Home Loans 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 |
Canara Bank Home Loan | Senior Citizens |
- Cent Home LoanCentral 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:Explore: Cent Home Loan
- Avail up to 90% of the property cost
- No guarantee required
- Attractive interest rates
- Canara Bank Housing LoanThe Canara Bank Housing Loan scheme has the following benefits:Explore: Canara Bank Housing Loan
- 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
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.
A good credit score can help you secure lower interest rates on loans and credit cards.
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