Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
IM&OR'AN' AS&EC'S
&arties to the transactions Modes of consu er finance &rocedure for granting 'er s of financing &ur!ose of raising finance (enefits of consu er finance
)IRE &URC)ASE
)ire !urchase eans a transaction +here goods are !urchased and sold on the ter s that 2*!ay ent +ill be in install ent 3*!ossession of goods is given i ediately 4*o+nershi! re ains +ith sellers till the last install ent !aid by buyer 5*the seller can re!ossess the good in case of any default 6*each install ent +ill be treaed as hire charges till the last install ent
RIGHTS OF HIRER
'he hiree -vendor* can not ter inate the hire !urchase agree ent 'he right to re!ossess the goods 'he hirer has a right of receiving a state ent E"cess !ay ent hi ade by the hirer +ill be returned by the o+ner to
4* L!"NS
"#"INS$ LI%& INS'("NC& P!LICI&S In this loan is advanced either in for of de and loans or overdraft as :;< to =6< of the surrender value to be ascertained fro insurance co !any% the !olicy has to be assigned to the ban. at the ti e of ta.ing credit against !olicy%the interest rates +ill vary bet+een 22< to 23< !%a%
))Loan against (*I relief bon+s (an.s and non ban.ing finance co !anies also !rovide loans against the security of R(I relief bonds to the individual in order to eet their !ersonal$business needs and contingencies% the loan is !rovided in for of ter loans or overdraft% 'he ter loan agree ent ay !rovide for the sub ission of9 2* delivery letter 3* transfer deed 4* endorsed bonds 5* de!ository !artici!ant note
Loan against s,ares an+ +ebentures finance is !rovided to the individual of high credit standing against security of fully !aid shares and debentures held by the 8 in their o+n na e8 .e!t in !hysical or de ateriali7ed for %
'er s of financing
'hese include the follo+ing9 2% A ount of loan$credit 3% Margin re#uire ents 4% Security 5% &eriod of finance 6% Rate of interest @% Fees and charges A% Mode of !ay ent :% docu entation
The housing loan can be availed for following purposes: #onstruction E$tension Purchase #om%ined loan for purchase of plot and construction &c'uired house through cooperative housing society
Rate of Interest
Fi$ed rate of interest loan Floating or varia%le rate of interest loan Charges & Fees payable Processing fees Search report charges %y the advocate at the time of sanction Insurance charges Fine for non(payment of late payment of instalments
Educational +oans
The prime aim is to ma-e careers happen! The no! of students see-ing admission to professional courses is multiplying every year! If one has the am%ition and drive, the %an-s "ill ta-e care of finances involved!
Eligi%ility #riteria
Should %e an Indian national *elongs to the age group of ./(01 years Has secured admission in a professional technical course, foreign university institution Should have secured minimum /12 mar-s in the previous 'ualifying e$amination
O%3ectives of finance
To finance all fees To meet e$penses To provide financial assistance To cover course fee, hostel and mess charges
Processing fees
S*I, #*I, *O* 4 do not charge any fees HS*# and *an- of Pun3a% 4 .2 of the loan
Repayment Period
5 (6 years repayment after commencement of
&utomo%ile Finance
7nder the %an-s auto loan scheme there is a vehicle loan for every class i!e! 8 "heeler9s loan, 8nd hand car loans, ne" car loan! The mar-et for auto loans is large and lot of opportunity e$ists there for the %an-s and other finance companies "ho %y adopting customer friendly policies and mass advertising can surely ma-e auto loan scheme a success!
Eligi%ility
Permanent employees of govt!, pu%lic private sector "ith minimum of :years service! Professionals and self employed such as doctors, #&Ss, ,*&s etc! Persons engaged in agricultural and allied activities!
Purpose
&uto loans are e$tended for the purchase of vehicle %oth for personal and professional use! Type of loan Finance is provided in form of term loans e$tending for a period from . to 5 years! Rate of interest ;aries from %an- to %an-
Insurance
& insurance policy is ta-en for mar-et value or .12 a%ove the loan amount "hichever is higher! Processing Charges ,ost of the %an-s do not charge any processing fee, or Rs! 851 to Rs! 511 may %e collected as one time fee from the customers!
Personal +oans
General purpose loans are advanced to the individual to meet personal e$penses! Thus, "ith such easy finance facility, a consumer can %uy "hatever he has in mind!
Eligi%ility #riteria
Salaried employees Self employed professionals such as )octors, #&s, ,*&s, etc! oan amount ,inimum 4 Rs!85111 ,a$imum 4 Rs! .1,11,111
Other features
<o security or guarantor re'uired Repayment period .8 to 0= months Speedy approval
Eligi%ility #riteria
Employees of govt! Profit ma-ing Pu%lic institutions! Etc! "ith a minimum of 8 years service! Self employed persons Persons having regular source of income from verifia%le sources li-e pension and interest from govt! securities etc!
Holiday Finance
Today, consumer "ho finds himself una%le to meet the cost of pac-age gets ready to accept the option! For e$, SOT#9s European tour pac-age is priced at over Rs!6/,111!
Than-(>ou