The loan offer Gayathri obtained was a flat rate loan. Sanjana on the other hand, had shortlisted two reducing balance loan offers with different rest periods. As her calculations revealed the loan offer with a monthly rest turned out to be a better loan bargain than the one with an annual rest.
While credit worthiness is one of the major reasons a person is asked for a guarantor, it also does not necessarily mean that the borrower’s credit worthiness is being questioned. However, when you sign on the dotted line and agree to become a guarantor, you are legally bound to pay off the debts if the… Read More »
When you go for home loan, you have to pay around 10% to 15% of the project cost and around 85% to 90% is funded by the bank or financial institution. If you have more than the required amount for ‘down payment’ then pay more, so that your required debt is reduced significantly.
There are a few more options too that you could look at. For instance, you can obtain a loan against the surrender value of your life insurance policy from the insurance company or from a bank or obtain a loan from your provident fund account if you have had an employee provident fund account for… Read More »
Time and again RBI has urged banks to rethink their BPLR to encourage lending and allow the train of money rotation to chug along at a peaceful pace. Benchmark Prime Lending Rates (BPLR) is a reference interest rate used by Banks as a benchmark to determine the interest rate passed on to the customer. The… Read More »
There have been several instances noticed where compromise has been made on the square feet area of the house. For example, balconies have disappeared from floor plan, 1000 sq. ft homes are being converted to 850 or 900 sq. ft. in a bid to make space for more apartments in a block, 544 square feet,… Read More »
In this time and age where the Internet is seen as the mother of all information sources, the Indian online loan marketplace is in woeful lack and has plenty of scope to make a world of difference. Getting personalised rate quotes from multiple banks is a time consuming process and even after getting the quotes,… Read More »