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Five Must Know Facts About Loan Against Property In India

While there is much to be known, here are the 5 facts that you must know about opting for a loan against property in India :

1. It has more competitive interest rates.

A loan against property is a secure form of a personal loan. Since you have collateral, lenders don’t require a guarantor or repayment capability in terms of credit score. Therefore, you enjoy much lower interest rates as compared to non-secure personal loans.

2. LTV (Loan to value) ratio is a very important factor.

Offering property as collateral is a big risk. Hence, it is essential to ensure that you receive a suitable amount against it. It gets a bit more complicated when you take a loan against your residence or business property for the foreseeable future. The optimal LTV ratio for loan against property in India is 80%; however, the amount may be much lower if you are currently paying EMIs. Lenders may incorporate payables into the calculations and offer small amounts. If the amount is too low, then you should choose one of the other alternatives as the risk is much bigger than the reward in the case of a loan against property.

3. Right amount of loan and EMI is vital.

Most people use it as a personal loan of sorts. They take it for their children’s education, wedding or medical expenses. So, it is mandatory to ensure that it suffices your requirements and is worth the collateral. EMIs can change over a period of time. Floating and fixed interest rates on loan against property can change based on external factors such as stock market, world economics etc. The EMIs should fit in your earnings comfortably enough so that you can repay them easily. Missing EMIs on such loans can be a very expensive mistake. So, estimate your financial situation carefully and choose these two factors at the best of your ability.

4. You may lose collateral (property) if you fail to repay loan.

If you fail to repay this loan, the bank will take the collateral into custody and sell it. So, if you are taking a loan against your residence or business property, your risk is a lot more than just the loss of property. You and your family could lose your home or you could lose your office. It is too big a loss to recover from. Therefore, realistic understandings of these facts are essential before you accept such a big responsibility.

5. Do not ignore the prepayment clause.

Most loans are taken because you cannot accumulate the needed amount in a specified time. For most borrowers though, it is easy to gather the required amount over an extended period of time. So, it makes sense to keep the option of prepaying the loan open. However, most banks do not want you to prepay the loan as they lose their interest for the remaining period. Hence, they levy heavy penalties to discourage you. Therefore, you should take a closer look at that cause too.

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Effective ways to recover and repair Outlook PST files

The popularity of MS Outlook is not hidden from everyone. The Microsoft Outlook is a complete package that can run numerous email accounts from one application.

We all know that Outlook is used to store the entire data in the form of PST Files in our pc. But sometimes these PST files didn’t open this happens mainly due to corruption in PST files or in case if they got lost. Have you ever think what will you do if your MS Outlook crashed suddenly and corrupted your PST files and have no idea what to do?

Then don’t worry, as in this blog I will discuss some methods that will help you to repair Outlook PST files.

Reasons for the Outlook PST File Corruption

There are several reasons that lead to the Outlook PST File Corruption. When the PST file got corrupted then automatically your storage file will become difficult to access and as a result users cannot view their emails. The reasons behind the Outlook PST are:

In previous versions of Outlook, the user has the limit to store up to 5 GB of data. That was hard when the file size limit increases beyond the limit that will lead to the crash of the PST files and thus suspend the application.

Large PST file size, if the size of PST files exceeds beyond a limit then they will get corrupt. In this condition, a user should split large PST files, by splitting the size of PST files gets reduced and they become less prone to corruption.

Sometimes, users open their email attachments from the MS Outlook interface that have a virus attack and thus result in corrupting the data comprise of the PST file.

If you are closing your MS Outlook application abruptly that may create a disturbance in PST files while saving your data accurately that will result in creating issues later while opening it and will create the error.

If you move from the prior edition of Outlook to Outlook 2016, then a new PST file may be generated that results in getting the older PST file corrupted.

If there is a hardware issue that comprises the PST file then it can be the reason for the Outlook PST file corruption.

The Manual Method to Repair Corrupt PST files

You can use the manual way by which you can repair Outlook PST file and eliminates the corruption. All you have to do is written below; you just have to follow these instructions.

Use the Scanpst.exe Repair Tool

If you are facing a problem in Outlook while opening your items from the inbox then, you can use this method in removing these issues with the data files. Scanpst.exe Repair tool is the integral tool that is offered by Microsoft, it will help you in repairing the minor corruptions of the PST files.

You can depart from the Outlook and browse to one of the following file locations:

Outlook 2016: C:program files (x86)Microsoft officerootoffice16
Outlook 2013: C:program files (x86)Microsoft officerootoffice15
Outlook 2010: C:program files (x86)Microsoft officerootoffice14
Outlook 2007: C:program files (x86)Microsoft officerootoffice12
You can open the Scanpst.exe
Choose the Browse to pick the Outlook data files that you want to scan. If you can use the locating the Outlook data files which will help in detecting your Outlook data file.
Then, tap on the Start to initiate the scanning process.
If in case, the scan locates an error, then you can select the Repair to start the process to repair PST files.
Once the repair is completed, you can start the Outlook with the profile linked with the Outlook data file you have repaired.

Best Way to repair PST files

You can use the PST Recovery tool that will help in repairing corrupted Outlook PST files. This software will recover your PST file and stored them in different formats such as EML, DBX, MSG, PST, MBOX, and Archive. This software can run with Microsoft Outlook versions 2016, 2013, 2010, 2007, 2003, 2002 & 2000.

Conclusion

In this article, I have explained the different ways by which you can recover and repair Outlook PST files easily. You can use either the manual or the alternative methods to perform the whole process. The Manual method is quite lengthy and complicated hence you can use the alternative tool which will perform the whole process faster and in a very secure manner.

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Compare Home Loan Interest Rates To Find The Best One

Several banks and housing finance companies offer different home loan rates. If it was as simple as visiting a third party website and entering your details to compare the home loan interest rates, there was no need for this article. Yet, you know, there is certainly much more to it. So, how do you evaluate the best home loan rates in India ?

Put your best foot forward.

Clear your credit card debts and personal loans and get the best possible CIBIL credit score. You should revise your credit history without any damaging elements. Calculate the required down payment, since it will affect the banks and housing finance companies that approve your loan, interest rates offered, repayment strategy allowed and more.

You would need to start saving up to 20% of the principal amount. So, you should plan for it in advance as you will need all the necessary documents to demonstrate your assets, liabilities, investments and earnings. Your good position and salary in a reputed organization comes in handy too. Now, you are ready to compare the available home loan interest rates in India .

Apply, apply, and apply.

Most banks and housing finance companies have online eligibility calculators and loan application systems, which allow you to apply for home loan within a few minutes. When you apply for a loan, you receive realistic interest rates based on your repayment ability, income and potential to earn. As you receive approvals, you will get realistic interest rates and EMI projections as well. This is a great place to compare the loans as well as finance companies. As these rates are open for negotiations, though banks don’t encourage that practice, you can contact your loan officer and use this time to draft the best possible deal.

Compare the specifics too.

After comparing the home loan rates, you must compare minor details too as they help you to negotiate and customize the loan as per your convenience. Lenders with the best possible proposal would include the right repayment strategy, prepayment clauses etc. All comparisons will not help you to select the best deal. Yet, you must look into boring fine print documents such as terms and conditions that would shape your EMIs and financial life ahead.

No wonder the right foundation for a successful comparison and loan approval is thorough research. So, explore the details of the EMIs, documents, terms and conditions, repayment options and interest rates to finalize the home loan that suits you the best.

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