Have you ever received a phone call from your relationship manager telling you that, there is a pre-approved personal loan especially for you? A lot of people get excited about this fact, that there is a special offer for them and that the bank is ready with the red carpet waiting top hear a – “Yes, I am interested” from them. However, what’s happening deep down in these cases is…
4 important things to complete when you Close your Home Loan
It’s a dream of most of the homeowners to own a house without any loan on their head. It’s a great moment in their life, when they pay the final EMI of their home loan or pre-pay the full outstanding balance and clear the home loan fully. It’s a moment of pride and happiness. It’s a great relief for someone who was paying the EMI from so many years continuously….
How Top up loans are good alternatives of Personal Loan ?
Imagine you already have a home loan and now after few years of payment, you again need some extra loan for some purpose? What would you do ? One would ideally think of applying for a fresh loan from scratch and might get it too .. But there is a faster option to get a loan if you already have a running home loan and its called top-up loan. How…
6 tricks to increase your Home loan eligibility and learn how its calculated by banks ?
Today you are going to learn how much home loan amount you are eligible for. I will show you how banks calculate your home loan eligibility and what are some of those factors which can impact your loan eligibility. At the end, I am also going to share some tips you can take to increase your home loan eligibility. What is Home Loan Eligibility ? Home Loan Eligibility simply means…
Why you should collect NOC (No Objection Certificate) once your loan is complete ?
Once you pay off your loan, a big responsibility is off your mind and you feel relaxed. Its a moment where you do not want any further run around and want to now move on to other things in life. And this is exactly why most of the loan customer do not collect a document called “NOC” or “No Objection Certificate” from their lender and it can get them into…
Do not close your Loans – If you want to improve your credit score!
Do you have a loan and want to close it as soon as possible? I know the answer is YES! . Everybody wants to get rid of debt and want to enjoy a debt free life. But, what if I give you a good enough reason to not close your loan and keep paying your EMI on time? And if I suggest you do that even if you have a…
4 things to do, when you are forced to buy a Policy with Home Loan !
Have you even seen cases where when a person wants to get a home loan, and the bank or the lender says that taking some kind of ULIP policy or some other kind of insurance product is mandatory if you want the loan to be approved? Most of times, banks impose this restriction in the final stages of loan approval process because that’s the time when most of the customer…
Prepayment Charges abolished by RBI
This is a little old news. RBI has finally abolished Prepayment charges or penalty on home loans with floating interest rates. Borrowers can now transfer to new lender which provides them less interest rates without paying any kind of charges or penalty. Damodaran Committee on customer service in banks, RBI) has been observed that banks have been unfair in asking for charges when home loan borrowers want to switch to some…
Which is the best bank for Home Loan ?
Taking a Home loan is a big task in itself and one of the biggest financial decisions. Home loan is the longest debt in our life. At times 10-20 yrs, which makes demands a long term commitment. Each month you have to pay your EMI, sometimes you have to prepay some part of home loan, sometimes you need some documents and visit the bank. There are numerous things to be done during…
How Axis Bank fooled a Home Loan Customer – Real life Case
This post is to bring to you notice how banks can get you in trouble while signing the home loan documents and use your casualness and trust to force-sell you some junk product. Recently one of our readers Nitin Mittal took a home loan from Axis Bank after a lot of research and study, but Axis Bank officials sold him a home loan insurance without his notice and issues him…
