Tag Archives: documentation

Avail the Benefit of Payday Cash Loan

Cash loan provide immense financial benefits. Cash loan is necessary for every individual to fulfill the financial need. It is simply not possible to avail the benefit of a specific product or service without the help of cash loans.

It is the ultimate desire of every individual to gain the benefit of quick cash loans to satisfy our wants. Cash loan is necessary in case of emergencies and when one is in the need of cash on an urgent basis. Gaining access to cash advance facility enables one to satisfy day-to-day demands like car-repairing bills and hospital bills as well.

Important Considerations

One needs to bear in mind that the pay limit of cash advances is not high. The automatic question that creeps in the mind of every individual is how one can gain the benefit of fast cash loan. It is an encouraging aspect that one does not have to pay a high rate of interest. It is also necessary to pay the interest within a short span of time. Most of the dealers willing to provide cash advance facility do not make it mandatory to submit many documents to avail the benefit. There is least doubt about the fact that quick cash loan is indeed the real need of time. It is the earnest desire of every individual to gain the benefit of payday loans online within a very short time.

Legal Documentation

Legal documentation assumes paramount importance if one desires to opt for cash loan facility. Legal documentation assumes paramount importance as companies can verify whether a loan seeker is eligible for the proposed loan. Legal documentation serves as a real testimony to the fact that the borrower can repay the loan at the appropriate time. Documents that can act as legal credentials include address proof, types of paper and income proof. It is an encouraging aspect that unemployed youths can also avail the facility of cash advance loan. It needs to be clearly understood that cash loans do not strive to sell products and services. Cash loans also assist an individual to gain the benefit of the best deals to make a better decision while surfing.

Home Loans Required Documentation

After deciding to take a home loan for the purchase of your dream home, the first thing to that needs to be consider is the required documentation for getting home loans. If any of the important documents are not submitted then approval of the home loan can get delayed and there can also be chances of application being rejected.

The procedure for getting a loan starts off with the application form filling, before which you should go through bank’s website to know about the required documents. Most commonly the documents asked from an applicant are; PAN card, Passport, Voter ID card, Ration card etc. Additionally, banks have different documentation requirements depending upon:

1. Purpose of loan
2. Applicants category
3. Loan amount
4. Term of loan

Documentation for Salaried People

a. Last 3 months salary slips
b. Updated salary certificate
c. 2 years job continuity
d. Appointment letter
e. 2 years Form 16
f. 6 months bank statement
g. For private limited company employees, company profile

Documentation for Self Employed People

a. Business profile on company letterhead
b. Last 3 years IT returns
c. Chartered accountant certified income computation
d. Last 3 years balance sheet & P/L account
e. Last 1 year bank statement for personal & business account
f. For professionals, professional certificate copy

Documentation for Property

a. Khata certificate
b. Last 13 years EC
c. Latest paid receipt for property tax
d. Last 13 years parent documents & rest link documents
e. Already made payment receipts
f. For old house purchase; seller’s title documents & sale agreement
g. For flat that is newly constructed; construction or sale agreement & on builder’s letterhead break up of total cost

The other important point to keep note of are that banks always make sure that repayments to be made by borrower do not exceed 40% of his net salary & lend about 90% of loan amount. If your repayment record has been poor or had defaults for previous loans then it could be very difficult to get approved for a home loan.