unsecured, which means that they do not require any collateral. This makes them a good option for professionals who do not have any assets to secure a loan.
MNS BANK Loan Rate of Interest
| SR NO | Name of Loan | Amount | Rate |
| 1 | Gold Loan | Upto ₹ 2 Lakh | 12.00% |
| Above ₹ 2 Lakh | 12.50% | ||
| 2 | Wear house Loan | upto ₹ 10 Lakh | 13.00% |
| Above ₹ 10 lakhs | 12.00% | ||
| 3 | Vehicle Loan | ₹ 2 Lakhs | 14.00% |
| 4 | Private Car with Colltrol | ₹ 2 lakhs | 13.50% |
| 5 | Commercial vehicle | ₹ 2 Lakhs | 14.50% |
| 6 | Home Loan | Upto ₹ 10 Lakhs | 14.00% |
| Above ₹ 10 Lakhs | 13.50% | ||
| 7 | term Loans. | upto ₹ 5 Lakhs | 14.50% |
| Above ₹ 5 lakhs To 25 Lakhs | 14.00% | ||
| Above ₹ 25 Lakhs | 13.00% | ||
| 8 | Professional Loan(CA, DR) | ₹ 5 Lakhs | 14.50% |
| 9 | Cash credit | upto ₹ 10 Lakh | 14.50% |
| 10 Lakhs To 50 | 14.00% | ||
| 50 lakhs above | 13.00% | ||
| 10 | Micro finance | 25.00% | |
| 11 | Small Industry | 14.00% | |
| 12 | Salary Loan | ₹2 lakh | 14.50% |
| with colltrol | ₹ 2 Lakhs Above | 14.00% | |
| 13 | Education Loan | ₹5 Lakhs | 14.50% |
Professional unsecured loans can be used for a variety of purposes, such as:
The terms of professional unsecured loans vary depending on the lender. However, most loans will have a repayment period of 12 to 60 months.
The interest rate on a professional unsecured loan will also depend on the lender and the borrower’s credit score.
To qualify for a professional unsecured loan, you will need to meet the following criteria:
Be a professional, such as a doctor, Company secretary or chartered accountant
Be able to repay the loan on time.
If you are a professional who is looking for a loan, a professional unsecured loan may be a good option for you. These loans can be used for a variety of purposes and they do not require any collateral.
A home loan, also known as a mortgage, is a type of loan provided by banks or financial institutions to help individuals or families purchase a home. It is a long-term loan that is repaid over a specified period, typically ranging from 15 to 30 years.
Here are some key points to understand about home loans:
Loan Amount: The loan amount is the total amount of money borrowed from the lender to purchase a home. It is generally a percentage of the property’s purchase price, and the borrower is required to make a down payment, which is the initial payment made toward the home.
Interest Rate: The interest rate is the cost of borrowing the money and is usually expressed as an annual percentage. It determines the amount of interest the borrower will pay over the life of the loan. The interest rate can be fixed (stays the same throughout the loan term) or adjustable (varies based on market conditions).
Loan Term: The loan term refers to the duration over which the borrower agrees to repay the loan. Common terms are 15 years and 30 years, but other options may be available. Shorter terms generally result in higher monthly payments but lower overall interest costs.
Monthly Payments: Borrowers make monthly payments to the lender, which typically include principal (the loan amount) and interest. In some cases, property taxes and homeowner’s insurance may also be included in the monthly payment as part of an escrow account.
Eligibility and Approval: Lenders assess several factors to determine a borrower’s eligibility for a home loan, including credit history, income, employment stability, and debt-to-income ratio. The lender will also appraise the property to ensure its value aligns with the loan amount.
A vehicle loan, also known as an auto loan or car loan, is a type of financing that allows individuals to purchase a vehicle while spreading the cost over a specific period. Vehicle loans are typically offered by banks, credit unions, and other financial institutions. Here are some key points to understand about vehicle loans:
Loan Amount: The loan amount for a vehicle loan is the total amount of money borrowed to purchase the vehicle. It can cover the full purchase price or a portion of it, depending on the borrower’s down payment.
Interest Rate: The interest rate on a vehicle loan is the cost of borrowing the money, usually expressed as an annual percentage rate (APR). The interest rate is influenced by factors such as the borrower’s credit history, loan term, and the current market conditions.
Loan Term: The loan term refers to the duration over which the borrower agrees to repay the loan. Typical loan terms for vehicle loans range from 36 to 72 months, although longer terms may be available. A longer loan term typically results in lower monthly payments but may result in higher overall interest costs.
Down Payment: A down payment is the initial payment made by the borrower toward the purchase of the vehicle. The down payment amount can vary, but it is typically a percentage of the vehicle’s purchase price. A larger down payment reduces the loan amount and can result in lower monthly payments and interest costs.
Monthly Payments: Borrowers make regular monthly payments to repay the loan over the agreed-upon loan term. Each payment consists of both principal (the loan amount) and interest. Some lenders may also include additional charges, such as fees or insurance, in the monthly payment.
Collateral: In a vehicle loan, the vehicle itself serves as collateral for the loan. This means that if the borrower fails to repay the loan, the lender may repossess the vehicle to recover the outstanding balance.
Pre-approval and Shopping Around: It’s advisable to get pre-approved for a vehicle loan before visiting dealerships. This process involves submitting an application to a lender to determine the loan amount and interest rate you qualify for. Pre-approval gives you an idea of your budget and helps you negotiate with dealerships effectively. It’s also recommended to shop around and compare loan offers from multiple lenders to find the best terms and interest rates.
A gold loan is a type of loan that is secured by gold jewelry or other gold bullion. The loan amount is typically based on the value of the gold, and the interest rate is usually lower than other types of loans. Gold loans can be a good option for people who need quick cash and have gold jewelry or bullion that they can use as collateral.
Here are some of the benefits of gold loans:
A business loan is a type of financing provided by banks, financial institutions, or alternative lenders to help businesses fund their operations, expansion, or other specific needs. Business loans can be used for a variety of purposes, such as purchasing equipment, financing inventory, expanding facilities, hiring staff, or managing cash flow. Here are some key points to understand about business loans:
Types of Business Loans: There are different types of business loans available, including:
Term Loans: These are traditional loans with a fixed repayment term, typically ranging from one to five years. The borrower receives a lump sum of money upfront and repays it with interest over the agreed-upon term.
Lines of Credit: A line of credit provides a revolving credit limit that businesses can draw from as needed. Interest is charged only on the amount borrowed, and once repaid, the credit becomes available again.
Equipment Financing: This type of loan is specifically used to purchase equipment or machinery for the business. The equipment itself often serves as collateral for the loan.
Small Business Administration (SBA) Loans: SBA loans are government-backed loans designed to support small businesses. They offer favorable terms and lower down payment requirements but typically have stricter eligibility criteria.
Loan Amount and Eligibility: The loan amount and eligibility criteria vary depending on the lender, type of loan, and the borrower’s creditworthiness, business financials, and collateral. Lenders typically assess factors such as the business’s credit history, revenue, profitability, and industry risk.
Interest Rates and Repayment: The interest rates on business loans can be fixed or variable and depend on various factors, including the borrower’s creditworthiness, the loan term, and the lender’s policies. Repayment terms and schedules also vary but typically involve monthly payments over the loan term.
Collateral and Personal Guarantees: Lenders may require collateral to secure the loan. Collateral can be business assets, such as real estate, equipment, or inventory. In some cases, lenders may also request personal guarantees from business owners, holding them personally liable for loan repayment.
Business Plan and Documentation: Lenders often require a comprehensive business plan, financial statements, tax returns, bank statements, and other supporting documentation to evaluate the business’s financial health and loan repayment capacity.
When considering a business loan, it’s crucial to evaluate your specific financing needs, compare loan offers from different lenders, and carefully review the terms and conditions, including interest rates, fees, repayment schedules, and any additional requirements. Seeking advice from a financial advisor or business loan specialist can provide valuable insights tailored to your business’s circumstances and help you make informed decisions.
An education loan, also known as a student loan, is a type of loan designed to help students finance their education expenses, including tuition fees, books, accommodation, and other related costs. Education loans can be obtained from banks, financial institutions, or government programs specifically designed for student financing. Here are some key points to understand about education loans:
Types of Education Loans: There are generally two types of education loans: private loans and government-backed loans. Private loans are provided by banks and financial institutions, while government-backed loans are offered by government programs or agencies. Government loans often have more favorable terms and conditions, such as lower interest rates and flexible repayment options.
Loan Amount and Eligibility: The loan amount you can borrow depends on various factors, including the cost of education, your program of study, and your creditworthiness. Lenders will assess your credit history, income, and sometimes require a cosigner, especially for private loans. Government loans may have specific eligibility criteria, such as being a citizen or resident of a particular country.
Interest Rates and Repayment: Education loan interest rates can be fixed or variable. Government-backed loans generally have lower interest rates compared to private loans. Repayment typically starts after the completion of your education or after a grace period, which varies depending on the loan program. Some loans offer flexible repayment plans, including income-driven repayment options that adjust the monthly payment based on your income level.
Loan Subsidies and Forgiveness Programs: Some government loans may offer interest subsidies, where the government pays the interest on the loan while you’re in school or during specific periods. Additionally, there may be loan forgiveness or repayment assistance programs available for borrowers who work in certain professions, such as public service or teaching, which can help reduce or eliminate the loan balance over time.
Loan Terms and Conditions: It’s important to carefully review the terms and conditions of any loan you consider. Pay attention to factors such as interest rates, repayment schedules, fees, and any applicable penalties or default consequences.
When considering an education loan, it’s advisable to research and compare different lenders and loan options to find the most favorable terms and conditions for your specific needs. Additionally, it’s crucial to consider your future earning potential and the impact of loan repayment on your finances after completing your education. Consulting with a financial advisor or student loan counselor can provide valuable guidance in navigating the process.
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मार्केट यार्ड, कव्हा रोड, लातूर
info@mnsbanklatur.in
+919146021719
(02382) 257076
पत्ता : मार्केट यार्ड,कव्हा रोड, लातूर
(02382) 249745
मो. 9146021704
पत्ता: विवेकानंद चौक, लातूर
(02382) 258302
मो. 9146021703
पत्ता : नांदेड-लातूर मेन रोड, अहमदपूर
(02382) 264686
मो. 8275453008
पत्ता: मेन रोड, शिरूर अनंतपाळ
(02382) 250726
मो. 9960240929
