Home Loan Process is not that difficult as it is perceived. There is a famous proverb that “Well begun is half done”. The same goes for Home Loan Process. Most of the potential borrowers stuck on how to initiate Home Loan Process. You can apply for Home Loan with or without finalizing the Property. To kick start Home Loan Process, follow these simple steps Step 1: Self Assessment Before starting Home Loan Process, visit the website of a Bank / HFC (Housing Finance Company) for the list of documents required. You may collect list of documents from Branch. For simplicity purpose, i will refer ... Read More
11 Tips to Avoid Credit Card Fraud
Credit Card Fraud is a harsh reality of digital age. Though in India, Reserve Bank of India (RBI) has done a commendable job to avoid credit card fraud. Some of the path breaking steps taken by RBI are 1. Two level authentication for online transactions. 1st level when you enter Credit Card details & CVV. 2nd level authentication is implementation of 3D Secure Code (Verified by VISA and Mastercard SecureCode) 2. Issuance of EMV Chip & PIN enabled Credit Cards 3. Option to select / set limit for International usage 4. Data Security standards for POS Terminals 5. SMS Alert to ... Read More
Five Shocks of Home Loan Application
Life is full of Shocks so as Home Loan Application. Its a universal truth that Home Loan is most preferred source of funding to buy a property. Newspaper is full of Ads where banks are luring the customers by offering attractive Interest rates or waiving off Processing fees. Prime facie its look like child's play to avail Home Loan and buy your dream house but its not true. You can also check post on How to Buy House with Home Loan World is not so simple as it looks. The first step of buying a house through Home Loan is to apply for Home Loan & for that you need to submit Home Loan ... Read More
How to Buy House with Home Loan
To Buy House with Home Loan is quite tedious & exhaustive process. Buying a house itself is a major financial decision. Some people delay this decision as they would like to buy their first property from own funding. Best bet is to buy house with home loan. Reason being property prices keep increasing and secondly, during the later part of life financial commitments will increase. When i bought a house, i struggled to understand steps to buy house with home loan. After going through this cycle, now i am in a position to explain step by step process how to buy house with home loan. Step 1: ... Read More
5 Tips to Improve CIBIL Score
One of my reader Mr. Anil Gupta (Name Changed) from Jaipur sent me a query on how to improve CIBIL Score. I must say that there is no scientific formulae to improve credit score. Only Brahamastra to improve CIBIL score is to follow financial discipline & maintain healthy Credit Portfolio. Lot of my readers have availed paid services of some online portals to improve CIBIL Score but trust me none of them can help you to improve CIBIL score immediately. These portals only fool customers. Only Right advice & Credit guidance can help. Lets understand from following case study of Mr. Gupta, ... Read More
Why Home Loan Closure Adversely Impact CIBIL Score
As i mentioned in my earlier posts that Home Loan is a secured loan and it impacts your CIBIL Score positively i.e. after availaing Home Loan, your CIBIL Score will increase because of its secured nature. Contrary to popular belief, closure of Home Loan negatively impact CIBIL Score. Let's understand why Recently i cleared my Home Loan and i was very happy about this fact but this happiness was short lived. As i mentioned in one of my article Home Loan Closure - 5 Important Points that it is very imp to check that your Home Loan account is closed by lender in CIBIL Score database after Home ... Read More
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