HSBC Home Loans are among the most notable home loans in India. With the help of this home loan you can easily materialize your dream of owning a piece of heaven called home into a reality. With the easy repayment facilities offered by the HSBC Home Loans you can now have a home without putting much pressure on your pocket.
If you are a resident or non resident individual of Indian origin with a constant source of income you can apply for HSBC Home Loans. The home loan from HSBC allows you to buy ready houses or flats and under construction house or flats. The HSBC Home Loans are also available for construction of house or flat or for improvement, furnishing and repair of home. Depending on your requirement you can avail for a loan amounting from 5 lacs to 3 crores. The repayment tenure of the loan is up to 25 years after taking the loan.
HSBC Home Loans give you the option to choose between fixed and floating rate home loans. If you choose a floating rate home loan you can switch to a fixed rate home loan from that once in a year.
The best thing about it is that you do not have to incur any extra cost for that.
If you decide to repay the loan amount before the due date you can do so with HSBC Home Loans facilities. Every year you can prepay up to 25% of your loan amount without paying any penalty for that. However the pre-payment is allowed after following the loan disbursal for at least six months.
When the HSBC Home Loans for which you have applied gets approved you will get a gold credit card which will b free for the first year and the annual charges will be forfeited. What more? All the resident Indians who are availing HSBC Home Loans will be entitled to certain tax benefits under the Income Tax Act, 1961.