INTERVIEW QUESTIONS LOAN HOME LOAN DETAILS

Question: Do bank home loans cover the cost of expenses like stamp duty and registration charges?

Answer: Banks usually do not take into account the money spent for any statutory expense like stamp duty or registration charges, any VAT or service tax. Banks provide loans only up to 80-85% of the total cost of the property only and as per the agreement / market value, and this is excluding stamp duty and registration charges.

Although some public sector banks offer certain schemes from time to time supporting such a facility for a limited number of people like government employees, professionals etc, it is always a good idea to check with your bank in case if they are offering such a facility. Still I would suggest you to be prepared to make all such statutory expenses from your own pocket.

Banks usually do not take into account the money spent for any statutory expense like stamp duty or registration charges, any VAT or service tax. Banks provide loans only up to 80-85% of the total cost of the property only and as per the agreement / market value, and this is excluding stamp duty and registration charges.

Although some public sector banks offer certain schemes from time to time supporting such a facility for a limited number of people like government employees, professionals etc, it is always a good idea to check with your bank in case if they are offering such a facility. Still I would suggest you to be prepared to make all such statutory expenses from your own pocket. Source: CoolInterview.com

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