Know about home loan overdraft facility

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Home Loan Application Rejection Reasons
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The Basics of Home Loan

• A home loan is always a big investment and
  commitment for the long term. The amount of loans
  is always high and a good amount of money is
  invested in paying the monthly EMI. Paying off a
  home loan with prepayment options can be a good
  one once you get hold of a surplus amount. This
  will reduce the burden of the home loan and gives
  you enough space for other expenses. However,
  when you have already used up a good portion of
  the fund for your home loan, you lack on other
  emergency expenses. This is the reason a home
  loan overdraft facility comes into play.

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Benefits of home loan overdraft

• Finish off the home loan quickly With a home
  loan overdraft facility you can easily finish off
  the home loan quickly. You can deposit more than
  your EMI in the account and this will decrease
  the interest on the amount. Since the EMI will be
  the same, the principal loan amount starts
  getting low with prepayment. This scope gives you
  a quick way to end your home loan before the real
  tenure. How to check credit score.

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Poor Credit Score

• It is highly liquid It is similar to your
  savings account. The money you deposit is taken
  as the prepayment of the loan, which reduces the
  burden of the loan. On the same hand, if you need
  quick funds you can withdraw the amount from the
  account. So you are eligible to low down the loan
  as well as make space for the expense that can
  come up anytime.

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Failure in Meeting Eligibility Criteria

• Withdrawal of surplus After the EMI gets
  deducted you can withdraw the surplus amount
  from the bank account whenever you have an
  emergency.
• Read Here How to get your home loan approved

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• When you go for a home loan online, you can ask
  for a home loan overdraft facility with your
  bank. It will help you manage your finances well
  and keep you ready for any emergency.

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Clix Capital Services Private Limited

• Address 4th Floor, Kailash Building, Kasturba
  Gandhi Marg, Connaught Place, New Delhi-110001
• Call us 1800 200 9898
• Email us hello_at_clix.capital
• Website www.clix.capital

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