

Stay Up-to-Date with Our
Blogs & Articles
How To Fund The Down Payment Of A Home Loan Or Car Loan?

Are you looking for crossing the down payment obstacle?
How to fund the down payment of a loan?
Lenders usually fund 80-90% of the property value in case of a home loan. The same goes with automotive loan also. If you have good credit score, 90% of the on road price of the vehicle can be financed. But there is a remaining down payment that needs to be borne by the purchaser. Right. If you are going to make out a big purchase, then down payment becomes a burden on your shoulders. The truth is - everyone is not able to save so much to pay the down payment without taking help from any lender. Here, where the importance of personal loan comes in.
What is a Personal Loan?
A personal loan can be defined as a loan that is not secured against any asset. This is an unsecured loan to meet your current financial needs. Today, there is a facility of an instant sanction & fast disbursal of personal loans. And what would be more convenient for the applicant, when he don have to give any guarantee, clarification & security on his personal loan.
Things to Consider While Using Personal Loan as Your Down Payment
1. In this information age, there is speedy processing of applications everywhere. While going for personal loans, find out where you can get instant sanction & fast disbursal facility. In this context, IIFL Express Personal Loan, a unique product of the IIFL Finance promises the same.
2. Many lenders laid certain guidelines regarding sourcing of the down payment for the personal loan. Check out the same and proceed accordingly, to avoid any problem at the later stage.
3. A monetary gift from your parents, savings certificate, retirement funds and other instruments for investment will help you to meet your down payment expense. So, separate how much you can manage as your down payment from all these and how much remaining you need to avail of a personal loan.
4. In addition to interest cost, there are other charges like processing, prepayment & late payment fees that need to be borne by the applicants for his personal loan. While calculating the fees, include all these costs and then make out the decision accordingly.
5. You can check the personal loan interest rates of different lenders on different portals. But don apply every time for just checking the rates because this affects your CIBIL score in a negative way. Even a call to customer care department of the company can resolve your queries.
6. It is always good to check your CIBIL score before applying for a personal loan. This gives you a chance to enhance your CIBIL score and applies at the right corner.
7. Say o to offers which may seem not suitable to you like an accidental insurance plan, in a case of personal loans.
8. If possible, keep the tenure short because the longer the tenure, the higher is the compound interest.
9. Don borrow money to invest in equities & volatile things in hope of higher returns. This is because if the Sensex crashes, there will be loss and you would also end tying up yourself with a personal loan EMI.
10. Though it takes a considerable amount of time in reading the terms & conditions carefully. However, we suggest you go through the agreement document to avoid any problem at the later stage.
11. If you wish to borrow the amount, discuss this with your family. Keep your family in the loop, so that there would not be any difficulty in managing the personal finances.
In case you are running short of money to make the down payment, go or personal finance from a lender. You can check several attractive offers running at the time and avail exciting offers and lowest interest rate.
Tags
Latest Blogs
Home Loans

How to Claim Tax Benefits on a Second Home Loan
Read More
IIFL Home Loans | Aug 04 6:38 AM
Home Loans

How to Claim Tax Benefits on a Second Home Loan
Read More
IIFL Home Loans | Aug 04 6:38 AM
Home Loans

How to Claim Tax Benefits on a Second Home Loan
Read More
IIFL Home Loans | Aug 04 6:38 AM
Home Loans

How to Claim Tax Benefits on a Second Home Loan
Read More
IIFL Home Loans | Aug 04 6:38 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Guidelines for Affordable Home Loan Balance Transfer
Read More
IIFL Home Loans | Jul 12 6:18 PM
Home Loans

Guidelines for Affordable Home Loan Balance Transfer
Read More
IIFL Home Loans | Jul 12 6:18 PM
Home Loans

Guidelines for Affordable Home Loan Balance Transfer
Read More
IIFL Home Loans | Jul 12 6:18 PM
Home Loans

Guidelines for Affordable Home Loan Balance Transfer
Read More
IIFL Home Loans | Jul 12 6:18 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

How to Avail Loan against Property for Business
Read More
IIFL Home Loans | Jul 06 7:14 AM
Home Loans

How to Avail Loan against Property for Business
Read More
IIFL Home Loans | Jul 06 7:14 AM
Home Loans

How to Avail Loan against Property for Business
Read More
IIFL Home Loans | Jul 06 7:14 AM
Home Loans

How to Avail Loan against Property for Business
Read More
IIFL Home Loans | Jul 06 7:14 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

What Is a Pre-approved Home Loan and Its Benefits
Read More
IIFL Home Loans | May 15 5:28 AM
Home Loans

What Is a Pre-approved Home Loan and Its Benefits
Read More
IIFL Home Loans | May 15 5:28 AM
Home Loans

What Is a Pre-approved Home Loan and Its Benefits
Read More
IIFL Home Loans | May 15 5:28 AM
Home Loans

What Is a Pre-approved Home Loan and Its Benefits
Read More
IIFL Home Loans | May 15 5:28 AM
Home Loans

What Is a Pre-approved Home Loan and Its Benefits
Read More
IIFL Home Loans | May 15 5:28 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Key Factors Affecting Your Home Loan Amount Eligibility
Read More
IIFL Home Loans | May 12 11:58 AM
Home Loans

Key Factors Affecting Your Home Loan Amount Eligibility
Read More
IIFL Home Loans | May 12 11:58 AM
Home Loans

Key Factors Affecting Your Home Loan Amount Eligibility
Read More
IIFL Home Loans | May 12 11:58 AM
Home Loans

Key Factors Affecting Your Home Loan Amount Eligibility
Read More
IIFL Home Loans | May 12 11:58 AM
Home Loans

Key Factors Affecting Your Home Loan Amount Eligibility
Read More
IIFL Home Loans | May 12 11:58 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Affordable Home Loans In India And IIFL Home Loans
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

Affordable Home Loans In India And IIFL Home Loans
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

Affordable Home Loans In India And IIFL Home Loans
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

NCD Vs FD: What Is The Difference Between The Two?
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

NCD Vs FD: What Is The Difference Between The Two?
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

NCD Vs FD: What Is The Difference Between The Two?
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

Home Loans

Home Loans

7 Expert Tips For First-Time Home Loan borrowers
Read More
IIFL Home Loans | Nov 02 9:30 AM
Home Loans

Home Loans

Home Loan Balance Transfer - Step By Step Guide
Read More
IIFL Home Loans | Nov 02 9:30 AM
Home Loans

Home Loans

Home Loans

Steps To Close A Home Loan Without Complications
Read More
IIFL Home Loans | Aug 24 9:48 AM
Home Loans

Frequently Asked Questions: Post RBIs Moratorium On Loan
Read More
IIFL Home Loans | Sep 05 12:15 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Best Tips To Get Lowest Home Loan Interest Rates
Read More
IIFL Home Loans | Oct 03 12:15 PM
Home Loans

Best Tips To Get Lowest Home Loan Interest Rates
Read More
IIFL Home Loans | Oct 03 12:15 PM
Home Loans

Best Tips To Get Lowest Home Loan Interest Rates
Read More
IIFL Home Loans | Oct 03 12:15 PM
Home Loans

Best Tips To Get Lowest Home Loan Interest Rates
Read More
IIFL Home Loans | Oct 03 12:15 PM
Home Loans

Best Tips To Get Lowest Home Loan Interest Rates
Read More
IIFL Home Loans | Oct 03 12:15 PM
Home Loans

Best Tips To Get Lowest Home Loan Interest Rates
Read More
IIFL Home Loans | Oct 03 12:15 PM
Home Loans

Success Tips For Young First-Time Home Buyers
Read More
IIFL Home Loans | Oct 03 11:45 AM
Home Loans

Success Tips For Young First-Time Home Buyers
Read More
IIFL Home Loans | Oct 03 11:45 AM
Home Loans

Success Tips For Young First-Time Home Buyers
Read More
IIFL Home Loans | Oct 03 11:45 AM
Home Loans

Success Tips For Young First-Time Home Buyers
Read More
IIFL Home Loans | Oct 03 11:45 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

How To Claim Tax Benefits On Joint Home Loans?
Read More
IIFL Home Loans | May 21 2:45 PM
Home Loans

How To Claim Tax Benefits On Joint Home Loans?
Read More
IIFL Home Loans | May 21 2:45 PM
Home Loans

How To Claim Tax Benefits On Joint Home Loans?
Read More
IIFL Home Loans | May 21 2:45 PM
Home Loans

How To Claim Tax Benefits On Joint Home Loans?
Read More
IIFL Home Loans | May 21 2:45 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

5 Things to Consider Before Refinancing a Home Loan
Read More
IIFL Home Loans | Feb 21 3:30 PM
Home Loans

5 Things to Consider Before Refinancing a Home Loan
Read More
IIFL Home Loans | Feb 21 3:30 PM
Home Loans

5 Things to Consider Before Refinancing a Home Loan
Read More
IIFL Home Loans | Feb 21 3:30 PM
Home Loans

5 Things to Consider Before Refinancing a Home Loan
Read More
IIFL Home Loans | Feb 21 3:30 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

SIPs Can Help You to Pay Your Home Loan Interest
Read More
IIFL Home Loans | Nov 15 1:00 PM
Home Loans

SIPs Can Help You to Pay Your Home Loan Interest
Read More
IIFL Home Loans | Nov 15 1:00 PM
Home Loans

SIPs Can Help You to Pay Your Home Loan Interest
Read More
IIFL Home Loans | Nov 15 1:00 PM
Home Loans

SIPs Can Help You to Pay Your Home Loan Interest
Read More
IIFL Home Loans | Nov 15 1:00 PM
Home Loans

SIPs Can Help You to Pay Your Home Loan Interest
Read More
IIFL Home Loans | Nov 15 1:00 PM
Home Loans

SIPs Can Help You to Pay Your Home Loan Interest
Read More
IIFL Home Loans | Nov 15 1:00 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

What are the Best Real Estate Areas in Bangalore?
Read More
IIFL Home Loans | Jul 07 2:30 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Policies Increase the Efficiency of the Work Process!
Read More
IIFL Home Loans | Jun 01 12:45 PM
Home Loans

Policies Increase the Efficiency of the Work Process!
Read More
IIFL Home Loans | Jun 01 12:45 PM
Home Loans

Policies Increase the Efficiency of the Work Process!
Read More
IIFL Home Loans | Jun 01 12:45 PM
Home Loans
Tax Planning

Home Loans
Tax Planning

Home Loans

What Are The Benefits Of Buying A House in 20s
Read More
IIFL Home Loans | Apr 06 5:45 PM
Home Loans

What Are The Benefits Of Buying A House in 20s
Read More
IIFL Home Loans | Apr 06 5:45 PM
Home Loans

What Are The Benefits Of Buying A House in 20s
Read More
IIFL Home Loans | Apr 06 5:45 PM
Home Loans

What Are The Benefits Of Buying A House in 20s
Read More
IIFL Home Loans | Apr 06 5:45 PM
Home Loans
Tax Planning

Home Loans
Tax Planning

Home Loans
Tax Planning

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Calculate Your Eligibility With Home Loan Calculator
Read More
IIFL Home Loans | Feb 07 11:00 AM
Home Loans

Calculate Your Eligibility With Home Loan Calculator
Read More
IIFL Home Loans | Feb 07 11:00 AM
Home Loans

Calculate Your Eligibility With Home Loan Calculator
Read More
IIFL Home Loans | Feb 07 11:00 AM
Home Loans

Calculate Your Eligibility With Home Loan Calculator
Read More
IIFL Home Loans | Feb 07 11:00 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Hacked!!! Why Indian Sailors Get a Loan Rejection?
Read More
IIFL Home Loans | Oct 21 2:15 PM
Home Loans

Hacked!!! Why Indian Sailors Get a Loan Rejection?
Read More
IIFL Home Loans | Oct 21 2:15 PM
Home Loans
Pradhan Mantri Yojana

Home Loans
Pradhan Mantri Yojana

Home Loans
Pradhan Mantri Yojana

Home Loans
Pradhan Mantri Yojana

Home Loans
Pradhan Mantri Yojana

Home Loans
Pradhan Mantri Yojana

Home Loans

10 Things You Must Know About Home Loan EMI Calculator
Read More
IIFL Home Loans | Oct 05 12:15 PM
Home Loans

10 Things You Must Know About Home Loan EMI Calculator
Read More
IIFL Home Loans | Oct 05 12:15 PM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Here are 6 ways to Save Money on Your Home Loan
Read More
IIFL Home Loans | Aug 05 12:15 PM
Home Loans

Here are 6 ways to Save Money on Your Home Loan
Read More
IIFL Home Loans | Aug 05 12:15 PM
Home Loans

5 Hacks for Improving the Home Loan Eligibility
Read More
IIFL Home Loans | Jul 18 3:45 PM
Home Loans

5 Hacks for Improving the Home Loan Eligibility
Read More
IIFL Home Loans | Jul 18 3:45 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Whether taking home loan is a wise decision or not?
Read More
IIFL Home Loans | Apr 14 2:15 PM
Home Loans

Whether taking home loan is a wise decision or not?
Read More
IIFL Home Loans | Apr 14 2:15 PM
Home Loans

Whether taking home loan is a wise decision or not?
Read More
IIFL Home Loans | Apr 14 2:15 PM
Home Loans

Whether taking home loan is a wise decision or not?
Read More
IIFL Home Loans | Apr 14 2:15 PM
Home Loans

Yes, Every Home Loan Needs Insurance. Here Why
Read More
IIFL Home Loans | Apr 14 11:30 AM
Home Loans

Yes, Every Home Loan Needs Insurance. Here Why
Read More
IIFL Home Loans | Apr 14 11:30 AM
Home Loans

Yes, Every Home Loan Needs Insurance. Here Why
Read More
IIFL Home Loans | Apr 14 11:30 AM
Home Loans

Yes, Every Home Loan Needs Insurance. Here Why
Read More
IIFL Home Loans | Apr 14 11:30 AM

Prelude to Building Green - IIFL Home Loan's Guide to Sustainable Affordable Housing
Download report
Most Read Blogs
Home Loans

10 Things You Must Know About Home Loan EMI Calculator
Read More
IIFL Home Loans | Oct 05 12:15 PM
Home Loans

5 Hacks for Improving the Home Loan Eligibility
Read More
IIFL Home Loans | Jul 18 3:45 PM
Home Loans

5 Things to Consider Before Refinancing a Home Loan
Read More
IIFL Home Loans | Feb 21 3:30 PM
Home Loans

Home Loans

6 Things To Consider While Choosing Your Home
Read More
IIFL Home Loans | Oct 01 11:45 AM
Home Loans

Home Loans

7 Expert Tips For First-Time Home Loan borrowers
Read More
IIFL Home Loans | Nov 02 9:30 AM
Home Loans

Home Loans

Home Loans

Affordable Home Loans In India And IIFL Home Loans
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

Home Loans

Home Loans

Best Tips To Get Lowest Home Loan Interest Rates
Read More
IIFL Home Loans | Oct 03 12:15 PM
Home Loans

Calculate Your Eligibility With Home Loan Calculator
Read More
IIFL Home Loans | Feb 07 11:00 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Frequently Asked Questions: Post RBIs Moratorium On Loan
Read More
IIFL Home Loans | Sep 05 12:15 PM
Home Loans

Guidelines for Affordable Home Loan Balance Transfer
Read More
IIFL Home Loans | Jul 12 6:18 PM
Home Loans

Hacked!!! Why Indian Sailors Get a Loan Rejection?
Read More
IIFL Home Loans | Oct 21 2:15 PM
Home Loans

Home Loans

Home Loans

Here are 6 ways to Save Money on Your Home Loan
Read More
IIFL Home Loans | Aug 05 12:15 PM
Home Loans

Home Loan Balance Transfer - Step By Step Guide
Read More
IIFL Home Loans | Nov 02 9:30 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

How to Avail Loan against Property for Business
Read More
IIFL Home Loans | Jul 06 7:14 AM
Home Loans

Home Loans

How to Claim Tax Benefits on a Second Home Loan
Read More
IIFL Home Loans | Aug 04 6:38 AM
Home Loans

How To Claim Tax Benefits On Joint Home Loans?
Read More
IIFL Home Loans | May 21 2:45 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Key Factors Affecting Your Home Loan Amount Eligibility
Read More
IIFL Home Loans | May 12 11:58 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

NCD Vs FD: What Is The Difference Between The Two?
Read More
IIFL Home Loans | Nov 23 4:12 AM
Home Loans

Home Loans

Home Loans

Home Loans

Policies Increase the Efficiency of the Work Process!
Read More
IIFL Home Loans | Jun 01 12:45 PM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

SIPs Can Help You to Pay Your Home Loan Interest
Read More
IIFL Home Loans | Nov 15 1:00 PM
Home Loans

Steps To Close A Home Loan Without Complications
Read More
IIFL Home Loans | Aug 24 9:48 AM
Home Loans

Home Loans

Success Tips For Young First-Time Home Buyers
Read More
IIFL Home Loans | Oct 03 11:45 AM
Home Loans

Home Loans

Home Loans

Home Loans

Home Loans

What Are The Benefits Of Buying A House in 20s
Read More
IIFL Home Loans | Apr 06 5:45 PM
Home Loans

What are the Best Real Estate Areas in Bangalore?
Read More
IIFL Home Loans | Jul 07 2:30 PM
Home Loans

What Is a Pre-approved Home Loan and Its Benefits
Read More
IIFL Home Loans | May 15 5:28 AM
Home Loans

Home Loans

Home Loans

Whether taking home loan is a wise decision or not?
Read More
IIFL Home Loans | Apr 14 2:15 PM
Home Loans

Yes, Every Home Loan Needs Insurance. Here Why
Read More
IIFL Home Loans | Apr 14 11:30 AM
Home Loans

Disclaimer: The information contained in this post is for general information purposes only. IIFL Home Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment, etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness, or of the results, etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability, and fitness for a particular purpose. Given the changing nature of laws, rules, and regulations, there may be delays, omissions, or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan product specifications and information that may be stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan.