Wondering what to choose to finance your housing needs? You can pick between home loans as well as loans against properties. A home loan is a type of loan where a lending firm finances your new home under the condition
Is it Important to Make a Deposit When Taking a Home Loan?
It is a popular misconception that when you avail of a home loan, the lending firms let you borrow the entire loan amount. It is not true, for lenders are allowed to finance only 80% of any property value of
How Much Money Should I Spend on EMIs?
With the increasing trend of purchasing big-ticket items like houses or cars via EMIs, it is important to evaluate how much money one should allocate toward monthly settlements. Loans are a long-term commitment, especially home loans, and the repayment tenure
What are the five main types of loans?
In India, loans are essential to the financial system, providing people with the necessary funds to fulfill their various needs. With the growth of the Indian economy, the loan market has become more diverse, offering multiple types of loans to
Difference between 80EE and 80EEA when it comes to home loans
Wondering if your home loan interest is taxable? The short answer is yes – the Income Tax Act provides some deductions for homebuyers. However, a prospective home loan applicant must take note of some terms to take advantage of this
MCLR Vs RLLR: Know Your Home Loan Better
Looking to borrow funds? Wondering which home loan to choose? When planning finances to buy a house, keep an eye on loan interest rates. If you have an estimate of the interest rates, you can accordingly evaluate if you will
Understand Home Loan Process in 8 Steps
Buying a house is a dream for many. However, with the rising costs of home ownership, it has been increasingly difficult for individuals to buy houses without taking a loan. A home loan, also known as a mortgage loan, allows
Why is a home loan cheaper than a gold loan?
Home loans and gold loans have different purposes and repayment terms. While both are secured loans with collateral, a home loan has a longer tenure. However, home loan interest rates are usually cheaper than a gold loan. Does that mean
How to Use the Balance Transfer EMI Calculator
Took out a loan but worried about paying hefty interest? Found a lower-interest loan scheme with better terms after already availing of a loan? Despite making efforts to choose the best loan product, sometimes, a better scheme lands in the
Can I Avail of Multiple Housing Loans?
Fancy owning two properties? Need to take two home loans? Don’t fret, for it is a common misconception that one cannot avail of two housing loans at the same time. If you have the ability to pay back your EMIs,