Can I repay the loan ahead of schedule ?
Yes, you can repay a loan ahead of schedule. Some Home Finance Companies charge a pre-payment penalty.
- March 31, 2020
- Pradeep
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Home Loan
On what basis is the amount of the home loan decided? or on what basis a capacity of a person to repay the loan is evaluated ?
The amount of the loan for each individual depends on the following factors:- An Indian resident or NRI The income of the family applying for the loan. Above 21 years …
- March 31, 2020
- Pradeep
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What are the types of loans available depending on the interest charged?
Most Housing Finance Companies offer the fixed rate as well as the adjustable rate (Variable – Floating rate) home loan to customers Fixed rate: where the rate of interest charged …
- March 31, 2020
- Pradeep
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What is the difference between monthly rest and annual rest?
Monthly Rest : the interest is calculated on the outstanding principal loan at the beginning of every month. Annual Rest : the interest is calculated on the outstanding principal loan …
- March 31, 2020
- Pradeep
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