Purchasing Dream Home in India

1
Purchasing Dream Home in India
2
Introduction

• It is still a distant-dream for many to live in
  the house of their own, a lot of people specially
  in metropolitan cities still dwell in houses with
  rent.
• Years pass by and the dream to own a house fades
  away, to overcome this dream one definitely needs
  a source of income which is constant.
• Along with the constant provider of monetary
  funds there is also a need to borrow loan, in
  order to do so one must have a proper knowledge
  about quality of loan offered by banks. There are
  various criteria to judge the quality of loan.
  Here we will know such factors which play an
  important role.

3
Interest Rates

• The most basic and foremost factor which usually
  attracts most people is the rate at which the
  loan is offered by the bank. One can take loan in
  two different ways
• Fixed interest rate
• This means your interest rate on loan will always
  be fixed no matter what fluctuations happen in
  the market.
• Floating Interest rate
• If you take loan with floating interest rate,
  then the rate may vary with respect to the
  market position.

4
Duration of Loan

• One has to carefully choose the duration of loan
  because this plays an important role in deciding
  your every month installment.
• For example- If the duration of your loan is 20
  years, so consecutively for 20 years every month
  you will have to pay your EMI.
• This is important because one might just fail to
  provide their EMI on time.

5
Amount Of Loan

• So after filling all the documents and providing
  the bank with necessary proofs it is on the bank
  to decide the amount of loan they will sanction.
  To get the loan sanctioned one must take care of
  all the factors mentioned in the previous slides
  and if everything is optimum no bank will be able
  to disapprove your loan.

6
Summary

• A difficult task if dealt with proper
  instructions and steps can easily get sorted.
  Same is this presentation trying to explain. If
  one follows all the step mentioned in the slides
  and take special care then it is not that tough
  to get the loan approved. For your information
  some good reputed banks for home loans are HDFC,
  PNB Housing, SBI, etc.