Avoid having bad credit history

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: bank and I have repaid for 6 months till now. My monthly EMI is Rs 7,340. Am I eligible for another loan anywhere based on this repayment track of 6 months?

A lot of banks offer personal loans based on the track record of existing personal loans. The repayment tenure they look at is between 6 months to 30 months.

I am working in an MNC and drawing a monthly salary of Rs 40,000. There is a home loan of Rs 10 lakh for 20 years in my name, along with a car loan of Rs 2 lakh for three years. My friend and I want to purchase a plot near my company, which costs Rs 26 lakh. I want to know whether I will get a home loan. Can my friend be a co-applicant in this case and will this help me in getting an income tax exemption?

You can get a loan to purchase the plot and construct your house on the same. Most of the private banks like HDFC and ICICI offer this facility. Ideally banks only allow blood relatives to be co-applicants on the loan, but there are cases where friends have been allowed to be co-applicants/ guarantors with some additional documentation. The IT exemption limit is on an individual basis and not linked to the number of properties the loans are taken for. You are already availing of the tax exemption on your current home loan EMIs that you pay. Taking this additional loan will not benefit you in any significant manner. If you dispose off the earlier property, you should still be able to use the IT exemption through this new loan.

I want a personal loan of approximately Rs 4 lakh. I have a credit card of ICICI bank since two years with a credit limit of Rs 1.25 lakh and currently it has a balance of Rs 80,000. Which bank can provide me the best deal?

You could approach banks directly or aggregators like www.deal4loans.com. You could opt for a loan against your income documents like bank statements and salary slips or against surrogate credit products like credit cards.