A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan for Long Term Requirements

    Home loan for Long term requirements comes with several benefits like higher loan amount, attractive interest rates, longer tenure, etc. It makes the dream of owning a house affordable and one with less hassle.

    Features and Benefits of home loan for long term requirements

    Bank employees can avail home loans with attractive features and benefits as given below:

    • Benefit on Interest rate: Interest rate is low and differs from bank to bank.
    • Benefit on loan amount: Home loans can range from Rs.30 lakh up to Rs.10 crore
    • Benefit on loan tenure: They have longer loan tenures of up to 25 years.
    • Benefit on Foreclosure: There are no foreclosure charges or prepayment charges if you choose to foreclose or make a part-prepayment on the outstanding amount.

    Best Home Loans for Long term Requirements

    Home Loans for Long Term Requirements Best for
    Cent Home Loan No Guarantee Required
    Bajaj Housing Finance No Foreclosure Charges
    Canara Bank Home Loan Senior Citizens
    1. Cent Home Loan

      Central Bank of India offers home loan for the purpose of construction of a house or flat. Some of the highlights of the scheme are as follows:

      • Avail up to 90% of the property cost
      • No guarantee required
      • Attractive interest rates

      Explore: Cent Home Loan

    2. Bajaj Finserv Housing Loan

      The Bajaj Finserv Bank Housing Loan scheme offers them attractive interest rates with easier eligibility criteria and a higher loan amount. The highlights of the scheme are as follows:

      • Avail loan amounts ranging from Rs.30 lakh up to Rs.10 crore
      • Repayment tenure of up to 25 years
      • No foreclosure or prepayment charges
      • Transfer existing home loan for lower interest rates
      • Avail top-up loan of up to Rs.50 lakh

      Explore: Home Loan Eligibility Calculator

    3. Canara Bank Housing Loan

      The Canara Bank Housing Loan scheme has the following benefits:

      • Housing loan of up to Rs.50 lakh
      • Repayment tenure of up to 30 years
      • Lower interest rates
      • Can continue loan up to the age of 75
      • If both spouses are employees, both can avail the scheme

      Explore: Canara Bank Housing Loan

    Verdict

    Home loans for long term requirements comes with low interest rates and easier eligibility criteria to fulfil. They may also have faster processing times and easier documentation.


      

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