APPLYING FOR A NEW LOAN? KNOW THE HOUSING LOAN INTEREST RATE BEFORE YOU SIGN THE DOTTED LINE

APPLYING FOR A NEW LOAN? KNOW THE HOUSING LOAN INTEREST RATE BEFORE YOU SIGN THE DOTTED LINE

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You may be a freshly graduated youth coming to the city for the first time or maybe a high- level executive in an MNC. You may be a single woman living alone in the city or maybe someone heading a family of five. You may have a fixed monthly income or maybe not. Whatever the case, wherever you come from, there is one single thing that unites all of us: the dream to own a house of our own. With home loans becoming easier to procure courtesy of online applications, faster verification and lower interest rates, more and more people are investing in a house. However, it is wise to consider the kind of home loan options available to you and their respective interest rates before you make a final decision. Listed here are four different loans that you can avail of and their interest rates:

  • New Home Loan- 8.5%* onwards

Whether you have your heart settled on an apartment in the high-rise next to your office or that vacant plot next to the highway, if you are a salaried or self-employed individual with a proof of income, you can get a loan without much hassle. The housing loan interest rate may be fixed or floating depending on your terms and agreement with the financial institute. With a loan tenure of 20 and 30 years for self-employed and salaried individuals, respectively, these loans are affordable to millions across the country.

  • Swaraj Home Loan- 9.50%* onwards

Right from our college admission to the time when we first buy our own SIM card, having the perfect documentation has been a hassle. However, with the Swaraj Home Loan, all you require is a PAN card along with your Aadhaar card if you are an Indian national looking to buy a house you can call your own. You needn’t have all your bank statements and income proofs that attest to how much you earn monthly or yearly. Quite easy, isn’t it?

  • Home Improvement Loan- 8.5%* onwards

Want to enhance the charm of the house by adding a balcony, but not have the required funds? With a Home Improvement or Home Extension home loan, you can modify your house to look the way you want. You can add a room; fix the leaking roof, etc. with this loan. The affordable EMIs allow you to enjoy that hot cup of tea while sitting in your new balcony without feeling stressed!

  • NRI Home Loan- 8.5%* onwards

If you’re an NRI thinking of retiring and coming back to your Motherland or simply looking for a stable investment, there is a home loan available for you. The technical and legal assistance provided by the financial institute will ensure that even though you are miles away, you can buy the house you want!

The policy of transparency adopted by the financial institute will also inculcate a sense of confidence in you so that you can go ahead and make the housing investment that you so desire.

*Disclaimer
All content provided on this blog is for informational purposes only. The opinions provided herein are solely of the author and do not, in any which way, reflect the view(s) of any company. The information provided herein is basis the current market pattern and subject to change from time to time.

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