Q1. How can I apply for a home loan?
You can take an application form from our office nearest to your place or you can also download our application form from our website and can submit it with all required documents.
Q2. What does an EMI mean?
EMI stands for Equated Monthly Installment. This is the amount a customer pay to its lender every month, quarterly or fortnightly on a specific date till the complete repayment of the loan. The EMI comprises of two elements – principal and interest.
Q3. Will I get any tax benefits on my home loan?
Yes, under the Income Tax Act, 1961, you are eligible for the tax benefits on the interest and the principal components of your home loan. But these benefits could vary each year, so you need to counsel with your Loan counselor to know about your share in tax benefits.
Q4. What is meant by the ‘Market Value’ of a property?
Depending on the prevailing market conditions, the expected amount to be fetched on a property is known as the market value of a property.