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Oct 11
Antworks Home loan offer

Decreased Repo Rate – The Best Time to Avail Home Loan

We all dream of having our own home, but in India, it is very hard to have our own house as its population is increasing day by day and the rate of properties is going higher and higher every day. When we start our carrier we first think of owning our own home and start collecting funds at our starting carrier.

Home Loan Benefits at a Glance

Nowadays It has become easy to fulfil the dream of owning a home because of home loan plans. There are several banks that give the services of home loans at very low interests. Thus, home loans are offered by both the banks and NBFCs. But to avail home loans from a bank is much safer than to take the loan from NBFCs. The fifth cut in the repo rate during festival season is wonderful news for the buyers of home.

A new customer booking a house and availing home loan from a bank will have to pay lower rate of interest and low EMI in comparison to the existing home loan customers in the market.

Customers having a plan to buy a house should take the advantage of decreased repo rate and apply home loan online 24×7.

Benefits of Home Loan

• Tax benefits – The Indian government is encouraging more people to buy their own house. They are providing a deduction on the principal as well as interest paid on a home loan. An individual is eligible to claim a deduction of up to Rs. 1.5 lakh under Section 80C of Income Tax of India 1971 Act in a financial year.

• Tax benefits on the second house – In case of the second house, you are eligible to claim a deduction for the entire amount of housing loan interest paid under Section 24B of Income Tax Act.

• No repayment charges – Unlike other loans where lenders charge prepayment penalties on payment made towards a home loan, there are no prepayment penalties on floating rate home loans. So, whenever you have surplus money, you can make use of it for making part payment towards your home loan and lower your load.

• Balance transfer facility- In case of home loan, you have the convenience to shift your home loan to the different creditors if he is providing you a loan at a lower interest rate.

• It makes it easy to buy a dream home –Home loan makes your dream of buying a home true as it can be repaid in easy monthly installments. The benefit that offers on home loan facilitate makes buying home easier.

• High repayment tenure – Among all types of loan, a home loan has the longest repayment tenure which goes up to 30 years. So one can reduce a load of balanced monthly installments by extending the tenure.

• Saves you from paying rent – The monthly rent on house is high in metro cities. It acts as a pressure on your monthly budget. It is better to pay the EMIs of your own house than to waste money paid as rent.


A home loan is a loan that is extended by a bank or NBFCs to buy a house. The possession of your property is mortgaged with the bank or non-banking financial institution till the repayment of the loan.

The lender will hold the title deed of the house until the housing loan amount is repaid in full along with the due interest in time. The home loan can not only be taken for purchasing a property but also for the construction or renovation of your owned house.

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