Bank Finance

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Answered on November 09, 2017
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  • Home loans can be generally availed between 7.5%-9% depending on the amount and the tenure of the loan. It generally varies from bank to bank though. SBI has the lowest interest rates in the country

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    Answered on November 09, 2017
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  • Personal Loan for Home Improvement. Home improvement loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated. These loans are given for a maximum term of 15 years and interest charged on these loans lies in the range of 9.5% to 10.5% per year.

     

    Following are  the documents required to avail a home improvement loan

    Proof of bot...

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    Answered on November 09, 2017
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  • Interest paid on a home loan can be taken as a tax deduction

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    Answered on November 09, 2017
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  • Personal Loan for Home Improvement. Home improvement loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated. These loans are given for a maximum term of 15 years and interest charged on these loans lies in the range of 9.5% to 10.5% per year.

     

    Following are  the documents required to avail a home improvement loan

    Proof of bot...

    (View more)

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    Answered on November 09, 2017
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  •  It should be noted that home loan EMIs will not go up since service tax is not levied on them and hence they will not be taxable under GST. However, loan processing fee and prepayment charges, etc., where service tax was levied will go up nominally, on virtue of GST


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    Answered on November 09, 2017
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  • It is all subject to the interest rate offered by any institution. However, some top names are ICICI, HDFC, SBI, Axis bank, Karnataka Bank, LIC Housing finance to name a few

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    Answered on November 09, 2017
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  • This is subject to the terms of the agreement with the institution. Certain banks have a prepayment penalty that needs to be paid. However, if the loan period left is considerably high, it may be a good option to pay the balance amount because the interest payment can really pile up over a long period of time. However, you should also consider your individual tax implications/exemptions while d...
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    Answered on November 09, 2017
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  • Moratorium could be offered to a borrower, however it is subject to the papers and the relationship the borrower normally shares with the lending institution. There are multiple factors that decide the term of moratorium offered by a bank

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    Answered on November 09, 2017
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  • The scheme of reverse mortgage has been introduced recently for the benefit of senior citizens owning a house but having inadequate income to meet their needs. Some important features of reverse mortgage are:A homeowner who is above 60 years of age is eligible for reverse mortgage loan. It allows him to turn the equity in his home into one lump sum or periodic payments mutually agreed by the bo...
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    Answered on November 09, 2017
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  • APF stands for Advanced Processing Facility.Every project of a developer is expected to have a valid APF number or a code. The APF Number is provided by banks or housing finance companies (HFCs). The APF Number denotes that the project has received all necessary approvals, and that homebuyers can invest in the project without any fear about the credibility of the developer.Most developers have ...
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