The security documents need to be stamped as per the local stamp duty laws, please speak to your Relationship Manager regarding the stamp duty payable on your documents.
Loan repayment is through Standing Instruction/Letter of authority to debit your HSBC Savings/Current Account for the Equated Monthly Instalment (EMI).
Non Resident customers can repay home loans by one of the following modes only:
Debit to their NRE Account /NRO Account /Inward remittance / liquidation of FCNR/ sales proceeds of immovable property on which loan was granted / Close relative's* bank account
*Close relative as defined in Companies Act, 1956
Tax benefits: Please seek independent professional tax advice for any tax related issues and implications on/of your loan.
Below example highlights how the interest on your loan is calculated.
Note: Calculations for Rs. 25 lakh at an interest rate of 11.00% p.a. for 20 years. EMI is Rs. 26,165 which consists of interest and principal components as mentioned below:
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.
LaonMoney is an Authorized Direct Selling Agents of various National, Multinational and Non Banking Financial Companies for promoting their sales for asset division. Feel free to contact us at firstname.lastname@example.org or +91-8130 222 111 for Transparent and Fastest Processing of Loan.
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