Insurance and Loan Harassment in Insurance Companies and Banks

[vignesh2014]

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As though middle class is the only cursed being, they say some sugary words and ask them to put some personal loan or house loan ...after that private banks charge more on flexi interests instead of EMI. Even when one salary is less, in order to sanction loan, they ask to put insurance premium plan for longer terms even though we have already taken plans. I expect the honourable members to discuss in this regard as this is a very serious issue. Even a Movie Came about this as "MAHAN KANAKKU" and even the private banks are made mockery like "OCOC" bank in several movies.

 

[krish44]

Actually it is pretty easy to buy a flat on loan
only simple precautions and thumb rules
always have 40-50 percent cash in hand before venturing into purchase

have a repay of 7 to 10 years

also ensure rental value of flat to be purchsed covers 70 percent of loan repayment

check your cibil rating before applying for loan

also ensure you get the flat possession in 15 months or so to avoid high interest on loans;

insurance to cover loans you can take after taking possession of flat.

happy hunting

 

[vignesh2014]

Dear Sir,
Thanks for the same. What is cibil rating..can you just explain...it will be very useful

vignesh