Home Loan Guide

Availing a Home Loan is a most important part of a Home buying process. So some basic knowledge of home loan is important before deciding to avail a particular home loan product.

In general, all our projects are approved by HDFC Ltd. However availing a home loan is a totally left to the choice of buyer’s and buyer can avail loan from any Financial Institution.

As an information, We would like to give some tips on the Home Loan product and the buyer can remember on the above before deciding.

The Quantum of Loan Amount : Maximum Will be 75 – 85 % of the project cost ( or ) the buyer’s eligibility based on his income level, whichever is low.
Tenure (or) Period of Repayment : The options are starting from 5 – 20 Years, however the buyer can decide flexible period of repayment, not exceeding 20 Years.
Fixed or Floating : The Buyer can decide the type of interest rate and even it can be mixed also.
Mode of Repayment : The buyer can decide the mode of repayment, the options are salary deduction, PD Cheque repayment, Bank standing instruction etc.
Various fees Charged by the bank : The buyer is required to know the different fees charged before going to avail loan from any Financial Institution.
Tax Benefits : The buyer is required to know the income tax benefit before deciding the quantum of loan amount and tenure of repayment.