What Is a Home Loan?
A home loan is a financial product offered by banks and housing finance companies (HFCs) that enables individuals to purchase, construct, renovate, or expand residential property. The borrower repays the loan in monthly installments (EMIs) over a fixed tenure, typically ranging from 10 to 30 years.
Types of Home Loans Available
|
Loan Type |
Purpose |
|---|---|
|
Home Purchase Loan |
Buy a new or resale residential property |
|
Home Construction Loan |
Build a house on a plot you already own |
|
Home Improvement Loan |
Renovate or repair an existing home |
|
Home Extension Loan |
Add rooms or floors to an existing house |
|
Plot + Construction Loan |
Buy land and build a house on it (combined financing) |
|
Home Loan Balance Transfer |
Shift your existing loan to a new lender for better rates and service |
Product Details
- Loan Amount: Up to 80–90% of the property’s market value
- Interest Rates: Starting from 7.35% p.a. (floating or fixed)
- Tenure: Up to 30 years
- Processing Fees: Typically 0.25% to 1% of the loan amount
- Repayment Mode: Monthly EMIs via bank auto-debit or ECS
- Security: Mortgage of the property being financed
✅ Eligibility Criteria
|
Criteria |
Salaried |
Self-Employed |
|---|---|---|
|
Age |
18–65 years |
18–65 years |
|
Employment Experience |
Minimum 2 years |
Minimum 5 years |
|
Credit Score |
750+ preferred |
750+ preferred |
|
Income Proof |
Salary slips, ITR |
ITR, business financials |
|
Property Documents |
Title deed, sale agreement |
Title deed, sale agreement |
Benefits of Taking a Home Loan
- Tax Deductions: Up to ₹1.5 lakh on principal (Section 80C) and ₹2 lakh on interest (Section 24B)
- Capital Appreciation: Real estate often appreciates over time
- No Need to Liquidate Savings: Preserve your investments while owning a home
- Balance Transfer Option: Switch to better rates anytime
- Top-Up Loans: Additional funds for renovation or personal use
Why Choose LoanChahie.com ?
LoanChahie.com is designed to simplify your loan journey with personalized service and tech-enabled convenience. Here’s what sets it apart:
Product Highlights
- Personal Consultation: Tailored advice to match your financial profile
- Wide Lender Network: Access to multiple banks and NBFCs for competitive rates
- Fast Processing: Streamlined documentation and approval process
- Digital Support: Online tracking, updates, and customer service
Benefits
- Customized Loan Offers: Based on your credit score, income, and property type
- Time-Based Audio Greetings: A warm, personalized experience for every visitor
- Interactive Presentations: Understand loan products through engaging visuals
- Eco-Friendly Branding: Reflects values of growth and sustainability