Skip to main content


How Do Loans Help?

It can be instrumental when in times of need when people have lesser income or need to purchase something that is out of their budget. There are different ways to borrow the money from a bank, such as gold loan, home loans, personal loans etc. Instead of taking vast amounts of money and borrowing it from your friend or any other person, banks provide this secure facility, with a low-interest rate, which can be paid back quickly. The bank keeps these assets as collateral and then uses it as a principle and the interest to be paid to the bank when the person is not able to pay back.

How Do Loans Work In Banks?

A bank loan is taken when people want to borrow money when they need to purchase something big or cover unexpected expenses. The bank usually gives people credits depending on their ability to pay back. These can be secured, attached to collateral like gold, jewellery, car, or it can be unsecured. The interest may be determined through the person’s credit score, and the monthly payments go to the bank. The bank gets money from four sources, capital from shareholders, from multilateral organisations like IFC and individuals. Deposits and retail deposits from companies and individuals and retained profits which form cash formation.

What Are Home Loans?

These are just among of money borrowed to buy a home or a house/flat or a plot of land for an extension, renovation, repairs to the existing house or construction of a new house, by a financial institution such as non-banking financial institutions or banks. These have fixed or adjustable interest rates and payments. The property is mortgaged to the bank or the lender as a security until the money is paid back with principle and interest. The bank or any financial institution will hold this as collateral until the loan is recovered. There exist some tax benefits under the Income tax act for "Home Loan Offers" such as deduction of income tax on home loans by first-time buyers.

Eligibility For A Home Loan

"Home Loan Eligibility" is determined by your ability to pay back the money with interest, that is, in turn, depended on your monthly income, disposable/surplus income etc., and also includes, your partner’s stability of revenue, income, assets, liabilities etc. the financial institution has to make sure  that you are able to pay back the money lent. With higher monthly disposable income, the higher the money you will be able to borrow. It is necessary to have a co-applicant to the home loan; if two people are the owners for the property, then both the persons will be applicants to the loan.

How To Apply And What Are The Interest Rate Options?

The interest rates can be fixed or adjustable, and lenders make use of the EMI calculator. Various checklist documents need to attach to apply with a photograph such as all the legal documents related to the purchase of the house, and identity proof, and bank-related documents are needed. 


Popular posts from this blog


In India, being a developing country every year many start-ups are launched and operated successfully. There are really a great number of young people who come up with an excellent business ideas every year. But most of businesses fail and the main reason behind it is the lack of funding. Nowadays, banks and other financial institutions become more stringent in the eligibility criteria to sanction a business loan. And to "Make Your Business Loan Successfulyou need to provide a stack of documents to the lender. Then the lender verifies your documents and takes 30 to 40 days to disburse the loan. So the parallel way of business funding is ShubhBank. Our aim is at funding your dying business but our way of functioning is different from other traditional lenders. We provide easy business loans for small and medium-scale enterprises with progressive vision.
ShubhBank have different process of gauging the loan eligibility than traditional banks and financing companies. Lenders d…


Credit Cards epitomize modern lifestyle in terms of convenience a d have emerged as one of the fastest ways of carrying out transactions. Those days are gone when having a magic plastic card and flaunting it among your relatives and friends was a symbol status. With a view to increased acceptance, many banks and NBFCs have been offering various additional rewards and benefits with credit cards. As the cashless transaction becoming more and more common, everyone has a credit card, either a middle class man or a high net worth individual. There are host of card options available in the market having variety of features linked to them. The most popular and reliable ones are entertainment credit cards, shopping cards, fuel cards, cash-back cards, premium cards and business credit cards. They provide rapid access to money anytime and anywhere, so are the handiest asset you can have. They has emerged as viable alternative to currency notes providing access to covering expenses on the go and…


Nowadays, the coronavirus outbreak has affected our lives in countless ways. The deadly virus has made its presence felt in everyone’s personal and professional way such as from shopping groceries, socializing with people or commuting to workplace. It has also a negative impact on the country’s economy leading to widespread layoffs and pay cuts that have taken a toll on salaried individuals. If you are also a salaried employee and facing a loss of income then ShubhBank have stepped in with few options to guide you that how to overcome a money crisis amid "Covid-19 Lockdown". We are happy to help you over this financial crunch by offering Loan against Insurance Policy and online Personal Loan to raise funds.

Online Personal Loan:
many banks and NBFCs have rolled out many personal loan offers for existing customers and who hold salary as well as pension accounts in their financial institutions in this lockdown period. You could also take the advantage of "Online Perso…