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Home Loans |
Home is a place where you return after a grueling day's work and chill out , its is a a place where you share precious moments with your friends and family. Home is a place that gives you a sense of belonging. Home Loans are the best option for you if you want to finance a new home within a modest budget. The different banks of India offer you customized and practical home loan plans to suit your needs. With so many attractive features in every type of home loan on offer, creating the home you always wanted is really a cake walk now a days.
Several Banks in India like ICICI, IDBI, HDFC and nationalized banks like Allahabad Bank,State Bank of India,Punjab National Bank all provide home loans in India. These banks help to you realize your long cherished dream of owning your home through hassle free and customer friendly home loans. You can acquire the Home Loans for constructing a home, purchasing a ready built house or flat. Home loans can also be taken to procure a residential plot and even for re-financing existing loans you may have availed from other banks or housing finance companies.
There are certain other documents that you need need to produce to attain eligibility for home loans. These documents include latest salary slip and form 16 for salaried persons and last 3 years profit and loss balance sheet and last 6 months bank statement for self employed persons. And all of them need to give a residence proof too.
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If you are a resident of India you are eligible for certain tax benefits on principal and interest components of a loan under the Income Tax Act of 1961. If you have an interest repayment of Rs. 1,50,000 p.a. you can make a a tax saving upto about Rs. 50,490 p.a. Apart from this you can get added tax benefits from home loans under Sec 80 C on repayment of principal amount upto Rs. 1,00,000 p.a. that can further acquire tax benefit of about Rs. 33,660 p.a. You can choose from a array of home loan rates like Adjustable Home Loan Interest Rate Home Loan or Fixed Home Loan Interest Rate. But if you want the best of the both world you can even opt for the Part Fixed and Part Floating Interest Rate for Home Loans etc.
For further information on Home Loans please visit the following links:
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