Usually loans are disbursed within 5-7 days after completion of verification by the institution , documentation (such as handing over of the original agreement for sale / lodging receipt to the lender) and completion of all relevant procedures and only after proof that the borrower’s own contribution has been paid by him to the vendor / builder/ developer

The flat purchased is the primary security and is mortgaged to the lending institution till the entire loan is repaid .Additional security such as life insurance policies,shares ,bonds ,fixed deposit receipts ,national savings certificates can also be offered ,as per the requirements of the institution.

In a monthly reducing interest system the principal on which interest is paid reduces every month as EMI is paid .In the annual reducing system the principal is reduced at the end of the year, and the borrower pays interest on a certain portion of the principal , which is actually paid back to the lender .The EMI for the monthly reducing system is effectively lesser than the yearly reducing system of calculating interest.

Interest rates vary form time and from institution .The current trend ranges from about 8% to 11% pa. The interest calculated either on a daily or monthly reducing or yearly reducing balance.

Today, the market is buoyant with Home Loan Offers made available by the financial organizations. People nowadays are opting Home Loans for their varied needs. The types of loan vary with diverse requirements of the clients. One opts for home loans for variety of purposes such as construction of home, its renovation and extension as well as buying and purchase of home or property. Varied alternatives are also available for the customers. An individual is offered all alternatives of Home Loans to choose from depending on their requirement. After accessing your requirements you can choose Home Loans according to your exact needs.

The Home Loans that are available in the market have different criteria to avail. They also have number of segments that are categorized according to varied demand of the market – different home loans for different requirements. The following is the list of different types of Home Loans you can avail from the market: