HOME LOANS

A home loan is a secured loan that requires the borrower to keep collateral with the lender. However, the collateral in case of the home loan is the home itself for which the loan is borrowed. In case a person fails to replay the home loan on time, the lender has the right to acquire the property.

You can clear your home loan fast by paying the repayment amount either partially or fully, through home loan prepayment or foreclosure. Paying off the amount will not help you get rid of your home loan fast, but would also lower the home loan burden, as the principal amount is reduced. How ever, before going for the prepayment and foreclosure, it is better to know the foreclosure or prepayment charges that the lender charges in advance.

A guarantor should be an individual above the age of 18 years with a good financial history and a stable source of income. Apart, he or she should be sure about the credibility of the loan applicant.

You can get a home loan easily nowadays, through the online loan portal of the bank. The online home loan application process is easy, quick, reliable and convenient.

For a new home loan buyer they should check the eligibility, compare interest rates, tenure, loan amount. Here is a guide to home loan eligibility. Also, you can apply for a home loan with us or you can visit the nearest bank branch with whom you want to avail loan.