December 11, 2016

The loans taken up in order to construct/buy good house, flat, row houses, condominiums is known as the home loans. Home loans are gaining popularity day by day. People in India are very emotional and love to spend their hard earned money towards purchasing good homes.

Importance of Home Loans:

Many people in India cannot afford to pay rent on a regular basis. They started purchasing Flats, Row Houses, Condominiums, Apartments, Dupleix, and Independent Houses to lead a good life.  

Many companies in India decided into cash in on the opportunity and woo customers to take up the home loans. Government’s liberalisation policy has encouraged people to go in for huge investment in real estate segment in India.

Details of Home Loan Document For Employed/Salaried Professionals:

Some of the documents available for the salaried professionals are given below as follows:

  • Passport size photographs
  • Identity proof like Passport, Aadhar, Pan Card, Driving License and other documents
  • Bank Account Front Copy Xerox
  • Statement of Bank Account for the last six months
  • Assets and Liabilities Statement
  • Last 3 months salary slips
  • Copy of the IT returns for the last 3 financial years
  • TDS (Tax declaration and saving) Certificates

Documents Needed For Self Employed Professionals:

  • Passport Size Photographs
  • Bank Account Statement Xerox
  • Bank Statements Xerox
  • Residential Proof like telephone bills, mobile bills, electricity bills, water bills and others
  • Assets and Liabilities Statement Xerox
  • Three Year IT Assessment Form Xerox
  • Legal Document of the Company (Xerox)

Advantage of Home Loans In India:

Some of the advantages of the home loans in India are given below as follows:

Increased Loan Amount:  A superior home loan will have a very highest loan amount for its customer In India. Instalment is paid by customer on a monthly basis.

Sense of Achievement: Good Home Loans offers sense of achievement, as purchasing a home is bigger than winning world cup. When you enter your newly built/purchased house, a sense of pride will slowly sink in.

Reasonable Interest Rate:  Lovely home loans come with reasonable interest rates. Best home loans experience up and down as well. At present it is steady at approx 9.10%, however, due to demonetization drive by Modi government, it may go down as real estate has been hit very badly.

Amazing Tax Benefits: Wonderful tax benefits are available with people opting for the home loans in India. Deduction of interest can be claimed in which construction of house is done. Suppose you constructed house on August 1, 2014, you can claim interest deduction for next 12 months in 2015.

Disadvantages of Home Loans in India:

Some of disadvantage of home loans in India are as follows:

Rate of Interest: Rate of interest for the home loans will never change. It will impact the common man and people from middle class, as they will not be able to bear the cost.

Influenced by Location:  Home loans may nor may not given if your land is located in sub-urban area rural areas. However, if your asset is located in centre of the city, then you will get home loans.

Cost of Real Estate: Cost of the real estate has changed considerably. Indians are not able to bear the increasing cost of real estate.

Long Term Commitment: Most of the home loans require long term commitment. Unfortunately, if you are not able to have a stable job, then payment towards the home loans will take a huge hit.

Hence, Best home loan service providers like Moneymindz, are here to stay forever in India to take care of Indians willing to purchase the house.

For More Information

Give Us a Missed Call On 022 – 62116588

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The insurance available to secure a person against any kind of disaster/accidents is known as the Accidental Insurance. India is always prone to accidents and approx 400 people die per day. Hence Accidental Insurance is here to stay.

Accidental Insurance Importance:

Accidental Insurance is the major part of any insurance and cannot be ignored. Unfortunately, the people do not have clear knowledge about the need for accidental insurance.  

You must browse the details regarding the accidental insurance plans, and select the accidental insurance plans in a systematic manner.

We take insurance cover to protect our families, and do use it to cover against accidents and untoward incidents.  If you look at newspapers in India, there is lot of accidents taking place. People lose their lives and some of them become disabled for life. Accident big or small, can wipe out your hard earned savings.

Advantages of Accidental Insurance:

Accidental Insurance comes with various helpful features like:

  • Covers Various Accidents: Good Insurance policy covers various accident types, ranging from minor to major. Falling from bicycle, getting hit by car can be handled by good accidental insurance.
  • Superb Premium Rates:  A fine accidental insurance is armed with reasonable premium rates.
  • Spectacular Coverage: A good accidental insurance is excellent in giving fine coverage against partial and full disability to the policyholder.
  • Hospitalization Benefits: A superb accidental insurance is good in offering great hospitalization benefits to the policyholder. The patient has to be hospitalized at least, for 24 hours in normal situations and maximum for 7 days.
  • Comprehensive Coverage: Major aspect of the accidental insurance plan deals with covering accidental death, temporary and permanent disability.
  • Cover Influenced By Profession: One can have various kinds of accidental insurance, as long as you can pay premium on regular basis. Coverage of the person solely influenced by profession, grade and the salary he/she receives.
  • Exciting Add-ons: Great Accidental Insurance policy has exciting features available. In case of parent’s death, the benefits will automatically go to the children.
  • Super Fast Settlement: Most of the accidental insurance in India, believes in faster claims processing. This helps the policyholder to get benefits as soon as possible.
  • Awesome Renewals: An accidental insurance encourages plan renewals on an yearly basis. Retention team of insurance companies are doing a spectacular job in encouraging the existing policyholders to renew their accidental insurance cover.
  • Designed For All Purpose: Finest accidental insurance coverage is ideal for any geographical locations. You can use your accidental insurance coverage anywhere. Better to be very safe, than feeling sorry. After all it is your life.

Disadvantages of Accidental Insurance:

Accidental insurance comes with disadvantages like:

  • Does Not Cover Everything: Accidental Insurance is a very tricky kind of Insurance and unfortunately do not cover everything
  • Not Effective Payout: Most of the payouts are not done on time and hence, one cannot say that accident insurance is good.
  • Not So Simple: Unfortunately, the terms and conditions of accidental insurance is not simple. One needs to comprehend the meaning of the terms and conditions in a proper manner.
  • Very Costly: Most of the accidental insurance claims are costly and comes with huge price tag. Greater the coverage, greater the premium to be paid and hence policyholder will suffer.
  • Only Against Accidents: Most of the accidental insurance is tailored to protect only against the accidents. However, the fatalities occur due to life threatening diseases.

Exclusions Of Accidental Insurance:

Accidental Insurance comes with various exclusions and some of them are as under:

  • Senior Citizens above 70 Years of age
  • Self Inflicted wounds and injuries
  • Drugs and Alcohol Influence
  • Participating in sports like skydiving, professional diving, and polo and having accidents
  • Dead or getting critically injured in Army/Navy/Air-force
  • Accidents taking place outside India
  • Disease arising 24 hours after the accident
  • Injury caused due to weak legs, polio, and other pre-existing diseases not covered

So, what are you waiting for? Call the nearest Accident Insurance Advisor and take the best plan.

For More Information

Give Us a Missed Call On 022 – 62116588

(Or)    Download Our Money Mindz -Expert Seller

(Or )  Visit :

Read more