Archive · 26 Jul 2025
Reader Questions on Home Loans, Credit Cards, and LAP Answered
This article answers readers' financial questions.
One question involves advance EMIs on a home loan, which reduce the loan's total cost but impact cash flow.
Another reader asks how to fix an error in their credit report by contacting CIBIL.
A reader inquired whether they need to update their home loan details after a PAN change, the answer is no.
The article suggests converting credit card debt to EMIs for easier repayment, but interest still accrues.
Lastly, it discusses loan against property, which doesn't require proof of how you use the money but demands the ability to repay.
Advance EMIs reduce the loan amount from the beginning, lowering the total interest paid.
Rectify incorrect CIBIL records by submitting a request and documents on the CIBIL website.
Updating father's name in PAN does not require updates to home loan records.
Converting credit card debt to EMIs can help with repayment but interest still accumulates.
Loan against property (LAP) does not require end-use proof but requires proof of repayment ability.
- Who
- Financial advisor Chaitali Dutta answers reader questions.
- What
- Answers to readers' financial queries.
- When
- Not explicitly stated in article, but the topics are relevant as of the publishing date.
- Where
- Not specified in the articles.
- Why
- To provide clarity on loan and financial product issues.
Reader
Financial Advisor
Home Loan EMI
Reader
Concerned about advance EMIs and repayment start date.
Financial Advisor
The lender.
- Home Loan Example
- Rs 72 lakh disbursed with advance EMIs
- CIBIL Rectification Website
- www.cibil.com
- Credit Card Debt Issue
- Rs 3 lakh outstanding
- LAP Requirement
- Steady income and tax returns are needed
- Advance EMIs
- Reduce loan outstanding from start