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Retail Asset Product

 

Financial Institution provides different types of product on the basis of customer’s requirement. Retail Asset Product is mainly given to the individual customer as per the customer requirement and the eligibility of the customer.
 

Home Loan:

 
In today’s world, no need to wait till half of your career or till retirement for buying a home, we know some of our friends who have purchased flat/house in early of their career even at age of 25-26 years by availing Home Loan. Presently maximum banks and NBFC are offering Home Loan at reasonable rate of interest; just you need to fund 20% of the property value and balance amount by taking Home Loan and repays EMI month on month basis.

There are few benefits of Home Loan like 1) Buying a property at early of career by availing Home Loan, your loan will be cleared in between age of 45-50 years. 2) You will get Tax Benefit on both repaying principle and interest, 3) If you already have parental house, you can start creating a asset from early of your career by availing a Home Loan, the property will give you huge return in long run.

Home Loan is a secured product in nature where Original Property Documents are held with Bank who has funded to purchase the property. After repaying whole loan amount, bank hand over the Original Property Documents to the customers. Since it is a secured loan and directly related to growth of the country, the rate of interest is lowest among all the loans.
Bank/NBFC offers different kind of product under Home Loan like Traditional Home Loan, Home Loan with interest saver etc. Hence Home Loan is one of the successful products in retail segment.
 

Loan Against Property (LAP):

 
You have a free property, it may be residential or commercial, you can avail a loan on those property by mortgage the original property paper to bank/NBFC. Presently this product is very popular in market and rate of interest on LAP is low. Bank/NBFC offers different amount of loan on the basis of nature of usage of the property.
 

Auto Loan:

 
If you want to purchase a car, banks and NBFCs are ready to provide the loan to you. Purchasing a car is very easy now a day, no need to do anything. Representative of Bank/NBFC are always seating at Showroom/Dealer Point and they will guide you for availing Auto Loan. Bank/NBFC will create hypothecation charge on your finance car. Auto Loan is also a secured loan.
 

Two Wheeler Loan:

 
Two wheeler loan is also like a Auto Loan, it is only the product is different. Two wheeler loan is given for purchasing of new two wheeler and bank/NBFC create hypothecation charge on the finance two wheeler.
 

Gold Loan:

 
Presently the one of the focus product of any bank/NBFC is Gold Loan, since there is zero delinquency in this product and easy to liquidate from gold to cash for a delinquent account. Gold Loan is given on gold jewelry and ornaments. Bank provides loan 70%-80% of gold value.
 

Auto Refinance:

 
Auto Refinance is a product where the customer avails cash loan on a free car by way of hypothecation in favor of bank/NBFC. It’s also called Used Car Loan.
 

Personal Loan:

 
Personal Loan is very well known product to the retail customer. Any individual/firm can taken personal loan for his own personal uses. Financial institution grant personal loan to its customer on the basis of few documents like KYC, Financial Document, Bank stat etc. It is an unsecured loan but in recent time few financial institutions are taking partly collateral like LIC, FD, property, land etc depending on the customer’s requirement and customer’s financial strength.