Thursday, August 8, 2013

Home Loans in Bangalore



Mr. Kranthi Mohan a leading bank’s customer has filed a case against his home loan funded bank about not revealing complete details of repayment structure which affected him badly in the situation where he is not able to repay the home loan EMI’s in time due to job loss. Most of the customers who apply for home loans in Bangalore are always in a hurry to close the process with the pressure of the builder for their payment schedule.

A home loan is a product which banks offer customer to purchase a property with simple and affordable EMI’s with a maximum repayment period of 20 years. Home loans in Bangalore have seen a steep raise in their business with the increase in purchases of real estate properties. But having complete knowledge is most important than completing the process in time. Lets see where all the customers do mistakes when it comes to home loan and resolve the issues for hassle free process who wish to go for a loan to own their dream house

A home loan application will have two applicants in which most of the people feel and believe that co-applicant is not liable of repayment when only applicant income is considered. A co-applicant is equally liable as applicant even his/her income is considered or not. Now lets see the cases when the interest rates are going up, in this case a customer can opt for Fixed Rate of Interest by paying switching fee from Floating to fixed which can save considerable amount to customer. Banks will increase the tenure initially when there is a change in interest rates and when the repayment period crosses 300 months then banks increase the EMI. Customers can opt for increase in EMI amount at any point during the tenure which in turn reduces the repayment period thus reducing the interest paid to bank.

All banks/financial institutions offer Home loan linked life insurance with one time premium which cover the applicant’s life again the home loan. If any risk occurs to the applicant then the complete loan will be cleared by the insurance company and the documents will be released to co-applicant. All the customers are suggested to opt for Home loan linked insurance which is a cover in difficult situations.

Banks provide customers of some facilities like switching the home loan to other bank for better interest benefits, pre closing the loan, making part payment towards the home loan account amount of which will directly deducted from principal amounts, interest rates switching, Income Tax benefits on interest paid amounts etc. A simple ground work on these things will save huge amount which a customer pay due to lack of knowledge on the products.

2 comments:


  1. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius, call/whats-App Contact Number +918929509036 via email:(urgentloan22@gmail.com) Thank you.

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  2. Nice information on here, I would like to share with you all my experience trying to get a loan to expand my Clothing Business here in Malaysia. It was really hard on my business going down due to my little short time illness then when I got heal I needed a fund to set it up again for me to begin so I came across Mr Benjamin a loan consultant officer at Le_Meridian Funding Service He asked me of my business project and I told him i already owned One and i just needed loan of 200,000.00 USD he gave me form to fill and I did also he asked me of my Valid ID in few days They did the transfer and my loan was granted. I really want to appreciate there effort also try to get this to anyone looking for business loan or other financial issues to Contact Le_Meridian Funding Service On Email: lfdsloans@lemeridianfds.com / lfdsloans@outlook.com He also available on WhatsApp Contact:+1-9893943740.

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