You can avail of home loans from numerous financial institutions, among which some of them can bring you lots of benefits while others might get you into severe debt from which you might have a hard time recovering. But, among the better loans, the Indiabulls home loan is one of the most beneficial home loans to opt for. Below are all the critical aspects because of which you should choose this home loan and avail numerous benefits.
What is Indiabulls?
As India’s second-largest house finance organization, Indiabulls Housing Finance has offered home loans since 2005. It is based out of Mumbai and has provided loan services to Indian consumers for years. It is everyone’s most treasured goal to possess a home of one’s own. We do all our best to make this goal a reality, and Indiabulls Housing Finance is here to help us along the way. Indiabulls’ dream has always been to make home loans accessible, fast, and free of fuss. They are pioneers in delivering a smooth online and offline home loan procurement experience.
Features provided by the Indiabulls Home Loan:
- Customized home loan products from Indiabulls have been made available to many clients
- Using the IB (Indiabulls) HomeFinder, users may choose from more than 4 million houses
- The interest rates on the house loans are low enough to make home loan financing more accessible to the average person
- Everything about getting a house loan has been made simpler and more accessible, both online and off
- Adjustable loan tenures of up to 30 years are available for home loans, making them accessible to the average Indian consumer
- For the borrower’s benefit, Indiabulls Finance has made it clear that there would be no prepayment penalties
- Home loan applicants may apply together or on their own. There will be a co-applicant requirement for all prospective property owners. It is not necessary, however, that co-applicants be co-owners
Benefits of choosing Indiabulls Home Loan
- Amounts paid in Interest on a mortgage are eligible for tax benefits
A home loan tax benefit is one of the most significant benefits of the Home loans from Indiabulls. Section 24(b) of the Income Tax Act allows you to deduct up to Rs. 2 Lakh in interest paid on your house loan under certain conditions. If the house loan is used to acquire a new property, the funds might be used for any purpose related to that transaction.
If you did not pay the interest in that financial year, but you paid the interest amount in excess in the previous year, you may claim the tax deductions on an annual basis. The income tax advantages of Rs. 2 Lakh are allowed for houses that have been finished within five years of purchase. The tax advantage is decreased to Rs. 30,000 each financial year if the deadline for completion is not fulfilled.
- Home ownership Tax Credits for First-Time Homebuyers
An extra tax advantage of Rs. 50,000 is available to first-time homebuyers via an Indiabulls home loan and above the tax exemptions provided by Section 80 C of the Income Tax Act till the loan is repaid. When you buy your first home, Section 80EE might help you save money on taxes.
However, a few conditions must be met to make use of this exemption. There should be no more than Rs. 50 Lakh in equity in the property, and Rs. 35 Lakh or less is the maximum amount financed via a house loan. You must not own any other property at your home loan approval. A bank, financial institution, or home financing firm should approve the loan.
These are the most prominent benefits you can avail of when taking a home loan from Indiabulls. Home loan tax benefits and additional help from the financial institution to ensure a smooth transaction is something everyone wants, and you should also take advantage of that. For more details, kindly visit Apnapaisa and get in touch with our team of experts.