Dear All,

As people need money to survive, to grow and also to win the race , people also should be careful when they are striking a deal.

A loan amount which is not well negotiated with terms and conditions can ruin a life.Because after getting the loans if you try to fight , bankers will show you just your signature on the agreement paper.

So before you strike a deal first try to know :-

1. What is the processing fees?

2. What is the early repayment penalty ?

3. What is the penalty amount if you are in non repayment schedule ?

4. What is the Rate of interest-----Reducing or Flat.?

5. If you want to switch over from fixed rate to floating rate then ?

6. What is the tenure of repayment ?

7. EMI amount to be paid each month .

8. What is the principal and how much is the interest ?

9. If you can not pay in time then how much extra time you will get from them.

10. What are the mortgages they require to sanction the loan ?

11. What are the papers you need to submit before them ?

And of course before signing on any agreement just go the papers very carefully so that you may also find any new hidden costs! Happy loans !!

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wahm