Loan Counseling

Try answering some of all of these questions before you avail your loan

  1. Who is the best option among a bank, an NBFC and an HFC & why!
  2. Which bank/ NBFC / HFC & why!
  3. Are you only being impressed by the obvious (e.g. rate of interest)!
  4. Is your application usual or different in any way!
  5. Have you checked your credit report!
  6. Do you know how financers read & interpret your credit history!
  7. Do you have any special requirements!
  8. Do you even know that you can actually avail of some special structuring!
  9. Can you get the needful in the time span suited to you!
  10. Are you sure there are no hidden clauses in the offer you are getting!
  11. Do you know everything about the property you are purchasing/mortgaging!
  12. Are you paying the right price!
  13. Is the financer's valuation going to match up with your estimated value!
  14. Are you sure about the exact tax implications!
  15. Can you make your proposal more tax friendly in any way!

Do you think its getting too much to handle ...wait, these are in fact summary questions (and we haven't even covered all summary questions!). If we get to finer details, the list can be endless.

ABOVE ALL, the million–dollar question is – 'Do you even know what to expect?'

There are 2 types of answers to above questions.

One is with vested interest. Herein a particular financer/ agent will answer almost every question favorably. Second is the general answer (so called expert opinions you come across in various articles) that gives you global gyan and then leaves it to you to ponder forever!

So, what's the right answer anyway?

There can never be a universal right answer to any of these questions. When it concerns YOU, the answers have to be found with YOU in mind. It's very rare that all answers lead to same conclusion for same reasons for any two people. The right way for each individual is to navigate his way through all the questions and then arrive at the best possible solution INSTEAD of having any pre–conceived notions about anything at all. Because if you decided without digging deep in every aspect, just like the earlier confusion of not knowing what to expect – 'you will never even know what you lost'?

You think you managed a great bargain BUT had you known everything, you would be left wondering....

  • May be I would have paid lesser interest (even though I chose the lowest rate)!
  • May be I would have taken higher loan and protected my valuable savings OR avoided the trouble of raising additional funds!
  • May be I would have taken the other property or car which I liked the most but declined as I thought it couldn't be funded!
  • May be taking this personal loan wasn't a good idea in the first place!
  • May be the longest possible loan tenor wasn't good for me!
  • May be the shortest possible tenor wasn't good for me!
  • May be I wasted my hard earned money on that Insurance which I really didn't need!
  • May be all of those charges weren't really mandatory!
  • May be I shouldn't have hurried on and waited for another month!
  • May be it was better to buy this property in my spouse/parent's name!
  • May be it was better to buy this property in my own name!
  • May be it was better to buy this property in multiple names!
  • May be I should have checked with these other dealers before finalizing my car purchase!
  • Oh! So, this was the reason they were offering discounts on this car!
  • Oh! So, this was the reason the salesman kept praising this car!

You can yourself add a few dozen more 'May be' and 'Oh! So' to this list.

Although No one can guarantee a complete elimination of post facto regrets. When we engage in our loan counseling – we will strive to get as close to 'regret elimination' as possible in following steps

  1. A complete understanding of your requirements.
  2. Counsel you on 'what all you can expect'!
  3. Match your expectations with all the offerings of various lenders.
  4. Give you a summary report with pros and cons of various options.
  5. (Counseling ends here – however, if you would like us to take it further then...)
  6. You select – we deliver.