Home Loans
Purpose:
Home loans enable individuals to purchase, renovate, or construct homes, turning their dream of homeownership into reality.
Benefits:
- Lower interest rates compared to personal loans
- Long repayment tenures up to 30 years
- Tax benefits under sections 80C and 24 of the Income Tax Act
Process:
- Select the property and apply for a loan
- Submit property documents and financial proofs
- Loan is sanctioned after property valuation
- Disbursal to the seller or builder
Eligibility:
- Salaried or self-employed individuals
- Minimum income criteria
Key Features:
- Loan-to-value ratio of up to 90%
- Balance transfer options available