How to Reduce Your Home Loan Interest Burden (4 Simple Tips)

Everyone knows that paying off a home loan can be one of the most taxing commitments in our lives. That is because customers tend to opt for 15-20 years to pay off the entire loan. Imagine putting aside a certain percentage of your income every month without fail for such a lengthy tenure! As such, if you fail to plan, a high home loan EMI can negatively impact your financial...

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What is Home Loan? Everything You Need to Know About Housing Loan

We all dream of buying the best home possible. But, with property prices sky high and soaring, turning the dream into a reality could be a step too far. Here, the good old home loan comes to the rescue. Taking a home loan can be a huge step. From the sheer amount of financial planning to the lengthy process of getting approved for one, a home loan can often sound...

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An Essential Guide to Home Loan Balance Transfer

Are you wondering how much you’d have saved in terms of interest and principal amount if your existing home loan was at a much lower lending rate today? Well, you’re not alone. With home loan interest rates in India circling above 7% per annum since 2020, many like you are worried if they are paying too much. Given how hefty the outgo is on a typical home loan, even a...

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A Step-By-Step Guide on Home Loan Disbursal Process

Buying a home is one of the most crucial and landmark decisions you make in your lifetime. Everything about your home loan, right from the research, application, documents, and the lender you choose to go with, has to be perfect. Ample research and knowledge about the entire home loan process is the best way to avoid any surprises later. Bookmark this post right away if you are still in the...

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Tips to Apply Home Loan After 45

There is more to buying your dream house than taking a home loan and repaying the principal and interest over a fixed period of time. A home loan — often one of the most important decisions in an individual’s life — can be stressful and exhausting if the applicant fails to do proper research and read the fine print before signing on the dotted line. With a range of options...

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Things you should keep in mind while closing your home loan

Once the final dues of your home loan are paid, you become a proud owner of a home. It is an exciting and emotional moment and a time for celebration. But, before you head on to celebrating, certain tasks in the home loan closure process need to be taken care off. Without these tasks the home loan closing process will be incomplete, which will lead to complications in the future....

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Making Home Loans Easier for Self Employed

Until recently, entrepreneurs and self-employed found it easier to set up their businesses than obtain home loans. Their success and sustainable vision did not necessarily guarantee housing loans because financial institutions often viewed them with skepticism and questioned their financial stability. Though the self-employed account for a large share of the housing demand in India, their access to institutional credit has been considerably lower than the actual house purchases. Consequently,...

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Should The Interest Rate Be The Only Criterion While Choosing A Home Loan?

There’s no shortage of home loan providers these days. Banks, housing finance companies and NBFCs are constantly trying to pitch their home loans services, often confusing customers for choice. Given the many options available, it can be tempting to choose between home loan providers based on a single metric — the interest rate that’s being charged. Choosing based on the interest rate has its advantages: it’s comparable across providers, which...

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How to Improve your Home Loan Eligibility ?

It is one thing to dream of owning a home and quite another to actually buy one, since there are liabilities attached to it, especially if you are taking a home loan. It means committing a part of your monthly salary to repay the loan over several years. Once you decide that you can afford a loan, you have to look at other aspects, such as the loan amount you...

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Introduction to PMAY – Pradhan Mantri Awas Yojana – Credit linked subsidy scheme

Pradhan Mantri Awas Yojana – The interest subsidy scheme CLSS (Credit Linked Subsidy Scheme) introduced by MHUPA (Ministry of Housing & Urban Poverty Alleviation) was announced by our honourable Prime Minister Sh. Narendra Modi with a vision of housing for all in 2022. Under PMAY scheme, Customer (i.e. the beneficiary) is eligible to avail interest subsidy on the purchase/construction/enhancement of a house. PNB Housing Finance offers “Credit Linked Subsidy scheme...

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