Loan Calculator
Loan Amount
No Of Instalments(Months)
Annual Interest Rate

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In today’s fast life we have no spare time to search for better options against our requirements. That’s why most of the companies producing attractive advertisement so that customer can know about their product or service which helps them to run faster in the market. But all this companies highlights the positive side of their products/services.


Availing loan is a longer relationship with the bank/finance company. So it is your responsibility to know all how and why before selecting a bank for taking a loan. You may compare some features & conditions while searching better deal for loan.


   Rates offered:


It doesn’t mean only what rate of interest you are availing from any particular bank or finance company; it includes the things behind it too. Initial offers may very with terms in future. You need to compare the method of calculation of rate of interest, through asking about current Base rate, Reference Rate and what premium or discounts you are availing. After studding to all this matters you will come to know the exact picture what will be the rate scenario of your loan in future.


   Prepayment Conditions:


Everybody wants to come out from debt as soon as possible, so need of making prepayment arises anytime in future. It is must to know about the charges and conditions of making prepayments.


You need to know…


Charges of making prepayments

  Limit of non chargeable prepayment amount

  Intervals for making prepayment without paying any charge

  Terms & Conditions for fore - closure of loan.


   Loan Eligibility & Repayment Period:


Taking loan is as equal as investing own money in reliable sources. Because term money is all the way a valuable stuff, we all care to grow it. Usually we invest money according to our future needs of business expansions, children education/marriage, or repayment of debt burdens.


Same way we need to decide proper loan amount with proper repayment period. First of all decide monthly installment amount you can afford, then check for how much loan amount you are eligible, and what will be the repayment period of such loan amount. Remember that loan eligibility and repayment period affects each other, greater the repayment period – higher the eligibility of availing a loan. But you need to plan your repayment period according to your future financial planning and retirement age both.


Compare Following terms to decide loan amount and repayment period:


  Monthly installment of required loan period

  Eligible Loan amount for required loan period

  Eligible Loan period for required loan amount


   Charges and Expenses:


There are some charges you need to pay at the time of availing a loan, which are as below. Compare the better charges for the same.


  Processing Charges

  Legal and Valuation Chares

  Mortgage Charges

  Insurance Charges (Life/Property)


   After sales services:


As this is a long term relationship, after sales services are also an important factor. We do not have extra single minute to look behind for odd things. At the end of the year you may require some statement, need to give further installment cheques.