Your Query: look for any pre-payment clause in car finance

Your Query: look for any pre-payment clause in car finance

That you are taking the responsibility of EMIs on his behalf if you want to help your brother with the loan, remember.

In an auto loan, can there be any pre-payment clause?–Mayank Bhardwaj

Yes, often there are prepayment limitations car loans, particularly within the couple that is first of. Nevertheless, the charges vary by loan provider, term expired, loan outstanding along with your creditworthiness. Please browse the information on your vehicle loan sanction page to find out of the costs.

We had taken loan of Rs 23 lakh from HDFC Bank in addition to month-to-month EMI is Rs 18,500. I’ve not taken PMAY subsidy. I do want to increase my EMI to Rs 27,000 and do prepayment of Rs 5 lakh. Am I going to nevertheless be entitled to PMAY subsidy? —Abhay Singh

You may get it now if you satisfy the conditions of PMAY subsidy. But, component prepayment or repayment that is full extremely hard without reimbursement of PV of future subsidy currently availed during the time of sanction.

My buddy would like to buy a property but he won’t have regular income. Can I borrow the funds through the bank and present it to him to purchase the house?

—Deepak Kumar Soni

Banking institutions will give consideration to loans to individuals without regular wage when they can substantiate their over-all income that is steady the supporting ITR for 3-5 years. Lire la suite