Pre approved Loans

Pre approved Loans

Pre-approved Loans

Consumers are spoilt for choices these days with various kinds of pre-approved loan available at their disposal. Let’s understand some basic types available as well as who all are eligible to avail this loans. This article provides some answers to frequent doubts raised by applicants.

Types of Pre-approved Loans

·        Pre-approved Home Loans

This type of pre-approved home loans are available to all salaried individuals . This are offered on the basis of the organization they work with as well their bank account conduct and other relationships held with the bank.

Banks offer this pre-approved loan on the basis of regular salary credits to the bank account of the applicants. This loans are competitively priced and offer hassle free process till the time of sanction. The property being offered to the bank should have clear title and approved by the lending institution. Applicant can apply for a loan through the bank website or mobile application. This loans are only available for purchase of residential property. This can be availed for a period of 10 years, 15 years and 20 year term. Applicant can go through home loan emi-calculator to decide on best loan term to suit your requirement. to know his EMI for the selected loan term. He has to approach the bank with Property documents and application form to avail the facility.

·        Pre-approved consumer durable loans

This products are available with finance institutions like HDFC bank limited, Bajaj Finserv lending, IDFC bank limited(erstwhile Capital first), Aeon Finance etc. This loans can be availed by converting online shopping into easy Equated monthly installments on most e commerce platforms like FLIP KART, Amazon India, Snap deal, Shop clues etc. These loans are jointly run as part of the promotional deals during festival sales period. These loans are also run on the basis of credit card relationships with leading banks. This products are offered under zero rate of interest rate schemes. This loans can also be availed at retail outlets of consumer durable sales outlets. one can do away with giving monthly bank statement and income papers to avail this loans.

·        Pre-approved Car Loans 

This type of loans are available to consumer who are interested in buying loans for purchase of new cars and available with leading dealers in offline mode as well as auto dealer websites like ,,,,, etc.  have various sales promotion schemes as well interest rate comparison running all the time . This are few of the best websites to check on the latest prices of the cars and pre-approved offers like free insurance , car accessories as well as special interest rates on select car models.

·        Pre-approved used car loans

These types of loans are alternative option to leverage for customers . Applicants who have any type of cars which are free of any kind of encumbrance and can be offered as collateral security can get better deals as compared to unsecured business loans. Purpose of availing the loan has to be declared upfront at the time of application .

·        Pre- approved Salaried Personal Loans

These types of loans are available to salaried individual who have healthy bank balance with a particular bank. Leading Indian Banks like HDFC Bank Limited, ICICI Bank Limited, Axis Bank Limited, Yes Bank Limited, and Kotak Mahindra Bank limited who offer this loans to their existing saving account customer who work with leading Indian and Multinational corporate entities. Most banks do not insist on Income tax papers to sanction such type of loans. Applicant can also get their existing home loan balance transfer to avail lower rate loan from the new bank .

·        Pre-Approved Business Loans

This loans are offered by banks to self-employed individual who have some type of existing relationship with the financial institution like an existing bank account, working capital limits, home loan , loan against residential and commercial property etc.  Borrowers must have a clean repayment track record of the existing loan to be eligible for this product.

Do Contact us to know more about the latest deals or help you resolve any queries on the above products.

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