This Festival of Colours, Burn Financial Worries with 5 of mymoneymantra’s Products

Updated on: 17 Jan 2024 // 4 min read // Business Loans // Credit Cards // Home Loans // Loan Against Property // Personal Loans
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At the onset of spring, a myriad of colours fills the world around us. As does Holi, the Festival of Colors. All your worries seem far away when you light a bonfire (holika) and celebrate with friends and family.

Strong financials can help you lead a stress-free and happy life. Draw monetary lessons from this wonderful festival of colours and burn the burden of your bad debt, which among other things negatively impacts your credit score.

Clear all debts and take a pledge to manage your personal finances the smart way. While those engaged in business can look towards expanding their entrepreneurial empire with a Business Loan, those nurturing dreams of owning a home can buy one with a Home Loan.

Other liabilities like credit card debt can be paid off by seeking a Personal Loan.

All these financial solutions can be availed at our one-stop trusted platform – mymoneymantra.

mymoneymantra (MMM) is a one-stop trusted online financial services marketplace that hosts all leading banks and their products like Home Loans, Credit Cards, Business Loans, Personal Loans, Loans against Property, Life Insurance, Health Insurance, and more.

Our easy-to-use tools enable you to check loan eligibility and compare interest rates offered by various banks to avail the best deals.

Burn your financial worries this Holi with the following products offered by mymoneymantra

1. Personal Loan

Are bad debts weighing you down? Do you need money to fund your children’s’ education? Want to go on a vacation but a lack of funds is deterring your plan? You can avail a Personal Loan in no time. Besides meeting these needs, you could also take a Personal Loan to consolidate and pay off your debts, improve your home, buy appliances and gadgets, pay unexpected medical bills, and more.

Availing a Personal Loan is easy if you are 21 years or older and have a regular income source with a good credit history. MCLR (marginal cost of funds based lending rate) interest starts at 10.99% with repayment tenure ranging from 12 months to 60 months. Interest paid is based on the duration of the tenure. There is no requirement of collateral or security. Once you apply, disbursement of the loan takes place depending on submission of documents and other criteria. Visit MMM for more information on unsecured loans and apply right away.

2. Business Loan

Are you an entrepreneur geared up to expand your business this Holi? A Business Loan is the answer. Business owners looking to buy new equipment, purchase inventory or increase working capital to meet daily operational needs can also apply for a Business Loan. Typically it is unsecured and needs no collateral or security.

Interest rates for Business Loan start at 12.15%, which is generally pre-determined by the lenders. Depending on the requirement, one can choose the loan type (term loans, working capital loans, etc.). Women entrepreneurs enjoy a competitive advantage of availing special schemes at a lower rate of interest along with a wealth of other benefits. Contact MMM to know more about these benefits today!

Loans are given to those businesses that have been profitable for at least 3 consecutive years, have a good credit score and have their tax audit reports and other financial documents in order, among other things.

3. Home Loan

If you have been waiting to buy your dream home, here is your opportunity to own your home this Holi. During this festive time, banks are offering Home Loans with attractive interest rates, flexible repayment periods, quick turnaround times and other benefits. Contact MMM about a Home Loan today!

MCLR linked rate of interest for Home Loan starts at 8.35% with repayment tenure ranging from 5 to 30 years. It is secured against property being purchased and entitles the buyer to income tax benefits. A 21-year old (or above) salaried or self-employed individual with a steady income and a good credit score can apply for housing finance. A co-applicant with a stable income increases the chances of loan approval. Banks generally give loans in the range of 75% to 90% of the value of the property; the balance has to be borne by the buyer as down payment.

4. Loan Against Property

If you need funds for expanding your business, purchasing new machinery, investing in new technology /business, a Loan Against Property is the right solution. This secured loan requires borrowers to mortgage their asset or property as a collateral to the lender. The loan to value, which differs from bank to bank, ranges from 40% to 70% of the property value. The Loan amount is directly proportionate to the value of properly.

Interest Rates start at 8.50% with a repayment tenure up to 15 years, depending on the age of the borrower. The loan amount you can borrow is a minimum of 3 Lakhs and a maximum of 100 Crores, depending on the value of your property.

5. Credit Card

There can be no better alternative than borrowing funds at a point of sale using a Credit Card. It is the most convenient substitute for cash. Credit cards are short term financing offered by banks to credit card holders. If unpaid within 45 days,interest and penalties are levied by the lender.

If you are 21 years or older and have a minimum monthly income of 20,000 with a good credit score, you can easily obtain a Credit Card. Benefits and features differ from bank to bank. To select the right card, apply through our online platform. Get a credit card this Holi and buy gifts for your family using your card to spread happiness and cheer during this festive season.

Why obtain financial products from mymoneymantra?

MMM is a leading financial services marketplace backed with over 30 years’ experience. The team of financial experts will help choose the best product for you. They will aid you through the application and disbursal process and beyond. 
Contact our Loan Experts at our toll free number 18001034004 or visit our website www.mymoneymantra.com for the right solution today!