Special Home Loan Offers For the Festive Season

In India, the festival season begins in July and the months of September, October, and November are so crowded with celebrations that many businesses come up with special offers and discounts during these months.

Buying a home or jewellery during this season is considered auspicious and many buyers wait till Dussehra or Diwali to make big ticket purchases. Lenders also come up with new offers during this season, including special Home Loan offers. 

So, home buyers can shop around for the best Home Loan offers now and buy the house of their dreams without any problems. This season also initiates efforts from builders to find more customers. Even individual sellers who want to find purchasers for the house they are selling could offer to reduce the price during this season.

So, with special loan offers and reduced prices on homes, these festive months can be a great time to buy a home.

Sorting through Home Loan Offers

If you do your research, you could find special offers on different types of Home Loans like land purchase loan, home construction loan and so on.

If you want to construct your own house, you first need to buy a plot. For this you could get a land purchase loan, which can cover upto 80% of the land cost. You could later get a home construction loan to build a home of your own design. 

Do you already own a house? Maybe you have been putting off painting or renovation work on it due to budget constraint. Find special offers on Home Improvement Loans now, and carry out the repair and renovations you have been putting off.

Suddenly discovered that loan interest rates have fallen? This is the best time to look for Home Loan Balance Transfer offers.

A Home Loan Balance Transfer is a facility by which you can refinance your Home Loan. You can get a loan from a new lender and pay off the outstanding amount to the old lender. Then you need to repay the loan from the new lender who offers you better terms like reduced interest rates, or flexibility in EMI schedule.

If you have paid off enough EMIs, many banks and NBFCs come up with special offers on top up loans. A top up loan is a facility that lets you use the equity you have acquired on your home to get funds needed for other needs like buying furniture, paying medical bills, or paying for your child’s higher education. These top-up loans are offered at much lower interest rates than Personal Loans.

Home Loan offers - What to Focus On

When you are exploring special offers on Home Loans, don’t be tempted by freebies like gold coins or other such offers. Look for reduced interest rates, waiver or reduction in extra charges like processing fees, prepayment charges etc. Read the fine print and see if some offers like EMI waivers will provide real savings on the loan cost or will have very little impact on the overall loan cost over the full tenure. These special offers could also come with special conditions that prevent you from foreclosing the loan or making part-prepayments. Read the offers terms carefully, and select the best Home Loan offers to choose from. Get the loan and celebrate Diwali in your new home.