Hey,
Most of us have concerns about availing of loans from banks. You need to think about the loan amount, terms and conditions, interest rate, which bank provided non recourse home loan in India, which bank provides the best personal loans etc. It takes a sample of research to answer these doubts.
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Meaning of Non recourse home loan in India :
It is a loan in which the lender cannot go after more than the collateral offered for the loan. This type of loan is beneficial for the borrower because the lender cannot seize other assets to recoup their losses. Most banks don't offer this loan. If you have a good credit history, you might be able to persuade the bank to offer a non-recourse loan.
These loans come with a high-interest rate. The terms and conditions of collateral and down payment can vary from bank to bank.
Lender :
The biggest disadvantage for the bank while offering the customers non-recourse loans is that it leaves them vulnerable to losses in case the customer defaults on the loan repayment. Reserve bank of India and private banks like HDFC and ICICI Bank offer this loan to borrowers with high creditworthiness. If you are unsure about your bank offering recourse and nonrecourse loan, I would suggest you speak with your bank manager.
I hope my answer on which bank provided non recourse home loan in India helps you out.
Read more: What is a good CIBIL score for home loan? How to check active loan on PAN card?
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Authors Of The Question
Which bank provided non recourse home loan in India?
Hemant
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1 Answers
1 Year
2022-12-27T14:25:07+00:00 2022-12-27T14:25:08+00:00Comment
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