Friday, November 2, 2018

REG.EMI AND HOUSING LOANS.

  • Wish the Central govt. issue bonds of Rs.500/1000/2500/5000/10000.
  • Let the rate of interest be around 7 per cent.per a year..
  •  interest paid /credited on a quarterly basis.or on a cumulative basis.
  • The bonds can have a maturity of 15 years with the clause  it can be foreclosed after the locked period of 5 years.
  • https://economictimes.indiatimes.com/wealth/borrow/all-about-home-loans/articleshow/56616177.cms
  • To start  with it can be for 29000 crores.
  • gradually raised to 58000 crores ..116000 crores.
  • If need be, loans can be granted  on the bonds by the banks at 2 p.c.more than the rate prescribed in case of emergencies. with additional charges not exceeding 0.5%.
  • Housing loans are to be given for individuals only only only
  • up to 36 months emoluments.
  • Rate of interest to be maximum 9.5 percent charged on the balance due. on a simple interest basis that too collected at the end of every month.
  • If the loan is prepaid before the due date, rebate , a reasonable one  could also be given.
  • Maximum loan not to exceed Rs. 10,00,000. for a single person and with the spouse  Rs.20,00,000/
  • Mortgage insurance and life insurance are a must.
  • in both the cases.collected in advance for at least 2 years.
  • This calculation is based on 60x40 plot with construction cost of Rs 200 per sq.feet. 
  • The plot can be of lesser size and with the cost of construction adjustment.
  • This is done as an example.
  •  Those who are well experienced  and who has more consideration on humanitarian basis, can suggest better than this suggestion.
  • Main aim is all must live in their own houses.
  • Your suggestions,opinions, comments 
  • please send to raornews@gmail.com and oblige.

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