Can I take a car loan after taking a home loan? Should I take it from the same bank or a different bank?
- Shashi Thakore You can certainly go ahead and take a car loan even if you have an existing home loan, provided your income is enough to justify the repayment of both the loans. Typically, a bank will consider up to 50% of your net monthly income to be available for repayment of all EMIs. So, the eligibility for a home loan is dependent on your earning capacity and your credit worthiness. It will not matter which bank you take a loan from since the bank will in any case access your credit bureau report.
Can I pay for all my loans with a single EMI?
- Pankaj Sharma Normally, it is not possible to pay a single EMI for all your loans. This is because you
Banks give loans only for non-agricultural plots. Generally, if they do, they will ask for a higher margin (30% to 50% versus 20% for