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: Amitoj Sethi

(Director, www.deal4loans.com)

I have an existing personal loan for a four year tenor. I have already paid 10 EMIs. Is it possible for my father to take over this existing loan and pay the remaining EMIs as I am not working anymore?

I do not expect banks to accept such requests. This can be done if your father was a co-borrower on the loan. You should just get your father to deposit the money in your account and continue to pay the EMIs from your account.

I am a salaried person earning Rs 5 lakh per annum. I need a home loan of Rs 12 lakh within the next three months. I want to know if I am eligible for this loan amount. If yes, what will be my EMI?

You seem eligible for this loan amount, but as you have not mentioned details of your other debts, I cannot confirm the eligibility. The EMI on a Rs 12 lakh loan for 15 years at 11% will be Rs 13,639.

I am a married woman living abroad. I would like to take a home loan in India jointly with my sister. I know that a lot of banks are averse to this, but I wanted to double check if there are any banks that approve sisters as co-applicants?

Yes, there are banks who approve sisters as co-applicants. Most of the nationalised and private banks are open to this, though some may require additional documentation.

I am 22-years old and have started working just a year back. My monthly salary is Rs 24,000. I need Rs 7,50,000 as a home loan for buying a small flat in Kolkata. Can you guide me on which bank to approach for this?

You can approach consolidation portals like www.deal4loans.com for your loan requirement. They are in a position to put you in direct contact with multiple banks who will be able to fulfill your requirement in one go.

Last year I wanted to buy a house but due to financial constraints I bought it by taking a loan and that too on a long tenure basis. This year I have some cash to pay back the loan. Can I pay the loan partially, by cash and the balance by EMIs, with a reduced tenure? Will it be an economical deal or shall I continue paying it in EMIs?