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    nydalal's Avatar
    nydalal Posts: 9, Reputation: 1
    New Member
    		  
    #1

    Jul 7, 2008, 04:49 PM
    Questions on personal loan
    Hi Experts,

    I am working here in US on H-1 Visa since 2005. I have got very good credit history here. I would like to buy property in India and hence I am looking for a personal loan in US. The money I would get as personal loan would go for existing properties maintenance as well.

    I have got couple of questions here:

    1. Will I be eligible for personal loan here? Do I need to say that the amount , I will be sending to India and will be spent there for properties there.

    2. What are the tax consequences in US?

    Ni
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jul 7, 2008, 06:47 PM
    1. For personal loan talk to your bank or a financial institution.
    2. There is no tax consequence.
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