I would strongly recommend not to use leverage to invest in the industry. Equity markets are volatile and the returns are very good only when you are invested in it for the extended term—five to seven years. The loan you take will have to be paid back in EMIs exactly where there will be a continual flow out of your funds. My suggestion would be to invest in equity with the proposed EMI income which you would have had to spend back to the bank. This month-to-month accumulation would be a much better route to creating a portfolio.
I took a loan from PNB in February 2019 and applied for PMAY subsidy in August 2020. I have reapplied as it was rejected as soon as. Now I have my CLAP ID and it says 4 stages have been cleared. If I transfer my loan to some other bank for a reduce interest price, my subsidy will go back to the government. What shall I do?
PMAY can be applied only as soon as. Do request PNB to get in touch with back your application, if probable. Once the sanction comes by means of, you will need to be with the similar organisation to get pleasure from the added benefits of the PMAY subsidy. In case you would like to pre-spend your loan in the future, you will be essential to spend back the subsidy for the unexpired period of the loan.
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What is the tenure of a gold loan and what occurs if I default on the interest payment?
There is no set period for a gold loan. Depends on your desires and the organisation you are taking the loan from. The loan quantity supplied on a gold loan is calculated soon after factoring in the interest for the period of the loan. Hence, by not paying the interest quantity, you are burdening your self and the possibilities of you receiving back the gold will be lowered.
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If I have a CIBIL score of 810, will I get a residence loan at a favourable price?
Yes, with a higher than 800 CIBIL score you may possibly anticipate a reduce price of interest/ reduce margin requirement on your residence loan.