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Know about home loan overdraft facility

The amount overdrawn is specific to the maximum borrowing limit as set by the banks. Now coming to home loan overdraft, your home loan online is linked to your savings account with the bank. The customer can deposit any amount of money in that account just like the savings account. Now after the EMI is deducted, the remaining amount is taken as the prepayment towards the home loan.<br>https://www.clix.capital/home-loan/<br><br>

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Know about home loan overdraft facility

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  1. Home Loan Application Rejection Reasons

  2. 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.

  3. 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.

  4. 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.

  5. 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

  6. 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.

  7. 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@clix.capital • Website: www.clix.capital

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