Home loan Bank
if someone dreams of his own house or to shift to a new city like Delhi. Home loan bank helps them to avail housing loans on competitive interest rates.
Home loans are provided by various lenders. In Delhi they offer home loans @7.15% p.a. onwards for loan amounts of up to 90% of property value and tenures of up to 30 years. For the purpose of construction of house, repairs, renovation, purchase of flat/villa/house plots.
Several banks and housing finance companies offers balance transfer facility to borrowers to switch their existing Home Loan Bank to another lender to enjoy better interest rates and additional top-up facility.
Home Loan Features
Lenders in Delhi usually offer home loans @ 7.15% p. a. for the tenure of 30 years on loan to value ratio 90% of the cost of property. They provide other facilities too which includes top-ups, overdraft and home loan balance transfer to existing home loan borrowers. There are no pre-payment charges.
The basic features of home loans offered by banks to the home buyers to access benefits are the following:
Online process: Applying online ensures that you can avoid hassle-free process and make easy to access.
Pradhan Mantri Awas Yojana (PMAY): The government of India launched a subsidy scheme to make home affordable to urban poor. This scheme is for economically weaker sections, middle income groups and low-income groups with interest subsidy of up to Rs 2.76 lakh