Date: 2009-08-27 21:59:18
Name:
Message:
City: Pune
Employement Status: Salaried
Date of Birth: 09-02-1981
Earning Members: 2
Dependants: -1
Net Salary: Rs. 37000
Assets
Property: Rented
Vehicle: Owned
Other Assets: Do not own
Loan Details
Loan Type: Personal Loan
Loan Amount: Rs. 320000
Tenure: 60
Emi: 7780
ROI: 16
Emi Paid: 24
Loan Type: Personal Loan
Loan Amount: Rs. 200000
Tenure: 48
Emi: 6000
ROI: 19
Emi Paid: 24
Card Details
Payment Due Status: Full Payment
Outstanding on Card: 15000
Query: Hi.. I have 2 personal loans and details as provided above..I want to go for home loan..but will my personal loan EMI affect my eligibility for home loan? How can I clear my personal loans early? I am also paying rent for my home. I and my father are earning in house.
Date: 2009-08-29 10:53:35
Message:
Dear
The loans will effect your Home Loan eligibility.Try to close one of your Personal Loan.
Also to increase your Home Loan eligibility you can add your father's income.It will definitely increase your eligibility.
Please revert with any clarifications on the above answer.
Date: 2009-08-29 14:19:45
Message:
Hello sir,
Thanks for your reply. Is it ok to take a top up on one loan to close another one with high interest rate? This will save one EMI.
Date: 2009-08-31 09:45:39
Message:
Dear
You need to check on the rate of interest for this, while taking top up you should keep this thing in mind that the emi should be not be on a higher side.
Please revert with any clarifications on the above answer.
Date: 2009-08-31 19:54:22
Message:
Thank you sir for your reply.
I may get a topup with 16% ROI. For my 2nd personal loan now 1.2 lac is outstanding on principal. I am planning to close this account as it has 19% ROI.
After taking topup of 1 Lac, my first loan will again be of 3,20,000. And this time instead of 5yrs, i intend to go for 4yrs loan. The EMI would go around 9200. This first loan also gives me provision of making part prepayments without any charge.
Do you think I shuld go with this ?
Date: 2009-09-01 17:30:35
Message:
Dear
If there wont be any prepayment charges then you can close loan.
Please revert with any clarifications on the above answer.