It is a long-standing dream to many that they wish to have a house of their own. But the financial implications of purchasing a property through traditional means can be staggering. One of the key home loan benefits is the ability to purchase a property with ease through manageable installment payments, making homeownership more accessible.
We at Zest Dhan help in easing this entire process by linking you with top banks and Non-Banking Financial Companies (NBFC) so that they may assist you in formulating loan plans tailored specifically to your requirements. These plans can include Personal Home Loan schemes among other options provided.
Top 6 Home Loan Benefits in India
1. Affordable ownership, not lifetime rent
Having a property is often regarded as a basic necessity rather than a luxury, especially considering the rampant inflation of property prices. It is more beneficial to consider home loans as they help in building equity over the years unlike renting, which is often termed ‘throwing money down the drain’.
In many instances, the Equated Monthly Installment (EMI) of home loans tends to be similar to rent paid. In this case, owning a home becomes much more realistic.
2. Easy on your savings
A large amount of money is required in order to purchase a home, which can stretch your savings thin. Almost every individual is equipped with a financial plan, and not many are enthusiastic about saving money. This is where home loans become suitable, as they allow spreading out costs over several years while making them affordable.
Zest Dhan enables you to easily lay your hands on loans that have little to no down payment through our extensive connections with other lenders. This ensures your dream house does not come at the cost of monetary security.
3. Appreciation of Property over a Span of Time
A major home loan benefits is that it’s value appreciates with time; converting it into a wonderful investment. When you purchase a house, it is a place to live while also investing in an asset that will provide good returns in the years to come.
Financial and emotional stability is further assured through property investment.
4. Low Interest Rates with Tax Benefits
Home loans have tax deductions, which makes them more attractive not to mention, home loans come with them.
Section 80C: A deduction can be claimed on the principal repayment of home loans up to the limit of ₹1.5 lakh.
Section 24(b): A deduction of interest paid on a home loan for a self-occupied property can be claimed up to a limit of ₹2 lakh.
It is evident from these points, these deductions would lower tax obligation, increasing overall savings.
5. Flexible Loan Terms with Professional Assistance
Fixed and floating interest rates, changeable repayment plans, as well as flexible tenure characterize home loans.
With Zest Dhan, you have advisors who walk you through all options and assist you in selecting the best course of action based on your finances.
Accompanied by our no-hassle transparent and easy-to-use tools such as calculators for EMI or instant eligibility checks.
6. Improve Creditworthiness
Your credit score does receive a boost from paying off your home loan EMIs on time. Improved credit history enables you to avail loans, credit cards, and other financial instruments.
Achieving creditworthiness through a home loan can significantly enhance your financial prospects in the future.
Zest Dhan Advantage
- Free Expert Consultation: This service allows you to work with our financial advisors who assist you with possible strategies tailored to your needs.
- Smooth Take Offs: Our partnerships with leading banks like HDFC, Axis, and ICICI means quicker integration of loans.
- Process with Integrity: There are no concealable fees or tawdriness, only straightforward dialogue.
- Simple Sign Up: Use our online system from the ease of your house.
Conclusion
A home loan is an unrivaled financial instrument on its own. It serves as a guiding light for the dreams of owning a home. Enhancements like affordability, the possibility of saving on taxes, steeping home value appreciation, and credit worthiness do make a home loan a strategic financial decision.
We at Zest Dhan are dedicated towards making the journey more smoother and beneficial towards the end.
What are you waiting for? Be the first user to schedule an appointment towards your dream home.
👉 With Zest Dhan, checking your eligibility is straightforward, quick, and fully open.
Caution: The aforementioned information is for preliminary understanding and does not substitute for important information. For tailored advice, a financial planner should be engaged directly.