your queries – loans: make element-bills on domestic loan as early as possible

an education mortgage compensation is the obligation of the scholar and not the co-applicant, the parent.

if i must do part charge of my domestic loan, have to i do it in the first week of the month to reduce the simple hobby payout?
— akash thakur

maximum of the house loans are on a day by day lowering balance, so it would no longer remember which date you chose for part payment. the earliest the better. however, if your home mortgage is on a month-to-month reducing balance, then higher to pay it before the seventh of the month.

final year, i had availed a top-up loan. now, i’ve got some quantity from the proceeds of an investment. need to i use it to prepay a part of the loan?
— pr sagar

if the amount you acquired is surplus finances that you are feeling that if invested, will fetch a lower charge of return than the interest charged on your home loan, then move beforehand and decrease your loan legal responsibility.

is there any age limit for a determine to get an schooling loan? i’m able to retire next year, and my son desires price range to pursue an mba in eire. can i am getting a mortgage which i’m able to repay from condominium earnings i’m able to earn after retirement?
— pradeep singh

an schooling loan compensation is the responsibility of the student and now not the co-applicant, the discern. as an incomes figure, if you would like to pay the easy hobby accrues at the training mortgage, go in advance. however, after you retire, permit your son take care of the interest and important repayment from his personal earnings.

how do i get a loan towards my deposits and other securities which i do now not need to interrupt?
— alok verma
the technique would be distinctive for each safety. in case you have a financial institution fixed deposit, normally the identical financial institution will grant you an overdraft facility against that fd. the hobby price would be better than the fd price and is the incomes for the financial institution. when you have mutual budget, you could approach your banker to offer you a loan against the devices. here the margin could be higher and you may get handiest forty% or 50% of the price of the mfs. when you have a bond portfolio, the identical facility could be offered to you at a decrease margin, as the returns on bonds are constant.

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