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fixed deposit cancellation sample letter


Loan Faqs
Faq

Can I avail of fixed or floating rate loan? :

 You can go for either fixed or floating rate loan against property.
Faq

What is a fixed rate loan? :

In a fixed rate loan the interest rate on the loan charged by the bank is constant over the tenure of the loan. You should go for a fixed rate only if you feel that the rate of interest prevailing in the market have touched rock bottom and the rates can only move upwards.
Faq

What is a fixed rate home loan? :

In a fixed rate home loan the interest rate on home loans charged by the bank is constant over the tenure of the loan. You should go for a fixed rate only if you feel that the rate of interest prevailing in the market have touched rock bottom and the rates can only move upwards
Faq

What is a fixed rate loan against property? :

In a fixed rate loan against property the interest rate on loan against property charged by the bank is constant over the tenure of the loan. You should go for a fixed rate only if you feel that the rate of interest prevailing in the market have touched rock bottom and the rates can only move...
Faq

Can a fixed rate loan be converted to a floating rate loan and vice versa? :

Yes, you can convert floating rate home loan into a fixed rate one with no extra charges. However, banks charge a small fee for converting a fixed rate product to a variable rate product. The swap can be done any number of times and at any point of time.
Faq

Which all expenses does the loan cover ? :

Fee Payable to College/School/Hostel Exam/Library/Lab fees Caution deposit / Refundable deposit asked by the institution/Building fund - upported by Institution bills/receipts Purchase of Books/equipments/instrument/uniforms Travel expenses/passage money for studies abroad...
Faq

What are the acceptable collaterals for taking an educational Loan? :

Collaterals are required only for educational Loans above Rs.7.5 lakhs. The acceptable collaterals are: Fixed deposits Property (Residential
Faq

Which documents have to be furnished to avail the loan? :

Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution Completely filled Application Form with Photographs. Letter of admission from the Institute Letter from the Institute stating cost break up of the program (term-wise, year-wise) Marksheets from...
Faq

What happens to processing or administrative fees if I don't avail of the disbursement? :

Most private banks do not refund the fees that you pay to them if you cancel the loan after taking the offer letter from them. However, some Govt undertaking banks do refund the fee partially or fully.
Faq

How can the credit limit be increased? :

You can increase the credit limit by giving a request letter and fresh documents to support the enhanced amount facility. This is subject to the eligibility criteria at the time of the new application.
Faq

Can the property be sold, even when the home loan is outstanding? :

Yes, the property can be sold after getting consent of the lending bank. This consent letter by the bank usually mentions the amount at which the home loan can be considered fully paid off. This amount is inclusive of prepayment charges as applicable and calculated at a future date to give you...



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