Private Finance in Chennai
Leading a pleasant life in this society demands many factors to be satisfied. The list of commitments to be accomplished is high in number.
The biggest question is how to face the commitments? Starting from education, business, building a house, marriage etc everything demands a huge fund.
It will take a lifetime for an individual to earn such huge amount and finally his or her life ends up without enjoying any worldly pleasure.
The simplest way to enjoy your life at the earliest is by getting a loan. But getting a loan is not an easy task. It needs many criteria to be satisfied.
An individual can go for a private finance to handle his or her financial problems. Identifying the best private finance in Chennai is a challenging task.
This article talks about how to locate the best private money lenders in Chennai.
What is Private finance?
For a better understanding of private finance is categorized in to two factors: Personal finance and business finance.
Personal finance is a process that involves financial planning at lowest level. This includes insurance policies, credit cards, market investments, and retirement plans.
Business finance focuses on optimization of business organization. This process includes acquisition of assets. The three levels of finances required by a business are short level, medium level and long term level.
Difference between public finance sector and private finance sector:
Understanding the difference between both public and private finance sector is really tough and here comes the best explanation:
- The public finance sector includes agencies and companies owned by the government whereas the private finance deals with businesses, and companies owned by individual.
- The focus of public finance sector is social benefits whereas for private finance sector is profit
- The beneficiaries of public finance sector are citizens whereas for private finance sectors it is shareholders, and individuals.
Though both private and public finance sector are different from each other, their main focus is to overcome financial scarcity in the society.
Eligibility for getting loans from private finance companies:
The best private financiers in Chennai offer loans to candidates who satisfy the following criteria:
- The company where you work is taken into account. Every private financier in Chennai own databases on companies and categories them according to their credentials. Your chance of getting a loan increases if the credential of your employer is high.
- The best private financing companies in Chennai will check your previous loan history if any. These companies reject your loan application if your EMI crosses 50 to 75% of your net salary.
- You can increase your chance of getting loan by maintaining a better CIBIL score. A better CIBIL score is more than enough for receiving loans from private money lenders in Chennai.
How to get loan from Private loan financier without salary slips or income tax certificate
Every individual is in financial need but not everyone is salaried to be eligible for receiving a loan. In such cases the top private finance companies in Chennai ask for the following documents:
Submit Form 16
If the individual fails to submit the salary slip he has the option of submitting the latest form 16 to prove his or her eligibility.
Alternate source of income
If the candidate is not salaried, he can show other income sources like house rent, income of spouse, bank balance etc.
Private financiers in Chennai also accept collateral submission as eligible criteria. Candidates without any income proof can opt for this while applying for personal loans from best private finance.
Guarantor on board
The applicant can also go for a guarantor while submitting the loan application. Private financier considers the guarantors income as a proof.
How to choose the best private financiers in Chennai:
There are many private financiers in Chennai and finding the best among them is challenging. Everyone seems to be professional.
Fraudulent private financiers prevent to be the best in town asking the applicants to pay some processing fees while submitting the loan application.
Apart from this they also make the individuals to walk into their office several times for no reason. Later they end up stating that the proofs are not sufficient for getting a loan.
In contrary the best private finance companies in Chennai explain you the procedures and the documents required.
On going through the documents they can understand whether the applicant is eligible for a loan or not. In some cases they also provide the alternate method for receiving the loan.
Adroit48 the best:
Adroit48 has proved itself in many sectors like recruitment, real estate, education etc. In addition to it, Adroit48 is also successful in financing sector.
It has helped many individual to overcome their financial problems at very low interest. The time taken by Adroit48 for loan sanction is very low minimum when compared to other private financing companies in Chennai.
Its professional team helps the loan application to submit all the required documents. Moreover they also guide them for on time repayment.
Many individuals have proved themselves with the financial support of Adroit48. Many struggle to prove themselves due to lack of money and Adroit48 lends a helping hand for needy at right time.