Hi, 1)Recently I changed my company, my PF balance is about 4 lacs in previous company. 2)I have a home loan, outstanding amount is 21 lacs. 3)I calculated that if I withdraw PF amount (4 lacs), and pre-pay home loan with the same, I will save about 15 lacs in home loan payments (assuming […]

Hi Manish , Suppose i have taken a loan of 30L . Scenario 1 (15 Yrs) : EMI comes to around lets say 35000. Scenario 2 (20 Yrs) : EMI comes to around ,lets say 30000. Now suppose i have loan for 20 yrs and start paying rs 35000 per month.Will my loan get finish […]

So I am back again with my home loan query. 🙂   Ok, Here is the deal. I have finalized a property in NalaSopara-E under resell from first occupiant of the same flat(He bought from Builder). Deal will be done on 100% cheque basis (White money). Situation: 1. The seller has a loan from Federal […]

And can a bank deny me a home loan if I have all the documnet in place? I have finalised a property in Nalasopara-E, Mumbai and ICICI Bank says they dont approve loan in Nala Sopara or Naigoan region. Is that illegal, assuming all the property and income proofs are in place?   And if […]

Dear All, I have a query regarding home loan, I presently have a loan of 16 Lakhs with INGVysya on floating interest rate and an initial tenure of 13 years which has now changed as the interest rates have gone up. The loan is 3 years old. I am presently paying an EMI of 18885 […]

Home Loan Part Payment? I have heard that private sector banks do not reduce the part payment amount from the principal,but they just reduce the number of EMI\’s, Is this right, if so which banks are these?           Example: I pay a regular EMI of Rs.30000 and my outstanding principle is 25 lacs, now if i […]

I was randomely checking for EMI calculation on bankbazaar.com and when checked for tax implications for 80C, I found this.   http://www.bankbazaar.com/home-loan/productDetails.html?offerId=ddcf8bc4-dcc4-4417-b294-ba88a365e74e   I can see tax saving under 24 clause but I cant see tax saving under 80C, It shows it as zero. I am not sure if is there any bug or thats […]

Please let me know which Home loan is best .I want to go for 40 lacs

I have a homeloan of 9.5L. There was a talk of interest subvention upto 1% for loans less than 10L. This was discussed during the previous year’s budget and probably this year’s too. What is the procedure to claim the 1% interest back?

I am thinking of applying for Home Improvement Loan. I am trying to cover the cost of flooring,borewell and other things. Its with HDFC,Do you have experience with such loans,how different are these loan from regular home loan.HDFC website quotes 10.25% interest (for loan below 30 Lakh) as of today which is 25 basis points […]