FINANCE TIP OF THE DAY
Can you afford your loan?!
Know the quantity of loan you can afford. The banks may sanction loan based on your income but you should look at your monthly expenditure and see if you can afford the maximum that banks offer. As a thumb rule, remember not to let your credit exceed 40% of your income!
Search Results for: loan closure documents
penalty for the dishonoring of the cheque. The Document Verification Charges: Some of the banks charge an upfront amount for personal loans which they justify as the money spent towards verification of the credentials of the documents submitted by the applicant during the loan application. The Miscellaneous Charges: In addition to these charges that are listed above the banks may charges a host of other miscellaneous charges such as fees for a s…
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er / NOC and a statement mentioning the outstanding amount. This needs to be provided to the new lender who then sanctions your loan amount to the old lender for an account closure. Once the transaction is over, your property documents will be handed over to the new lender, the remaining post dated cheques / ECS will be cancelled. The bank you are shifting to will offer you a loan based on the current home loan rates they are offering to their ho…
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