A house is the most precious possession for an average Indian, but to acquire a house one needs a sufficient amount of funds. Home loan, being secured by nature comes to your rescue when planning to buy a new roof for your beloveds. Easy to avail with low-interest rates make a Home loan an ideal choice for buyers wanting to spend minimal at the onset.
Why take a home loan?
- PMAY: The Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY) allows owning a house at minimum interest rates and longer repayment tenure.
- Low-Interest Rate: Home Loans offer your about 70-80% of your property value as a loan at a very reasonable rate. Availing home loans can benefit you especially during a sudden decrease in interest rates.
- Tax Benefit: Tax benefits on Home Loans are worth dying for! You can claim up to Rs.1.5 lakh on principal repayments u/s 80C, up to Rs.2 lakh on interest repayments u/s 24B, up to Rs.2 lakh on interest repayment in special circumstances u/s 80EE and 80EEA, and up to Rs.1.5 lakh on stamp duty expenses u/s 80C.
- Longer Tenure: Unlike any other loans, home loans come with longer repayment tenure, as much as 25-30 years. Spreading the loan amount and interest applicable over a longer tenure will reduce the monthly EMIs reducing your burden.
Ruloans allows you to compare home loan deals from more than 20+ Banks and NBFCs. You can compare interest rates, terms and conditions and other factors to select an option that fits right to your needs. Our financial experts with immense knowledge and collective experience of more than 100 years guide you to make the right choice.
You can apply by visiting our website and unlock the best home loan deals available in the market today.