Quote:
Originally Posted by longlast  Thanks Yaar for the information,,
Can you tell me one more thing ,,what would be the EMI for 5-7 years for a sum of 4.5L.
Is it necessary to have an account in the bank to avail loan facility.
Waitin for your response... |
Hi Longlast,
I am extremely sorry for late reply. First of all, its is not necessary at all to have an account with the bank to avail loan facility. Secondly, u have to decide that from which bank you are applying for loan. For eg., in Bank of Baroda interest rate for loan upto 4L is 11.5% and from 4 to 7.5, it's 13.5%. On the contrary, some bank have a slot of lower interest rate upto 4.5L. Anyways, coming to your query now. if you opt for repayment of your loan in 5 year, then EMI would be very less. Basically, it depends on bank to bank policies. I dont know whether i have posted about this earlier or not, but those who wanna apply for loan should approach Bank of India. Its interest rate upto 7.5L is 11% and secondly, NIA has tie-up with Bank of India.
Post here if you have any further queries..
Shalin Jain