It may look difficult to pay back your home loan much before its actual tenure. However, you can simply do it if you carefully plan and use your disposable income. A prepayment is a great tool to close the home loan early, save interest outgo and reduce the EMI bond. There are two ways to … Read more
Interest rates on home loans could move up soon even as banks will continue to increase deposit rates. Bankers said it is somewhat unreasonable to expect home loan rates to be at 6.4-6.5% when the benchmark yield is north of 7%. Though home loans are typically linked to the repo rate, which was left unchanged … Read more
On fulfilling the conditions u / s 80EEA, a homebuyer may get a deduction up to Rs 3.5 lakh (Rs 2 lakh u / s 24 and Rs 1.5 lakh u / s 80EEA) on interest paid on home loan. Apart from getting deduction up to Rs 2 lakh from the taxable income under Section … Read more