CA Final Download the best Free CA FINAL android app for cracking your exam! Download Now
They are the best ca final faculties in India. They have produced many toppers & rank holders. Their video classes are available only here -
CHECK VIDEO CLASSES HERE

Property or Mortgage Loan from Banks

Property or Mortgage Loan from Banks

Property or Mortgage Loan from Banks

Banks sanction property loans against mortgage of an immovable property.

Purpose

Property loan is an all purpose loan, i.e., the loan can be obtained for any legitimate purpose whatsoever like meeting expenses of a Marriage ceremony, a sudden medical emergency, business requirements, buying a property or any other asset etc. The rate of interest, terms and conditions and charges for the loan vary from bank to bank.

Eligibility

A regular source of income to service the loan and ownership of an immovable property which can be mortgaged to the bank as security for the loan.

Amount of Loan

The amount of loan is linked to your repayment capacity and the market value of the property mortgaged to the bank. Banks generally ask for 50-60% as margin on the value of property to be mortgaged.

Rate of Interest

Varies from Bank to bank

Repayment

60 to 120 months

Processing and Other Charges

Incidence and amount of Processing and other charges vary from bank to bank.

It is suggested that before finalising your deal for property or mortgage loan with a bank, you make detailed enquiries from various banks regarding the rate of interest, processing charges, prepayment charges and other charges. An informed decision will result in substantial saving in the cost of the loan.

Property or Mortgage Loan from Banks

CAKARt

CAKART

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.

.

www.cakart.in.

Click Here to download FREE CA CS CMA Text Books.

Leave a comment

Your email address will not be published. Required fields are marked *