Dealsofloan.com provides the lowest rate of the market. You can compare all the loan providers offer under a single roof. A home loan can be used to buy a new property like flats, bungalow, and row houses also. Banks generally provide 80% to 90% of the property value as a home loan. The remain balance has to be arranged as the initial down payment. You can also avail a personal loan for further down payment amount. Nowadays some builders provide fully furnished flats to enable higher loan amount. This also reduces the cost of furnishing the house on possession. Home loans are available from 5 lac to 25 Cr. Dealsofloan.com suggests you the lowest rate of interest.
After applying for a Home Loan there are lots of parts included in availing Home Loan starting with identifying your property to filling up the loan application form. Following are the important stages in Home Loan approvals:
Tax Benefits in Home Loan
The home loan borrower enjoys Tax Benefits on both Interest paid & the Principal re-paid. Under Section 24(d) of Income Tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 1,50,000.
Under Section 80(c) of Income Tax, Principal amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of Rs. 1, 00,000.
Home Loan Interest Rates 2019
|Bank/ NBFC Name||Interest Rates||EMI start From|
|IDFC Bank Ltd||8.50% – 9.00%||Rs. 868 for 20 Years
Rs. 769 for 30 Years
|ICICI Bank||8.35% – 9.00%||Rs. 858 for 20 Years
Rs. 758 for 30 Years
|HDFC Ltd||8.35% – 9.00%||Rs. 858 for 20 Years
Rs. 758 for 30 Years
|Reliance Home||8.60% – 9.00%||Rs. 874 for 20 Years
Rs. 776 for 30 Years
|India Bulls||8.35% – 9.00%||Rs. 858 for 20 Years
Rs. 758 for 30 Years
|DHFL||8.35% – 9.00%||Rs. 858 for 20 Years
Rs. 758 for 30 Years
|Yes Bank Ltd||9.35% – 10.50%||Rs. 922 for 20 Years|
|L&T Housing||8.50% – 9.00%||Rs. 868 for 20 Years
Rs. 769 for 30 Years
|DCB Bank Ltd||8.50% – 10.50%||Rs. 884 for 20 Years|
|Deutsche Bank||8.50% – 9.00%||Rs. 868 for 20 Years|
|Magma Housing||10.50% – 12.00%||Rs. 1066 for 20 Years|
|Aadhar Housing||10.00% – 13.00%||Rs. 1032 for 20 Years|
|Shriram Housing||11.50% – 13.00%||Rs. 1066 for 20 Years|
|PNB Housing||8.50% – 9.00%||Rs. 868 for 20 Years|
What is the key point while comparing home loans in Pune from different financial institutions?
A home loan applicant needs to check on the following important point when comparing home loans in Pune.
- Actual purpose of home loan i.e. purchases a new ready home or any re sale property.
- Eligible for maximum home loan amount
- EMI and interest rate flexibility
- Lower processing fees on home loan in Pune
- Special discount on Pre-payment and pre-closure fees
- Comparison & multiple option of the customer experience by previous customers
Can I avail a home loan for Home renovation or home extension in Pune?
Yes, You can avail .Apart from Home purchase you can avail home loan in Pune for Home Improvement Loan, Home Extension Loan, Home Conversion Loan, Home Construction Loan in Pune.
Will there be any other costs involve when I purchase a new home in Pune?
Yes, Government registration charges, transfer charges and stamp duty costs are some of the costs in addition to the cost of the home cost.
What are the processes costs involve usually while taking a home loan in Pune?
Following are the extra costs:
- Normally Bank/Lender processing charge/Loan booking fee: Bank or Finance Company charge some fee for processing there loan application is called processing fee, when the customer apply for a home loan. Generally It could between .5 % to 1 % of the loan amount.
- Pre-payment or Foreclosure Charges: For home loan product If any of loan amount is paid back to Bank or Finance Company before the end of the agreed loan tenure, a Pre payment penalty is charged by banks/lenders, which could be up to 2% to 4 % of the amount pre-paid . However, most lenders currently do not charge a pre-payment fee for floating rate loans.
- Additional Charges /fee or Costs: In Indian financial markets some Loan lenders may charge a documentation charge. This is also known as “Application fee”, in some Banks.
- Property Loan Registration charges – Home registration charges are to be paid at the local Sub-Registrar’s Office it can goes up to .5 % to 1.5 % , as Charges for transferring the rights of the property from the builder/seller, and registering it in the name of the buyer (the loan applicant).
Can I have a co-borrower for a home loan in Pune?
Yes, it is very good to have a co-borrower. This can easily enhance your loan amount, you are eligible for as the income of the co-applicant is also taken into consideration. There is no need to provide additional security like bonds, fixed deposits and LIC policies will also help in enhancing eligibility.
What is EMI? How it is decided?
EMI meaning; In the financial market EMI is simply the way of monthly repayments of loan. (EMI) is the fixed amount that is paid back to the Finance Company on a monthly installment. It made in with two parts; one is the principal amount portion and second is the interest portion on the principal amount equally divided across each month goes up to end of the last tenure month. The installments of loan are always paid up to the bank or lender on a fixed date each month until the total amount due is paid up during the tenure.
What is an amortization chart?
As a loan provider platform we have a dynamic EMI calculator with amortization schedule. Amortization is a calculative table giving the reduction of your loan amount by monthly installments. The amortization chart gives the breakup of every EMI towards repayment of interest and outstanding principal of your loan.
Can I eligible for income tax rebate on my home loan in Pune?
Yes, As per Income tax rule of India under Section 80C and Section 24 tax deductions are capped at 1 lakh for the principal repaid and 1.5 lakh for the interest repaid on hole loan .
Minimum & Maximum tenure options in home loan in Pune?
Customer can select a loan tenure on the basis of comfortable with, ranging between 1 yr to 25 years, provided the term does not extend beyond your reaching 65 years of age or retirement age, whichever is earlier.
What is the maximum repayment tenure for NRI’s Home Loan?
We are helping NRI’s to availing Home Loans in India .The Bankers are offered to NRIs normally do not exceed 7 years of Loan tenure. The repayment for the loan is by way of monthly fixed installments. The EMIs begin only after the entire loan is disbursed. In case of a part disbursement, you will pay only the interest amount on the disbursed loan amount every month instead of the EMI. This is called as pre-EMI.
Is there any tax benefits applicable to Non-Resident Indians?
Till now no benefit allowed to NRI’s as per Indian Income tax low, there are no tax benefits are available for NRI customers unless you file returns and hence become eligible to avail the tax rebates available for home loans.
Does Dealsofloan.com charge me for its services?
No, Dealsofloan.com’s services come to you totally free of cost.
How will the security and privacy of my information/data be ensured?
Dealsofloan will never share your information data with any third party other than the financial institution that you decide to apply to. Our fare technology practices ensure a highly secure environment.
How Dealsofloan.com works? Once I submit my application.
Once your application is electronically submitted on Dealsofloan.com; we will verify and send it securely to the financial institution as per your choice. This Bank/financial institution will then get in contact with you directly to take the process forward. Dealsofloan.com will also keep you updated on the status of your application via email and SMS alerts.
PAN Card Copy
Last 6 months bank A/C statement
Passport size photograph of the applicant & co-applicant
Age proof of co-applicant
Residence Address Proof
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