Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Types of home loans in India-a brief overview

By Chris Luke Subscribe to RSS | May 31st 2012 | Views:
loading
 
  



Buying your dream house with a loan

Planning to buy a luxury 2BHK home but worried about high prices? Apply for a home loan now and purchase the house that you had always dreamed of. You definitely feel like buying a new house whenever a new residential project is launched. Owing a brand new house with the latest amenities and luxuries is the dream of almost every Indian. Since the last few years, due to inflation, it has become difficult for the middle and low income groups to buy a flat, row-house or even build a bungalow of their dreams. The Indian banking sector with its innovative loan products helps people buy the home of their choice.

Inflation has not stopped builders from constructing amenity-featured, luxurious residential properties. As the per capita income and financial positions of the residents is fast improving, they are able to invest in new properties. Some people purchase a new house as investment while most others buy them to fulfill their basic needs of owning a place to live.

Types of home loans in India

Over the past few years, to suit different lifestyle needs and home-purchase requirements of residents, the banking sector have come up with different types of home loans in India. Some of the popular home loans offered by the banks in India include home loan, home construction loan, home improvement loan, land purchase loan and home extension loan.

• Home loan-A loan of up to 80% of property is given by the bank to people who want to buy a new home.

• Home improvement loan-A loan of up to 85% of the cost of renovation is given by the bank to the Indians who want to renovate their house or undertake repairs.

• Home extension loan-A loan of up to 85% of the cost of extension is given by the bank to residents who want to expand their existing homes.

• Land purchase loan-A loan of up to 80% of the cost of new land is financed by the bank for residents who want to buy a new land. The land might be bought just as an investment or for constructing a new house.

• Home conversion loan-A unique loan is offered by the Indian bank to residents who want to purchase a second home.

Applying for a home loan online

To simplify the process of applying for a loan, banks offer all types of home loans in India through their websites. Applying for a home loan online is simple due to the following reasons:

• You have information about all kinds of loans available at your finger tips

• Comparing the features of home loan products is simple

• Applying for a suitable loan and submission of required documents is simplified with hassle free procedures

• Loan approval is fast

• Sharing personal data while applying for a home loan is safe and secured at the banks website

Chris Luke - About Author:
If you are looking for different types of home loans in India with low interest rates then I would recommend you to opt for HDFC. It is a leading housing finance provider company in india.Compare interest rates, apply home loan online & get instant e-approval.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/types-of-home-loans-in-india-a-brief-overview.htm

Related Loans Articles Subscribe to RSS

Cash now- Feasible loan deal of your choice
Published by Luck Wright on July 13th 2012 | Loans
If you are taking quick sum of money via cash now loan, you can be fought against financial emergenc...
 
90 day loan- Reliable and perfect choice of financial help for everyone
Published by Thoms Stuart on June 22nd 2012 | Loans
By acquiring quick cash with the aid of 90 day loan, you will get instant funds up to $1500. This is...
 
Avoid the trap of a defaulted student loan
Published by Michelsmith on December 2nd 2011 | Finance
A defaulted student loan can spoil your career as well as your future family life and hence take the...
 
Private school loan for bad credit- Unique loan for private school
Published by John Simen on May 23rd 2012 | Loans
By taking private school loan for bad credit, you can easily manage expenses that require with your ...
 
Unemployed loan: Rapid loan for the point of fast support
Published by Alan Poly on December 20th 2011 | Loans
Unemployment can be obtainable without security and with the provision can be a bit varied for the s...
 
Merchant cash advance is the new kind of business loan
Published by Sadie Rad on April 16th 2012 | Finance
Small businesses are on the rise everywhere and all they need is funding. It is absolutely necessary...
 
No checking account payday loans- Matchless loan available for salaried persons
Published by Morgan Sadyu on April 25th 2012 | Loans
At present, no checking account payday loans are available online to help many borrowers. The fundin...
 
1000 cash loan- Grab quick cash and remove cash crisis now!
Published by Morgan Sadyu on May 4th 2012 | Loans
With the aid of 1000 cash loan, it is possible for you to borrow quick cash to meet unexpected finan...
 
Small payday loan- Impeccable fiscal solution for salaried people
Published by Abell Bush on April 13th 2012 | Loans
By acquiring quick cash through small payday loan, you can combat unforeseen financial trauma with e...
 
24 hour loans- Get both quick approval and quick loan
Published by Terry Schow on December 29th 2011 | Loans
Fast approval is the essence 24 hour loans. These loans take away worry and stress even before you f...
 
Personal Loan Company: Accomplish their personal requirement on rate interest loan
Published by Steve Matthew on February 3rd 2012 | Loans
Personal loans company are the most excellent resources of fulfilling the individual wants and one c...
 
One Day Payday Loans- low risk of taking loan
Published by Smith Eldwin on July 16th 2012 | Loans
By taking quick funds via One Day Payday Loans, you have the right option to meet cash worries....
 
Secured loan in UK: are an inexpensive economic result
Published by Ian Foster on November 29th 2011 | Loans
Secured loans in UK can be availed by presenting safety beside loan amount and most of the lenders p...
 
Quick cash loans- Reliable and useful loan for Australian
Published by Adinm Gaili on March 27th 2012 | Loans
If you have any credit problems, you can now apply for Quick cash loans to meet financial crisis wit...
 
Get a payday loan- Easy and convenient way to acquire instant money
Published by Ponting Sarad on July 3rd 2012 | Loans
By getting a payday loan, you can instantly acquire quick funds so that you can easily fight against...
 
Fast loan no credit check- Meet financial urgency now!
Published by Andrew Stomes on June 25th 2012 | Loans
By taking fast loan no credit check scheme, you can now easily fulfill financial emergencies without...
 
6 month loan- Key benefit of funds for borrowers
Published by Aldis Roy on July 2nd 2012 | Loans
By getting quick cash with the aid of 6 month loan, you can easily fight any unexpected fiscal worri...
 
Fast loan online- Quickly solve your financial hurdles
Published by Thomas Symends on July 17th 2012 | Loans
By taking quick funds via fast loan online, you have the right option to meet cash worries with ease...
 
Next day loans- Get quick loan without taking much longer time
Published by Jaren Lese on July 7th 2012 | Loans
If you are acquiring quick funds via next day loans, you can easily fight against unexpected fiscal ...
 
2000 loan online no fax- Ultimate fiscal plan for American who needs instant funds
Published by Baldwin Will on May 16th 2012 | Loans
If you avail quick cash through 2000 loan online no fax, you may easily fight against any fiscal eme...