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Showing posts with label Loan. Show all posts
Showing posts with label Loan. Show all posts

Friday, 22 May 2020

If you think that everyone will get a loan of 2%, then you should also know about this revelation made by the government

AHMEDABAD: The Gujarat government has announced a self-reliant Gujarat Sahay Yojana (aatma nirbhar yojana) for small business owners who have become unemployed in the lockdown. People lined up since yesterday to get the form
 Standing outside the banks planted. There is a misconception about this loan in the minds of the people. The matter has been disclosed. Those who think that everyone will get a loan of Rs 1 lakh should read this news specially. Along with this some other revelations have also been made.

 Death well for patients of Corona Civil Hospital, Ahmedabad, 50% of deaths in Gujarat occurred here

 The state government has made disclosures for self-sufficient loans. Pradeep Vora, Chief Executive Officer, Gujarat State Co-operative Bank, while briefing the state government on the disclosure, said that the bank or the credit society would decide whether to give a loan to a customer only after checking the repayment capacity. The Department of Agricultural Farmer Welfare and Co-operation has informed the people about this. The CBIL report of the customer applying for the loan will be checked. Sibil means Credit Information Bureau India Limited. If there is a defaulter of any other bank or credit society, those people will be less likely to get a loan. The customer who wants to take a loan will have to provide two guarantors. If a customer does not repay the loan, the bank can take legal action against the guarantor. However, as this self-sufficient loan is an unsecured loan, the co-operative banks will face the risk of NPAs in the coming days.

 12 interns of BJ Medical College in Ahmedabad became victims of Doctor Corona

 Be especially aware of these loan rules

 It is divided into four categories based on the occupation of the loan applicant and his ability to repay the loan. The bank will have the power to decide the loan amount of 25 thousand, 50 thousand, 75 thousand and 1 lakh.

 The monthly installment for a loan of Rs. 1 lakh is approximately Rs

 Monthly installment for a loan of 75 thousand is approximately 2625

 Monthly installment for a loan of 50 thousand approximately 1750

 The monthly installment for a loan of Rs 25,000 will be around Rs 875 in May

 Loan holders have to complete the loan within 30 months

 The installment has to be paid from 1st to 10th after the loan is approved

 The state government has now made a number of disclosures after issuing forms for self-help loans. The bank or the credit society will decide whether to give the loan to the customer only after checking the ability to repay the loan. The Department of Agricultural Farmer Welfare and Co-operation has given this information through public notice


Read to Gujarati

Report by zee24kalak
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Friday, 10 April 2020

LIC Loan borrowers! Want to defer payment of EMI? Here is how to do it

LIC Loan Borrowers: If you have availed a retail or a corporate loan from the Life Insurance Corporation of India (LIC) and are in a financial crunch you can defer the loan repayment for 3 months. The facility of loan deferment by three months is being given by banks and financial institutions as per the directions of the reserve Bank of India

LIC Loan Borrowers: If you have availed a retail or a corporate loan from the Life Insurance Corporation of India (LIC) and are in a financial crunch you can defer the loan repayment for 3 months. The facility of loan deferment by three months is being given by banks and financial institutions as per the directions of the reserve Bank of India.

How can LIC retail or corporate borrower use this facility?

This facility is being provided by the state-run ensurer to people who have been economically impacted due to COVID -19. This facility can be exercised by making a request at least 3 days before the due date of installment payment falling due between 01 March 2020 and 31 May 2020 at LIC's web-site - or mail to consent@lichousing.com

In case of Corporate loans, option can be exercised only by the representative duly authorised by the Company/Firm for this purpose.

Interest shall continue to accrue on the outstanding portion of the loan during the moratorium period.

Options before the eligible Borrowers: Borrowers will have 2 options to pay the accrued interest as below:

-- Upfront payment of accrued Interest on completion of moratorium period

OR

-- Capitalise the accrued interest, which will be added to the loan amount outstanding and the same will be recovered by extending the term of the loan. Borrowers making a request as provided in (i) above, shall at the same time can opt for any the two options mentioned above.

Moratorium is only a temporary relief to tide over the economic fallout due to COVID – 19 and not to be construed as a waiver.
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