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...

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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...

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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...

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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,...

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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...

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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...

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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...

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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....

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