Owning a house is one of the key symbol of success among the growing Indian middle class. But, they have to pay hefty price for that symbol, which makes it near impossible to own a house for common man through his regular income.
This drives the common man to seek for a home loan.
These loans are availed to complete the purchase of a plot for construction or as an investment. Home purchase loan and plot loans are similar in terms of interest rates.
These loans can be availed for construction of the house. Applicable only if the individual has a plot and plan to start construction of a house on it.
These loans can be availed when you are planning to renovate or make repairs to your current home.
If you already own a house with an existing home loan and are planning to purchase a new house, you can opt for a home conversion loan.
If you need to add more space to your house for varied reasons, such as a growing family. Opt for this home loan.
Currently home loan interest rates start from 8.5% onwards.
Home Loan Balance Transfer or simply Balance Transfer is the process that allows you to benefit from the lower interest rate offered by the other lender.
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