Home Loan Benefits For Ladies, When it comes to buying a home, home loan emerges as the best option for people to arrange funds for this high value purchase. But very few people know that they can make big savings with a home loan for women. A home loan for women tends to offer more value to the borrowers in several ways. One of them is that banks charges home loan interest rate for women. If you want to know more about home loan benefits for ladies, let’s get to know about the same in the following part of this post.
In the present day, women now play a significant role in the choice to buy a property. Women are either working full-time jobs or starting their own enterprises in greater numbers, and they are no longer financially dependent on their husbands or dads. As a result, many of them are able to make financial contributions for mortgages on par with their husbands. If a woman takes out a house loan, there are several benefits that come with it. We'll look at a few of the important ones that demonstrate why it's a good idea to always include a woman as a borrower when applying for a house loan.
Also Read: Benefits Of Refinancing Home Loan
Put simply, any home application is considered a home loan for women if the applicant is a female. There are several benefits of opting for housing loans for women. You can easily search for a home loan scheme for ladies
Below are some of the biggest benefits of choosing a housing loan for women.
Bank | Interest Rate | Processing Fee |
Union Bank of India Home Loan | 7.40% p.a. | Up to 0.50% |
Kotak Mahindra Home Loan | 7.50% p.a. | Up to 0.50% |
Bank of Baroda |
7.45% p.a. | Up to 0.50% |
SBI Home Loan |
7.55% p.a | 0.35% Max Rs. 10,000 |
Bank of Baroda |
7.45% p.a. | Up to 0.50% |
SBI Home Loan |
7.55% p.a | 0.35% Max Rs. 10,000 |
HDFC Ltd. Home Loan |
7.55% p.a. | Up to 0.50% |
Axis Bank Home Loan |
7.60% p.a | Up to 0.50% |
LIC HFL Home Loan |
7.50% p.a. | Up to 0.25% plus taxes |
Read More: Guide to Home Equity Loans: Advantages & Drawbacks, Eligibility & Limits
An individual must be able to satisfy certain requirements before any Financial Institute can authorise a house loan for her. These qualifying requirements for house loans for women are straightforward and condensed:
1. What is The Typical Difference in Interest Rates For House Loans For Men and Women?
Women often receive a 5 to 10 basis point reduction on the interest rate for a mortgage.
2. How Long May Women Borrow Money Before Having to Repay It?
The majority of institutions have established a 30-year maximum payback period for women.
3. Are There Any Home Loans Available For Housewives Without a Steady Source of Income?
Yes, housewives can apply for home loans using gold, real estate, or fixed deposits as security.
4. Who Determines The Rates of Stamp Duty?
The state government sets the stamp duty rates.
Over the past 20 years, women's advancement in India has accelerated significantly. Many more millennial women are assuming leadership roles and taking on more financial obligations. The Indian government and several banking organizations provide special deals on house loans for women in an effort to advance financial and economic equality in the nation, despite the fact that the financial standing of men and women is still not seen as equal in many areas.
Investkraft can assist you with your needs if you're looking for the house of your dreams and creating a budget to pay for it. Here, you'll discover the most amazing deals on a housing loan for women on residential real estate and financial guidance.
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