The property on which you are securing the loan is generally preferred. It is important, however, on your part to ensure any existing mortgage or loan or litigation which can affect the title of the property.

Under Income Tax 1961, you are eligible for tax benefits on the principal and interest components of your home loan.

The minute you decide to purchase or construct a house, you can apply for the home loan.

There are several ways to pay your home loan’s EMI every month. You can opt for issuing a standing instruction to your bank through Electronic Clearing System or give post-dated cheques or even make direct deduction by your employer.

EMI or equated monthly installments are the specific amounts that you will have to pay on the defined date each month from the starting of the loan. This is designed in such a way that it comprises the interest and the principal component.

Business loans can be availed by professionals and self-employed with the following entities Sole Proprietorship Partnership Firm Private Limited Companies Closely held Public Limited Companies Societies Trusts Hospitals, Nursing Homes, Diagnostic Centers, Pathological Labs

The term loan is the classic product which provides fund and you have to repay an equated installments every month. There is an option to prepay with any extra funds you might have, but you cannot withdraw. While the line of credit is the special product that provides you with the funds and you are required to repay the interest only on the utilized amount.

To fulfill your short or long-term business needs, you can take easily available business loans with a variety of repayment options.

You are allowed to avail LAP for any of the following reasons which include: i. Business growth Ii. Long-term working capital Iii. Factory tools or equipment purchase Iv. Holiday V. Child’s education

This will depend on the property type and bank or issuer, however up to 70% of the property can be availed as LAP.

This will depend on the issuer, however, up to 90% of the total LAP can be availed as an OD.

Residential and commercial properties can be easily mortgaged provided they are free from any charges or any loans.

Assessment of the calculation is done based on the two parameters: the value of the property to be used as collateral and your financial health.