If you would like assist your brother with all the loan, understand that you’re taking the obligation of EMIs on his behalf.
In car finance, can there be any pre-payment clause?–Mayank Bhardwaj
Yes, frequently there are prepayment limitations vehicle loans, particularly within the first few years. Nevertheless, the fees differ by loan provider, term expired, loan outstanding along with your creditworthiness. Please browse the information on your vehicle loan sanction letter to find out of the costs.
I had taken loan of Rs 23 lakh from HDFC Bank and also the EMI that is monthly is 18,500. We have maybe perhaps not taken PMAY subsidy. I do want to increase my EMI to Rs 27,000 and do prepayment of Rs 5 lakh. Am I going to nevertheless be qualified to receive PMAY subsidy? —Abhay Singh
In the event that you match the conditions of PMAY subsidy, you could get it now. Nevertheless, part prepayment or repayment that is full extremely hard without refund of PV of future subsidy currently availed during the time of sanction.
My cousin would like to purchase a residence but he doesn’t have salary that is regular. Can the money is borrowed by me through the bank and present it to him buying the house?
—Deepak Kumar Soni
Banking institutions will think about loans to individuals without regular salary should they can substantiate their over-all constant earnings with the supporting ITR for 3-5 years. That you are taking the responsibility of EMIs on his behalf if you want to help your brother with the loan, remember. (more…)