Tuesday, February 23, 2010

I am an Indian who is working inQatar. I want to buy house from India. Is it advisable to take loan from Indi?

a or taking loan from Qatar and buy house in India. Pl advice. Which one is profitable for me. Thanks.I am an Indian who is working inQatar. I want to buy house from India. Is it advisable to take loan from Indi?
doha bank is now a days giving Personal loan 10 month salary for working in reputed companies but it charges 9 to 11 % so it is very high than indian banks housing loan so my suggestion is better take in india is better //////////////////////I am an Indian who is working inQatar. I want to buy house from India. Is it advisable to take loan from Indi?
Akram has given you the answer, since you are buying home in India, you have to apply for home loans there. Check with other banks for lower interest rates, service fee etc. You might have to give power of attorney to one of your trustworthy relatives, some banks will ask for post dated checks which will be withdrawn from a local NRE account.





You have to put down payments upfront, for example 20% of house price and 80% through bank loan. Call few banks and check for interest rates, do some homework to see how your monthly payments going to be.





Good Luck!
couple of months back my friend who is working in saudi had applied for loan thru HDFC bank to buy flat in mumbai by submitting his salary certificate, bank details and contract agreement etc.. Loan approved and they paid money to the builder directly in mumbai thru the bank but for the monthly installment it will be deducted from saudi i.e, it will be profitable from here in gulf rather than in india
Chances are if you are buying house in India,you would have to take a loan there.The bank will take it as a mortage.Unless you take very little loan,which defeats the purpose in the 1st place

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