It is a well-known fact that buying your dream home in India is quite a tough call due to the soaring prices with each day passing by. The cost of real estate in our country has pushed many people to avail of a home loan only. This is because going ‘All-In’ affects an individual’s financial plans and strategy for the future.
To avail of a home loan, thanks to technology, the same is easily accessible from a home credit instant loan app on your smartphone. It’s been around six months since I moved to my new residence in Gurugram, Haryana and the flat I purchased was seriously out of my budget. But this is what a home loan does. Right? It helps you to make your dream come true. So thanks to Bajaj Finserv, the application I’ve been using for quite a while now, for helping me get a home loan with just a few taps.
A home loan is a credit facility provided by banks and NBFCs (Non-Banking Financial Companies) to those planning to buy a home or land, build a home on their own plot, or renovate their home along with maintenance needs.
It is essential to understand that whenever an individual obtains a home loan, they mortgage their property to the lender. Here, a portion of the principal amount, along with interest, is paid through EMIs (Equated Monthly Installments) every month. Notably, it is pertinent to mention that both the interest and the principal components qualify for a tax deduction.
(Note: It is essential to know that one gains complete ownership of the property after the end of the tenor.)
Instead of downloading a home credit instant loan app, a person is left with the traditional method of going to the financial institution to go through the entire procedure of availing of a loan. Well, the traditional method takes up a lot of money, time, energy, and fuel.
However, the digital method, on the other hand, is easy and feasible due to the increasing penetration of internet-enabled smartphones. With just a few taps, you are good to go.
If you are on the right track, getting a home loan is no big task. Now, for your better understanding, I’ll share how I availed it.
- Download the Bajaj Finserv application from the Play Store (Android) and App Store (iOS).
- Sign up with your details.
- On the home page, you’ll see a ‘Loans’ icon on the top.
- Click on it and go to the Home Loan section.
- Follow the step-by-step procedure, and you are good to go.
Now, please don’t consider that a home loan from a home credit instant loan app is easy money lent by a financial institution as it is mandatory to be eligible for a home loan. And there are certain factors, such as your income, age, credit history, employment status, etc., come into play for home loan eligibility.
However, all-in-all, if you are planning to build your dream home, I’d highly recommend the Bajaj Finserv application.