TURKISH-ISLAMIC UNION IS A MUST AGAINST THE OPPRESSION IN CHINA AND THE WORLD

Muslims are living under difficult circumstances in various regions of the world. The people of East Turkestan (Xinjiang) in the extreme West of China, for instance, have been exposed to severe repression for the last 50 years in particular. Life in East Turkestan, the majority of whose population are Uighurs, is far more troubled than any other region of China. The number of people killed in East Turkestan together with post-1965 massacres is the unbelievable figure of 35 million. Occupation, repression and sanctions have brought the region nothing but tension, disorder and hatred. The days of exploiting nations by such means are dead and gone. For that reason, if China permits the people of East Turkestan to govern themselves and grants the country economic independence it will gain enormous advantages. An East Turkestan able to manufacture freely within its own borders, living in freedom and freed from the influence of fear and oppression, can represent a new center of progress for China. These rights can be given to the people of East Turkestan thanks to the Turkish-Islamic Union, which will enjoy great power and authority. If such a power acts as guarantor, China's relations with the millions of Muslims in the country will be strengthened. China must be convinced and given guarantees that an East Turkestan that is emotionally bound to the Turkish-Islamic Union will not behave in a hostile manner toward China but will contribute to China's becoming a super-power. The ...

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All Purpose Loan - Loan Against Property

Loan against property is an all purpose loan. A loan can be taken for any purpose in the time of financial emergency.  There is personal loan but it is tagged with a high interest rate along with short loan repayment tenure. Therefore many people are not able to take personal loan. If you own a house you can take loan against and it turns out to be cheaper than a personal loan. The reason behind this is the lender has the mortgaged property as security with it therefore there is no tension of defaulter of loan amount. While in the personal loan there are no such security norms.

The loan given against property has a long repayment period, generally 10 years. The loan can be taken for any financial requirement whether it is for funding of the existing business in case of debt consolidation, any emergency, education, marriage or other constraints. In case of personal loan you have to specify the reason for taking loan but in this loan there is no such rule but if your loan amount is Rs 25.00 lacs and above then you have to specify the purpose of the loan.

For instance the country's largest public sector bank SBI has a clause that the loan can be taken for any purpose what so ever. In case the amount of loan is Rs 25.00 lacs and above then purpose of loan will have to be specified along with an undertaking that loan will not be used for any provisional purpose whatever including speculation on real estate and equity shares.

Some of the banks give the loan against both types of properties whether residential or commercial but some of them give loan against only the residential property. The loan amount can range from Rs 10 lakhs to Rs 3 crores, though the amount varies from lender to lender.

Some of the banks offer special schemes along with this loan like free personal accident insurance cover.

To get this loan you must be above 21 years of age and the maximum is 60 years, whether salaried of self-employed. For instance the largest public sector bank the State Bank of India has the following eligibility criteria - an individual who is: an employee or a professional, self-employed or an income tax assesse or engaged in agricultural and allied activities. Bank has fixed the maximum age limit to 60 years.

Though, some banks have fixed the maximum age limit for self-employed individuals to 65 years. The salaried applicants should be employed continuously for at least three years.

Documentation

Documents required for applying for loan are:

Proof of identity (passport, driving license etc).
Proof of residence address (passport, electricity bill etc), and proof of age (birth certificate, school leaving certificate, passport etc).
Salaried individuals must submit their latest acknowledged IT returns or bank statements for the last three months.
Self-employed individuals can submit computation of income for the last two years certified by a charted accountant.

In this loan there is a facility of an overdraft. Some banks offer this facility. The big advantage of taking this loan using the overdraft option is that the borrower has to pay the interest only on the money withdrawn, till the time loan is repaid.

While in the normal course the interest is paid on the entire amount throughout the tenure of the loan.

Before finalizing a bank check for the fees and penalties. Banks charge processing fees - is the amount charged by banks to cover the cost of processing your loan. The amount range varies from bank to bank. The fee amount is generally between 0.25 to 2%. The foreclosing of the loan before the actual tenure carries prepayment penalty.

Some banks charge this as a percentage of the outstanding principal of the loan amount. Therefore study all the features and terms and conditions carefully.

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