Buying your first home with home loans is easy. A hassle-free loan application process ensures that you are informed and aware of all that goes on as you transform your dream of home ownership into reality. A dedicated relationship manager is always on-call if you need any help with understanding the process at any stage.
With flexible repayment options, you can control the amount you repay monthly. You can lower this amount by increasing the tenure, thereby, freeing up funds for other investments or needs that may arise. You can also choose a shorter term to repay the loan faster, if possible, with your existing income. Your loan application is also processed quickly. The funds can also be used to help you purchase your dream home available for re-sale.
Home buying is not just fulfilling your immediate need, but it is also a good investment as the property value increases over the years. Whether it is a plot, home or apartment you want to invest in, it will provide better returns over the course of time. This is one investment that will continue to pay dividends for the rest of your life.
Tax benefits on home loans may be availed during filing of annual income tax returns. Home loan borrowers are eligible for tax benefits on home loan as per Section 80 C of the Income Tax Act. The following tax benefits can be availed by home loan borrowers -
Your Equated Monthly Instalment depends on the principal loan amount, the interest rate charged and the period for which the loan is taken.
Yes, it is possible for you to prepay your home loan, either in part or in full, keeping the following in mind –