Home Loan

A home loan is a secured loan where the property being purchased, constructed, or renovated serves as collateral. It allows individuals to own a home without paying the full cost upfront. Repayment is typically made in equated monthly installments (EMIs) over a fixed tenure, which can range from 5 to 30 years. Home loans may include features such as floating or fixed interest rates, tax benefits under government schemes, balance transfer options, and top-up loans. Eligibility and interest rates depend on the borrower’s income, credit score, and property value.