Home loan

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Home Loan

A home loan means a sum of money borrowed from a bank or financial institution to purchase a house or home loan consists of floating and fixed interest rate and payment term. People can take a home loan for buying a house or land of the plot for construction of a house people can also take a home loan for renovation, extinction and repairs to the existing house. The property which is purchase through home loan is mortgaged to the lender as a security till the repayment of the loan. The interest rate of home loans may be fixed or adjustable and sometimes it is partially fixed and partially adjustable. It depends upon the needs of the borrower. There are many types of home loan available in the market people can take loan according to their suitability.

⇨ Maximum Loan Amount - Upto ₹2 Crore.

⇨ Maximum Loan Repayment Term - 25 Years.

⇨ Rate of Interest - 6.5%*