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Obtaining a NOC is a most important foreclosure procedure which is as important as availing a housing loan. Many borrowers sit back after paying their last home loan EMI unaware of the fact that the home loan is not yet closed unless it is legally documented by the lender. NOC is this legal document which …
The term NOC letter is well known to all home loan borrowers who have availed the home loan from the lender Banks/NBFCs/HFCs. Undoubtedly, they must also be well-versed with the fact- what NOC stands for and its significance in home loan. Irrespective of the NOC certificate’s significant role in the home loan, we find very …
The term housing loan provisional certificate sounds familiar, especially when the Chartered Accountant (CA) demands the home loan interest certificate for income tax filing. Home loan tax certificate or a provisional home loan interest certificate is nothing but a housing loan statement indicative of the loan repayments made or to be made by the home …
While everything around is changing and meliorating rapidly, how can the home loan industry lag? ……………………………… For online home loan processing, all you need is an internet connection and a machine (laptop/desktops/computers/mobile phones). In today’s scenario we cannot imagine a life without technology. It is this technology that has eased the life of a common …
Home Loan Tax Benefit In India Is Available For Both Housing Loan Interest And Principal Deduction Under Section 24(b), 80C, 80CCE & Section 80EE Of Income Tax Act 1961. Income Tax Rebate On Home Loan For FY 2020-2021 The 2020 financial budget has not altered the housing loan tax rebates for the home loan borrowers …
Commercial Property Loans @ lowest interest rates with ICICI Bank starting from 8% p.a. with extended loan tenure of up-to 20 years. Introduction: What is Commercial Loan? A loan taken to purchase a commercial property – office premises, shop, factory, industrial unit, manufacturing unit, gala & commercial plot loan/ commercial land loan, loan for construction …
When a borrower’s home loan application gets approved by the bank, the bank intimates the borrower of the loan approval by issuing a SANCTION LETTER. The sanction letter so provided mentions all the facts, figures (loan amount), conditions as well as the PSD conditions including the banking terms and policies about the rate of interest. Let us …
Amit applies with bank for his home loan requirement. Apparently his loan application gets rejected on account of poor CIBIL record. Amit never bothered to check nor did he keep track of his CIBIL history until recently when he faced rejection for his home loan requirement. Like Amit there are many who do not bother …
In home loan industry the term home loan refinancing is used in two contexts. 1) Home loan balance transfer 2) Funding on the already purchased residential property 1) Home Loan Balance Transfer When a home loan is transferred from an existing lender Bank/NBFC to a new lender Bank/NBFC, it is called as a home loan …
Defining NRI We all know that NRI stands for Non-Resident Indian. But the official definition of NRI as per India’s Foreign Exchange Management Act 1999 (FEMA) defines NRI as, “an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate …