Articles

Unexpected expenses may occur anytime, and you may be forced to borrow money to deal with a sudden unforeseen emergency. Loans are generally the most appropriate means to meet your financial needs. A home loan is another type of loan that you may have to opt for to own a home of your choice. Loans, whether personal or home, are offered against the payment of the principal amount and interest in equated monthly instalments (EMI).

Most people depend on loans to realize their financial dreams. One of the criteria for the eligibility for a personal loan is an ideal CIBIL score. A person’s lending records are maintained by credit reporting agencies, especially CIBIL, which is an acronym for Credit Information Bureau of India Limited. A CIBIL score is a three-digit number derived using an individual’s credit payment history from banks and other financial institutions.

Digitization has paved the way for net banking and mobile banking, which have revolutionized the banking industry. An initiative by the Government of India in 2010 for a unique identification number for every citizen after capturing and storing their biometric values resulted in an Aadhaar card with a 12-digit number. An Aadhaar gives access to various services offered by banks, other than the benefits offered by the government.

There are times when you have to borrow money to meet unprecedented expenses. You take a personal loan from financial institutions like a bank on the condition of paying it in equated monthly instalments (EMI) for certain number of years. Your situation changes, and you find it difficult to repay the loan for some genuine reasons.

Your home is a place that gives you a sense of comfort and feeling, a space where you spend precious moments with your loved ones. And that is precisely why your home needs to be both aesthetically appealing and comfortable at the same time.

Are you planning to buy a home and apply for a home loan? Are you confused about which documents are required for a home loan in 2022 and the home loan eligibility criteria for a salaried person?

A housing loan, often known as a mortgage, is a sum of money obtained by an individual, typically from lending organizations. The borrower is required to repay the loan amount plus interest in Equated Monthly Instalments (EMIs) over a period of time. ICICI HFC is known for its innovative and affordable housing loans. Financing can be obtained for up to 80% - 90% of the market value of the home.

Getting a home loan is an integral step toward acquiring the home of your dreams. It is the determining step between you and your dream home. To get a home loan with ICICI HFC, a person just has to complete some formalities with the bank, and the loan will get sanctioned within 3 to 5 days.

Fixed deposits are a safe way of investing as they ensure constant stable interest rates, special interest rates for senior citizens, a variety of interest payment methods, no market risks, and income tax benefits.Fixed deposit accounts are appropriate for those people who are risk averse in terms of their investments. In fixed deposits, the interest is accumulated on the deposited amount over a stipulated period of time raning from monthly, quarterly and yearly. The interest rate on deposits ranges from 3% p.a. to 9.54 % p.a. depending upon the tenure.

A home loan, often known as a mortgage, is a sum of money obtained by an individual, typically from banks and lending institutions. The borrower is required to repay the loan amount plus interest in Equated Monthly Instalments (EMIs) over a period of time that can range from 10 to 30 years, depending on the type of the loan and the company’s policy. A lower CIBIL score can be a hurdle for many individuals looking for home loans.

A mandate is an authorization provided by the customer to allow automatic deduction of funds (EMI payments) from their bank account. The mandate cancellation process is initiated when a customer wishes to stop this automatic deduction. This may be required due to loan closure, changes in payment bank/ repayment account, or other. Once the mandate is cancelled, future automatic deductions from the customer’s bank account will cease.