Home Loan Archive

Debt To Income (DTI) Ratio : Calculation Formula, Types and Limitations
November 20, 2024

Better debt management is crucial to avail of the available financial opportunities. Whether you wish to secure a personal loan, business loan, home loan, or even credit card, lenders have various metrics to determine your creditworthiness. One such metric they consider is your Debt-to-Income ratio (DTI). A good DTI ratio…
Transferring Your Home Loan to a New Bank : A Step-by-Step Guide
September 17, 2024

Transferring a home loan from one bank to another, commonly known as a home loan balance transfer, is a healthy financial move that can lead to significant savings and better loan terms. This process involves moving your outstanding loan balance to a new lender offering lower interest rates or more…
Understanding The Hidden Charges in Home Loans
September 17, 2024

Purchasing a home is a dream for many, but understanding the applicable fees and charges is wise before applying for a home loan. Before picking out the comfy furniture and planning the home's interiors, it is best to check the associated fees and charges on the home loan. Generally, a…
All About NBFC Home Loans
September 17, 2024

Non-Banking Financial Companies (NBFCs) have become a popular choice for home loans in India. They offer flexibility, faster processing, and competitive interest rates, making them a good alternative to traditional banks. Moreover, NBFCs cater to a wide range of customers, including those with lower credit scores, making homeownership accessible to…
Home Loan vs Loan Against Property
September 05, 2024

Two options that are frequently considered when it comes to financing are a home loan and a loan against property. Both provide significant financial assistance, but they have different uses and have different terms and restrictions. Making an informed choice based on your unique needs requires knowing the main distinctions…
Everything You Need to Know About Cersai Charges For Home Loan
September 05, 2024

CERSAI charges are fees you pay when taking a home loan to register your property with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI). This helps prevent fraud and ensures your loan details are transparent. For instance, if you get a home loan from SBI,…
Second Home Loan Tax Benefits
September 04, 2024

Home Loans offer many attractive features. Unlike other types of loans, they feature lower interest rates, longer repayment terms, moderate eligibility criteria, and associated tax benefits. Though home loan borrowers know these benefits, many buyers doubt whether tax benefits on such loans are allowed if taken for the second time.…
Everything You Need to Know About Prime Lending Rates in India
August 27, 2024

It is important for anyone considering obtaining a home loan in India to be informed about the Prime Lending Rate (PLR) and other benchmark rates, such as the MCLR, Base Rate, and Repo Rate. Because they determine the interest rates on various loans, these rates have a big influence on…
All About Franking Charges
August 27, 2024

With numerous extra charges and long documentation processes, getting a home loan to build your dream house can be daunting. However, with proper preparation and deep knowledge of all property-related expenses, you can avoid getting into trouble due to a lack of appropriate documents. Many people confuse stand-duty charges with…
Annual Percentage Rate (APR) - Definition, Meaning with Calculation Formula
August 23, 2024

A loan from any institution is a significant financial move that can affect you and your loved ones. While many banking institutions advertise a provisional interest rate on the borrowed amount, an Annual Percentage Rate helps discover the true expenditure and various annual charges. This amount enables you to budget…