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Top-up loan
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Posted On :
Nov-07-2011
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Article Word Count :
416
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The banks are always friends of their clients with the help of different types of concept.
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The banks are always friends of their clients with the help of different types of concept. They offer fast loans especially knowing how top-up loan for the customer do not need to provide all security or mortgage paper.
Top-up loan:
Top-up loan is the type of loan, if a customer gets satisfied by his bank to repay its debt (loan) on time may, for top-up. There is a second loan against the existing loan, the interest rate slightly higher than first rule 1percent to 2 percent.
This system thus allows a customer to apply for any type of loan, whether it is a student loans, personal loans, marriage, etc. Contract purpose of this loan will be with the contract of loan comes to an end. Thus helps the loan customers to reduce their cash expenditures.
Eligibility to limit and, for the borrower:
If you repay your loan amount on a regular basis, at least 6 installments, you are entitled to apply for top-up loan. This is just an extension of the border is home loan banker and not concern about how you deal with your money. Bankers will be made only for your ability to repay, and if your rates without any clogging issues come to the exhibition of the top-up loan, but if the rates were paid on a regular basis, then bankers may not be willing to grant them loans.
Second, if your property is a high value on the market you are in a position for a higher loan amount and the ability of customers to its credit and loan amount taken until now exhausted in the next valuation of your credit limit must be refunded.Although it's all up to the banks or financial institutions in the amount you decide to come to your top-up.
Few financial institutions have a decision to limit the top-up loan amount shall, on the basis of the loan amount (original home loan amount) taken as decided some of them, go with the market value of assets, the ability of customers to pay the back the amount, the balance of the first loan amount, etc.
These loans are separate loans and tax benefits while not all home loan issued on the basis of this loan has given tax breaks allowed. This type of loan is to take good, if it does not require long-term financial need. This is very flexible and helps you save your hard earned money.
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Article Source :
http://www.articleseen.com/Article_Top-up loan_100895.aspx
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Author Resource :
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Keywords :
loans, benefits ,
Category :
Finance
:
Loans
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