CHEQUE BOOK

HT Estates - - HTESTATES - Harsh Roongta

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

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