Cisco Financial - Home Loans
Bank will determine your loan eligibility mostly by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.
The moment you decide to buy a home, you can put in your application for a Home Loan with Cisco Financial. You can apply for a Home Loan even before you have finalized the property. The loan amount would be sanctioned or approved, based on your repayment capability.
Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.
It is generally advantageous to take a Housing loan as it would enable you to get tax exemptions. However, please consult your CA/ income tax advisor to know benefits/disadvantages in your specific case.
Yes, your salaries can be clubbed for the purpose of calculation of the loan amount. This can be done either when the property is jointly held with the spouse or the spouse stands as a guarantor. Thus, we ensure a great deal of flexibility in the entire exercise of financing your house.
Commercial Loans - Business Finances
Yes. We have helped many small businesses obtain an business loan/ commercial Loan, even after they have been turned down by other banks.
If you belong to the Self Employed Professional (SEP) category, then you need to be at least 27 years of age to apply for a business loan/ commercial Loan. If you come under the Self Employed Non Professionals (SENP) category, you can have an age-relaxation of 2 years i.e. you need to be at least 25 years old. It is to be mentioned that your age should not exceed 65 years at the time of loan maturity.
Yes. You can pre-pay the loan after repaying a min. of 6 EMIs. Foreclosure charges would be applicable as per the product's term and condition.
A fixed interest rate remains constant throughout the loan tenure regardless of the market conditions whereas a floating interest rate can decrease or increase depending on market fluctuations. It increases when RBI hikes up short term interest rates. Banks usually quote the floating rate loans as their index rate (prime lending rate) plus or minus x%. Banks usually increase or decrease their prime lending rate when the RBI increases or decreases short term interest rates.
Cisco Financial ensure you that we will never share your data with any third party other than the financial institution that you decide to apply for any kinds of financial products from us. Our dedication and commitment label is very strong our company's technology practices ensure a highly secure environment for all of your data.
It depends upon the amount of the advance applied for since applications for the higher amount requires approval at higher levels of the bank and therefore, in such case, little more time is taken. Nevertheless, the bank endeavours to dispose of the advances-applications within 30 days at all levels.
Your loan is repaid through Equated Monthly Instalments (EMI), which includes principal and interest component. EMI repayment starts from the month subsequent to the month of final disbursement. Pre-EMI Interest is the simple interest, payable every month till the time loan amount is not fully disbursed.
Fees are loan specific and are discussed in further detail in the loan package. There are no fees unless you get funded.