A home loan is a secured loan that allows you to purchase a property. The property serves as collateral. These loans offer high-value funding, competitive rates, and longer tenures repaid via EMIs. Once repaid fully, the title is transferred back to you.
Build equity over time as the property value appreciates.
Section 24B permits deduction up to ₹2 lakh on interest (subject to law in force).
Typically lower than personal loans/credit cards; EMIs are more manageable.
Make partial prepayments without penalty (as per lender policy).
Move the outstanding balance to another lender for better terms.
Tenures up to ~30 years help reduce EMI burden.
Maintain access to funds for emergencies (per product terms).
Timely repayments can improve your score over time.
Inspections, title search, and documentation protect your interests.
This is the loan that one takes for purchasing a home.
This loan covers expenditure related to repairs or renovation.
Useful when you are building a new house.
Buy a plot of land to construct your own house.
Add a room, garage, bathroom, or kitchen.
Loans taken by two or more people (e.g., spouses).
Switch your outstanding loan to a different lender.
Borrow more above the outstanding loan amount.
