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| Posted: 15 Dec 2014 03:54 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
Facts of home loans
In a very real way, the home loan is the driving force behind the Indian residential real estate market. Without a home loan, a large portion of the Indian population would be forced to live in rental houses. Because of this facility, one can be a proud home owner without having to have enormous amounts of ready cash. Since they play an extremely vital role in sustaining the real estate market, it is not only home buyers who depend on home loans, but developers as well.
To clear up a common misconception – home loans are not available only for the purchase of a house. One can avail of such financing to buy land and to construct on it, and also to renovate an existing property. Of course, there are lending norms attached to the granting of a home loan. A bank will usually lend between 75-80% of the agreement value, and the borrower has to provide the rest from personal resources. To clarify - while the RBI stipulates a ceiling of 75%, some banks are willing to include the stamp duty and registration charges within the purview of the loan, which technically makes the loaned amount 80% of the agreement value.
The lending rate attached to the home loan also changes from time to time, depending on how the economy is faring and how much liquidity exists on the market.
A borrower will qualify for home finance if he or she meets certain baseline requirements. The parameters on which a potential borrower's eligibility for a home loan is determined include employment status, duration of current employment, personal income and credit status. The credit history of an intending borrower is particularly important to banks, who need to verify whether there is any record of default with another financial institution. The existence of other loans, the type and age of property and overall transparency of the proposed purchase are also taken into account.
Most banks also require that the borrower take out an insurance policy to protect the home loan. This is to ensure that they will get their money back if the borrower dies or is for some other reason incapable of servicing his or her loan. After all, such an agreement between borrower and lender is over extended periods of time. A home loan is generally repaid over several years, unless the borrower finds the financial means to prepay it in part of in totality.
While all this may sound complicated to first-time borrowers, getting home finance is actually not very difficult. As long as the borrower is eligible for it, such a loan is usually made available. After all, banks depend a lot on the interest generated by home loans, and are willing to extend home loans in most cases. The challenge for the borrower lies in getting the best possible repayment terms of such a loan. These may vary bank to bank, and it is wise to shop around for the most suitable home loan before settling on a final option. There is a lot of information on home loans and current lending norms of various banks floating around. However, those who are unfamiliar with banking processes are advised to consult an expert. Figures on the Internet may often be outdated or misleading, and there are various legal aspects to consider. Opting for home finance without a proper understanding of all related aspects could therefore be a cause for regret later on.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF | |
| ULIPs - How to claim death benefits Posted: 15 Dec 2014 02:46 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
ULIPs - How to claim death benefits
The unit-linked insurance plans (Ulips) provide both death and maturity benefits to the policyholder. If he dies during the term of the policy, the beneficiary will receive one of these: sum assured, the higher of the fund value and sum assured, or sum assured and the value of the fund, depending on the terms of the policy. Such proceeds from the insurance company are tax-free.
Intimation
In the event of the death of the insured during the term of the policy, the nominee has to formally communicate the same to the insurance firm.
Claim form
A claim form has to be filled and submitted to the insurance company with the required documents for the claim to be formally registered. The form comprises particulars of the insured, details of death and basic information about the claimant.
Documents
The claimant must provide the origi nal policy document, copies of death certificate, claimant's photo ID and address proof, police FIR and post mortem report in case of accidental death, and certificate and medical records from the doctor hospital in case of death due to illness.
Settlement
As per IRDA regulations, the insurer can seek clarifications within 15 days and settle a claim within 30 days of receipt of all documents. In case any investigation is required, the proceedings should be completed within 180 days.
IRDA mandates that all claim payments to the policyholders be made only through electronic modes.
Insurance companies may set up their internal timelines, which are typically shorter than IRDA timelines.
The insurance company can reject claims on two grounds--misrepresenta tion of facts and non-disclosure of key information that could impact the underwriter's decision. For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF | |
| HDFC Capital Protection Oriented Fund Posted: 15 Dec 2014 01:54 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
HDFC Capital Protection Oriented Fund
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF |
(BLUE)
(YELLOW) investors understand that their principal will be at medium risk.
(BROWN) investors understand that their principal will be at high risk.
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