FAQ's

How much Loan I can Borrow?

It is completely dependent on your available income and the value of collateral available within your property. Depending on these factors your loan amount is decided.

What are the restrictions on my spending the Loan Money?

No,there is no restriction on how you spend the money.Perhaps you just want to pay off all your higher rate credit leaving you with one affordable monthly payment.The money is yours,you can spend in any way.

Who can apply for loan?

Anyone who is over the age of 18 ,having a regular income and owns a property can apply for a loan.

What is the term of a loan?

It depends upon you,You can decide the term depending on your income.Generally The loans are available in the market over 1 year to 25 years.Unsecured loans are available over 1 to 8 years maximum.

What is a personal loan?

It is also called as unsecured loan,as it is not secured by real estate.

How would i know about the change in interest rate on my Loan?

Your lender will send a letter within 30 days of change.Adjustment of your payment will also appear on your monthly statement.

What is Universal Life insurance?

It is a flexible and adjustable life policy.The insured can vary the premium amount and the timing of the payment to adjust the cash value or the death benefit of the policy.

How much time it will take for medical claim?

Your insurance company has a maximum of 45 days to accept the claim or deny the claim after the proof of loss is submitted.

When the vehical is considered a total loss?

When the damage is greater then 75% of the value it can be considered as total loss.

Does homeowners policy covers flood damage?

Most probably not.Most of the insurance companies does not offer flood losses.You should confirm it with your insurer,whether the flood damage is covered or not.

What happens if i forget to pay my premium by due date?

After the due date there is a grace period of 31 days,you can pay your premium within that time.Your policy will effective in that time.

If after taking life insurance policy ,I changed my mind to have my money refunded.Can this be done?

Yes,the insurance company must provide not less than 10 days and no more than 30 days from the day policy is delivered.

By debt consolidation,how much i can reduce the monthly payment?

It depends how much you are paying now,but using debt consolidation you can reduce your payments as much as 75%.

Can i move my house,if i want?

Yes,you can move your house.If your loan is secured against your property,then you can use the sale amount to clear the outstanding balance of the loan.Even you can transfer your loan on your new house.

What is APR?

APR is Annual Percentage Rate.It shows the cost of credit card on yearly basis expressed in percentage.It includes the interest rate and any other financial charges.

What is periodic rate?

It is the intrest rate that is calculated on the balance over a peroid of time say day,week,month or any subdivision of year.

What are reward points?

Reward points are earned on every purchase done on the credit card.These reward points can be redeemed for the various offers issued by the credit card provider.

Does reward points expire?

No,your reward points won't expires.