HOME LOAN

LAND LOAN

They are availed for properties that are constructed, or are under construction.

These are availed when you are looking to purchase a land to either build a house or for investment purpose.

The tenure provided here is up to 25-30 years depending upon financial institutions.

The tenure provided over here is up to 10-15 years depending upon the financial institutions.

Tax deduction options are available for repayment, towards the home loan interest and the principal outstanding.

Over here no tax deductions are available; they are available for only the construction year.

Interest rates generally start from 8.75%. Interest rate is calculated as per the base rate

Interest rates generally start from 8.75 -9%. Interest rate is calculated as per the base rate

Home loan charges no foreclosure charges on floating home loan rates.

In land loan or loan against property, foreclosure charges are 2% to 4% rates.

In home loan borrowers get around 80% of the property value.

In land loan borrowers get 60-70% of the property value.