What is procedure to cancel my education loan? As the loan sanctioned but didn't got the amount what I expected, but 1 /3rd of my loan amount is credited to my account . Is it possible for me to apply loan in another bank?
When the loan is sanctioned, all the details are disclosed by the bank in advance. It is only after your agreement to those details is your loan sanctioned. Thus, there isn’t a way for you to cancel the loan at the moment. You should get in touch with your bank and speak to him about your current situation. You might be able to come to some arrangement with them. However, let me warn you, it might involve paying an additional fee to pre-close the loan.If you are looking for extra money, it would be a better idea to apply for a personal loan for the amount that you need. It would not be the same as an education loan, but personal loan is a multipurpose loan and you can use the money for your education related expenses.
What are the pros and cons of getting a personal loan?
A personal loan is cash you get to pay for pretty much anything, for example, your wedding, a fantasy excursion, another PC, doctor's visit expenses, or to combine different obligations.There are two main types of personal loans: secured and unsecured.With secured personal loan, you're required to promise insurance, for example, a vehicle or house, to back up the credit in the event that you don't make installments.With an unsecured personal loan, which is significantly more typical, you don't have to set up any insurance. Unsecured personal loan are otherwise called shopper or signature loans.Pros and Cons of Using Personal Loans:Here are main pros or benefits of using a personal loanPaying a Lower Interest RateGetting Fixed TermsReducing Your Monthly PaymentBuilding creditCons of Using Personal Loans:Continuing to Use Credit CardsHaving Higher Monthly PaymentsSaving Too LittleIf you are looking for Low Interest Personal loans. It is best place. You can get quickly and easily compared to others.I hope this information is helpful and useful to get Personal loans.
How can I get an education loan for my higher studies if my parents are loan defaulters?
If your parents are loan defaulters, it would be hard for you to get an education loan. This is because for any education loan, you need earning co-applicants, and that would be your parents.When someone defaults on a loan, it impacts their credit history very negatively. This means a loan default would also show on your parent’s credit history. Given your parents would be your co-applicants, their credit history matters. Every bank or NBFC checks the credit history of all applicants when looking at a loan application.However, what you also need to take into consideration is how old the loan default is. Even though the loan default would be visible on the credit history of your parents for the rest of their lives, only the credit history of the last 7 to 10 years would matter. If the loan default of your parents is older than that, you still might have a chance to get an approval.What you can do instead if apply for a low-interest Personal Loan, if you meet the eligibility criteria for that. A Personal Loan is a multipurpose loan and can be used for anything you wish for, including paying for your education. Even though it would not offer your the same benefits and perks as an education loan would, it is a good second option available to you, given the history of your parents.
OUTSTANDING BALANCE OF MY MPL PAG-IBIG loan?
Best to contact the Pag-IBIG fund directly. If you are near a local branch office you can call or go to the office, here is a link to a directory of branch offices: http://www.pagibigfund.gov.ph/directory.... If you are not near a branch you can call or email corporate headquarters at: Atrium of Makati Makati Avenue, Makati City Trunklines: (02)811-4401 to 27 connecting all departments Email address is: publicaffairs@pagibigfund.gov.ph Call Center: 724-4244
What are the potential benefits of availing a personal loan? And why should one go for it?
Personal Loan is unsecured loan advanced on the basis of your credit history and ability to re-pay the same from your personal income. It is a multi-purpose loan which you can borrow to meet your immediate needs.Here are few benefits of personal loan:· No security or collateral is requiredBeing an unsecured loan, there is no collateral of any asset required. It is offered on the basis of your credit history and repayment capacity.· Less documentationMany abhor applying for personal loans due to lengthy documentation process. But personal loans are approved with minimum documentation.· Quick loan disbursementThese days it takes few hours for loan disbursement. If bank feels that you have the capacity to re-pay the loan within the stipulated time and need loan for genuine reason then getting personal loan disbursement is easy.· Fixed rate of interest over the tenureRate of interest on personal loan is fixed at the start of the tenure and remains constant throughout. So, it becomes easy for loan applicants to plan for their future EMIs well in advance.· Flexible loan tenure of around 1-5 yearsPersonal loans offer loan tenure ranging from between 1 year to 5 years. So you have flexibility to choose your tenure as per your re-payment plan. Best is to opt for a lower tenure loan and save on the interest outlays.· Easy EMI facility is availableEquated Monthly Installments make the idea of loan simpler. Personal loans too offer easy EMI facilities and help you re-pay the principal amount over the tenure.· It is a multipurpose loanUnlike home loan or car loan, personal loans can be availed to meet almost all aspirations.The benefits of opting for a personal loan are galore. But make sure that you check your eligibility criteria before availing a Personal Loan.
When can i renew my PAG-IBIG loan?
You will have to contact Pag-Ibig directly. If you are near a local branch office you can call or go to the office, here is a link to a directory of branch offices: http://www.pagibigfund.gov.ph/dir.aspx If you are not near a branch you can call or email corporate headquarters at: Atrium of Makati Makati Avenue, Makati City Trunklines: (02)811-4401 to 27 connecting all departments Email address is: publicaffairs@pagibigfund.gov.ph Call Center: 724-4244
Should I go for banks offering lower personal loan interest rates for my existing personal loan with additional top ups?
You can go for top up loan with your existing personal loan. If you go for top up loan then you will get reduce by 1% interest rate and you may get some offers depends on banks and lenders.There are Features Under Top Up LoanQuick Disbursal- A quicker disbursal is one of the best features of a top-up loan. It takes only a few hours to get the loan amount in the bank account. The relationship between the lender and the borrower is not new. So it takes very less time for the verification.ii) Minimal Documentation- A top-up loan is availed from the lender with whom we already have a personal loan. While applying for the first loan, the applicant has to submit all the needful documents. So most of your documents are already submitted to the lender. Furnishing the documents proving present income and liabilities are enough to get the loan sanctioned.iii) Unsecured Loan - A personal loan top up is an unsecured loan. Such loans are collateral free loans, so one doesn't need to put his valuables in line to get the loan.iv) Competitive Interest Rate- The interest rate on top-up loans is less than personal loans. There is a minimum difference of 1% between a personal loan and a top up loan. Top up loans are always cheaper than personal loans.v) Multipurpose Loan - Just like any a personal loan, a top-up loan can also be used for any personal purpose without defending law and order. Either it may be bearing medical expenses or paying outstanding bills on a credit card, a top-up loan amount can be used for personal needs.