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A home loan is a secured loan provided by banks and financial institutions to individuals for the purpose of buying or constructing a residential property. The loan amount, interest rate, and repayment tenure are determined by various factors such as the borrower's income, credit history, and the property's value.
Read moreReplied by Shobha Ray On 4/7/2023
Home loan EMI payments for under-construction properties typically begin after the project is completed or a certain period after loan disbursement, whichever comes first. During this period, which is commonl...
Replied by Priyaka Zacharia On 5/7/2023
A home loan in India provides several tax benefits to the borrower. Section 80C of the Income Tax Act allows you to deduct the principal repayment amount up to Rs...
Replied by Sookraj Chopra On 5/7/2023
To check the status of your SBI home loan application in India, log in to your account on the SBI website. Then, in the Track Your Application section, enter you...
Replied by Vyan Anand On 6/7/2023
ESBTR, or Electronic Secured Bank and Treasury Receipt, is a digital receipt generated in certain Indian states following the successful registration of a property transaction, including home loans. It serve...
Replied by Soumya Thakur On 4/7/2023
A pensioner can obtain a home loan. Many banks and financial institutions provide home loans to retirees who have a consistent source of pension income. The loan amount, on th...
Replied by Ritujeet Chandra On 6/7/2023
To transfer a home loan to another person, the existing borrower must notify the bank of the transfer request and submit all necessary documents, including a letter of consent fro...
Replied by Vir Dhillon On 5/7/2023
As a retirement savings instrument, it is not advisable to withdraw PF (Provident Fund) for a home loan. Withdrawing PF may result in a shortfall in retirement funds and ma...
Replied by Sudesha Balakrishna On 4/7/2023
To close your home loan early in India, you must first determine whether your lender allows prepayment and foreclosure. If permitted, you may make a partial or full lump su...
Replied by Taradhish Thakur On 3/7/2023
A co-applicant for a home loan is someone who applies for the loan with the primary borrower and is jointly liable for repayment. Co-applicants for a home loan are typicall...
Replied by Dwijendra Kashyap On 5/7/2023
Yes, a husband can borrow money against his wife home. In such cases, however, the wife must be a co-borrower because her property will be used as collateral for th...
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