When will bank return the securities after closure of loan ?

How much time bank would take in returning the title deeds /securities after closure of loan. Banks should return all the securities / documents/title deeds

Do I need to Insure the Loan from Bank ?

Insure the Loan from Bank – Yes. One will have to insure the property etc. as required by the bank during the tenure of the

What is Collateral Security ?

Collateral Security – This is generally defined as additional security borrower offers a lender to secure a loan. Banks may take some additional securities which are called

Is there any Penal Charge for Prepayment of Loan ?

Penal Charge for Prepayment of Loan  – Yes, most banks allow you to repay the loan ahead of schedule by making lump sum payments. However,

What is Interest Rate Reset Clause ?

Interest Rate Reset Clause – An ‘interest rate re-set’ clause allows a bank to review and reset rates at the end of a specified period

What is Fixed Interest Rate ?

Fixed Interest Rate – An interest rate on a loan / credit facility that remains fixed either for the entire term of the loan or

Why To Choose Floating Rate of Interest ?

If one has opted for a loan at floating rate of interest he / she needs to know about Floating Rate of Interest. Check out the

What is Floating Rate of Interest ?

Floating Rate of Interest -A floating interest rate is a variable interest rate which can change over the duration of the loan / credit facility.