Home loans: There are different kinds based on needs; here are 6
Having own house gives a feeling of financial stability, emotional and social security. Past decade has seen sky-rocketing of real estate prices in the big cities of India, the small cities have also seen significant upward movement in the housing segment leaving the home buyers reconsidering or postponing their home-buying decisions. In these cases, home loan serves as the best option for those who aspire to have their own house
Home loan not only helps in buying home in instalments, it also serves as a major relief in personal income tax as per Income Tax act under section 24 and 80C. Image source: Reuters