I borrow home-loan from an Housing Finance Company (DHFL)paying monthly EMI for my flat at intrestrate of 12%pa.But now RBI reduced the interests rate, but the finance company retained the same rate.also they asking me to pay part payment of your loan amount ie near abot Rs.40,000 to 50,000 to reduce the intrest rate,the loan period is 20 years, Please help me about this matter Thanks & regards Swapnil
can anyone knows that if property is under construction ( for 2 yrs ) then from when bank starts emi? after completion of project or aftet issuing first payment ( upto 20 % of loan amt) ?
Re: LOAN PATTERN ON UNDERCONSTRUCTION PROPERTY
by Guest on Sep 29, 2009 04:47 PM
the term and conditions depends form bank to bank. but there are options where you can change over form pre-emi to emi even before occupation or full disbursal. but RBI has a clause which prevents banks to disburse within 6months of previous disbursement. check full details with your bank.
Re: LOAN PATTERN ON UNDERCONSTRUCTION PROPERTY
by Raina on Sep 29, 2009 04:10 PM
in pre-emi option u pay interest on loan amount disbursed, on completion you pay full eMI.
Re: Interest Rate in Co-Applicant Case
by ramanan sivanarayanan on Sep 29, 2009 03:03 PM
not at all... the advantage of a co-applicant is that ur eligibility will increase.
First of all it is not that easy to get home loan. Now a days it is taking hell lot of time to get hl. Before booking your flat pls check with your bank about your eligibility amount and most important thing your cibil report. Because banks takes a lot of time to process your loan application. They wont inform about your application status immediatly. They will take their own time and at the neck of the moment they will inform that your application is rejected. It is always better to be aware of the above things
