to your account
When you avail for loan at a fixed interest rate, it will remain the same throughout the tenure, irrespective of market performance.
With a floating interest rate, market fluctuations will determine increase or decrease of interest rates. In most cases, home loans will be offered at a fixed interest Rate.
An amortization schedule gives the breakup of your EMI towards repayment interest and outstanding principle of your loan.
For monthly payments, banks may request for an Electronic Clearing System (ECS) form to be signed by you linking your salary or operational account. Besides ECS, at the time of applying for the loan, banks may ask you to submit post-dated cheques.
Do clarify your ECS debit date with the bank so you can ensure sufficient balance for payment clearance.
No. The service offered by Rubique are completely free of charge.
Once your application has been electronically processed and received, it will be securely sent to the Financial Institution of your choice. You will soon be contacted by the lender directly for further process.
Rubique offers home loan solutions from several banks and non-banking financial institutes. You can, not only compare, but also get an instant approval for your home loan application through our online integration with the banks system
You can pre-pay your loan, however a pre-payment charge maybe levied. This can be anywhere between 2-5%.
Firstly, you will be levied a fee for late payment. Secondly, all your loan transactions are collected by Credit Information Bureau of India Ltd. (CIBIL). Defaulting on a loan will show up poorly on your credit history. This could pose a problem when applying for a loan in the future.
It basically records your repayment of past loans and credit card bills. The Credit Bureau of India Limited (CIBIL) maintains credit history and it is important that you have a good credit score with CIBIL if you wish to avail a loan in a hassle-free manner.
The following documents are needed:
Ownership proof (any one) (applicant and guarantor)
For self-employed Individuals, self-employed professionals, firms and companies