| Interest Rate | 6.66% p.a. onwards | ||
|---|---|---|---|
| Loan Amount | Up to Rs.5 Cr. | ||
| Loan Tenure | Up to 30 years | ||
| Processing Fee | 0% – 2% of the loan amount + GST | ||
A home loan offers you the chance of owning a residential property and building an asset while at the same time enjoying tax benefits. You have to pay a certain percentage of the property cost, usually up to 20%, out of your funds. The loan amount can be repaid over a fixed period as per your convenience. Both the principal loan amount and the interest repayment are eligible for tax deduction under Income Tax laws.
Home loans help you with a lump-sum advance of funds towards buying your desired property, this amount will be repayable with interest. However, you can re-pay the amount advanced via EMIs (Equated Monthly Installments), thus enabling you to approach realizing your home dream in a convenient and structured way.
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