CredBot Fincare Pvt. Ltd

Tax benefits - You can claim a tax deduction on the interest and principal repayment amount. You can claim a deduction of up to ₹1.5 lakhs on principal repayment under Section 80C and up to ₹2 lakhs on interest payment under Section 24B of the IT Act.
Low interest rates - Home Loans are available at a lower interest rate than other loan types. These loans are easy to apply and are customisable. If you need additional funds, you can easily get a top-up loan on your existing Home Loan at a lower interest rate than a Personal Loan.
Property verification by the lender – Reduces risk for both ender and buyer
Long repayment tenure

Type	Usage
Loan for buying a Home	To buy a pre-owned Home/Flat
For Construction of a Home	Construction of home on owned plot
Balance Transfer of existing Home Loan	Can be taken for lower interest rate with other lender or to reduce your existing EMI
Top up Loan for Renovation of Home/Flat	Extension of Home or renovation of Home/Flat
Loan against property	Mortgage your property to purchase a plot or construction

Specific eligibility criteria for a Home Loan. Your loan application is accepted if you meet the eligibility criteria of the lender.

Age: 21 to 70 years
Employment type: Salaried or self-employed
Work experience: 2 to 3 years for salaried applicants and 3 to 5 years for self-employed applicants
Income: minimum ₹25,000
Existing financial obligations
Location and age of the property
The first thing noticed by any lender is your credit score.
Most lenders prefer a CIBIL score of 700 and above. CIBIL score is important for a Home Loan because it reflects your credit history and repayment habits.