Get 10 lakhs Home loan, Suitable for all people: A beautiful home is everyone’s dream. Building a new home is a very difficult process. To achieve it a lot of hard work and money are needed. To live in our own home makes our hearts very satisfying. People living in rented or leased houses will have so much suffering to have their homes to live with their families. But everyone has a life adjusted to their income. Some may not have the courage to build their own home by taking home loans. Loans are available in various banks to fulfil our dream.
But certain criteria must be followed for that. Several papers must be submitted to attain it. People have taken personal loans for education purposes, businesses, etc. Purchasing a home is one of the biggest financial decisions you may take in your lifetime, and if you are considering applying for a home loan, it can become an even bigger decision. For an average middle-class family, availing of a home loan can become a big liability as it lasts for many years. You need to take into consideration your future flow of income, and whether you have enough savings to meet any emergency expenses. It may bring us liabilities.
It is not an easy job to get a bank loan or home loan. Many documents have to be submitted when we applied for a loan. Once a bank approves your home loan application, you are making a huge commitment for a long period. The typical duration of a loan lasts between 10 to 30 years. If you can’t repay the loan, the lender has the authority to take over the property and sell it to gain the money that you as taken as a home loan. The interest scheme is too tough. Interest depends upon each bank. After the period when we close the loan, we can see the reality that we have paid double the amount have taken it depending on our income certificate and credit value.
There are different chitties or other ways which provide schemes to purchase a home. The most relevant one is KSFE chitties. They have several branches. Different types of chitties are available each month. Long and short chitties are provided according to our interests. KSFE helps you to build your dream home. If you are looking at chitti as a loan, then the interest rate will be better than taking a personal loan.
It can be well defined by the example of chitti in KSFE. There is a chitti of 10 lakh in 100 months(8 years + 1/2 years) monthly payment of Rs.10000. Only the first month 10000 has to pay and the remaining half 50 months 7500 must be paid. The Balance amount will be entered through a dividend. Every needed people can take the amount, in that case, their little amount will be debited. That debited amount act as a dividend. The same chitti is done with 400 people with the same amount but different branches take part in it. We can add an FD in this KSFE where you can deposit the amount drawn from the chitti. Interest will be entered for the FD as per the amount. No certificates are needed for it. But many benefits can be obtained from KSFE. So, if the home is a dream then be a KSFE customer.