Pre approved loans

Q: What are pre approved loans ?

Niketan Verma, Bangalore

6th February 2013

Home Loan in Bangalore

pre-approved loans

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no loan is sanctoned with submitting property documents for legal check. it is pre-approved based on income but additionaly one needs to give property details for which one take loan

Loan Assist,

8th February 2013

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Loan Assist,

8th February 2013

The offer is usually from banks with whom you interact.
The eligibility criteria has to be met
The offer has a time limit.
Approval comes only after checks.
Costs are similar to other loans.
The processing time is less

Neeraj Rao,

8th February 2013

Comment

Pre-approved loans are generally of two types, unsecured and secured.” The unsecured category is mainly personal loans and credit cards. In the second are car loans, even home loans. Whatever be the type of loan, the in-principle agreement is to extend it to you, provided you accept it and fulfil certain criteria.

Lewin G,

8th February 2013

Comment

Pre-approved loan is a better deal as far as interest goes, compared with the rates in the open market. For example:if your bank’s interest rate for a personal loan is 16.50 percent per annum for a personal loan in the open market in pre approved loan banks offers you a pre-approved loan at 15.75 percent per annum, you save good amount of money.

Venugopalan, Bangalore

8th February 2013

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What are the advantages of the pre approved loans?

Niketan Verma, Bangalore

8th February 2013

Comment

Pre approved loan is option for clients getting loan before finalizing the property. Banks will consider your income (Salary slips, CTC, Form 16, ITR, Employment verification, etc.,) & sanctioned the loan amount. You will have 180 days validity for that sanction. before 180 days you have to go for disbursement.

Rakesh, Bangalore

8th February 2013

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