What Is Home Loan // Home Loan Meaning, Types of Home Loan...

What is a Home Loan?

A home loan is an amount an individual borrows from a financial institution such as a housing finance company to buy a new or a resale home, construct a home or renovate or extend an existing one. The money is borrowed at a specific interest rate and repaid within a particular duration in smaller instalments known as EMIs (Equated monthly instalments).

What are the types of Housing Loans available in India?

In India, financial institutions offer different types of home loans to suit the specific needs of customers.