Home loan- an answer to your financial need Owning a home is like dream come true for any human being. Apart from a secure shelter, it provides you a sense of fulfillment and pride to your family. It gives opportunity to lead a decent life and enjoy stability. Thus home ownership is synonymous with peace and happiness in your life. The easiest way to become an owner of your own house is to take a Home loan; home loan is an amount granted in order to transact in buying a new house/ flat or construct a new house on a piece of land or extend an existing house or renovate an old house to make to it habitable. The amount varies depending on the borrower’s choice, ability to repay, and property value with a long term repayment period ranging up to 15-20 years. This amount is secured against a mortgage of the property for which loan is being taken. Buying /constructing a new house requires a large amount of money which is very difficult to pay from savings outright. Furthermore, the accumulation of the money takes years before one can pursue the transaction. That’s why home loan is the most convenient and prudent way of financing and economical in terms of time. When one acquires home loan the money can be returned through monthly installments known as EMIs.
EMI includes the principal amount and as well as interest amount (at the rate of interest agreed upon) which is paid in monthly installments over the tenor of the loan. Since this is a fixed amount the
borrower is not in a dubious position and knows what exactly to pay and can plan his budget accordingly. Moreover there is tax benefit as well –both principal and interest payment is exempt from taxable income subject to an upper limit every year. When we talk about home loan from the context of customers it only reinforces its importance furthermore. Getting a quick and easy home loan through simple processes is always a wise and worthy choice. In this way your dreams and aspiration gets fulfilled in the most convenient way.
When there is a longing desire to be your own master, when you seek emancipation from whims and fancies of landlords, when you want to renovate or extend your house but lack the means to pursue it, home loan is the answer. For more information call us at our toll free number 1800-532-4444 or visit our website
http://indiashelter.in