Ask me anything about Home loans, Business loans & loans against property.

[zacobite]

Hi!
My family have taken a home loan. And they are saying that right now they are only paying the interest of the loan monthly. The emi will be started after the bank office capture the photo of the home.
Is there anything like this.
Can you tell me in detail

Possible.. full emi starts on completion of home generally.. but there is no such rule

 

[ercse.ankitjain]

Can you please let me know what is the rate of interest for non residential peoperty, also let me know whether insurance is compulsory for non residential property loan or not.

 

[zacobite]

Can you please let me know what is the rate of interest for non residential peoperty, also let me know whether insurance is compulsory for non residential property loan or not.

commercial or land?

 

[pdevraj22]

I applied for mudra loan through jansamarth portal & selected PNB @ 10.50%. I have submitted all the documents on 27/08/24 at the branch. I reached him after 1 week he says that application hasn't reached yet in our system it will show after few more days then we can proceed. Please tell me what's the system?

 

[ercse.ankitjain]

commercial or land?

Commercial

 

[zacobite]

Commercial

9.5 % upwards depending on bank / profile of customer and property.. Insurance is never compulsory.. some. banks mandate it..

 

[MINAKSHI]

Hi, I am having home loan from Canara bank for roi 9.35%, and loan amount is 48L and duration is for 20 years in that , its been 4 years since I am paying emi, but till now I haven't paid any extra emi or lumpsum payment, my emi comes around 45000, since bank has increased roi due to increase in RBI repo rate, so I was thinking to transfer the loan to diff bank which offers less interest, but someone told that now if we switch again I need to bear all the charges which almost comes to the same amount which I save in paying interests, so what would be best approach

And also bank has forcefully given insurance against home loan at the same roi

Approch canara Bank at apply for concession in existing HL. Bank will reduce your emi @8.50 approx