Home Loan Advantages and Disadvantages


Advantages of home loans

Your own home – The greatest advantage of a home loan is that you can have your dream home through this loan. You don’t have to live in a rented property anymore.

Handy and easy to get to- Home loans are quite accessible and convenient as you can a large amount of money through home loans.

Many Loan options- Banks advertise various types of schemes to attract the people who want to buy a home. The real earnings for a bank come from the interest they charge on these loans.

Lower rates of interest- Banks provide home loans at lowest rates of interest than other types of loans.

Bank loans offer tax benefits- Customers taking loans from banks enjoy some relief from tax, since the percentage of income used to repay the loan is exempted from tax.

Disadvantages of home loans

Long tenure: – tenure for repayment of the loan is often very long but considering the fact that you will have your home, the long tenure can be endured.

Changing interest rate: – Interest rates for a home loan are bound to change with every change market interest rates.

In case you are unable to repay your loan, you are set to abandon your home


Please enter your comment!
Please enter your name here