Points to remember before taking the Big Decision

Home Loan is a life saving facility granted to buyers of the property. With the ever increase in today’s property rates, it becomes impossible to make full payment of the property. So usually people opt for home loan facility where the bank/ financial institute pays on behave of the individual. But this decision has to be taken very carefully as one is accountable to pay the money back to the bank in the stipulated time.

Hence to avoid the nightmare of a faulty or not understood home loan procedure, keep the following things in mind:

• Study the available options: It’s very important that one researches the various options available in the market. Beyond the information given by the agent, one should do personal research as well. Before taking any decision compare & consider.
• Calculate your EMI: Before deciding the amount of the EMI keep a track of your monthly spending. Calculate the monthly costs plus some amount for unforeseen emergencies & then decide upon your EMI.
• You can bargain: Even though the financial institutes say the Rate of Interest is fixed but you can always bargain and get it reduced. After all we are Indians & we love to bargain. If the negotiation saves money, why not.
• Keep you documents handy : Keep all the necessary documents ready for the loan. Make sure you have original copies of each important document. Your bank transactions, credit card payments play a very important role in getting the loan sanction.
• Read the documents: Run yourself through the documents several times before signing on the dotted line. Until your 100% sure do not go ahead.
• Foreclose Procedure: As per the new norms RBI has cancelled the foreclose penalty so at the time of foreclosing your loan make sure you don’t pay anything extra. Most important is if you have saved certain lump sum amount, quickly pay it and foreclose your loan as soon as possible & free yourselves from the burden of EMI.

Aksha Group at each of its projects has made flexible Loan facility available for its buyers. By tying up with all the leading financial institutes, they wish to help their buyers in every possible way so that there are no hurdles in between the buyer & its home. We hope the above mentioned points help you in taking the big decision. To know more on the facilities provided by Aksha Group, log on to the website http://akshagroup.com/

Aksha Group | Optimist