LTV Reduced
Posted by: Aishwarya on: January 30, 2011
Following the RBI mandate the Banks and the Financial Institutions/NBFC’s in India have limited the maximum funding not to exceed 80% of the Cost of Property. Hence increasing the customer equity to 20% from the earlier 10% or 15%.
10 Tips of Warren Buffett
Posted by: Aishwarya on: March 8, 2009
Hard Work: All hard work bring a profit, but mere talk leads only to poverty.- Laziness: A sleeping lobster is carried away by the water current.
- Earnings: Never depend on a single source of income. (at least make your investements get you second earning)
- Spending: If you buy things you don’t need, you’ll soon sell things you need.
- Savings: Don’t save what is left after spending; Spend waht is left after saving.
- Borrowings: The borrower becomes the lender’s slave.
- Accounting: It’s no use carrying an umbrella, if your shoes are leaking.
- Auditing: Beware of little expenses. A small leak can sink a large ship.
- Risk-Taking: Never test the depth of the river with both feet; Have an alternative plan ready.
- Investment: Don’t put all your eggs in one basket.
I’m certain that those who have already been practising these principles remain financially healthy. I’m equally confident that those who resolve to start practicing these principles willquickly regain their financial vigour. Let us all become wiser and lead a happy, healthy, prosperous and peaceful life.
A Complete File
Posted by: Aishwarya on: February 28, 2009
What defines a complete loan file ready for login….?
Salaried Resident Indian Documentation:
- Application form to be completely filled with Photographs
- PF cheque from salary account
- Personal Documents:
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Photograph 1 passport size (applicant & co- applicant)
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Age Proof (applicant & co-applicant)
- Identity Proof
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Address/Residence proof
- Signature Proof
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Income Documents:
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Salary slip (last 3 months)
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Appointment Letter/Increment letter
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Bonus Details with documentary evidence (Bonus slip, CTC letter with Bank credits)
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Tax Returns along with Form 16
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Banking and Loans:
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Bank Statement (All accounts) 6 months
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All Obligation details with Sanction Letters/Closure Letters and SOAs
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Sanction or Approval Process
Posted by: Aishwarya on: February 26, 2009
A Typical Sanction Flow Chart
