Category: Home Loan

Home Loan

Home Loan NOC: Everything You Need to Know for a Smooth Transition

NOC refers to the No Objection Certificate. This important legal document is also sometimes referred to as a No Dues Certificate. It’s a document that states that the home loan borrower has paid all home loan EMIs as well as successfully repaid both the interest and the principal component of their home loan and therefore, they are now the rightful owner of the property against … Continue reading Home Loan NOC: Everything You Need to Know for a Smooth Transition

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Home Loan

Essential Documents Required for a Smooth Home Loan Application

Over the last few years, the demand for home loans has increased significantly. This is primarily because home loans allow borrowers to buy a home and pay for it slowly and conveniently over a loan tenor that works best for them. Home loans also offer home loan tax benefits and borrowers can avail of these benefits to save money each financial year. Further, home loans … Continue reading Essential Documents Required for a Smooth Home Loan Application

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Home Loan

Statutory Liquidity Ratio (SLR): A Crucial Metric for Financial Stability

The Reserve Bank of India governs all commercial banks and lenders within the country and as per one of the RBI guidelines, all banks and commercial lenders operating within the country must maintain a certain portion of their time and demand deposits in the form of liquid assets before they can start lending out money to borrowers. Lenders must maintain this deposit within their vaults. … Continue reading Statutory Liquidity Ratio (SLR): A Crucial Metric for Financial Stability

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Home Loan

Determine Your Borrowing Potential with Home Loan Eligibility

Home loans are a long-term commitment. These loans go on for years and therefore, one must be extra cautious while availing themselves of home loans. The tenor for home loans extends between 15 to 30 years. Further, since home loans involve a substantial amount of money, borrowers must borrow carefully and after taking into account their income and repayment potential. All lenders offer online handy … Continue reading Determine Your Borrowing Potential with Home Loan Eligibility

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Home Loan

Ready to Settle? The Ultimate Guide to Taking a Home Loan

If you are planning to avail yourself of a home loan, here is a handy guide on things you should know and remember.  1. Most people do not know that home loans are a type of secured financing. The property one buys with the home loan availed of serves as collateral. In case of loan default, the lender can sell the pledged property and recover … Continue reading Ready to Settle? The Ultimate Guide to Taking a Home Loan

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Home Loan

Demystifying the Home Loan Process: A Step-by-Step Guide to Secure Your Dream Home

Home loans are a type of secured loan. These loans are secured by the residential property that the borrower bought with the loan money. The home loan lender keeps the property papers with them until the borrower has repaid their loan in full. Once the home loan borrower has entirely repaid the principal amount along with interest, the lender removes the lien of hypothecation from … Continue reading Demystifying the Home Loan Process: A Step-by-Step Guide to Secure Your Dream Home

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Home Loan

Understanding Repo Rate: Impact on Home Loans and Borrowing Costs

Lenders across the country borrow funds from the Reserve Bank of India for lending purposes. Now, lenders can borrow money without pledging any security or by pledging government securities, such as cash and gold. When commercial lenders borrow money by pledging government securities, the Reserve Bank of India charges interest in the form of the Repo Rate. Repo is the short form for Repurchase Agreement. … Continue reading Understanding Repo Rate: Impact on Home Loans and Borrowing Costs

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Home Loan

Everything to Know about Home Loan Top-Up

A home loan top-up is an added loan that borrowers can take on top of their existing home loan. It can be used for several purposes, like home renovation, consolidating high-interest debt, funding children’s education, etc. In India, financial institutions offer this credit at attractive interest rates. This article will offer a brief overview of all one needs to know about home loan top-ups and … Continue reading Everything to Know about Home Loan Top-Up

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Home Loan

Home Loan Tax Benefits: How to Save Money on Your Taxes with a Home Loan

Home loans offer several tax benefits. Unfortunately, not many home loan borrowers are aware of these benefits even when an individual can claim several tax deductions and save a considerable amount in taxes each year. In this article, we look at home loan tax benefits available to home loan borrowers.  1. Home Loan Tax Benefits Discussed Under Section 80C  Under Section 80C of the Income … Continue reading Home Loan Tax Benefits: How to Save Money on Your Taxes with a Home Loan

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Home Loan

Legal Actions for Home Loan Defaulters: Know Your Rights

For many people, owning a home is a major achievement. Home loans play a vital role in helping individuals realize this dream. However, unexpected circumstances can make it challenging to repay the loan, leading to default. In such situations, it is crucial to understand your rights and the legal actions that lenders can take. This article aims to provide clear information about the rights of … Continue reading Legal Actions for Home Loan Defaulters: Know Your Rights

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