Eligibility Calculator for All

There are many people in this country that do not know what are the interest rates prevailing in the market, and get confused about the kind of loan products that are available with the banks. So, now there is nothing to worry as there are a lot of tools available on the internet, that can make you aware of the rate of interests of all the banks and you can also compare the bank which is offering the best interest rate. With this it reduces the chances of you being misguided by any person. Other than the rate of interest rates that are being offered by the banks these calculators can also tell you about whether or not you are eligible to apply for a specific loan product offered by a particular bank. You just have to enter all your details which includes your bio data and you will get to know if you can get a particular loan especially a personal loan sanctioned or not. Those tools, that helps you to know whether you are eligible to get a personal loan or not are known as a personal loan eligibility calculator. These calculators have become a boon for the people who had no knowledge of what all are happening in the banking sector and how does it affect the loan industry as a whole. There are even other kinds of tools that are available on the internet that can calculate a person’s monthly EMI.

This a great feature that has been included in the calculator. One can even calculate their equated monthly instalment on excel as well if he or she has a good knowledge of how to work on a computer. So, there are many tools that are available through which our purpose of knowing whether we can get our loan amount sanctioned from a particular bank or not. Today, in the times of inflation it has become very difficult for a person to get a loan for themselves. This is because the rate of interest that the banks are offering these days are quite high, which has made it tough to get your loan application sanctioned from the banks. The Reserve Bank of India is showing no signs of respite, and has an intention of increasing the key rates again, so as to bring down the growing inflation in the country. With the elections coming up the situation has become even trickier, as the Government wants to give loans at a lower rate of interest but it is not possible for the banks as the inflation is rising and because the Reserve Bank has increased the key rates the banking industry is facing a liquidity crunch. So, the situation is quite confusing of whether the interest rates are going to rise or they are going to be reduced by the banks on the request of the government. The banks that are funded by the government are offering loans at a lower rate than the private banks, but they have made the eligibility criterion stern.

Author

Mr. Tejinder Singh is the owner of the website www.propertiesandloans.com. This site provides all the information that is related to the HDFC housing loan, home loan in Delhi, etc. for more details visit the website.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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