New Housing Loan

New Housing Loan

A Home loan is a secured loan obtained to purchase a property by offering it as collateral. Home loans provide high-value funding at economic interest rates and for long tenors.

A Home loan comes with several added benefits, such as a flexible repayment tenor of up to 30 years and the option to avail of a top-up when you transfer your existing housing loan. Simple eligibility terms and minimal documentation requirements ensure the home financing option is easy to apply for everyone.

Home loans are available with a fixed obligation-to-income ratio. You can get up to 80 per cent of the house value using a Housing Loan. A house loan is also tax-deductible under Section 80C of the Income Tax Act

Banks in the public and private sectors, small finance banks, regular rural banks, foreign banks in India, and non-banking financial companies (NBFCs) offer property loans.

Some banks to name a few are SBI Bank, ICICI Bank, HDFC Bank, IDFC First, Tata Capital, Axis Bank, Kotak Mahindra Bank, IIFL, DHFL, Poonawalla Fincorp, Karur Vysya Bank, Karnataka Bank, Deutsche Bank, PNB Housing, LIC Housing Finance, Yes Bank, IndusInd Bank and some other banks

Property interest rates may range between 8% – 25% per annum. You may get a loan tenure of up to 20 years.

Please check your EMI through the loan EMI Calculator.

You can also check your credit score through a credit score provider

**The above rates may change from time to time. Please check with your bank for the current interest rate.**

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