Loan balance transfer Loan at Shree Krishna Finance Raipur
Shree Krishna Finance offers personal loans in Raipur with several benefits that cater to the needs of borrowers. Here are the advantages of applying for a Loan balance transfer Loan from Shree Krishna Finance:
No Collateral Required: Shree Krishna Finance provides unsecured loans, eliminating the need for collateral or guarantors. This simplifies the loan application process.
Digital Documentation: The entire loan application process is paperless, saving you time and effort. You can complete the application online, making it convenient and hassle-free.
Low Credit Score Loans: Shree Krishna Finance considers applicants with a minimum CIBIL score of 600, making personal loans accessible to a wider range of individuals.
Flexible Tenure Options: You have the flexibility to choose a loan tenure ranging from 12 months to 60 months, based on your eligibility and repayment capacity.
Affordable Interest Rates: Shree Krishna Finance offers competitive interest rates, starting from as low as 1.33% per month. This ensures that your loan is more affordable and manageable.
Flexible Loan Amount: Depending on your eligibility, you can borrow a loan amount ranging from Rs. 5,000 to Rs. 5 lakh, allowing you to meet your specific financial requirements.
Quick Eligibility Check: Shree Krishna Finance provides a quick eligibility check on their website, allowing you to determine your eligibility for a personal loan within just 2 minutes.
24-Hour Disbursal: Once the loan agreement is signed, and auto-debit is activated, you can expect to receive your loan amount within 24 hours in most cases, ensuring swift access to funds.
By offering these benefits, Shree Krishna Finance aims to provide a seamless and efficient personal loan experience to the residents of Raipur.
Eligibility For Balance Transfer Loans
Home loan eligibility is primarily dependent on income and repaying capacity. Other important factors include the customer’s profile, age at loan maturity, age of property at loan maturity, investment and savings history etc.
| Important Factor | Criteria |
|---|---|
| Age | 18 - 70 years |
| Profession | Salaried / Self Employed |
| Nationality | Resident Indian |
| Tenure | Up to 30 years |
Classification Of Self Employed
| SELF-EMPLOYED PROFESSIONAL | SELF EMPLOYED NON-PROFESSIONAL (SENP) |
|---|---|
| Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Engineer, Company Secretary etc. | Trader, Commission Agent, Contractor etc. |
How does adding a co-applicant benefit? *
*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.
| Maximum Funding** | |
|---|---|
| Loans up to and including ₹30 lacs | 90% of the property cost |
| Loans from ₹30.01 lacs to ₹75 lacs | 80% of the property cost |
| Loans above ₹75 lacs | 75% of the property cost |
Documents
For loan approval, you need to submit the following documents for applicant / all co-applicants along with the comple
ted and signed home loan application form.
KYC DOCUMENTS
INCOME DOCUMENTS
DOCUMENTS FOR A BALANCE TRANSFER LOAN
OTHER REQUIREMENT
KYC DOCUMENTS
| A | Sr.No. | Mandatory Documents | ||
|---|---|---|---|---|
| 1 | PAN Card or Form 60 (If the customer does not have a PAN Card) | |||
| B | Sr.No. | Description of Officially Valid Documents (OVD) that can be accepted for establishing the legal name & current address of Individuals*[Any one of the following documents can be submitted] | Identity Proof | Address Proof |
| 1 | Passport, the validity of which has not expired. | |||
| 2 | Driving license which has not expired. | |||
| 3 | Election /Voters identification card | |||
| 4 | Job card issued by NREGA duly signed by the officer of the State Government | |||
| 5 | Letter issued by the National Population Register containing details of name, address. | |||
| 6 | Proof of possession of Aadhaar Number (to be obtained voluntarily) |
INCOME DOCUMENTS
| Document | Salaried | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
| Last 3 months' Salary Slips | |||
| Last 6 months' Bank Statements, showing salary credits | |||
| Latest Form-16 and IT returns | |||
Income Tax Returns along with computation of income for at least the last 2 Assessment Years (of both the individual and the business entity and attested by a CA) | |||
At least Last 2 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA) | |||
Last 12 months' Current A/c Statements of the business entity and Savings Account Statements of the individual |
DOCUMENTS FOR A BALANCE TRANSFER LOAN
| Document | Salaried | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
A letter on the letter head of the existing lender stating the list of property documents held by them | |||
Latest outstanding balance letter from your existing financial institution on their letter head | |||
Photocopy of the property documents (including Own Contribution Proof) |
OTHER REQUIREMENTS
| Document | Salaried | Self Employed Professional | Self Employed Non Professional |
|---|---|---|---|
| Own Contribution Proof | |||
Employment Contract / Appointment Letter in case current employment is less than year old | |||
Last 6 months' Bank Statements showing repayment of any ongoing loans | |||
Passport size photograph of all the applicants / co-applicants to be affixed on the Application form and signed across. | |||
Cheque for processing fee favouring HDFC Bank Ltd | |||
Business Profile | |||
Latest Form 26 AS | |||
List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company | |||
Memorandum and Articles of Association of the Company | |||
Partnership deed in case of the business entity being a partnership firm | |||
Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc. |
Fees and Charges for Loan balance transfer Loan from Shree Krishna Finance
When you think about applying for a Loan balance transfer Loan, the most important thing is the interest rates and the other fees involved. Check out this table to know more-
Housing Charges
PROCESSING FEES & CHARGES
| Name of the Product/Service | in Rupees |
|---|---|
| Fees for Resident Housing Loan/ Extension/ House Renovation Loan/ Refinance of Housing Loan/ Plot Loans for Housing (Salaried, Self-Employed Professionals) | Upto 0.50% of the loan amount or Rs. 3000/- whichever is higher + applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 3000/- +applicable taxes/statutory levies whichever is higher |
| Fees for Resident Housing/ Extension/ Renovation/ Refinance/ Plot Loans for Self Employed Non-Professionals. | Upto 1.50 % of the Loan amount or Rs. 4500/- whichever is higher+ applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 4500/- +applicable taxes/statutory levies whichever is higher |
| Fees for NRI Loans | Upto 1.25% of the Loan amount or Rs. 3000/- whichever is higher + applicable taxes / statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or Rs. 3000/-+applicable taxes/statutory levies whichever is higher |
| Fees for Value Plus Loans | Upto 1.50% of the Loan amount or Rs. 4500/- whichever is higher + applicable taxes / statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or Rs. 4500/-+applicable taxes/statutory levies whichever is higher |
| Fees for Loans under HDFC Bank Reach Scheme | Up to 2.00% of the loan amount+ applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 3000/-+applicable taxes/statutory levies whichever is higher |
| Re-appraisal of loan after 6months from date of sanction | Rs. 2000/- + applicable taxes / statutory levies.
|
CONVERSION FEES
| Name of the Product/Service | Amount in Rupees |
|---|---|
Switch to Lower Rate in Variable rate Loans (Housing/ Extension/ Renovation) | Upto 0.50% of the Principal Outstanding and undisbursed amount (if any)at the time of Conversion or a cap of Rs.50000/-+applicable taxes/statutory Levies which ever is lower. |
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/Extension/ Renovation) | Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap of Rs.50000/- + applicable taxes / statutory levies whichever is lower. |
Switch from Combination Rate home loan fixed rate to Variable rate | 1.75% of the Principal Outstanding and Undisbursed amount (if any)+ applicable taxes / statutory levies at the time of Conversion. |
Switch to Lower Rate (Plot Loans)- Variable Rate | 0.5% of principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of Conversion. |
Switch to Lower Rate (Loans under HDFC Bank Reach)- Variable Rate | Upto 1.50% of the principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of conversion.
|
MISCELLANEOUS RECEIPTS
| Name of the Product/Service | Amount in Rupees |
|---|---|
Cheque/ACH/SI Dishonor Charge | Rs. 300/- Per Dishonor. |
Photocopy of Documents | Upto Rs. 500/- + applicable taxes / . statutory levies |
Fees on account of External Opinion – such as legal/technical verifications. | As per actuals. |
List of documents | Upto Rs. 500/- + applicable taxes / statutory levies. |
PDC swap | Upto Rs. 500/- + applicable taxes / statutory levies. |
PRE-MATURE CLOSURE/ PART PAYMENT
| Name of the Product/Service | Amount in Rupees |
|---|---|
A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest | For loans sanctioned to individual borrowers with or without co-applicants, no prepayment charges shall be payable on account of part or full prepayments made through any sources* except when the loan is sanctioned for business purposes**. |
B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest | For all loans sanctioned with or without co-applicants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies of the amounts being so prepaid on account of part or full prepayments except when part or full prepayment is being made through own sources* |
Non-Housing Charges
LOAN PROCESSING CHARGES
Loan Processing Charges*
Maximum of 1% of loan amount (* Minimum PF of Rs.7500/-)
PRE-PAYMENT /PART PAYMENT CHARGES
Pre-Payment /Part Payment Charges
No prepayment charges shall be applicable for part prepayment once during a financial year only if the amount being prepaid does not exceed 25% of the principal amount outstanding at the time of such prepayment.
2.5% + Goods and Services Tax (GST) of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount in excess of said 25%.
PREMATURE CLOSURE CHARGES
| Premature closure charges | |
|---|---|
Floating rate term loan availed by Individual borrowers for Business Purpose | 2.5 % of the Principal Outstanding |
Floating rate term loan availed by Individual borrowers for End Use other than Business Purpose | NIL |
Floating rate term loans availed by Micro, Small Enterprises and Closure from Own Source* | NIL |
Floating rate term loans availed by Micro, Small Enterprises and Closure Through Takeover by any financial Institutions | 2 % takeover charges of the Principal Outstanding |
Floating Rate term loans availed by Non Individual borrowers* | Maximum of 2.5% of the Principal Outstanding. |
Delayed Instalment payment Charge | A maximum of 18% P. A. on overdue instalment amounts. |
Payment Return Charges | Rs 450/- |
Repayment schedule charges* | Rs. 50/- per instance |
Repayment mode change charges* | Rs. 500/- |
Property Document Retention charges | Rs. 1000 per calendar month, after 2 calendar months from date of closure of all loans/facilities linked to the collateral |
Revision in spread | 0.1% of Principal Outstanding OR Rs. 5000 whichever is higher Per proposal |
Legal/Repossession & Incidental charges | At actuals |
Stamp Duty & other statutory charges | As per applicable laws of the state |
Conversion charges for Change in Reference rate (BPLR/ Base rate/MCLR to Policy Repo Rate (for existing customers) | NIL |
Penal Interest for Non Adherence of ESCROW Account (as per sanction terms and conditions) | 2% p. a additional on existing ROI (Applicable in LARR cases only ) |
Penal Interest charged for non-complying with sanction terms | 2% per annum additional on existing ROI- (Charged on monthly basis) |
CERSAI Charges | Rs. 100 for each property |
Property Swapping / Partial property Release* | 0.1% of the loan amount. |
Document Retrieval charges post Disbursement* | Rs. 75/- per document set. (Post disbursement) |
How to Apply for a Personal Loan
Applying for a personal loan from Shree Krishna Finance in Raipur is a straightforward process. Here are the steps involved:
Step 1: Check Eligibility:
Visit the Shree Krishna Finance website and provide the necessary details to check your eligibility for the loan. This process usually takes just 2 minutes.
Step 2: Select Loan Tenure:
Once you are eligible, choose the desired loan amount and select a repayment tenure that suits your needs from the options provided.
Step 3: Upload Documents:
Upload the required documents as specified by Shree Krishna Finance.
Step 4: Amount Disbursed:
After your documents are verified and the loan agreement is signed, Shree Krishna Finance will disburse the loan amount into your bank account. In most cases, you can expect the funds to be credited within 24 hours.
Equerry Form
Please Fill out the Form Below
For More Details Contact With Us
For more details and further inquiries, please don’t hesitate to contact us. Our dedicated team at Shree Krishna Finance is here to assist you and provide the necessary information you need.
Frequently Asked Questions.
- The applicant’s age should be between 21 and 57 years.
- Income should be credited directly to their bank account.
- Minimum monthly income requirement is Rs. 13,500 for salaried individuals and Rs. 15,000 for self-employed individuals.
- CIBIL score should be above 600 or Experian score should be above 650.
You can check your eligibility within 2 minutes by visiting the Shree Krishna Finance website and providing the required details.
No, Shree Krishna Finance provides unsecured loans, so no collateral or guarantor is required.
- The loan amount ranges from Rs. 5,000 to Rs. 5 lakh, depending on your eligibility.
- You can choose a loan tenure from 12 months to 60 months, based on your eligibility and repayment capacity.
Once your documents are verified and you have signed the loan agreement, the loan amount is typically disbursed within 24 hours.