I have no PF Account, and my company is a partnership firm. Can I get a home loan? If yes, then please specify from which bank it's possible. I have received negative responses from most of the banks. Please reply if you have any information regarding this.
Thanks in advance.
From India, Kolkata
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Thanks in advance.
From India, Kolkata
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Home loan has nothing to do with PF. Normally, FIs don’t consider Proprietorship/Partnership firms unless they are reputed. Pon
From India, Lucknow
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616From India, Lucknow
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As per your statement, I think that you are an employee of a partnership firm. You must have an account in some bank where your employer is depositing your monthly salary. It is advisable for you to approach your banker because they know your monthly income and expenditure very well.
As far as the negative response of the banker is concerned, I state that it depends on your monthly income. Every banker considers whether the borrower is capable enough to repay the loan in time or not. I think your loan demand must be on the higher side compared to your monthly income. Please do not try to purchase a house that is beyond your repaying capacity because it is not just a matter of 2 to 5 years but a long-term loan of 10 to 15 years.
Regards,
A. Prakash
From India, Halol
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As far as the negative response of the banker is concerned, I state that it depends on your monthly income. Every banker considers whether the borrower is capable enough to repay the loan in time or not. I think your loan demand must be on the higher side compared to your monthly income. Please do not try to purchase a house that is beyond your repaying capacity because it is not just a matter of 2 to 5 years but a long-term loan of 10 to 15 years.
Regards,
A. Prakash
From India, Halol
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Home Loan Calculator.xls
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