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loan against educational certificate


Loan Faqs
Faq

Can I take a loan against another property if I have a home loan from a bank? :

Yes, some banks offer this facility to take a loan against any other property. For inquiry contact the home loan lending bank.
Faq

What is a fixed rate loan against property? :

In a fixed rate loan against property the interest rate on loan against property charged by the bank is constant over the tenure of the loan. You should go for a fixed rate only if you feel that the rate of interest prevailing in the market have touched rock bottom and the rates can only move...
Faq

How to foreclose the loan against property? :

The loan against property can be foreclosed by approaching the lending bank. You have to issue a issue a cheque favoring the bank, upon clearance of which the documents will be released for that loan. Kindly note that banks change a small amount of fee for foreclosing a loan against property.
Faq

Why should I take a loan against property? :

You can take a loan against property for any reason like getting your son or daughter married, expanding your business, taking a foreign vacation and sending your children to overseas for study. It is a secured multi-purpose loan with longer tenure and lesser rate of interest than a personal loan.
Faq

What is the eligibility criteria to get a loan against property? :

Anyone can get a loan against property given the person has a minimum age of 21 years, employed or self-employed with a regular income and is owner of a property.
Faq

What is a floating rate loan against property? :

In a floating rate loan against property the interest rate charged by the lender keeps changing with respect to the rates in the market over the tenure of the loan. Normally the rate charged is on the basis of their cost of funds and the prevailing market rates. These rates change periodically....
Faq

Can I avail of fixed or floating rate loan? :

 You can go for either fixed or floating rate loan against property.
Faq

How much loan can I get? :

The exact amount of loan against property given to you depends on factors including your income, repayment capacity and your past credit history.  It also depends on the number of dependents, assets, liabilities, stability/ continuity of your employment/ business and the co-applicant's...
Faq

How the valuation of my property will be determined? :

The value of your property will be determined by the bank offering you the loan against property.
Faq

What is an amortization schedule? :

 An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the breakup of every EMI towards repayment interest and outstanding principal of your loan.
Faq

What are the acceptable collaterals for taking an educational Loan? :

Collaterals are required only for educational Loans above Rs.7.5 lakhs. The acceptable collaterals are: Fixed deposits Property (Residential



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