Yes, you can transfer money from a credit card to a bank account. You can use the net banking app, your smartphone or call your bank.
- Visit your bank's website.
- Enter your credit card information.
- Choose the transfer option.
Enter the amount you wish to transfer. Daily and monthly transfer limits vary from bank to bank. You should check with your bank for the latest information.
You can also transfer money from your credit card to your Paytm wallet and then transfer it to your linked bank account. Paytm offers loading wallet with credit card at zero or less than 1% charges.
You can also transfer money using the mobile app or withdraw cash from an ATM. Before proceeding, you should review the fees and interest rates associated with the transfer.
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| Eligibility of home loan |
What is a home loan
A home loan is a loan provided by banks or non-banking finance companies (NBFCs). It can be used to buy or construct a home, or to renovate or extend an existing home. The home loan amount, interest rate, and repayment period are fixed. The home loan amount is repaid in the form of monthly instalments. The tenure of a home loan can range from 10 to 30 years. Home loans are repaid through EMIs.
How many types of home loans are
A home loan is a long-term financial service. Hence, careful consideration is required before taking a decision.
There are various types of home loans:
- Home Purchase Loan
- Home Improvement Loan
- Home Construction Loan
- Land Purchase Loan
- Home Extension Loan
- Balance Transfer Loan
Apart from these, there are various types of home loans available in India, such as
- Fixed-rate home loan
- Floating-rate home loan
- Hybrid home loan
Eligibility of home loans
For home loans, the younger the age of the applicant, the better the chances of getting a loan. Banks generally avoid lending to people above 60 years of age. For home loans, salaried employees can borrow up to 60 times their monthly salary.
This is not professional financial advice. It is best to speak to a financial advisor for your problems or queries.
Eligibility Criteria for Home Loan:
Documents for home loan
Documents required for home loan
- Personal documents, such as PAN card and Aadhaar card
- Income-related documents, such as bank account statements
- Employment or business-related documents, such as salary slips or profit and loss statements
- Property-related documents
Where I apply for home loans
You have two ways to apply for a loan, first you can go offline and get it from any branch of your chosen bank,
Secondly, you can apply online through the bank's official app or website or through any third party like Bank Bazaar or Policy Bazaar. From here you can compare the interest rates of all banks and NBFCs.
Top websites for a home loan
ICICI Bank
HDFC Bank
State Bank of
India
LIC Housing
Finance
Union Bank
Punjab National
Bank Housing Finance
HDFC Home Loans
Kotak Mahindra
Sbi Home Loans
Housing
Development Finance Corporation
Bajaj Housing
Finance Limited
Indiabulls
Housing Finance Limited
Aditya Birla
Piramal Capital
and Housing Finance Limited
Aditya Birla
Cap
Punjab National
Bank
Sundaram Home
Finance Limited
Bank of Baroda
Axis Bank
Kotak Mahindra Bank
which bank has a cheaper loan
HDFC Bank is at the top in providing cheap home loans. HDFC Bank provides home loans to its customers at a minimum interest rate of 8.50%, Indian Bank 8.50%, Punjab National Bank 8.50%, IndusInd Bank 8.50% and Bank of India 8.50%.