Housewives too can apply for credit cards

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: Amitoj Sethi

(Director, www.deal4loans.com)

I work in a software company and earn Rs 40,000 per month. I want to apply for a home loan of Rs 18,00,000 for 15 years. Please guide me about various bank options, interest rates and EMI details.

The current rate of interest on home loans ranges between 11% to 13%, depending on the borrower’s and builder’s profiles. You can approach consolidation portals like www.deal4loans.com for your loan requirement. The EMI for a Rs 18 lakh loan for 15 years at 12% is Rs 21,603.

I am an NRI working at Doha, Qatar. I have a home loan of Rs 9,50,000 and my current EMI is Rs 10,500. My bank is not able to provide me another Rs 10,00,000. My present salary is Rs 50,000 and the market value of my home is now valued at 65 lakhs. Kindly advice me with suitable options?

You should consider transferring your loan to an alternate bank. They would be able to take over your existing loan and also offer you the top-up that you need.

I am an old SBI customer and have an account in the Kurla (west) branch of Mumbai. The pin code is 400070. I wanted to apply for a credit card online, but could not go further from the first page itself. As I am a housewife, I was not able to go ahead of the employment status option. I do pay my regular taxes and so I have a PAN card. I would like to enquire whether there is an option of applying online for credit cards.

Some banks do offer cards to housewives based on alternate documents like a four-wheeler driving license, LIC policies, club memberships, etc. You can also approach SBI, where you have your bank account. I am not aware of any bank offering online credit cards to housewives.

I want personal loan of amount Rs 5 lakh for five years. I am working with NTPC Ltd for 25 years. I don’t have any loan running, my salary is Rs 28,000 per month. How much amount I am eligible for?

Prima-facie you are eligible for the loan of Rs 5 lakh. The EMI for a five-year period at 18% will be Rs 12,697. 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, which will be able to fulfill your requirement.