6 Types of Home Loans You Can Avail in India

Benefits of Choosing The Right Loan Type

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Different Needs, Different Home Loans

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This is the most common home loan to fund the purchase of a new home. It can either be a ready-to-move-in or under-construction or second-hand property.

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The Home Construction Loan is for those who don’t want to buy a pre-built home but rather build their own home from scratch.

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This Home Loan is exclusively for those who wish to renovate or repair their house. The funds can be used for interior or exterior touch-ups, like floor and wall tiling, woodwork etc.

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Home Extension Loans provide funds for building an additional room or balcony.

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This loan facilitates the borrowers to purchase a plot as an investment or for any property construction.

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This loan empowers NRIs and Persons of Indian Origin (PIOs) to finance a new home or repair an old one.

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To Know More About the Eligibility of Each Loan, Read Our Complete Blog Here

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6 Types of Home Loans You Can Avail in India

Benefits of Choosing The Right Loan Type

Opting for the right loan is important for quick approval, customised eligibility and more benefits.

Different Needs, Different Home Loans

Learn about 6 types of Home Loans offered by financial institutions in India

This is the most common home loan to fund the purchase of a new home. It can either be a ready-to-move-in or under-construction or second-hand property.

1. Home Purchase Loan

The Home Construction Loan is for those who don’t want to buy a pre-built home but rather build their own home from scratch.

2. Home Construction Loans

This Home Loan is exclusively for those who wish to renovate or repair their house. The funds can be used for interior or exterior touch-ups, like floor and wall tiling, woodwork etc.

3. Home Improvement Loans

Home Extension Loans provide funds for building an additional room or balcony.

4. Home Extension Loans

This loan facilitates the borrowers to purchase a plot as an investment or for any property construction.

5. Plot Loans

This loan empowers NRIs and Persons of Indian Origin (PIOs) to finance a new home or repair an old one.

6. Home Loans for NRIs

To Know More About the Eligibility of Each Loan, Read Our Complete Blog Here