With a strong network of over 10 leading banks, we have the ability to go the extra mile to ensure you get the best possible deal.
Whether you're a first-time buyer, looking to upgrade, or seeking to invest in real estate, or would like to just do a balance transfer, we are here to guide you through every step of the process.
Traditional Home Loans:
Traditional home loans in India are designed to help individuals buy a residential property. Here's how they work
- Loan Amount: Banks and financial institutions provide a portion of the property's value as a loan, known as the loan amount.
- Interest & EMI: Borrowers pay interest on the loan amount, usually in the form of equated monthly instalments (EMIs)
- Tenure: Home loans have fixed tenures during which borrowers need to repay the loan along with the interest.
Home Saver Loans:
Home Saver Loans are a variation of traditional home loans that offer added benefits. They are designed to optimize savings while simultaneously paying off the home loan. Here's how they differ;
- Savings Component: Home Saver Loans allow borrowers to deposit their surplus funds into a linked savings account.
- Interest Offset: The surplus funds in the savings account reduce the outstanding loan amount, effectively lowering the interest paid on the home loan.
- Interest Calculation: Home Saver Loans calculate interest on the outstanding loan amount minus the surplus funds in the savings account.
- Flexibility: Borrowers can withdraw the surplus funds from the savings account whenever needed, providing liquidity.
- Interest Savings: Home Saver Loans can lead to significant interest savings over the loan tenure.
Both traditional home loans and Home Saver Loans have revolutionized homeownership in India.
Traditional home loans provide a structured way to finance property purchases, while Home Saver Loans offer a unique opportunity to optimize savings and reduce the overall cost of borrowing. For aspiring homeowners, these financial tools have paved the way to turning their homeownership dreams into reality while effectively managing their finances.
