How much is a downpayment on a house Quora?

How much is a downpayment on a house Quora?

Do we need a down payment for a home loan? – Quora. You need to have a down payment of between 10 and 20 percent of your home costs saved up before you purchase a house. Mortgage lenders did this to protect themselves, because it indicated that you would be more responsible with their money.

What is the interest of 30 lakh in SBI?

For First Five Years EBR 6.65\%

LOAN AMOUNT Applicable Interest Rate
Up to Rs 30 Lacs EBLR+ 85 bps ER: 7.50\%
Above Rs 30 Lacs to Rs 75 Lacs EBR +95 bps ER: 7.60\%
Above Rs 75 Lac EBR + 105 bps ER: 7.70\%
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Can we get 30 lakhs loan?

Indian Citizen : Only residents of India can get a personal loan of ₹ 30 Lakh. Age : For a ₹ 30 Lakh loan scheme, a salaried individual should be of minimum 18 years and maximum 65 years. The minimum age of a self-employed individual should be 23 years and maximum 65 years.

How much downpayment do I need for a flat in India?

Down payment is defined as the amount you pay upfront to the seller or property owner. The minimum down payment for home loan in India is set at 20\%. The RBI has directed banks and NBFCs to grant only 80\% of the property value as loan, and the rest 20\% has to be arranged by the borrower; this 20\% is the down payment.

What is the interest of 30 lakh?

Emi Calculated on 6.80\%.

Monthly Payment (EMI) Total Interest Payable in 20 years Total Payment (Principal + Interest) after 20 years for 30 Lakh of loan amount
Rs.22900 Rs.2496045 Rs.5496045
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What is the eligibility for 30 lakhs home loan?

Eligibility Criteria for Home Loan of ₹ 30 Lakh Income : A salaried employee who wants a home loan of up to ₹ 30 Lakh must earn ₹ 25,000 monthly, and self-employed should have a gross annual income of ₹ 4,80,000 annually. Credit Score : To avail ₹ 30 Lakh home loan, you must have a credit score above 650.

What is the EMI for 30 lakhs loan?

How to invest Rs 30 lakhs in fixed deposits?

You should split the Rs 30 lakh between a mix of government-backed schemes, mutual funds and corporate fixed deposits. Park Rs 4.5 lakh in a Post Office Monthly Income Scheme. This will earn you 7.6\% interest per annum, payable monthly. Invest the second tranche of about Rs 15 lakh in corporate FDs.

How can I invest a lump sum of Rs 2 lakh?

You could opt for a multi-cap equity scheme as it contains a mix of both large and small-sized companies. The horizon you have in mind gives you a fair chance of earning a reasonable return. I want to invest a lump sum of Rs 2 lakh. The money should generate a monthly income for me when I retire in 5 years with other benefits.

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How much should I invest in a Bajaj Finance fixed deposit?

You can get a good income of up to Rs. 32,375 per month, by investing Rs. 50 lakh in a Bajaj Finance Fixed Deposit. All you need to do, is to choose the option for non-cumulative fixed deposit that enables you to choose periodic payouts.

What is the best mutual fund portfolio for Rs 60 lakhs?

Your fund portfolio should be aligned towards safer debt options and facilitate a Systematic Withdrawal Plan. A MF portfolio of Rs 60 lakh should ideally be a mix of Franklin India Short Term Income Plan, ABSL Liquid Fund and SBI Magnum Ultra Short Duration Fund.