The market is flooded with easily available Home loans. People love to invest in property, gold, and other assets during festival season.
One common trend is seen since ages that builders and developers offer lucrative offers with some extra benefits on your home purchase during the festive season.
The festive fever is viral in the markets every sector is affected in its own way during festivals in India, realty sector is no different. Buying property during festivals is counted auspicious in our society.
Its buyer’s market during the festive season and one must buy when its buyer’s market for maximum encashment.
During the festive season builders offers gives a chance to all to plan and go for buying your own dream house.
Govt. and developers collectively put many efforts to make ‘buying a dream house with home loan’ thing easy for a common serviceman.
Some latest updates on home loans are as follows:
- You can easily avail lowest home loan interest rate @8.35% from various banks.
- Customized home loan options are available for both salaried and self-employed individuals.
- Online applications for a home loan can get you the benefit of Rs. 5000 [upto] cashback from some banks.
- Loan tenure up to 30years, a few years back it was 20 years.
- If your salary income is in range of 6-12 lakhs you can get a subsidy of 3% similarly you can get 4% subsidy if you annual incomes fall in the slab of 12-18 lakhs.
- A few years back the interest on home loans was 10 % whereas has it has now reduced to 8.35% up to 30 lakhs of a loan amount.
With continuously jump in real estate sector it is impossible for a service class man to think about buying his own home without ‘home loan’ getting home loan ensure your ticket to step into your dream house
During festive season banks also announces limited bonanza offers on home loans that sound music to ears and this is the best time to apply for home loans.
It is advisable to take advantage of these offers if you are/were planning to go for ‘home loans ‘ because if you wait to apply after the festival season you may end up with paying more interest rate and less EMI options.
Special Home loan offers during the festive season may include less interest rate, EMI option, long tenure, some waiver off on EMI’s or processing fee, Less or NO processing fees, which make these more lucrative.
Banks sometimes offer gold coins, free holiday, free banking services etc.
Pardhan Mantri Awas Yojna 2017
India has witnessed many big changes in past 9-10 months including demonetization, implementation of RERA [Real Estate Regulation & Development Act] and implementation of GST [Goods & Services Tax].
With all these rock big changes where economy felt disturbed for a while the initiative of Govt. in many sectors and starting many high-level programs i.e Smart cities, Make In India etc. have made Indian economy very improving and promising at international level.
Pardhan Mantri Awas Yojna 2017 is also one of those initiatives which make a house more affordable for those buying it for the first time. Centre govt. has announced quite low rates on home loans under this scheme.
The amount of home loan is 12 lakhs with interest rate of just 4% for the maximum tenure of 20 years, Our Prime Minister Mr. Narender Modi had announced this in a public speech on 31st Dec. 2016
Have you decided to opt. for applying for any home loan, it’s better to collect entire information before choosing the bank for you.
Hope this article has contributed to your knowledge, share your views or any experience (if you ever have had) with other readers.