You’re investing in a property that has greater value appreciation than the finance you arrange today!!
When even luxury is necessary, you cannot defer your decision to buy a home. That is why you seek financing options.
Demand is incomplete without desire and capacity to buy. Money talks when you think of owning a property. There is no compromise on what you dream. Owning a home has longterm effects. Hence, buy the one you dream.
Go for alternative financing options if you feel secure. The best option, we strongly advise, is from family sources. Interest-free deals will help you feel relaxed. With regular income, you will be able to pay back the loan amount.
Avail loan facility
Those who want to own a flat or villas can get loans up to 85% of the property price. Down payment has to be made. The period of the loan can be flexible depending on how you can pay back.
First and foremost, check eligibility criteria for home purchase loans. If you are salaried and have been employed for the minimum period prescribed, banks proceed. It is advisable to check your CIBIL score.
Banks offer loans for purchasing new or preowned homes. Different banks resort to different lending methods though. Interest rates can be either floating or fixed subject to monetary policies of the central banks. The rate of interest of a salaried person can range from 6.50% to 10.30%. And a businessman would have a rate of interest from 6.50% to 11.15%. (The rate is tentative)
Home loan in Kerala
Kerala Housing Finance Limited provides loans to those whose dreams are still distant for owning a home. This loan is especially for the middle class. Kerala Gramin Bank provides home loans for resident individuals and NRIs who have steady and adequate income. Individuals below 55 years can avail of the loan. NRIs can avail of loans to buy apartments or build a home anywhere in Kerala.
Nationalised banks, private banks and cooperative banks provide various financial options to those who aspire to own a home.
