In car finance, can there be any clause?–Mayank that is pre-payment Bhardwaj
Yes, often there are prepayment limitations vehicle loans, particularly in the very first few years. But, the fees differ by loan provider, term expired, loan outstanding along with your creditworthiness. Please read the information on your vehicle loan sanction page to find out of the costs.
We had taken loan of Rs 23 lakh from HDFC Bank together with month-to-month EMI is Rs 18,500. I have perhaps maybe not taken PMAY subsidy. I would like to increase my EMI to Rs 27,000 and do prepayment of Rs 5 lakh. Am I going to still be qualified to receive PMAY subsidy? —Abhay Singh
In the event that you match the conditions of PMAY subsidy, you might get it now. Nevertheless, component prepayment or repayment that is full extremely hard without reimbursement of PV of future subsidy currently availed during the time of sanction.
My buddy really wants to purchase a home but he doesn’t have regular salary. Can the money is borrowed by me through the bank and present it to him to purchase the home?
—Deepak Kumar Soni
Banks will give consideration to loans to individuals without regular income when they can substantiate their over-all constant earnings with the supporting ITR for 3-5 years. That you are taking the responsibility of EMIs on his behalf if you want to help your brother with the loan, remember. Bank will move healing up process against you in the event of irregular repayments. This can additionally spoil your creditworthiness. In the event that loan is with in your joint title, you will certainly reduce your eligibility of a mortgage on your own individually. In the event that you would nevertheless ahead want to go with this specific arrangement, choose the home in your title and allow your sibling to remain here with rentals compensated to you personally. When he’s got an income that is steady you might gift him the house when you close the loan account together with your brother’s funds.
Which is way better: a silver loan or your own loan for a need that is short-term? —Narender Gupta
When it comes to interest rate, there is absolutely no difference that is speedy cash substantial the reduced end regarding the interest range. But, a loan that is personal be since expensive as 20% per year rate of interest. Because of the very restricted information you have provided, it is far better to go after that loan against silver. This will be less expensive than a personal loan as you have the safety of thegold with all the bank.