A Home Loan Guide for Novices
Loan against property from HDFC Ltd offers a higher loan amount at an attractive interest rate. Avail loan against a residential or commercial property now
Loan against property from HDFC Ltd offers a higher loan amount at an attractive interest rate. Avail loan against a residential or commercial property now
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1. Purchase loans and construction loans can attract tax benefits. The interest as well as<br />
principal components get these benefits.<br />
2. Repair of property is also eligible <strong>for</strong> interest deduction.<br />
3. Any home or construction loan taken on or after April 1st, 1999 is eligible <strong>for</strong> deduction of up<br />
to Rs.1.5 lakhs. Be<strong>for</strong>e that date, Rs. 30,000 is deducted.<br />
4. The deductible can take place only once the house has been constructed or bought. It can<br />
take place as five installments. It takes place over five years. The first one is deductible in the<br />
first year the construction is finished.<br />
<strong>Home</strong> loans - The situation in India<br />
There are more than a few banks offering home loans in this country. Depending on the EMIs<br />
you can make your choice. There is quite a competition between lenders. You can apply online<br />
as well as offline <strong>for</strong> the home loan.<br />
[Source: http://ezinearticles.com/?A-<strong>Home</strong>-<strong>Loan</strong>-<strong>Guide</strong>-<strong>for</strong>-<strong>Novices</strong>&id=6829991]
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