Know about home loan overdraft facility - PowerPoint PPT Presentation

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Know about home loan overdraft facility


The amount overdrawn is specific to the maximum borrowing limit as set by the banks. Now coming to home loan overdraft, your home loan online is linked to your savings account with the bank. The customer can deposit any amount of money in that account just like the savings account. Now after the EMI is deducted, the remaining amount is taken as the prepayment towards the home loan. – PowerPoint PPT presentation

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Title: Know about home loan overdraft facility

Home Loan Application Rejection Reasons
The Basics of Home Loan
  • A home loan is always a big investment and
    commitment for the long term. The amount of loans
    is always high and a good amount of money is
    invested in paying the monthly EMI. Paying off a
    home loan with prepayment options can be a good
    one once you get hold of a surplus amount. This
    will reduce the burden of the home loan and gives
    you enough space for other expenses. However,
    when you have already used up a good portion of
    the fund for your home loan, you lack on other
    emergency expenses. This is the reason a home
    loan overdraft facility comes into play.

Benefits of home loan overdraft
  • Finish off the home loan quickly With a home
    loan overdraft facility you can easily finish off
    the home loan quickly. You can deposit more than
    your EMI in the account and this will decrease
    the interest on the amount. Since the EMI will be
    the same, the principal loan amount starts
    getting low with prepayment. This scope gives you
    a quick way to end your home loan before the real
    tenure. How to check credit score.

Poor Credit Score
  • It is highly liquid It is similar to your
    savings account. The money you deposit is taken
    as the prepayment of the loan, which reduces the
    burden of the loan. On the same hand, if you need
    quick funds you can withdraw the amount from the
    account. So you are eligible to low down the loan
    as well as make space for the expense that can
    come up anytime.

Failure in Meeting Eligibility Criteria
  • Withdrawal of surplus After the EMI gets
    deducted you can withdraw the surplus amount
    from the bank account whenever you have an
  • Read Here How to get your home loan approved

  • When you go for a home loan online, you can ask
    for a home loan overdraft facility with your
    bank. It will help you manage your finances well
    and keep you ready for any emergency.

Clix Capital Services Private Limited
  • Address 4th Floor, Kailash Building, Kasturba
    Gandhi Marg, Connaught Place, New Delhi-110001
  • Call us 1800 200 9898
  • Email us
  • Website

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