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Loan Glossary
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Confused in the Home Loan jargon? Our glossary
will help you in understanding the basic loan related terms.
Browse through the glossary or serach for a term through the
menu to resolve any doubts.
Glossary of Home Loan terms
T
Term
In relation to a loan, means the period from the making of
the loan (or drawdown) until the loan must be repaid. Sometimes
"Term" can also mean a defined period that is shorter
than the whole of loan Term (Eg. Fixed Interest Term).
Title
It is the right and interest over the property evidencing
the ownership.
Tenure of the Loan
This is the period for which a loan is provided (or opted)
to a borrower. Normally, loans are given for a period of
1-15 years. Some companies also give loans up to 20 years
at an additional interest cost of 0.25% -0.5%. |
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