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All of us dream of living in our own house. We help you make this dream a reality by arranging for home loans at the lowest interest rates in the industry. Here are the top reasons you can opt for a home loan:
Income Tax Benefits
Flexible Use
Low Interest Rates
The benefit from locking in the present interest rate of around 7.00% p.a. compared against a future scenario when you might avail a loan at, say, 9.00% p.a., is shown in the table below:
| Rate of Interest | 7.00% p.a | 9.00% p.a |
|---|---|---|
| Loan Amount | Rs 1.00 crore | Rs 1.00 crore |
| Loan Tenor | 20 years | 20 years |
| Monthly EMI (Principal + Interest) | Rs 77,530 | Rs 89,973 |
| Total Cash Outflow during 20-year tenor | Rs 1.86 crore | Rs 2.16 crore |
| Total Interest payable during 20-year teno | Rs 0.86 crore | Rs 1.16 crore |
On a 20-year home loan, 2%-point lower interest rate will result in:
- 14% lower EMI payment
- 26% lower interest outgo
- Total savings of ₹ 29,86,459 on a loan of ₹ 1 crore
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