The home loan is the most common credit that is available and disbursed all over the country to millions of applicants. Most of the banks require similar documents for providing the home loans which are guided as per directives issued by the Reserve Bank of India. The approval of the loan depends hugely on the… Read More »
Home loan is a long term commitment often spanning over 2 decades and involves substantial amount money which the borrower takes and even more which he pays back in the long term. There are certain conditions under which the borrowers may want to prepay the home loan before end of the agreed term. There are… Read More »
In order to attract more and more customers the housing financiers come with several innovative schemes from time to time. One of such schemes which many borrowers are offered with is called the “No EMI till possession”. Though it might sound an extremely convenient option one needs to study a bit deeper to appreciate the… Read More »
At times one may get a call from the finance companies about having been approved of a loan even without applying. This is a situation when depending upon your credit rating the bank offers you a home loan which can be disbursed quickly on application for it. However it needs to be understood that pre… Read More »
There have been times, when there were many fluctuations in the home loan interest rates leading to additional EMI burden on the borrowers. In most cases the banks have extended the tenures in order to accommodate the borrowers the same EMI so as not add on to their monthly financial commitments. In many cases where… Read More »
During the last recession the entire global credit business witnessed a serious resource crunch which led to significant depreciation in the loan disbursal all over the world. The Indian home loan industry also saw a bit of slowdown. Thus in order to attract more and more customers post the global recession there have been numerous… Read More »
Deciding the right repayment tenure is important a factor a factor as choosing the right rate of interest to suit your requirements. The repayment tenure in a home loan is a critical factor since the long period involved will substantially increase the total cost of the property being bought with the loan. The fluctuations in… Read More »
While looking for a good deal on a personal loan there is always the dichotomy of choosing between a longer repayment tenure that makes the EMIs comfortable and shorter period that has a higher EMI but ultimately saves on interest paid out. There several kinds of offers on personal loans which are being advertised and… Read More »
With the growing popularity of home loans in the country there have been several variations made to these products to suit the requirements of different customers. There are various options available for deciding the type and amount of the EMIs which shall suit the income and repayment capacity of different borrowers. It is important to… Read More »
A home loan is a long term commitment that is spread over a period of up to two decades which is a major portion one’s earning career. Therefore the borrower must read and understand all the clauses which are involved in the home loan agreement before signing it in order to avoid heart burns at… Read More »