ad associates - Home loans

In today Scenario taking Home from ur pocket is impossible.We at AD Associates are working constantly to get you the BEST Loan Deal & have brought a small guide which would answer some important questions related to Home Loan & help you decide your loan deal.

Benifits of Home Loan

Low Interest Rate :
It works out to be much cheaper than a personal loans, which is usually issued at interest rates in the region of 8.5% to 14%.
Own Home Without any Tension In today Scenario taking Home from ur pocket is impossible.Now all Bank and financials institutes made it possible and tension free.
Tax Benefits :
The home loan borrower enjoys Tax Benefits on both Interest paid & the Principal re-paid. Under Section 24(d) of Income Tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 1, 50,000. Under Section 80(c) of Income Tax, Principal amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of Rs. 1, 00,000.
Lower EMI :
Since its loan for 15 to 20 years,the rate of interest is lower, EMI is cheaper than other loans.
Processing fee :
It is a fee charged by banks from the borrowers to process their loan application; it is normally between0.5% of the loan amount.
Tenure :
The tenure for a Loan Against Property is usually longer than that for a personal loan. Generally, LAP is given for a maximum tenure of 10 years.