What if we at SAVENSA Business Solutions Pvt. Ltd. could guide you in a way that you can enjoy both, living a stress free life as well as planning for a secure upcoming time? If your answer is yes, then you should ensure that you follow these steps below.

Use our EMI Calculator – we make it easy afterall!

Handling heavy calculations and numbers can be tedious task. We made it simple for you. Go to www.savensa.co.in/emi-calculator.html – enter your loan amount, tenure and interest rate. We give you a complete breakup of your loan EMI, total interest amount and total amount to be paid overall to your bank. If you still find it tough to get your head around these numeral figures, we also represent the same data in a pie chart format, to be able to understand the calculations in a fun way.

It’s essential to know what you are getting into, and this simple step can save you years of financial load.

Don’t miss your due date

PLAN. Plan your finances in such a way that you save up your X amount of money that you have to transfer to you bank. Missing these due dates is definitely not a good idea. This will have a considerable impact your credit score.

This will have an important role to play in your future finances and loan requirements. Right from your credit card applications to your travel plans, everything falls like a dominos with this one thing.

Go for higher EMI to lower your stress

You might be thinking “What did I just read?”. But think about it. If you recently got a promotion, you are at a position to pay a higher amount for your EMIs.

So increase the chunk of money you pay the bank, reduce your tenure, hence, in a bigger picture – the total payment that you make in an actual sense reduces a lot lesser. You will not get a feeling that you’re working endless hours just to repay these loans. You’ll actually live the moments of your life stress free!

You can also pre-pay your loans partially

Continuing our point 3, prepaying loans beforehand is another practice you can follow. This can happen when you receive a heavy amount at one stop, pay this off to the bank.

Benefit? Positive credit score and reduction of tenure. Some banks charge a minimal rate of partial pre-payment of the loan, which you can inquire with your concerned bank at the time of payment.

Smart investments

Even if you end up with just ₹ 2000 left before your payday, invest it. Make it a practice it save this amount as a minimal every month. Opt for the ones with a healthy interest rate. There are lot of players in the market who would give you peanuts for the money you give them. Choose wisely Invest small amounts first, get a hang of how the system works and go big.

For anything and everything else, please know we are just one call away.

Feel free to call us on 8296 11 6666.

www.savensa.co.in is a platform where you get to avail yourself of loans from top banks/NBFCs with just one click. Our strong partner relations with some of the top banks in the industry allow us to help you expedite your loan application and the entire process that comes after. We make it as easy as 1-2-3!

Our platform offers 3 different kinds of loans – Personal loans, Business loans and Doctors loans.

We mean it when we say it’s a one-stop solution for all your loan needs. Once you are on our web platform, all you need to do is choose the kind of loan you are looking for – compare your options with 20+ top banks/NBFCs – apply hassle-free once you decided and if you still feel confused, we’ll call you right back and help you decide the best for you.

And as we always say, don’t forget to calculate your EMI with our very own EMI calculator here: savensa.co.in/emi-calculator before applying. It always helps!

Wait, there’s more! Our one-stop solution isn’t just limited to you comparing and applying for the most suitable loan. Customer support is what matters to us the most and for that, we leave no stone unturned. Once you have compared, decided and applied for your choice of loan from the top banks we give doorstep assistance to make the process quick and easy for you. We take care of your entire loan process from application to disbursal.

We make it Easy! It as Easy As 1-2-3! Don’t we?

For anything and everything else, please know we are just one call away.

Feel free to call us on 8296 11 6666.

First and foremost pre-requisite before you apply for any loan is to check your credit scores. This report will show intricate facts and minute details like poor loan repayment history as well.

Careful practices such as timely EMI payment, not maxing out the credit limit, frequent credit reports, clear previous loans as much as you can before taking a new one. Not just this, applicants also get rejected of loans because of the co-signer’s credit score, so be mindful who you chose as your co-signer!

Under-age?

Not commonly enough so far, but loans get rejected if you don’t qualify their minimum age bar. Generally loans are available for people who are at least 18 years of age, but its always advisable to check the details of the loan applications.

History of income source

Not just age, these applicants also get rejected if the lender feels there’s no stable source of income. Checking of bank statements, salary deposits, how often the applicant switches jobs, everything matters!

At the end of the day, everyone wants their money back of course, lenders are very very careful of whom they lend money to. The requirement is usually at least a total of 1-2 years work experience, and 6 months in the current company.

Verification

Speaking of how careful the lenders are of lending money, there’s a check on field – your residential area. A quick inquiry and background check before they actually sanction the loan amount to you.

Any negative remark can actually hamper your application and the relationship with the bank till some extent, as they’ll have it on record as to why you were denied of the loan the last time.

Too many cards can be a problem too

Surprisingly enough, even if you have the capability and the income to repay the EMIs of your new loan that you’ve applied for, the bank can still reject your application if they don’t feel that you can actually repay the money back to them.

Even if you are shelling out half of your salary in loans and you can still manage your way out of it, chances are that your application will never be able to go to the final stage.

Minimum balance charges and bouncing cheques

As mentioned earlier, and a commonly known fact, that a bank account statement of six months to an year has to be submitted (also depends on the type of loan being taken too).

Banks charge a fee towards accounts which fail to maintain the minimum balance. No matter how minimal these fees might be, it has a deep negative impact on the credit score. Cheque bounces are a big no no too. Insufficiency of funds and rampant usage of cheques and credit cards, banks cautiously stay away from applicants with such conduct.

The question that might be arising in your head now is, how can you predict these before hand? How can these roadblocks be avoided?

With SAVENSA Business Solutions Pvt. Ltd. availing loans has become a lot easier for borrowers especially in Bengaluru and Mysuru. Not all problems can be avoided, but yes we provide door step assistance for top banks, NBFCs and loan providing companies we work with, which includes Bajaj Finserv, HDFC Bank and Axis Bank.

We guide you through every step and detail while applying for personal loans, business loans, doctors loan etc. We simplify the process. And, make you credit confident within minutes. With over 18,000+ happy customers, we are happy to announce that we have maintained a consistent track record of average loan disbursement of 3 days! Our financial services & solutions are designed keeping your needs in mind. We often get feedback about making our customer’s life simple and hassle free as we facilitate loan process well with a quick query response time. Availing loans is now as easy as 1 – 2 – 3 with SAVENSA Business Solutions Pvt. Ltd.

For anything and everything else, please know we are just one call away.

Feel free to call us on 8296 11 6666.