If you are planning to take a home loan for your dream home Joint Home Loan could be the best Idea for you if your spouse is working. The Joint Home loan comes with a bundle of Benefits. A Bigger…
Category: Finance
Coming soon: the ‘e‑IPO’ to bring down the listing time period
Market regulator Securities and Exchange Board of India (SEBI) aims to reduce the period between the closing of an initial public offering (IPO) and commencement of trading on stock exchanges to five-six days, against 12 days at present. The SEBI…
Other Costs That Usually Accompany Your Home Loan
Home loans usually attract following extra costs: 1) Processing Fees: It’s a fee payable to the lender on applying for a loan. It is either a fixed amount or may be a percentage of the loan amount applied for. 2) Pre-payment Penalties: When…
What is My Home Loan Eligibility
Most companies give home loan up to a maximum of 85% of the cost (including the registration cost) of the house for a loan upto Rs.20 Lakhs & 80% of the cost above Rs. 20 lakhs. However in case of…
Term & Rate of Interest for a Home loan to be chosen
Term: A maximum term of 25 years is allowed for mortgage but in a study its shows that most of the Indian borrower prefers to go for 20 years term period. The general consensus seems like if you can afford a…
Home loan top up is cheaper than personal Loan
These days if you have Home Loan on your house you can get top up on that loan for your personal use. The top up Loan on your home Loan is much cheaper as compared to the Personal loan. It’s…
Some Queries of Readers on CIBIL
Is CIBIL a list of defaulters? No. CIBIL only maintains account information of various loan customers and credit card customers irrespective of the fact whether they are defaulters or not. The information comprises their name, address, monthly repayment track record, outstanding…
How CIBIL get & share Credit information of consumers
CIBIL collects credit information of the customers of each member financial institutes & get it compiled by its own. CIBIL share the credit report of consumers with in its member group only. The Credit Information Companies (Regulation) Act, 2005, and various Rules…
What Should One Do, if there is a Mistake in the CIBIL Report
Typically, one checks credit report when one’s loan gets rejected and the loan provider tells that it is because of some information on credit report. Mistakes on a credit report can be easily corrected with the CIBIL’s help. All you need to do is: a) Purchase your…
How to Own your CIBIL Report
There is a procedure for purchase of one’s own CIBIL report so that before you apply for loan, you are aware of the same & you may get the errors rectified, if there any, before you’re your lender seen the wrong…