Date:
Name:
E-mail:

Message:

City: Bangalore
Employement Status: Salaried
Earning Members: 1
Dependants: 3
Net Salary: Rs. 65000
Assets
Property: Rented
Vehicle: Financed
Other Assets: Do not own
Loan Details
Loan Type: Twowheeler Car Loan
Loan Amount: Rs. 425000
Tenure: 60
Emi: 8775
ROI: 10
Emi Paid: 351000

Loan Type: Personal Loan
Loan Amount: Rs. 325000
Tenure: 48
Emi: 9046
ROI: 16
Emi Paid: 334702

Card Details
Payment Due Status: Full Payment
Outstanding on Card: 36000

Query: My wife is pregnant and the due date is next month. To meet the medical expenses & expenses of the newborn, I am looking to go for a personal loan. However I am also keen on buying my own house, and hence want to go for a home loan too (may be within a year). Please advice what is the right approach. I have just around 50K in my emergency fund (alternate savings account).

Date:

Message:

Dear

Try to take a Top Up on your existing Car Loan and with the amount you can meet your medical expenses.

Many Congratulations in advance for the new member in the family.

Please revert with any clarifications on the above answer.

Date:

Message:

Dear Mr. Amitoj Sethi,

Thank you for your reply. But I am not clear how to apply for a "top up" on existing car loan. Should I approach the same bank and ask for a top-up? But what can I quote as the reason? And what would be the ROI?

Thanks,

Date:

Message:

Dear

Its really easy to apply for a Top Up, you need to approach to the same Bank from where you have taken the Car Loan.You need to take care of the ROI part of the loan, as it depends upon the Bank that at the time of Top up how much roi they will charge from you.

Please revert with any clarifications on the above answer.