How will one电竞(新疆)在线登录 decide the loan amount I am eligible for?
We will determine your loan eligibility largely by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.
What does an EMI Mean?
EMI refers to the ‘Equated Monthly Installment’ which is the amount you will pay to us on a specific date each month till the loan is repaid in full. The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.
Do I get tax benefits on the loan?
Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.
Can I apply for a loan to one电竞(新疆)在线登录 to repay a Home Loan availed by me from another Bank / Housing Finance Company?
Yes, you can apply for a loan to us for repaying a Home Loan availed by you from another Bank / Housing Finance Company or even your employer. For more details on ‘Balance Transfer’ kindly contact our nearest office/ Represenatative.
Can I repay the Loan ahead of schedule?
Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges. We also offer a free-of-charge facility to accelerate your loan repayment called ‘Accelerated Repayment Scheme’. This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.