Enjoy tax benefit with these four loans

While buying a dream house or applying for higher studies, loan borrowing is an important procedure if you don’t have strong financial backing. Moreover, it is also said that a loan provides lots of benefit to an individual but many a times its repayment becomes an expensive task which let the borrower fell pray of a debt trap.

Tax Benefit

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However, there are several loans available in the market which can provide a great relief to the borrowers along with tax exemptions too. Important among these are home loans, personal loan, education loan etc.  Let’s discuss them in detail to know the tax benefits:

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All You Need to Know about Transfer of Your Home Loan

A number of existing home loan borrowers, who are not satisfied with the services of their existing lender, are now choosing to transfer their loans to another bank. The transfer of loan, also called refinancing, has become popular in the Indian market, nowadays. The main reason of transferring a home loan is to get advantage of a lower rate prevailing in the market. Apart from this, there can be few other reasons, such as:

All You Need to Know about Transfer of Your Home Loan

  • When you are not satisfied with the services of your existing lender.

  • When your existing lender is not flexible enough to incorporate something new into the scheme.

  • When you want to increase the tenure of your loan or decrease the EMI, but the current lender does not agree to it.

  • When the value of your property has shot up much above the original value and you want to top-up your loan for renovation or other requirements, but the lender does not agree to it. [Read more…]