Queries Related To Different Loans

The loan amount depends on the worth of the collateral you give to the bank. The collateral worth has indeed decreased within the last year.
For the approval of the loan, the financial institution looks at the repaying capability to approve the loan.
By Chaitali Dutta
I had taken a gold loan a year ago, and the bank says that I actually have to give a lot more gold for the loan as gold costs are falling. What should I do?
—SR Muthu
The loan quantity depends on the worth of the collateral you give to the bank. The collateral worth has indeed decreased within the last year. It’s suggested to either give more collateral in gold to the bank or repay a part of the loan from cash from different sources. If no step is taken, the bank will classify your loan as an NPA, which will negatively affect your credit score.
My housing loan was approved six months ago; however, I didn’t take the disbursement thanks to the lockdown. Currently, the bank desires ME to give the newest salary slip for the disbursement. I actually have left my job and am helping my father in his business. What should I do?
—Ajit Kumar
For the approval of the loan, the financial institution looks at the repaying capability to make a call. If you are not employed currently, one of the crucial conditions of empowerment has modified. The bank is so inquiring about the remuneration slip. Defer the disbursal until you’ve got employment.
I am the owner of a residential property with my wife and my mother as co-owners. My mother has passed away. I’m the only kid of my parents. What papers do I actually have to provide to society to urge my mother’s name deleted from society records and share certificate?
—Rajeev B
Here, you and your father got equal rights to her assets. If your father is alive, he needs to relinquish his rights in your favour. Once you submit it alongside your mother’s death certificate to the CHS, you may become the owner of 66.66% of the property. If your father is no more, then both death certificates have to be compelled to be stocked to the society for transmission of possession.
I had taken a home loan in May 2015. am I able to avail of a PMAY grant on additional construction by home equity credit top-up?
—Mukund
The PMAY applies to only those that don’t own a pucca house or property in India. Since you have already got the house loan running, it’s implicit that you own that property. Thus you may not be eligible for PMAY on a top-up loan.

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