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Whether Housing Loan Interest Will Reduce If I Pay More Money Than EMI Every Month?

Question by prabhu | Posted in Personal Finance

I have a housing loan of Rs 10 Lacs for 10 years age in SBI with EMI of around Rs.11,023/- but now I am Paying Rs. 15,000/- per month. So whether my interest will reduce or should i have to pay the downright interest for 10 years as per EMI?

Answer: buddy, its righteous that you have increased your EMI. This increase will drastically reduce your loan tenure. The loan will be paid of quite much before the original tenure of 10 years.

For sure your interest component will be reduced

 
 

Can A Govt Employee Avail Deduction Of Housing Loan Interest?

Question by srini_vlr2003 | Posted in India

In instance of a govt employee he can avail tax deduction for accrual interest. Since the govt staff member who got Housing loan from the govt will pay the principal first and later pays the interest at the end of full recovery of manageress. while paying

Answer: Punctilious answer by Mr.Balasubra..

 
 

Can We Take Interest & Principle Of Housing Loan And Also Can I Take House Rent Paid?

Question by pramod a | Posted in Personal Finance

I have took a own concern in my native.and housing loan i am repaying. in own house my parents are staying, and I am staying in other mortify in rented house. Can I take both Housing loan interest & Principle and House rent in reality paid. pls guide

Answer: Can you ask both deduction for Interest on Home Loan u/s 24(1) and HRA u/s 10(13A)? YES and NO.

If the own property and rented chattels are in different cities, both exemption can be claimed. For example you have worth in Kolkata where

 
 

Housing Loan Floating Interest Rate For New And Existing Customers?

Question by boundless | Posted in Renting & Real Estate

Do HDFC bank and HDFC load different interest rates for new and existing customers?
What is the Housing loan floating interest at all events of HDFC and HDFC bank for new and existing customers?

ICICI charges floating interst kind

Answer: Ha, what a delightfully question.

understand the facts of our rulers who simply flimflam the public.

it is true that the interest rates for existing customers are more and for new customers less.

even if you

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Is Rebate In Income Tax On Housing Loan Interest Is Only Applicable In Case Possession Is Taken Or?

Question by sanjay | Posted in India

or this allowed in all cases even it is for under construction builder flats whose possesion is expected after 2/3 year and you have got housing investment capital to make down payments to have some better discounts?

 

Home Loan Interest Rates

What you can do to organize sure you have the best mortgage deal? To fix or not to fix your interest rate? Which way are interest rates heading?

NHA still offers cut on housing loan interest | Sun.Star Network ...

Civil Housing Scholar (NHA) in Northern Mindanao is reiterating its call to domination housing beneficiaries to avail of the 100 percent cut on interest of their delinquencies under Republic Act (RA) 9507.

Evelyn Velasco, brain of NHA-Northern Mindanao condonation monitoring, said that under RA 9507, otherwise known as Socialized Low-Fetch Housing Loan Restructuring and Condonation Act of 2008, housing recipients can avail of paying their delinquents with the housing band without any individual centavo interest and a 50 percent mark-down on the monthly proprietor amortization of their lots.

"It's already a big help to the housing beneficiaries. That's why we keep on to support them to avail of the condonation program so that the interest of their accounts would be condoned," Velasco said.

The program runs until September this year.

She said that as of Stride this year, of the 1,465 accounts, around 40 percent of effective housing recipients, 50 percent matured or over due and 60 percent of townsman oversight units in the territory already availed of the program.

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