Apply for Home Loan

Why Choose a Home Loan?

  • Being a secured loan, home loan interest rate is comparatively lower than an unsecured loan, such as a personal loan.
  • Being a secured loan, home loan interest rate is comparatively lower than an unsecured loan, such as a personal loan.
  • Here we have enumerated different features of a home loan to help you understand the home loans in a better way.
  • Home loan includes a number of associated charges, such as registration charge, processing fee, penalty on prepayment, commitment charge and miscellaneous charges (documentation/consultation).

Business Loan

Businesses need ample amount of investment to fund for start-up expenditures or pay for business extensions. For such purposes, companies take out business loans for their financial assistance. It is a debt which a company is obligated to pay back within a specific tenure according to the terms and conditions of the granted loan. Start-up Business loans can be taken for a variety of essential requirements like starting up a new firm, business expansions, dealer and vendor financing etc.

The major benefit of business loans in India is that it does not require any collateral or security and most of the banks sanction business loans with minimal pre-payment charges. Another benefit is that if there is a failure of repaying the loan, then the business owner will not solely face the burden of penalties but the whole company will be liquidated in order to clear the business loan.

With the general people becoming more and more open to home loans, loan providers are coming up with better and more attractive home loans. With a host of cheaper home loans on the offer, it is best to compare home loans first and then make a purchase. Home loan is a relatively broad category, as it not only includes a bank loan for purchasing a new or existing house. Loan providers are offering Home loans for different purposes according to the changing needs of the customer.

When granting a home loan, the lender uses your property (home) in order to secure the loan. Due to use of your house as collateral, home loans are secured loans that involve a low level of risk for the lender. If the borrower is unable to pay the loan for any reason, the lender can legally auction off your property to retrieve the outstanding loan amount. Being a secured loan, home loan interest rate is comparatively lower than an unsecured loan, such as a personal loan. The amount of the home loan can vary based on your income, credit history, the locality/city you are planning the purchase in and various other factors. You can apply for a home loan jointly with your spouse, family members or others as co-applicants.