Home Loans & Its Types

Home loans come in various types to suit your needs. Popular options include Home Purchase Loans for buying properties, Home Construction Loans for building on owned land, and Home Improvement Loans for renovations. Consider Home Extension Loans for expanding your current property, NRI Home Loans for non-resident Indians, and Joint Home Loans for a shared responsibility. Take advantage of specialised schemes like Affordable Housing and Women's Home Loans. Explore options like Home Loan Balance Transfer and Top-Up Loans for better terms. Before deciding, compare rates and terms from different lenders.

Key Takeaways

Different types of home loans in India cater to various needs - from buying a property to renovations and expansions

Home loans come in forms like Purchase, Construction, Improvement, Extension, NRI, Balance Transfer, Joint, Affordable Housing, Women-specific, and Top-Up loans

Each loan type serves a specific purpose, offering unique features like long repayment tenures, staged disbursements, and tax benefits

Consider your needs and financial situation thoroughly before choosing a home loan type

Compare interest rates, processing fees, and terms from different lenders to make an informed decision

Specific loans like Affordable Housing and Women-specific schemes offer lower rates and relaxed eligibility criteria

Joint home loans combine incomes for higher eligibility and individual tax benefits for co-applicants

Top-Up loans can be used for additional funds on existing home loans, often at lower interest rates

What to Watch Next

New Episode

Do You Know About the Different Types of Mutual Funds

New Season

Mutual Funds 101

New Episode

Understanding Mutual Funds

New Episode

Two Wheeler Loan EMI Calculator Crunch the Numbers

New Episode

Key Regulatory Developments in India s Fintech Space

New Episode

How Can Estate Planning Help You

New Episode

Budgeting as a Parent

New Episode

First Time Homebuyer Discover the Secrets to Success

New Episode

Buying Your First Car What Should You Know

New Episode

Union Budget 2024 What Start ups and MSMEs Need to Know

New Episode

Account Aggregator How to Simplify Your Finances with it

New Episode

How Can Neobanks Transform Your Banking Experience

New Episode

Union Budget 2024 Employment Schemes and their Benefits

New Episode

Decoding the Impact of the Union Budget for You

New Episode

Summarising the Union Budget 2024 in 5 Minutes

All

Yes, a home improvement loan covers repairs, interior decoration, or any other home improvement needs.

If you’re a co-applicant in a joint home loan, you may qualify for individual tax benefits on both principal and interest payments.

A home purchase loan offers a long repayment tenure that could extend up to 40 years.

Yes, many banks offer special home loan schemes for affordable housing with lower interest rates and relaxed eligibility criteria.

If you’re an existing borrower, a home loan top-up allows you to add funds to your current loan, potentially benefiting from lower interest rates.

Bajaj Finserv Direct Limited ("Bajaj Markets") offers to its customers, various financial products and services through its digital platform as a registered Corporate Agent with IRDAI, registered Investment Adviser with SEBI, registered Third-Party App Provider (UPI payments), and as DSA or Digital lending platform of its Partners. Further, Bajaj Markets also offers a marketplace e-commerce platform to facilitate transactions between customers and sellers on-boarded on the platform. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522 Corporate Agency (Composite) Registration no.CA0551 (valid till 10-Apr-2027) Investment Adviser, SEBI registration: INA000016083 (Validity - Aug 11, 2021 - Perpetual)

Home Loans & Its Types

Key Takeaways

What to Watch Next

Bites