Manage Home Loan with Easy EMI

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Loan on Property
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Manage Home Loan with Easy EMI
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• Home Loan is a Secured loan offered against the
  security of a house/property which is funded by
  the bank, the property could be a personal
  property or a commercial one.
• It is a loan taken by a borrower from the bank
  issued against the property/security intended to
  be bought on the part by the borrower giving the
  banker a conditional ownership over the property
  i.e.
• if the borrower is failed to pay back the loan,
  the banker can retrieve the lent money by selling
  the property.

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• Interest rates on home loans for new consumers
  have come down by around four per cent since
  September 2008 but consumers who had the
  misfortune to take their loan before that have
  only seen their rates drop by around 1.50 per
  cent to 2.25 per cent.
• Loan on Property can primarily be classified into
  two categories on the basis of interest rates
  i.e. fixed rate and floating rate of interest. 

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• Home loans are repaid through monthly
  installments (EMI) spread over up to 20 years.
• Some of the banks provide housing loans even for
  a tenure extending up to 25 - 30 years.
• The maximum tenure of any loan and home loan
  specifically is also restricted by the borrower's
  age at the end of the tenure so as to ensure that
  the loan gets fully paid by or before the
  retirement age.
• Source http//www.sooperarticles.com/finance-art
  icles/loans-articles/manage-home-loan-easy-emi-133
  0564.html?

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