Long Term vs. Short Term Loans - Which One is Better?

What are Long-Term and Short-Term Home Loans?

Long-Term Home Loans are issued for a longer duration by the bank, i.e., up to 30 years, whereas, Short-Term Home Loans are issued for shorter periods, i.e., 1-5 years.

What are the Benefits of Long-Term Home Loans?

– Longer Tenures and smaller EMIs – Higher chances to meet the Home     Loan Eligibility Criteria – Flexible repayments – Tax exemptions

What are the Benefits of Short-Term Home Loans?

– Quicker approval and disbursal – Lower Interest Rates – Shorter tenures – Minimal documentation

What is Better: Long-Term or Short-Term Home Loans?

Both Long-Term and Short-Term Home Loans have their advantages. Choose a  – Short-Term Home Loans for quick     disbursal & well-managed finances. – Long-Term Home Loans to borrow a     larger amount & need to manage     repayment. The choice, in the end, is yours to make!

Factors that Affect your Home Loan Eligibility

– Monthly Income (Should be a     min. of 15,000) – Age (21 years) – Rate of Interest (8.75% p.a) – CIBIL Score ( 611 or above) – Work Experience (3+ years)

Apply for a Home Loan Now!