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Canara Bank

Canara Bank Loans to Get Cheaper, Reduces RLLR & MCLR

Canara Bank loans to get cheaper as bank has reduced its Repo-Linked Lending Rate (RLLR) and Marginal Cost of Funds based Lending...

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Financial Calculator

Calculate Debt To Income Ratio For A Mortgage

Debt To Income Ratio For A Mortgage loan - you always pay your debt on time and your credit score is considerably...

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Bank Account Queries

How to Calculate Cutback in Loan Appraisal?

Calculation of Cutback is an important parameter for deriving the loan eligibility. THE amount you can borrow from banks or any lender depends...

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Loans & Advances

What is P2P Lending ?

Recently P2P lending is much in news after RBI revised the policy with Rs 50,000 maximum cap. What exactly is the P2P...

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Loan FAQ

How To Calculate Loan Monthly Reducing Balances Interest?

How To Calculate Loan Monthly Reducing Balances Interest? - Number of time lender promote their loan products quoting Reducing Balance EMI. This...

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Loan FAQ

How Does accepting OTS effect on Credit History ?

One Time Settlement Scheme , OTS effect on Credit History of an Individual future credit history : Just as all information about credit availed (amount availed, payments, defaults etc) is reported to Credit Information Companies (CICs), the fact that the borrower has closed a loan account after accepting an OTS is also reported to CICs. The bank is required to explain to the borrower the consequences of accepting an OTS on his / her credit history/ credit rating in the...

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Loan FAQ

When will bank return the securities after closure of loan ?

How much time bank would take in returning the title deeds /securities after closure of loan. Banks should return all the securities / documents/title deeds to mortgaged property within 15 days of the repayment of all dues agreed to or contracted. If any right to set off is to be exercised for any other claim, the bank will give due notice with full particulars about the other claims and retain the securities/documents/title to mortgaged property till the relevant claim is...

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Loan FAQ

Do I need to Insure the Loan from Bank ?

Insure the Loan from Bank - Yes. One will have to insure the property etc. as required by the bank during the tenure of the loan. However, banks cannot insist on your obtaining insurance cover from any particular provider.

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