Loans are a very special instrument to full fill the dreams of the Indians. People use the loan to buy a car, for education, dream house, new startups, and many more.
This blog is based on the house construction loan
About house construction Loan
A house construction loan is a kind of loan you can build a home on a plot that owned by you.
Top benefits of home construction loan
A home construction loan is a lot of benefits that a Browers are not aware of this stay with this blog and know its benefits.
Interest-Only Mode:
Most of the lenders offer pay just interest rates when your house is under construction. you need to pay your capita when your home construction gets over.
Fast Approval:
Most of the lenders offer instant home loan approval by submitting a basic document and the approved loan amount gets transferred to your bank account in a few days.
Tax Benefits:
A home construction loan is a medium to save the tax. you can apply for tax deduction under section 80C.
Attractive Interest Rates
Basically the home loan interest rate is low than other loans. home construction loan infrequently applied for loans in India.
Long Repayment Term and low EMI
This loan falls under long term repayment tenure up to 30 years. The simple means of long tenure is low EMI that is helps you to pay your EMI without disturb your monthly income.
These are the benefits that home construction loan offer you need to know before avail this loan.
