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 rdhanda
Joined: 31 Aug 2007
Posts: 5
3.44 Dollars($)
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 Posted: Fri Aug 31, 2007 8:16 pm Post subject: can u name companies provide mortgage in lesser rate than in |
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| I am asking about those financial institute which provide mortgage facilities in asian countries like india at lesser rate of interest than the rate provided by indian banks |
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Rosetta
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0.10 Dollars($)
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| Posted: Fri Aug 31, 2007 9:09 pm Post subject: |
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Hi Rdhanda,
Some of the foreign banks like ICICI and ABN Amro are providing loans in India at lower interest rates. You can go for loans from these banks. |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Fri Aug 31, 2007 9:48 pm Post subject: |
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Hello Rdhanda,
There are many banks in India like HSBC, HDFC, Standard Chartered and IDBI who offer home loans. But I am not aware of their rates. For that you need to contact with the bank officials as they will be able provide you the exact rates. |
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rajeevdhanda
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0.10 Dollars($)
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| Posted: Fri Aug 31, 2007 10:35 pm Post subject: mortgage |
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| Thanx for the PROMPT AND EFFICIENT reply.In India interest rates of these banks are very high and three months back under govt. policy they have increased the interest rates to 12-14 pc per annum which is quite high for a service class personnel like me.So I Would like to know is their any way I can get the same amount at lesser rate and that too lawfully and indian govt has no objection in getting that loan...tjhanx..rdhanda |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Fri Aug 31, 2007 11:55 pm Post subject: |
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Hi Rajeev,
In India, the financial institutions will generally look at the following qualifying factors before considering a home loan to you:
1) You must be 21 years of age.
2) You must have a regular monthly income.
3) You must be a salaried individual for the past few years.
4) You must have a clear title to the property.
After getting qualified for the loan, you need to negotiate the interest rates with any of these financial institutions. Only if they consider that you are financially unstable, they may offer you a loan with lower rate. |
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kevin12
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0.10 Dollars($)
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| Posted: Sat Sep 01, 2007 4:56 am Post subject: |
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"Only if they consider that you are financially unstable, they may offer you a loan with lower rate."
larry you mean if someone is financially unstable he can get low rate. but i knew one has to stable financilly to qualify for a low rate. confused?? |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Sat Sep 01, 2007 5:06 am Post subject: |
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Hi Kevin,
What I actually meant was that one can get a loan even with a low credit score. But because of his low score, he may get a loan with higher interest rate on it. |
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rdhanda
Joined: 31 Aug 2007
Posts: 5
3.44 Dollars($)
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| Posted: Sat Sep 01, 2007 10:42 pm Post subject: mortgage |
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Larry.
I mean to say any foreign inatitute which is not active in India can loan Indian people with low interest rates.There is large scope for such banks or instituitions as rules in INDIA are very time consuming and have to go
for lot of paperworks...Rajeev Dhanda |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.40 Dollars($)
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| Posted: Sun Sep 02, 2007 8:52 pm Post subject: |
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Hi Rajeev,
Sorry, I am not aware of any such foreign institutes. |
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