Contractorbhai Team : What are your views for Loan Preference for Business Owners or SME i.e. self-employed segment? Loan Expert : Oh , we love SME segment. SME segment is treasured by all banking and non-banking finance institutions. SME is very interesting. Infact online loan application & approval is also very actively done for Business
Contractorbhai team : We often talk when to take Loans. Let’s know when not to take Loans for those looking for Home Improvement Loans? Loan Expert : If the Home owner is a salaried individual, he shall check with his income over expense ratio. Also termed as Income to Obligation ratio. If the Income to
Contractorbhai : What are Interest rates for various loans options to fund Home Improvement? Loan Expert : Home Improvement Loan now comes inform of Personal Loan. The Interest Rate varies with nature of work. Interest Rate for Home Improvement Loan for Salaried Individual ranges from 12.55 - 15.5%. For SME segment (small & Medium Business
Contractorbhai : What is the current trend of Home Improvement Loan? Are they preferred by home owners? What has changed over past 6-7 years? Loan Expert : The trend for Home Improvement Loans (or Personal Loan) is definitely increasing. Today many home owners favor Personal Loans first. During previous generation, our parents use to work
Contractobhai team : What are funding options for Home owners who are planning to renovate their existing home (which is not on loan) ? Loan Expert : First of all let me clarify. Indians have a very preconceived understanding about Loan against property. You have seen old hindi movies in which Hero in family emergency