Ask an Expert
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Date : Apr 23, 2008 Question I have been paying around Rs. 20,839/- as EMI towards existing Personal Loans and Credit Cards. My take home salary is around Rs. 28000 p.m. Now, I have to give 4 lacs of money to my father for my sister’s wedding. I can afford to pay around 18k to 20k p.m. as EMI. All I want is to get one loan of Rs. 8 lacs and clear current 4 lacs of burden and give 4 lacs to my father and still pay the same EMI as I am paying now. That is to pay 20k as EMI towards 8 lacs instead of current 4 lacs. I have provided the table below, which shows the outstanding amount and EMI’s that I am paying currently. Bank Personal Loan / CC Card ROI EMI Total Outstanding No. of EMI’s Paid Total Loan Taken HSBC 16 5857 170000 9 200000 Citibank 14 1776 30000 27 65000 ICICI 14 1345 15000 25 41000 Citifinancial 16 2411 65000 3 63000 ABN Amro (Credit card) 2500 40000 HSBC Credit Card 1100 22000 Deutsche Bank Credit Card 1350 22000 Citibank Credit Card 2500 35000 Axis Bank Cre Answer You can get another personal loan based on your income and repayment track record. But your existing loans will have an impact on your new loan amount. After deducting all your existing EMI's you can get a new personal loan of Rs 50000- Rs 70000. You may want to approach www.apnaloan.com to apply for a personal loan because here is where banks compete for your loan. |
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