As a loan service agency in Chennai, we help people who want to get a home loan in Chennai. We assist them in obtaining the best interest rate home loans with the lowest EMI per lakh. There are several home loans options available with interest rates ranging from 5 lakhs to 1 crore. In addition, as per Section 80EE of the Income Tax Act, you may be eligible to claim some tax advantages on your house loan. However, only first-time home buyers are eligible for the mortgage interest tax deduction.

We can be trusted for our transparent propositions and work ethics. Our bank provides you with the integrity and excellence needed to fulfil customer needs.

Several different loan schemes are available from us at the same time. Interest calculations are based on the daily decreasing amount of our account. We provide an overdraft with reasonable interest rates and operating fees. Additionally, there are no hidden fees or penalties for making a partial payment in advance.

As of March 2021, the average home loan interest rate in India varies from 6.5% to 12%. The rates fluctuate depending on the lender, the RBI-mandated repo rate, inflation, economic activity, and a variety of other factors.

Some banks additionally offer a 0.05 percent discount on house loan interest rates to women, bank employees, and older persons.

A house loan’s interest rate might be either fixed or variable, depending on the loan’s terms. The interest rate on a fixed-rate house loan remains the same during the duration of the loan, which is defined by the bank. This sort of house loan is not affected by changes in the market.

Home loans with variable interest rates are those where the interest rate is determined by market movements rather than a fixed rate.

Home loans, unlike other types of loans, have a lengthier repayment period of up to 25-30 years. This is due to the large loan amount required to purchase a home.

The monthly EMIs will be lower if the loan amount and interest rate are spread out over a longer period, easing the strain on the borrower.

The lender takes the house as security until the loan is paid back in full. So long as the loan is not repaid in full, the bank or private financial organization retains ownership of the property. Interest rates on house loans can be fixed or adjustable, or a combination of fixed and variable rates, or a combination of variable and fixed prices, depending on the borrower’s demands.

A floating-rate home loan means that you can pay back the loan as soon as you have a sum of money. You don’t have to pay a penalty for doing this. With this option, you may pay off your house loan faster.

Getting a home loan has become easier thanks to the many ways that technology has made it possible to do so and the best loan consultant. According to your needs, our loan financial consultant will suggest you get the best loan scheme in the market.

When you submit your application, the bank will request the necessary documentation from you. Your CIBIL score, the asset’s value, your monthly income, how much you can repay, the loan amount you can borrow, and how much you can borrow are all considered. The bank gathers the relevant paperwork from you when you apply. The banks make the decision on whether to accept the loan after analyzing and confirming all the papers.