Home Loan
Buying a house is one of the biggest dreams for most people. The Government of India also encourages the citizen to invest in the home. Therefore, the home loan is also eligible for the Tax deduction used the Section 80C. Buying a Home loan also gives you more number of tax benefits that would also reduce the tax outgo. The home loan becomes much more affordable and accessible, providing more benefits for getting an instant solution. Normally, the property of the borrower is mortgaged with the bank or non-banking financial institution until the repayment option.
Key Features Of Products:
Home loans will be based on the market value and estimation given with the registration value of the property or by banks. Availing the house loans mainly suits the individual needs at the lowest rates with easy financing fulfilling the needs of the home. Home Loan offers you better benefits in saving your time for buying a home. The home loan agreement needs to be finalized after reading the entire terms and conditions carefully.
- Loan Amount - Availing the Home loan from Rs.2 lakh to Rs.200 lakh is possible based on eligibility, repayment capacity, and income.
- Loan Tenor - Maximum loan tenure will be up to 20 years.
- Security – The best-secured loan and collateral is required for applying for a home loan
- Purpose – The home loan is applicable for purchasing the house, resale, and construction of house or extension of the house
Benefits To Customers:
Tax Benefits: –
Home loans are the best way to save more money on the tax deduction. The government of India offers the Tax deduction on interest paid and principal on the home loan. This encourages people to buy home loans. Every individual is eligible to claim even up to Rs 1.5 lakh deduction under Section 80C of Income Tax of India 1971 Act.
Tax Benefits On The Second House:-
Under Section 24B of Income Tax Act, When you have a second house, you would be eligible for claiming the deduction on the entire amount of housing loan with interest paid
No Prepayment Charges: –
No prepayment penalties on floating rate home loans are applicable. Utilize it for making a part payment towards your home loan
Easy To Buy Dream Home:-
Home loan offers the rapid and easy to pay monthly installments
Why Finkart?
“Finakart” is the top technology-enabled financial service provider that offers customized solutions for all financial requirements. Finakart offers the customer-centric approach and research-based solutions with the best loan option at the lowest interest rate.