I want to take a loan of Rs1.5 lakh for depositing the registration amount for a government housing scheme and pay it after the draw of the scheme. Is there any loan, other than personal loan, which will be less on interest and suits this kind of requirement?

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There are no home loan products in the market where you can get a loan to pay for the registration of government housing schemes. This deposit is supposed to be your down payment for such houses. For making a down payment, you can use the balance from your savings or proceeds of the investments sold. 

If arranging funds for the down payment is still difficult, you can look for friendly loans from your family or friends. If neither is possible, then you can look for secured loans against tangible movable security such as jewellery, NSC (national savings certificate), bonds, shares, units of mutual funds, or life insurance policy with high surrender value. As a last resort, you could look at an unsecured personal loan.

I am planning to buy an existing flat, for which the owner is still under hypothecation with a bank. The current value of the flat is about Rs20 lakh.  But the loan he has from the bank is only Rs10 lakh. If I transfer the loan from the existing bank to a new bank, will the new one give me a loan for `20 lakh? If not, how can I avail loan for Rs20 lakh?

Rhere is no such thing as transfer of loan. The previous owner will have to foreclose the loan that he has taken and you can apply for a fresh loan if your income can justify the loan. If the bank is the same, the process is likely to be easier than otherwise. If your income is sufficient to justify the loan, you should not have any problem in getting a loan of Rs20 lakh (being 80% of registered agreement value of the property), provided the physical condition of the house is good and the valuer of the bank certifies the value as well as balance life being more than the loan tenure.

Frequently, the valuation done by the valuer of the bank is lower than the actual cost and hence your effective down payment goes up.

In a recent medical examination, the doctors informed me I have three fibroids in my uterus. I have been advised to operate it immediately. I have a mediclaim policy of Rs1 lakh. The total expenditure for the operation and other expenses is expected to be Rs60,000. Will I get the full amount or only a part? I have heard they have kept a fix rate for operations, is it true? Approximately, how much will I get if I prefer to claim the expenses after operation, instead of going for a cashless claim?

You have not given details of your policy hence we are unable to give the correct answer

Whether you choose cashless or reimbursement mode to claim hospital expenses, the insurance company will reimburse your claim subject to certain deductions such as “sub-limit” or “co-payment”. Detail information will be available in your policy documents.

Ensure you intimate the insurance company about the potential claim as soon as you are hospitalised and also take submit the claim form within a few days after you are discharged.

My 6-year-old daughter is undergoing a growth hormone deficiency treatment, for which the drug used is Humatrope. It is administered at home (via injection) daily and the treatment is likely to go on for the next 6 months or so. The monthly expense is around Rs13,000. Is there any health insurance plan that would cover these expenses?

If yes, please provide me with the details.

As your daughter is currently undergoing treatment there are no such health insurance plans that will cover your daughter with immediate effect. All insurances have temporary exclusions, under which you cannot claim for preexisting diseases and diseases that occur during the first 30 days of the policy. Moreover, any preexisting disease, if any, will be covered only after completing a certain number of policy years, depending on the insurance company.  In any case, most health policies only cover the expenses incurred in hospital or expenses on diseases that lead to hospitalisation within 30 days or normally expenses incurred on medication/tests prior to hospitalisation with 60 days post hospitalisation.

The policies that cover patient expenses are quite expensive and also have limits of around Rs5,000 per year for such expenses.

Harsh Roongta is CEO, Apna Paisa, a price & features comparison engine for loans, insurance and investments. He can be reached at hrdna@apnapaisa.com.