Festivals are usually associated with celebrations and the start of something new. With Diwali just around the corner, buying a new home is probably on the minds for many of you. And rightly so. It is also the time when builders and property developers offer discounts, freebies and lots of other goodies to attract customers. Even banks are known to come out with attractive festive offers for their customers. So, why not invest in your own home this festival season?
Exciting offers, rewards and discounts: A festive bonanza
The real estate sector often comes out with exclusive offers and discounts during festival periods. Property developers roll out enticing incentives, from modular kitchens to waived maintenance charges, directly benefiting homebuyers. These lucrative deals lighten the financial load, providing more value at a lesser cost. It's a time when your budget can stretch further, enabling you to accessorise your new home or save for future investments.
Tax benefits and Home Loan benefits: Save more!
Owning a home is the fulfilment of a dream and a crucial step in financial planning. When you secure a Home Loan, you become eligible for various tax benefits, allowing you substantial savings. Moreover, understanding Home Loan benefits, including flexible repayment schedules, balance transfer facilities, and the option of a Top-Up Loan, can significantly influence your long-term financial strategy.
Long-term investment: Future-proof and long-lasting
A home is a resilient investment, immune to the short-term fluctuations that typically affect other markets. The value of property can appreciate substantially over the long term, ensuring your family's financial security. This festival season, you're not just buying a property; you're investing in a haven that will shelter your family's dreams and aspirations for years to come.
Planning made easier with a Home Loan EMI Calculator
Before finalising your home purchase, it's essential to plan your finances. Axis Bank Home Loans EMI Calculator is an innovative tool that empowers you with foresight. By providing a clear picture of your monthly outgoing funds, it enables you to budget effectively, ensuring there are no surprises down the line.
Embarking on a journey with a trusted partner
With an institution like Axis Bank, you have access to Home Loans designed to ease your home buying journey. The bank offers loans starting at ₹3,00,000. The bank's commitment to ensuring your comfort goes beyond providing financial assistance. Benefits such as attractive interest rates, an easy application process, and doorstep service, make your dream home affordable and the process hassle-free.
Here are a few details about Axis Bank Home Loans -
- Loan amount: Up to ₹5 crore
- Loan tenure: Up to 30 years
- Floating interest rate: 8.75% - 9.15%
- Fixed interest rate: 14%
- Processing fee: Up to 1% of the loan amount +GST (minimum ₹10,000)
Navigating the home-buying process: Do’s and don’ts
Do's
- Thoroughly research property prices, builder credentials, project clearances, and Home Loan specifics such as interest rates, processing charges and the repayment schedule.
- Be prepared with the necessary amount for down payment, processing charges, stamp duty and registration fees.
- Have all required documents ready, including salary slips, Income Tax Returns and property agreements.
- Improve your credit history if needed, as a healthier credit score may result in better terms and conditions being offered on your Home Loan.
Don'ts
- Avoid applying for loans on multiple platforms, as it might decrease your chances of approval.
- Refrain from taking multiple loans since it impacts your application for Home Loan eligibility.
- Don't overspend with your Credit Card or delay loan repayments. This can affect your credit score negatively.
- Don't borrow beyond your means. Remember, affordability is key when considering a loan.
Conclusion
Your new home awaits, promising not just a sense of achievement but also long-term financial security. Plan judiciously and understand the array of Home Loan benefits. With a trustworthy partner like Axis Bank, you're one step closer to the keys to your dream home. Embrace the new beginnings that this festive season brings.
[Also Read: Secure independence from renting - own home via Home Loans ]
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision
