PROJECT LOAN

Personalized Service: We only follow your profile and your requirement to well knowledge vendors who understand your profile and give you best.

Detailed Inquiry Form: We have prepared two types of inquiry form which helps you to take decision about your loan process. Our detailed application form submitted to our expert analyst and then result it within 24 hours. So you can easily know your eligibility, loan probability, and offers also.

Best Analyst – Zatpat loans has best analyst team which is highly educated, many years experienced and well knowledge of all bank policies. It helps you to platform your profile at right way.

Latest Offers – Zatpat loans updates immediately all new schemes running from all banks. So it is easy to choose best rate loan from all banks.

No consulting Charges – Zatpat loans itself and all vendors who are related to Zatpat loans do not take any consulting charges from customers.

Doorstep Services – Zatpat loans gives you doorstep services for all products from all banks. Vendor will come to you place from application to disbursement process. So it is easy to get best without investing time.

All Bank Offer At One Time – Every BANK and NBFC have different interest rate for different salary and profile. Zatpat loans give you the right platform where all bankers offer his best to particular profile. So it is for customer to select best option with best scheme.

Helpline – Zatpat loans has a customer care team and a virtual number who helps you take advice about loan and also help to increase your credit profile.

Stop Frauds – Some time customer are being part of fraud from vendors and of some executives. Zatpat loans give you surety of fraud free loans.

Current Project Loan Interest Rates in India:

You have various options to get project loan. Each bank has different interest rates different tenure and different loan amount criteria. The project loan amount and rate of interest is dependent on customers profile like working company, take home salary, Average bank balance, designation, Cibil score etc. Every banks give project loan on base of multiple of net take home salary. Multiple are minimum 7 and maximum 18 times of net monthly take home salary.

Balance Transfer Scheme:

If you want to release your current burden of high interest rate or don’t want to take multiple EMI burden for new loan and also required best rate compare to your older loan than Balance transfer scheme is the right option for you. Some banks are giving best scheme for balance transfer like they are offer higher loan amount, lower interest rate than the existing loan and lower processing fees. By this way you can get new loan and keep only one EMI even though you have get new funds.

Special Scheme:

Each and Every bank and NBFC have some special policy for project loan. They are offering on different surrogates, hence you will be eligible for new loan even you are over leverage. Most of the banks are every month announce new scheme in Loan amount, Processing Fees, Interest Rate etc. So when you get right scheme it is better to take immediate apply and choose the right bank.

Difference with Pre Payment Loan and Normal Loans

There are various offers in market who offers normal loans and with facility of pre payment with nil charges. There is always difference in rate of interest offered by normal loan banks and nil for closer pre payment loans. You should have to decide first your purpose of your loan, your repayment capacity, your saving planning, your extra income like incentive and then after you have to decide that are you able to do pre payment before the tenure or not. If first you clear your perfect concept of loan then you can do best deal.

Difference between Flat Rate and Reducing Rate:

Major customer does not understand what is difference between flat interest rate and reducing interest rate? There is only calculation difference between flat interest rate and reducing interest rate. If you go for the flat rate then reducing will be Flat rate * 1.75 Example if your flat rate is 10% yearly then your reducing will come 10% * 1.75 = 17.5% reducing yearly. Both are same but some people misguide customer with flat and reducing interest rate.

Project loan is always done timely if you are perfect with your documentation for project loan. Always go for loan with perfect and total documentation so that you will get login timely, perfect communication with bank and result between the expected times. If you not provide complete document timely or delay it then because of part documents you will not get to login in bank and if get logged in bank then does not get perfect result.

If you are not getting surety for rate of offer or approval of project loan then always goes for multiple option at the time so you can get best out of them without wasting your time.

The necessary documents required for project loan are as below. When you submit it then first verify your agent that particular proof is valid or not. Always provide documents as per below or as per current requirement because bank changes in their policy anytime as per then internal policy.

Documents for Project Loan

General Documents

1. Id Proof
2. Address Proof
3. Income Proof of the applicant & co-applicant
4. Last 6 months bank A/C statement
5. Passport size photograph of the applicant & co-applicant
6. Project Report (If project is ready)

Project loan process is divided in 5 steps. By following all 5 steps you will get best loan as per your requirement. If there is any problem with your loan then your application will stop on related stages and its shows current status. Every stage result you that its stop or in process. Understand clearly all the stages so it is easy to take project loan.

Stage 1: Enquiry – Take Advise – Compare – Select

When you have choose this platform to compare all banks and financers then always try to attend all calls and talk with all financers. Do not irritate by lots of call but share your choice, your demand, your purpose, loan amount, profile with every bank and financer. Its helps you to take decision about your loan and helps you to choose right option. If you have any negative points then also share it with vendors so they will show you the right way. It is better to choose option who suite to your profile and advised by majority consultants.

Stage 2: Documents Sumiton – Application Form – Apply

Firstly choosing right option prepare all required documents and once verify with your lender and if there is some documents pending arrange it on priority bases. Verify that all documents are enough as per bank policy or not. Sign application form properly.

Stage 3: Application alert – Query – CIBIL

When you submit your application completely to the bank then you will get one SMS with application number from respective bank. You can follow your status by this application number online. Major Banks does not login if there is any query in your application so try to complete your document. After login please ask your lender about CIBIL and query. If there is any problem with your CIBIL your application will reject with this stage. If there is any doubt query in CIBIL your application will hold for query. If there is no query then your application will move for next stage of verification.

Stage 4: Verification – Personal Discussion

After completing 3rd stage your application moves to verification stage. Verification agencies representative will visit your office and resident and collect detail respecting you and submit it to bank. Besides Some bank Credit offices do telephonic project discussion about your application and some bank credit officers personally visit you for project discussion. They try to know your profile, your attitude, your loan purpose, your credit history, your financially stability etc. After getting project discussion if credit manager feel any doubt then he will reject your loan or ask for query. If he satisfied with profile then your application will move to final stage.

Stage 5: Loan approved – Sanction offer – Agreement – Disbursement

After cleared all above four stages your application will moved for approval and meanwhile you will get approval from bank. After getting approval customer has to do agreement with bank and submit security deposit cheque in favor of bank name. Once your agreement completely submitted to bank then within 48 hours you will get RTGS in your account of DD from respected banks.

If you are going for business loan please follow best tips from Zatpat loans advisor.

1. Always get quotation from multiple vendors and multiple banks then analyst it and select what is best
2. Always try to hear all vendors particularly so from that you can something new which you don’t know
3. Don’t hide your negative points from vendors because it helps you provide right option
4. Discuss your all credit history with vendors so it is give you perfect results without rejection
5. Don’t make rude attitude to vendors because it makes your relation temporary and not profitable to you.
6. Always prepare your all documentation and also security cheques before you apply for business loan. It saves your time.
7. Be in touch with your vendors till you get particular status about your loan application
8. Follow Application number on bank’s website. It will keep you in track.