Eligibility criteria, features and benefits of top-up loan

Do you have an ongoing home loan that you are paying a large interest amount on and want to cover your different needs without managing larger interest rates? If yes, you can switch your home loan to another lender offering a lower rate. This way, not only your home loan interest rate will come down, helping you pay lower EMIs, but even a top up loan. A top up loan will help you manage all other needs at a lower rate and a longer tenor. Let’s...

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To Do-list for Availing Home Loan at Lowest Interest Rates

Home loans are unsecured debts that come with a lower rate of interest. Still, since it is a long-term obligation, many people pay extra interest charges. But it is possible to opt for a lowest home loan interest rate after following a few handy tips. Read on!Here’s how you can enjoy lower home loan interest ratesBegin with a higher down paymentThe first thing you can do to lower your home loan interest rates is by putting down a higher...

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Follow These Easy Steps to Reduce Your Home Loan EMI in 2021

The process to compare different lenders and opting for the lowest interest rates is inevitably the modus operandi of most borrowers while availing a home loan. In order to help prospective borrowers out, most financial institutions offer a home loan EMI calculator where one can check the EMI payable beforehand and check if the same matches his/her repayment capacity. In case you think that the Equated Monthly Instalments will put severe stress...

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Important Documents Required for Home Loan Refinance

Many a time, individuals can suffer from sudden financial crises, making it difficult for them to sustain their current home loan repayment. Borrowers can also find themselves stuck with a high interest housing loan while current market rates have lowered. Under such circumstances, they can transfer their outstanding amount to a lender offering lower interest rates along with better offers like a top up loan. However, there are certain mandatory...

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Important Factors You Should Know Before Taking aTop-Up Loan on a Home Loan

 With a top-up loan, which is usually available during home loan balance transfer, a lender extends an additional credit line over and above the existing loan amount. Such credit is usually available at an easy rate of interest. Nonetheless, there are a few important factors that borrowers should keep in mind before availing a top up loan on home loan –Conditions to avail it To be eligible for such an additional loan amount, borrowers need...

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Documents Required for Home Loan Refinancing

Individuals looking to avail a lower interest rate on their existing housing loan have the option of transferring the outstanding balance to a new lender. However, one needs to submit a few documents to initiate this home loan balance transfer process -Consent letter An existing borrower needs to put in a written application to the current lender intimating about the balance transfer and issuance of consent letter for the same. No Objection CertificateOne has to obtain NOC from the present financial institution that indicates assent to...

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