Home Loan

 What is a Loan?

A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later timewhat is called emi. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount.
The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent.
Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding

Home loan

Your Home is a place where you relax after coming back from your day’s tiring work, it is that place where you can give time to your family & spend beautiful moments with them. To acquire a home which can be christened your “Own House” is a life-time decision & has to be taken with a lot of planning & requires huge finances. Your Dream Home is not very far away with a Home Loan which will fulfill your Dream into a reality. We at Deal4Loans are working constantly to get you the BEST Loan Deal & have brought a small guide which would answer some important questions related to Home Loan & help you decide your loan deal.
Home Loan is a Secured Loan offered against the security of a house/property which is funded by the bank’s loan, the property could be a personal property or a commercial one. The Home Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property. Get more Information on home loan section click Articles about Home Loanand Home Loan must read.

Most borrowed home loans

SBI Home Loan: Before borrowing any loan borrower compare interest rates. Generally people prefer to take SBI Home Loan because SBI (State bank of India) is main centralized and national bank. SBI provides loan at comparatively low interest rate.

HDFC stands for Housing Development Finance Corporation. Its has counseling and advisory services for acquiring property. It provide loan from any office for purchase of home anywhere in India. It gives Home Loan approval even before a property is selected.Because of flexible feature and transparent policy, most people prefer .HDFC home Loan for their requirement

ICICI Bank Home Loan: ICICI Bank offers a wide range of Home Loan products, designed to meet the requirements of customer. : ICICI Bank offers Doorstep service, Speedy loan sanction, Simplified documentation and Loan amounts ranging from Rs. 2 lakh to Rs. 3 crore Rupees only.

Types of Home Loan
There are different types of home loans available in the market to cater borrower’s different needs.

•  Home Purchase Loan : This is the basic type of a home loan which has the purpose of purchasing a new house.

•  Home Improvement Loan : This type of home loan is for the renovation or repair of the home which is already bought

•  Home Extension Loan : This type of loan serves the purpose when the borrower wants to extend or expand an existing home, like adding an extra room etc.

•  Home Conversion Loan : It is that loan wherein the borrower has already taken a home loan to finance his current home, but now wants to move to another home. The Conversion Home Loan helps the borrower to transfer the existing loan to the new home which requires extra funds, so the new loan pays the previous loan & fulfills the money required for new home.
• Bridge Loan : This type of loan helps finance the new home of the borrower when he wants to sell the existing home, this is normally a short term loan to the borrower & helps during the interim period when he wants to sell the old home & want to buy a new one, It is given till the time a buyer is found for the old home.

•  Home Construction Loan : This type of loan taken when the borrower wants to construct a new home.

•  Land Purchase Loan : It is that loan which is taken to purchase a land for construction & investment purposes. Documents required in Home Loan
Generally the documents required to processing your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:
• Age Proof
• Address Proof
•Income Proof of the applicant & co-applicant
• Last 6 months bank A/C statement
• Passport size photograph of the applicant & co-applicant
In case of Salaried
• Employment certificate from the employer,
• Copies of pay slips for last few months and TDS certificate
• Latest Form 16 issued by employer Bank statements
In case of Self-employed
• Copy of audited financial statements for the last 2 years
• Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if it is a company
• Profit and loss account for the last few years
• Income tax assessment order
Home Loan Process & various steps involved
There are various steps involved in getting a Home Loan from selecting your property to filling up the loan application. Following are the various stages in Home Loan:

• The first step involved in the process is to  find your property which is followed by the verification of property documents, post that the documents are examined & simultaneously you can start searching for the lender who can offer the BEST Home Loan Deal after checking your eligibility criteria.

•  Know the Home Loan Eligibility : Banks offer the loan amount only after checking your profile & based on various eligibility criteria’s like age, income & salary banks lend you the money.

•  Select the Best Home Loan after evaluation: Comparing home loan interest rates is the primary feature in the home loan selection, however other fees & charges like Application fees, processing fees, legal charges should not be neglected when comparing various loan offers. To check the interest rates & other charges incurred by various banks, Deal4Loans has brought in a Home Loan Comparison Chart across various Banks.

•  Applying for the Loan : After you have selected your lender, you have to fill in the application form wherein the lender requires complete information about your financial assets & liabilities; other personal & professional details together with the property details & its costs.

•  Documentation & Verification Process : You are required to submit the necessary documents to the bank which will be verified together with the details in the application.

•  Credit & default check : Bank checks out the borrower’s loan eligibility (through repayment capacity) & the amount of loan is confirmed. The borrower’s repayment capacity is reached which is based on the income, salary, age, experience & nature of business etc. Bank also checks credit history through the Cibil Score which plays a critical role in deciding & approving your loan application. Low Credit Score implies that the bank upfront rejects your application on the basis of earlier credit defaults; on the other hand high credit score gives a green signal to your application.

•  Bank sanctions Loan & Offer letter to the borrower : After the credit appraisal of the borrower bank decides the final amount & sanctions the loan, the bank further sends an offer letter to the borrower which constitutes the details like rate of interest, loan tenure & repayment options etc.

•  Acceptance Copy to the Bank : The borrower needs to send an acceptance copy to the bank after the borrower agrees with the terms & conditions in the offer letter.

•  Bank checks the legal documents : The bank further asks the legal documents of property from the borrower to check its authenticity so as to keep them as a security for the loan amount given. The next step involved is the valuation of the property by the bank which determines the loan amount sanctioned by the bank.

•  Signing of agreement & the loan disbursal : The borrower signs the loan agreement & the bank disburses the loan amount.
Charges in Home Loan
Acquiring a Home Loan doesn’t only involve the cost of home loan interest rates but it also includes other charges & fee accompanying at various stages of taking the Home loan. You must consider all these charges while comparing the cost structure across banks. Following is the detailed fee structure incurred by banks at different loan stages:

•  Processing Charge : It is a fee payable at the time of submitting the loan application to the bank which is normally non-refundable. The fee ranges between 0.5 per cent and 1 per cent of the loan amount.

•  Administrative Fee : It is a fee incurred by banks at the time of loan sanction; there are few banks who have removed this fee so you must check it with all the banks.

•  Prepayment Penalties : When the borrower pre-pays the loan before the loan tenure, banks charge a penalty which usually varies between 1 per cent and 2 per cent of the pre-paid amount.

•  Legal Charges : Banks also incur some charges from the customer for legal and technical verification of the property.

•  Delayed payment Charges : When there is a delay in the payment of your EMI, banks charge a late payment fee from the borrower which normally ranges from 2% to 3% of the EMI.

•  Cheque bounce charges : Banks charge between Rs. 250 and Rs. 500 for every bounced cheque towards the loan payment because of lack of funds in your account. Home Loan Criteria by various banks
The borrower’s eligibility of getting a home loan depend upon his/her repayment capacity & the banks establish this repayment capacity by considering various factors such income, spouse's income, age, number of dependants qualifications , assets, liabilities, stability and continuity of occupation and savings history. You can now check your eligibility for Home Loan through our Home Loan Eligibility Calculator
Deal4loans has brought in the Home Loan Eligibility Factors by banks
Important Pointers in Home Loan
• Increase your Loan eligibility
• Credit History : Your chances of getting a home loan are increased if you have a good credit history which is known by banks by checking the borrower’s Cibil score. Now it is very hard to get a loan from another bank when you already have a bad debt with one bank.

•  Clubbing of income : Your eligibility to take a home loan will augment when you club your income with your spouse’s income, bank in this case will calculate your eligibility on the basis of the clubbed income of both the applicants. You can club incomes of spouse, children & parents staying with you and having regular income.

•  Enhance your loan tenure : Longer is the loan tenure, lower will be the EMIs which further increases the repayment capacity of the borrower & in turn enhances the loan eligibility.

• Step-up Loan: In this type of loan EMIs remain low in the beginning & increase gradually as and when the borrower’s spending power increases. Therefore lower EMIs in the initial years enhances the borrower’s ability to pay & further increases the loan eligibility

•  Increase the down payment : You must know that in a home loan bank finances only 85 to 90% for the property & the rest amount has to be funded by the borrower. You should increase the down payment if you have more than required amount which will mitigate your debt considerably.
Tax Benefits in Home Loan
The home loan borrower enjoys Tax Benefits on both Interest paid & the Principal re-paid. Under Section 24(d) of Income Tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 1, 50,000.
Under Section 80(c) of Income Tax, Principal amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of
Rs. 1, 00,000.


source:http://www.deal4loans.com and www.wikipedia.org

Educational Loan

Education Loan
Proper education is one of the foundation stones for the success of any individual, and must never be abandoned for any reason whatsoever. By availing an education loan, you can get financial assistance during the pursuit of your studies in the following areas :
Any kind of fees payable to the educational institution like tuition fees, examination fees, lab fees, etc.
Hostel security, caution money or any kind of institutional fund
Purchase of laptops or any other electronic equipment essential to the course.
Purchase of books and uniforms
Travel expenses (in case of studies overseas)
Miscellaneous expenses like project work, amount for completion of theses, etc.
While funding one's studies is obviously the main purpose of taking an education loan, there are also many benefits associated with the taxes you would have to pay. Following is a slight brief of the same :
The section under which one can claim deductions from taxable income is 80 E. To be specific, the deduction is only for the interest paid, and not on the principal amount.
One would get tax benefit only if the loan is in his/her name and is taken for the purpose of pursuing higher education for self, spouse or children.
Only full-time courses would be considered for tax exemption. Neither part time courses nor correspondence ones can be exempt under the same.
One can claim deductions for as many loans he has taken for educational purposes. For instance, if you have taken a loan for self as well as your spouse, you can claim noth deductions from your income, provided it is you who is paying both the EMIs.
These deductions are only available for a period of eight years starting from the financial year when you start paying the installments.
The total fee for the entire course is usually given by the bank directly to the concerned college, educational institution. The process goes like this, once you have submitted the application for a loan, the bank would verify the estimated expense for the entire course and compare it with the amount you have applied for. It might also be a possibility that the bank may reduce the loan amount on the basis of various grounds. Banks also might charge a remittance fee for payment to education institutions abroad which are in dollars. In case you are unemployed and can't start on your EMIs immediately, your repayment would start approximately six months to one year after your course has been completed, or when you get a job, whichever is earlier, and the interest would be compounded quarterly and added to the principal. Although this option carries a high interest rate, it's beneficial for students who are going abroad or those who are financing their studies by themselves. Further, education loans also don't attract the pre-payment penalty.


In case you have opted for a floating interest rate loan, you are not allowed to switch over to the fixed rate one. However, you can change your borrower, i.e., the bank from where you have taken the loan, in case you get a better deal, with some part of the loan amount paid by you to the bank which would not be deducted from the amount you have to pay. Many times, people resort to personal loans for educational purposes also, since they want more than the loan amount that has been sanctioned by the bank due to numerous reasons. However, this can prove to be very harmful in the long run, as the interest rate for a personal loan is always higher than an education loan. The repayment requirements are also not as convenient as in case of an education loan. Hence, one must take an education loan for all expenses related to studies. However, in case one does have expenses more than the prescribed loan amount, he should take a personal loan only for the excess amount, and not the entire expense.


Eligibilty
Aplicant should be an Indian national
Applicant should have one parent earning a regular source of income
Age : 16-26 years
Studies in India : upto Rs. 10 Lacs
Studies abroad : upto Rs. 20 Lac


Document required
1. "PNB Sarvottam Shiksha Scheme"t (the applicant) and the parent /guardian (the Co-applicant).  - The documents should be got executed by studen


2. PROOF OF AGE
3. PROOF OF IDENTITY(Applicant and Co-applicant)
Letter from present College/institution
Photo PAN Card
Driving Licence
Passpory
Voter's Card
4. PROOF OF AGE (Applicant and Co-applicant)
Birth certificate
School leaving certificate
PAN Card
5. PROOF OF ADDRESS (Applicant and Co-applicant)
Ration Card
Utility bills
Rental agreement
Passport
Insurance payment receipt
Voter's Card
6. PROOF OF INCOME (Self Employed)
Salary Slips
Bank Statement
Form 16
Income Tax Returns
Certified Balance Sheet and Profit & Loss Account etc. with Details of Assets & Liabilities of parents or guardian
7. SECURITY/GURANTOR'S DOCUMENTS (for Loan more than 4Lacs)
Particulars of Guarantors and details of their Assets & Liabilities, wherever applicable; If immovable property offered as Collateral Security - copy of Title Deed, Valuation Certificate and Non-encumbrance Certificate from approved Lawyer of the Bank
8. DOCUMENTS FOR MAIN APPLICANT ONLY
Proof of having secured pass marks in last qualifying examination
Letter of admission in professional
Technical or vocational courses
Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned
Photocopy of Passport & Visa, in case of study abroad
Any other document/information, depending upon the case and purpose of the loan.
Six Things To Look While Applying for Educational Loans







1. Interest rates
The first and the foremost is the interest rates charged on the education loan. This interest rate is the primary factor that earns money for banks and so they want it to be higher, but the competition in the loan market makes the bank keep it to a level where the education loan seems affordable to the customer, while it earns money for the banks too. Whether the interest rate charged on your education loan is fixed or floating is also a matter of concern. Generally, the value of fixed interest rates is higher than the floating interest rates. Going for floating interest rates in this low interest regime is always a better option.

The interest rates also depend on the amount of education loan one wants, keeping in mind all the realistic requirements, a judicious comparison of various offers from leading banks will certainly help the student find an education loan that pinches the least.

2. How the interest is charged?
Though the banks defer repayments, but they start charging the interest immediately after the disbursal of the loan. How this interest is charged will determine the amount of interest you will pay. Enquire carefully whether it is charged on a daily reducing balance, or on a quarterly reducing balance. The interest rates charged on loans thus keep accumulating until you start the repayments. This can significantly increase the repayment burden. If the bank providing education loan gives an option to pay the interest portion of your education loan immediately, use it by all means.

3. The waiver period
The third most important thing to watch out is the waiver period. Banks providing education loans generally don't expect the student to pay until he gains employment after completion of the course. Check this out carefully, does your education loan provider gives you such an option? The whole idea is to get comfortable financially before the bank asks you for a repayment.

4. Fees and other costs
The fees associated with the education loan such as processing fees, administrative fees, documentation costs etc. should be minimal.

5. Collateral, guarantee or security
There is a collateral clause with all the educational loans from banks in India provided the education loan exceeds a value of 4 lacs. This figure can vary from bank to bank but it is generally a norm. Make sure to ask the bank about collateral requirements and have it ready before the disbursal of loan.

6. The down payment
A down payment also has to be made with every education loan, ranging between 5%-20% of the loan amount depending on banks this money has to be paid upfront.

Comparing interest rates, various fees, collateral requirements, and down payment requirements across various banks will help you find out an education loan that fulfills your higher education dreams without burning a big hole in your pocket.


Banks Offering Loans


Bank of India
State Bank of India
Bank of Baroda
Dena Bank
HDFC Bank
Union Bank of India
UCO Bank




source:http://www.rupeetimes.com,http://www.paisawaisa.com

Mortgage Loan

What is a Mortgage Loan?
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and theencumbrance of that realty through the granting of a mortgage which secures the loan. However, the word mortgage alone, in everyday usage, is most often used to mean mortgage loan.
A home buyer or builder can obtain financing either to purchase or secure against the property from a financial institution, such as a bank, either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably.
In many jurisdictions, though not all (Bali, Indonesia being one exception, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets have developed.
The word mortgage is a Law French term meaning "dead pledge," apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure.

 Basic concepts and legal regulation
 According to Anglo-American property law, a mortgage occurs when an owner (usually of a fee simple interest in realty) pledges his interest as security or collateralfor a loan. Therefore, a mortgage is an encumbrance (limitation) on the right to the property just as an easement would be, but because most mortgages occur as a condition for new loan money, the word mortgage has become the generic term for a loan secured by such real property.
As with other types of loans, mortgages have an interest rate and are scheduled to amortize over a set period of time, typically 30 years. All types of real property can be, and usually are, secured with a mortgage and bear an interest rate that is supposed to reflect the lender's risk.
Mortgage lending is the primary mechanism used in many countries to finance private ownership of residential and commercial property . Although the terminology and precise forms will differ from country to country, the basic components tend to be similar:
Property: the physical residence being financed. The exact form of ownership will vary from country to country, and may restrict the types of lending that are possible.
Mortgage: the security interest of the lender in the property, which may entail restrictions on the use or disposal of the property. Restrictions may include requirements to purchasehome insurance and mortgage insurance, or pay off outstanding debt before selling the property.
Borrower: the person borrowing who either has or is creating an ownership interest in the property.
Lender: any lender, but usually a bank or other financial institution. Lenders may also be investors who own an interest in the mortgage through a mortgage-backed security. In such a situation, the initial lender is known as the mortgage originator, which then packages and sells the loan to investors. The payments from the borrower are thereafter collected by a loan servicer
Principal: the original size of the loan, which may or may not include certain other costs; as any principal is repaid, the principal will go down in size.
Interest: a financial charge for use of the lender's money.
Foreclosure or repossession: the possibility that the lender has to foreclose, repossess or seize the property under certain circumstances is essential to a mortgage loan; without this aspect, the loan is arguably no different from any other type of loan.
Many other specific characteristics are common to many markets, but the above are the essential features. Governments usually regulate many aspects of mortgage lending, either directly (through legal requirements, for example) or indirectly (through regulation of the participants or the financial markets, such as the banking industry), and often through state intervention (direct lending by the government, by state-owned banks, or sponsorship of various entities). Other aspects that define a specific mortgage market may be regional, historical, or driven by specific characteristics of the legal or financial system.
Mortgage loans are generally structured as long-term loans, the periodic payments for which are similar to an annuity and calculated according to the time value of money formulae. The most basic arrangement would require a fixed monthly payment over a period of ten to thirty years, depending on local conditions. Over this period the principal component of the loan (the original loan) would be slowly paid down through amortization. In practice, many variants are possible and common worldwide and within each country.
Lenders provide funds against property to earn interest income, and generally borrow these funds themselves (for example, by taking deposits or issuing bonds). The price at which the lenders borrow money therefore affects the cost of borrowing. Lenders may also, in many countries, sell the mortgage loan to other parties who are interested in receiving the stream of cash payments from the borrower, often in the form of a security (by means of a securitization).
Mortgage lending will also take into account the (perceived) riskiness of the mortgage loan, that is, the likelihood that the funds will be repaid (usually considered a function of the creditworthiness of the borrower); that if they are not repaid, the lender will be able to foreclose and recoup some or all of its original capital; and the financial, interest rate risk and time delays that may be involved in certain circumstances.
Mortgage loan types
There are many types of mortgages used worldwide, but several factors broadly define the characteristics of the mortgage. All of these may be subject to local regulation and legal requirements.
Interest: interest may be fixed for the life of the loan or variable, and change at certain pre-defined periods; the interest rate can also, of course, be higher or lower.
Term: mortgage loans generally have a maximum term, that is, the number of years after which an amortizing loan will be repaid. Some mortgage loans may have no amortization, or require full repayment of any remaining balance at a certain date, or even negative amortization.
Payment amount and frequency: the amount paid per period and the frequency of payments; in some cases, the amount paid per period may change or the borrower may have the option to increase or decrease the amount paid.
Prepayment: some types of mortgages may limit or restrict prepayment of all or a portion of the loan, or require payment of a penalty to the lender for prepayment.
The two basic types of amortized loans are the fixed rate mortgage (FRM) and adjustable-rate mortgage (ARM) (also known as a floating rate or variable rate mortgage). In many countries (such as the United States), floating rate mortgages are the norm and will simply be referred to as mortgages. Combinations of fixed and floating rate are also common, whereby a mortgage loan will have a fixed rate for some period, and vary after the end of that period.
In a fixed rate mortgage, the interest rate, and hence periodic payment, remains fixed for the life (or term) of the loan. Therefore the payment is fixed, although ancillary costs (such as property taxes and insurance) can and do change. For a fixed rate mortgage, payments for principal and interest should not change over the life of the loan,
In an adjustable rate mortgage, the interest rate is generally fixed for a period of time, after which it will periodically (for example, annually or monthly) adjust up or down to some market index. Adjustable rates transfer part of the interest rate risk from the lender to the borrower, and thus are widely used where fixed rate funding is difficult to obtain or prohibitively expensive. Since the risk is transferred to the borrower, the initial interest rate may be from 0.5% to 2% lower than the average 30-year fixed rate; the size of the price differential will be related to debt market conditions, including the yield curve.
The charge to the borrower depends upon the credit risk in addition to the interest rate risk. The mortgage origination and underwriting process involves checking credit scores, debt-to-income, downpayments, and assets. Jumbo mortgages and subprime lending are not supported by government guarantees and face higher interest rates. Other innovations described below can affect the rates as well.
How to utilise your mortgage loan
The home is a valuable asset that most home owners acquire over time. Trading it for cash with a mortgage can be a less expensive way to avail of a loan, but it should not be used lightly. It makes sense to shop carefully for mortgage loan quotes before borrowing, and to prioritise the use of the mortgage loan. After all, a mortgage loan uses the property as collateral, so it should only be used to finance purchases that are worth that risk.In general, a mortgage loan should be used when the following conditions are met:
The purchase is long-term in nature.
Loan quotes show a distinct interest rate advantage compared with other methods of financing.
A repayment plan has been carefully budgeted.
Given below are some examples of possible utilisation of your mortgage loan:
Debt consolidation: This is a common reason why a mortgage loan may be availed of, since such loans generally carry lower interest rates than other loans like personal loans. Debt consolidation allows borrowers to pay less interest by securing their debt with their home. 
Home improvements: With the festive season around the corner, home improvements can be a way of adding value to a home or increasing its marketability. Using a mortgage loan to add space may be cheaper and involve less hassles than taking an unsecured loan. As in unsecured loan The term of repayment for an unsecured loan is shorter, as compared to mortgage loans, which in turn results in a high EMI.
For your children's higher education: While not investing in the house itself, money from a mortgage loan can be utilised for your children's higher education because it represents an investment that has long-term benefits and should produce an eventual financial return. Mortgage loan financing rates compare favourably with most types of private education loans. However, there are many forms of subsidised or assisted financial aid for college, so it would be wise to compare mortgage loan quotes with other education loans before committing. 
Starting a business: Banks and finance institutes offering business loans are notorious for the number of hoops they make borrowers jump through with regards to higher rates of interest and short durations. Mortgaging a property, if available, can be more feasible in terms of the rate of interest and the repayment term. Of course, you should put together a business plan before attempting entrepreneurship; receiving a mortgage loan to start a business is likely to take much less time, because valuing a home is easier than evaluating a business. 
For medical treatments: With the cost of medical treatments going through the roof, even the well-insured can be hit with more than they can handle -- many treatment centres today want a significant portion of payments to be made up-front. A mortgage loan may be the best way to get top-rated care sooner for a serious condition. 
Down payment for property investment: Finance for the down payment of an investment property is a good option, as a boom in the property market can give good returns on the investment made at this point, while paying low interest rates.

Banks Offering Mortgage Loans
HDFC
Bank of Baroda
Citybank
Bank of India
State Bank of India


source:www.wikipedia.org and  http://www.rediff.com