If you are opting for a Home Loan, chances are that you already know about one of the most significant additional charges, over and above the interest, that you need to shell out while getting the loan. Yes, you guessed it right! We are speaking of the Processing Fee.  <h2>Processing Fee</h2> If you are new to the concept of Processing Fee, let us break it down for you. Home Loan Processing Fee is essentially a one-time fee that you ought to pay to the lender extending you the mortgage, at the time of collection of the documents. This fee is usually charged by the lender to cover for the expenses incurred with respect to the collection and verification of documents and credit appraisal. As can be easily understood, this fee is non-refundable, unless of course, it is explicitly stated by the bank, or negotiated by you. <a href='https://www.mymoneymantra.com/home-loan/hdfc-ltd.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12980' src='https://d1lt2ralzv8247.cloudfront.net/HDFC_limited_home_loan_2_5c36b3724a.jpg' alt='Lowest Home Loan Interest Rate on HDFC Bank' srcset='https://d1lt2ralzv8247.cloudfront.net/HDFC_limited_home_loan_2_5c36b3724a.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2021/03/HDFC-limited-home-loan_2-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2021/03/HDFC-limited-home-loan_2-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> More often than not, Home Loan processing fee may range anywhere between 0.15% and 6% of the loan amount. While the percentage might appear to be low to begin with, but, considering that a Home Loan often ranges in lakhs of rupees, the fee may prove to be quite expensive. For instance, if you are Applying for a Home Loan worth Rs. 30 Lakhs, and need to pay a processing fee of 5%, you will end up shelling out a whopping Rs. 1.5 Lakhs, which by no means is a small amount. It is for this reason that most financial advisors recommend you to look for <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/'>Best Home Loan Providers in India</a> who either has a reasonably low fee or even better, levy no charge at all. In the wake of the recent hikes in the repo rate by the Reserve Bank of India (RBI) by up to 50 basis points (bps), most financial institutions are on the lookout for a way to encourage their customers to take loans regardless. It is in line with this objective that some lenders have forgone the processing fee on Home Loans. To help you with your search for such lenders, we have consolidated a List of Home Loan Providers in India who charge zero processing fees. <ol> <li>State Bank of India (SBI)</li> <li>Kotak Mahindra Bank</li> <li>IDBI Bank</li> <li>Bank of Maharashtra</li> <li>Oriental Bank of Commerce</li> </ol> In addition to these banks, you can also relay on the following financial services companies to offer you a Home Loan without charging any additional processing fee: <ol> <li>Tata Capital</li> <li>Reliance Home Finance Limited</li> <li>LIC Housing Finance Limited</li> </ol> While these banks and lenders have been known to waive the processing fee, it is best that you inquire about the same, at the time of <a href='https://www.mymoneymantra.com/home-loan.html'>Applying for the Home Loan</a>, since most lenders change their policies every three to six months. For what it’s worth, if you are an existing customer of the bank from which you are seeking a loan, you can negotiate the terms and ask for a waiver on the processing fee. <h2>Other Charges</h2> Approaching a lender who does not levy processing charges will undoubtedly prove to be in your benefit. However, you shouldn’t forget that in any case, you will have to bear some other expenses, such as the ones mentioned below: <ul style='padding-left: 20px;'> <li> Legal and Technical Charges: You ought to pay these charges, at the time of submission of property documents, and are meant to cover the expenses incurred by the bank to process and verify the same. They usually range from Rs. 5,000 to Rs. 10,000. </li> <li> Memorandum of Deposit of Title Deed: Also known as MODT, this charge may range between 0.1% and 0.5% of the loan amount. The fee is levied on the submission of the documents of ownership of the property to the bank. </li> <li> Loan Conversion Charges: Albeit not levied at the time of taking the loan, you may need to pay these when you convert your credit from fixed interest type to floating interest type and vice versa. They usually come up to 2% of the outstanding loan amount at the time of conversion. </li> <li> Prepayment Charges: Just in case, you wish to make a payment towards the principal amount of the loan before the end of your tenure, either in part or full, you may be charged a prepayment penalty costing up to 2% of the outstanding loan amount. Although, this is only the case with fixed-rate loans. Floating Rate Home Loans do not attract this penalty. </li> </ul> We hope that in addition to knowing about Home Loan providers in India with zero processing fees, you now also have the much-needed information about the various other charges that can have a significant impact on the cost of the Home Loan. Now that you are equipped with this knowledge to make sure you get the most inexpensive Home Loan available. To this end, you can always seek the assistance of an online loan aggregator! Also Read: <a href='https://www.mymoneymantra.com/blog/7-important-questions-to-ask-your-home-loan-provider/' target='_blank'>7 Important Questions to Ask Your Home Loan Provider</a> To apply online for <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-for-pensioners/'>Best Home Loan for Pensioners</a>, Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. 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If you are looking for the best home loan providers, Here are 5 home loan providers that charge no processing fees in India. Read on to know more.

5 Home Loan Providers in India That Charge Zero Processing Fees

Finance Writer: Expert in Loans &amp; Credit Cards

Priyanka Jain

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Every Indian &amp; Non-Indian Resident who makes more than Rs 2.5 Lakh annually is mandated to file an Income Tax Return in our country. However, the IT Act, 1961, offers several tax saving options to each of assesses. By making use of these saving and investment options, you can retain more in your pocket and make most of the available tax-saving provisions. Now let&#8217;s explore options of saving income tax for FY 2021-22. <h2>1. Know your tax regime</h2> Union Budget 2020 introduced a new tax-saving regime with slight variations in the tax slabs. Let&#8217;s review the new and old tax slabs below. <h2 style='text-align: justify;'>Old &amp; New Income tax slabs applicable for FY 2021-2022</h2> <table class='table-bordered table'> <tbody> <tr> <td style='background-color: #8bc541; text-align: left;' colspan='1' width='621'>Income</td> <td style='text-align: center; background-color: #8bc541;' colspan='1' width='621'>Tax Slab-OLD</td> <td style='text-align: center; background-color: #8bc541;' colspan='1' width='621'>Tax Slabs- NEW</td> </tr> <tr> <td width='234'> Up to Rs 2.5 Lakhs For seniors &amp; super seniors, this slab is up to Rs 3 Lakh </td> <td style='text-align: justify;' width='189'> NIL </td> <td style='text-align: justify;' width='193'> NIL </td> </tr> <tr> <td width='234'> Above Rs 2.5 Lakh to Rs  5 Lakh </td> <td style='text-align: justify;' width='189'> 5 % In effect, NIL as an additional tax rebate u/s 87a is available </td> <td style='text-align: justify;' width='193'> 5% In effect, NIL as an additional tax rebate u/s 87a is available </td> </tr> <tr> <td width='234'> Above Rs 5 Lakh to Rs  7.5 Lakh </td> <td rowspan='2' width='189'> 20% </td> <td width='193'> 10% </td> </tr> <tr> <td width='234'> Above Rs 7.5 Lakh to Rs 10 Lakh </td> <td width='193'> 15% </td> </tr> <tr> <td width='234'> Above Rs 10 Lakh to Rs 12.5 Lakh </td> <td rowspan='3' width='189'> 30% </td> <td width='193'> 20% </td> </tr> <tr> <td width='234'> Above Rs 12.5 Lakh to Rs 15 Lakh </td> <td width='193'> 25% </td> </tr> <tr> <td width='234'> Above Rs 15 Lakh </td> <td width='193'> 30% </td> </tr> <tr> <td width='234'> </td> <td style='text-align: justify;' width='189'> Additionally following are applicable on tax: 1: 4% additional health &amp; education cess applicable 2: Surcharge of 10% or 15% of total income is between Rs.50 lakh &amp; Rs.1 crore or above Rs.1 crore respectively. </td> <td style='text-align: justify;' width='193'> Additionally following are applicable on tax: 1: 4% additional health &amp; education cess applicable 2:  Surcharge of 10%, 15%, 25% or 37 % if total income is over Rs 50 Lakh, Rs.1 crore, Rs.2 crore &amp; Rs.5 crore, respectively. </td> </tr> </tbody> </table> <div class='content-img' data-cms-attr='class:content_img_class'><img src='https://www.mymoneymantra.com/blog/wp-content/uploads/2021/02/How-to-save-income-tax-20-21-02.jpg' data-cms-attr='src:img_url' /></div> The new tax slab is straight forward and removes applicable deductions as under the old regime. The new IT regime does not incentivise the assesses for saving, investment and insurance schemes. This is why the tax saving would be more for a savvy investor in the older regime. The new regime is best for a middle-income group who do not save or invest with their income. Thus we will share all available tax saving options for the old regime in this article. <h2>2. Fully utilise Rs 1.5 lakh limit under Section 80C</h2> Under Section 80C of the Income Tax Act, each individual can claim a rebate on taxable income for a maximum of up to Rs 1.5 lakh. This deduction is available for the following saving, investment and insurance schemes. a) Tax-Saving Fixed Deposits (FDs): The amount invested in 5 years or above tax-saving <a href='https://www.mymoneymantra.com/fixed-deposits.html' target='_blank'>Fixed Deposits</a> can be claimed under section 80C and reduce your net taxable income. These FDs fetch maximum and assured deposit returns and thus popular among risk-averse investors like senior citizens. b) Public Provident Fund (PPF): PPF is a government-backed long term investment option for retirement. The scheme falls under Exempt-Exempt-Exempt (EEE) category, carries high returns and 100% secure. The principal, as well as interest, is exempt from taxation. The individual can claim a max up to Rs 1.5 Lakh tax rebate u/s 80 C for investing in PPF. c) Equity Linked Savings Schemes (ELSS): As the name suggests, ELSS funds invest a minimum of 80% in equity, and they are tax saving mutual fund schemes with a 3 year lock-in period. The long term capital gains over and above Rs 1 lakh are charged at 10%. d) National Saving Certificate (NSC): National Savings Certificate is another government-backed tax saving investment scheme with a fixed tenure of 5 years. The rate of return is currently 6.8%, and investment can be claimed for deduction u/s 80C. e) Premium paid for Life Insurance: Premium paid for life insurance schemes such as ULIPs, term insurance and endowment policies are also capped under 80C. The overall insurance cover should be at least 10 times the annual premium. f) Home Loan Repayment: The principal repayment amount of a Home Loan in a Financial Year is tax-deductible up to Rs 1.5 lakh per annum u/s 80 C. g) Tuition fees: The payment of tuition fees for kids is tax-deductible for parents under section 80C. h) EPF: Again, contribution to EPF is covered under Section 80C. i) Senior Citizens Savings Scheme (SCSS): Investments in SCSS is also tax deductible up to Rs 1.5 lakh u/s 80C. These schemes yield better than bank FDs and are strictly offered to senior citizens. j) Sukanya Samriddhi Yojana (SSY): Investment in SSY for a girl child can also be claimed for tax benefit under section 80C. k) These are various schemes that protect your future and yield good returns, and offer tax benefit under section 80C. However, the claim can be made for a max up to Rs 1.5 Lakh. <h2 style='text-align: justify;'>3. National Pension System (NPS): </h2> The additional deduction of Rs 50000 can be claimed under <a href='https://www.mymoneymantra.com/section-80ccd-in-india.html' target='_blank'>Section 80CCD</a> (1B) for investment to the NPS. However, the amount can be claimed at the age of 60. <h2>4. Health Insurance Premiums U/S 80D</h2> Under Section 80D, one gets a deduction of up to Rs 25,000 for payment of health insurance premium. For senior citizens, the max limit is Rs 50,000 and for self and senior citizen parents capping is up to Rs 75,000 per annum. <h2>5. House Rent Allowance (HRA)</h2> Furthermore, there is a provision of claiming a tax deduction on payment of housing rent. You can claim a deduction of up to Rs 60,000 per annum under Section 80GG. <h2>6. Repayment of interest on a home loan</h2> Under Section 24 of the Income Tax Act, a borrower is eligible to claim deduction up to Rs 2 lakh per annum on <a href='https://www.mymoneymantra.com/home-loan-interest-rates.html' target='_blank'>Home Loan Interest</a> repayment. Over and above this limit, an additional deduction of Rs 1.5 lakhs is offered for interest payments on loans taken up to March 31, 2022, for the purchase of an affordable home up to Rs 45 lakhs. <h2>7. Charity in favour of registered NGOs</h2> Section 80G of the Income Tax Act allows you to claim tax benefits on 50% of the donated amount to NGOs. The max tax saving should not be over 10% of your taxable income. <h2>8. Repayment of Education Loan</h2> The repayment of an education loan makes one eligible to claim a tax rebate on interest component EMI payments for 8 years under section 80E. No tax benefit is offered for the principal part of the loan instalment. <h2 style='text-align: justify;'>9. Conveyance Allowance</h2> Both new &amp; old regimes offer income tax exemption for conveyance, travel and other allowances given by the employer. <h2>10. Interest earned in Savings Accounts</h2> Interest income up to Rs 1000 on savings accounts per financial year is exempted for tax under Section 80TTA. Under section 80TTB, the limit is Rs 50,000 for senior citizens, which includes interest earned on both FDs and savings accounts. Using these provisions, you can save substantial income tax legally. These tax-saving avenues not only leave much cash in your pocket or essential savings &amp; investment instruments but also align your portfolio for better financial health. As a rule of thumb, deduction u/s 80 C &amp; 80D should be claimed by all. Further benefits should be used as per your personal life stage. Hope you make most of all these tax saving options.   Also Read: Income <a href='https://www.mymoneymantra.com/blog/income-tax-return-filing-how-certain-loan-products-can-help-you-save-income-tax/' target='_blank'>Tax Return Filing: How Certain Loan Products Can Help You Save Income Tax</a>   To apply online for <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/' target='_blank'>Best Home Loan in India</a>, Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 7 million+ happy customers since 1989. <a href='https://www.mymoneymantra.com/home-loan/kotak-mahindra-bank.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12160' src='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg' alt='Lowest Home Loan Interest Rates on Kotak Mahindra Bank' srcset='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/how-to-save-income-tax-in-financial-year-2021-22/' data-a2a-title='How to Save Income Tax in FY 2021-22?'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

Every Indian &#038; Non-Indian Resident who makes more than Rs 2.5 Lakh annually is mandated to file an Income Tax Return in our country. However, the IT Act, 1961, offers several tax saving options to each of assesses. <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/how-to-save-income-tax-in-financial-year-2021-22/' data-a2a-title='How to Save Income Tax in FY 2021-22?'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-save-income-tax-in-financial-year-2021-22%2F&amp;linkname=How%20to%20Save%20Income%20Tax%20in%20FY%202021-22%3F' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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COVID19 has disrupted income, saving & expenditures for maximum households. Here is a step-by-step guide on how to save income tax in the financial year 2021-2022.

How to Save Income Tax in FY 2021-22?

A Home Loan Provisional Certificate is provided by your lender. It is a document that works as a legal proof of your Home Loan credit history and summaries details of Home Loan repayment, categorising interest and the principal amount repaid in the given financial year. You can download Home Loan Interest Certificate online or by visiting your bank branch. Having a copy of Home Loan certificate benefits you in multiple ways. <h2 style='text-align: justify;'>Why Home Loan Certificate is important?</h2> Here are the benefits of requesting Home Loan statement from your bank or NBFC: 1. Legal proof of Home Loan repayment history. 2. When you apply for a loan, the lender will demand Home Loan certificate to evaluate loan-to-value ratio i.e. the balance loan amount and eligible credit limit. 3. While filing income tax return you are required to submit the Home Loan statement to claim <a href='https://www.mymoneymantra.com/home-loan-tax-benefit.html' target='_blank'>Tax Benefits on Home Loan</a> principal and Home Loan interest repayment under sections 80C &amp; 24 respectively. <a href='https://www.mymoneymantra.com/home-loan/kotak-mahindra-bank.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12160' src='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg' alt='Lowest Home Loan Interest Rates on Kotak Mahindra Bank' srcset='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> Thus, it is important to demand a Home Loan Interest Certificate from your bank each financial year. You should always request loan statement for each financial year in a timely manner. Let’s find out online method for downloading Home Loan Interest Certificate form top banks and NBFCs below: SBI Home Loan Provisional Interest Certificate State Bank of India is India’s largest public sector bank and offers hassle free customer support  through its website and app. To download SBI Loan Statement follow these steps: <ol style='text-align: justify;'> <li style='text-align: justify;'>To access SBI Home Loan Interest Certificate log on to SBI personal banking website: <a href='http://www.onlinesbi.com/personal' rel='nofollow'>onlinesbi.com/personal</a>.</li> <li style='text-align: justify;'>Click on Enquiries tab &amp; select &#8220;Home Loan Int. Cert (Prov)&#8221; link.</li> <li style='text-align: justify;'>Now, choose Home Loan Account for which you want the interest certificate.</li> <li style='text-align: justify;'>The certificate can be viewed, printed or downloaded in pdf format as per your choice from this window.</li> </ol> <h2 style='text-align: justify;'>ICICI Bank Home Loan Statement</h2> To get ICICI Home Loan Certificate/ Statement online, follow these steps: <ol style='text-align: justify;'> <li style='text-align: justify;'>Visit <a href='https://www.icicibank.com/Personal-Banking/loans/home-loan/home-loan-statement.page' rel='nofollow'>https://www.icicibank.com/Personal-Banking/loans/home-loan/home-loan-statement.page</a></li> <li style='text-align: justify;'>Click on ‘Continue to Login’ under Home Loan Statement.</li> <li>Login here with customer ID &amp; password.</li> <li style='text-align: justify;'>Share Home Loan account number, date of birth, loan amount, EMI amount &amp; submit the information.</li> <li style='text-align: justify;'>This will provide instant access your Home Loan summary, provisional income tax certificate, final income tax certificate etc.</li> <li style='text-align: justify;'>Access Home Loan interest certificate &amp; download it.</li> </ol> <h2 style='text-align: justify;'>HDFC Home Loan Provisional Interest Certificate</h2> To download HDFC Home Loan Provisional Interest Certificate follow steps as under: <ol style='text-align: justify;'> <li style='text-align: justify;'>Visit link for directly downloading HDFC Provisional Interest Certificate for FY 2020-2021: <a href='https://portal.hdfc.com/loanapps/provisional-interest-certificate' rel='nofollow'>https://portal.hdfc.com/loanapps/provisional-interest-certificate</a></li> <li>Provide Loan Account Number and submit the application.</li> <li style='text-align: justify;'>Now you will access Home Loan Provisional Interest Certificate for the current year.</li> <li style='text-align: justify;'>Choose to receive the document by Email or Post. The postal delivery will take up to two working days.</li> <li style='text-align: justify;'>Alternatively you can visit https://portal.hdfc.com/ and log in to ‘Online Access for Customers.’ Share Loan Account Number and Date of Birth to access the Account Statement.</li> </ol> <h2 style='text-align: justify;'>Axis Bank Home Loan Statement</h2> Axis Bank also provides one step instant access to Home Loan statement. Here are the steps: <ol style='text-align: justify;'> <li style='text-align: justify;'>Visit <a href='https://application.axisbank.co.in/WebForms/axis-support/Interest-Certificate.aspx' rel='nofollow'>https://application.axisbank.co.in/WebForms/axis-support/Interest-Certificate.aspx</a></li> <li style='text-align: justify;'>Share registered mobile number and validate captcha and press ENTER.</li> <li style='text-align: justify;'>On verification of mobile number you will instantly access the document. Axis Bank Home Loan Interest Certificate will be automatically downloaded.</li> <li style='text-align: justify;'>Make sure site settings for “pop up” is enabled before making the request.</li> </ol> <h2 style='text-align: justify;'>Bank of Baroda Home Loan Statement</h2> Bank of Baroda is the third largest public sector bank of the country and support customer-friendly digital support. Here are the steps to download BOB Home Loan Interest Certificate. <ul style='text-align: justify;'> <li>Use your BOB Used ID and Password to log in to Baroda Connect.</li> <li>Click on “Services” tab and choose Tax Section.</li> <li>Now click on Interest Certificate Tab.</li> <li style='text-align: justify;'>Choose Certificate Type, Account ID and Financial Year to instantly get Home Loan Interest Certificate.</li> <li style='text-align: justify;'>The Certificate will be automatically downloaded on your device. Save for future reference.</li> </ul> <h2 style='text-align: justify;'>PNB Housing Home Loan Statement</h2> To instantly access PNB Housing Provisional Certificate for Home Loan follow these steps: <ol style='text-align: justify;'> <li style='text-align: justify;'>Visit <a href='https://customerservice.pnbhousing.com/myportal/pnbhfllogin' rel='nofollow'>https://customerservice.pnbhousing.com/myportal/pnbhfllogin</a></li> <li>Click on IT Certificate</li> <li style='text-align: justify;'>Fill Loan Account, Type of Certificate and Financial Year &amp; Submit the form.</li> <li>You will instantly access the PNB Housing Home Loan Provisional Certificate. Download &amp; Save.</li> </ol> <h2 style='text-align: justify;'>Bajaj Finserv Home Loan Statement</h2> To download Bajaj Finserv Home Loan Certificate, sign in to customer portal or install Experia App on your smartphone. Submit loan account number &amp; other details for instant access to Bajaj Finserv Home Loan certificate. <h2 style='text-align: justify;'>IDBI Home Loan Provisional Interest Certificate</h2> To access IDBI Home Loan Statement, follow these steps: <ol style='text-align: justify;'> <li style='text-align: justify;'>Open form for IDBI Home Loan Statement here: <a href='https://webapps.idbibank.co.in/Easy_Access_LIVE/' rel='nofollow'>https://webapps.idbibank.co.in/Easy_Access_LIVE/</a></li> <li style='text-align: justify;'>Share customer ID, Loan Account Number, Date of Birth and PAN Number to access the loan statement &amp; submit the form.</li> <li>Only main applicant can access the information.</li> <li>You will instantly access IDBI Home Loan Statement.</li> </ol> <h2 style='text-align: justify;'>Kotak Bank Interest/ Tax Certificate for Home Loan</h2> To download Kotak Bank Home Loan Interest/ Tax Certificate follow these steps: <ol style='text-align: justify;'> <li style='text-align: justify;'>Visit <a href='https://www.kotak.com/en/help-center/loans--hl--pl--bl--lap--wc-/home-loan/interest---tax-certificate.html' rel='nofollow'>https://www.kotak.com/en/help-center/loans&#8211;hl&#8211;pl&#8211;bl&#8211;lap&#8211;wc-/home-loan/interest&#8212;tax-certificate.html</a></li> <li style='text-align: justify;'>Log in to new internet banking &amp; request the certificate.</li> <li style='text-align: justify;'>Alternatively write request here <a href='https://www.kotak.com/en/customer-service/contact-us/email-us/kotak-loan/home-loan.html' rel='nofollow'>https://www.kotak.com/en/customer-service/contact-us/email-us/kotak-loan/home-loan.html</a> and the bank will get back to you with response.</li> </ol> In this age most banks offer state of the art digital support to the customers. To download loan statement all you need to do is login to customers’ portal and request the tax certificate/ provisional interest certificate. Most institutions will require you to authenticate your identity and share loan account details only. The access to Home Loan Statement will be instant.   Also Read: <a href='https://www.mymoneymantra.com/blog/10-fees-and-charges-of-home-loan-you-must-know-about-before-applying/' target='_blank'>10 Fees &amp; Charges of Home Loan You Must Know about Before Applying</a>   To apply online for <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/' target='_blank'>Best Home Loan in India</a>, Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. 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A Home Loan Provisional Certificate is provided by your lender. It is a document that works as a legal proof of your Home Loan credit history and summaries details of Home Loan repayment, categorising interest and the principal amount repaid in the given financial year. <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/how-to-get-home-loan-interest-certificate-from-sbi-hdfc-and-other-banks/' data-a2a-title='How to Get Home Loan Interest Certificate from SBI, HDFC & Other Banks?'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-get-home-loan-interest-certificate-from-sbi-hdfc-and-other-banks%2F&amp;linkname=How%20to%20Get%20Home%20Loan%20Interest%20Certificate%20from%20SBI%2C%20HDFC%20%26%20Other%20Banks%3F' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-get-home-loan-interest-certificate-from-sbi-hdfc-and-other-banks%2F&amp;linkname=How%20to%20Get%20Home%20Loan%20Interest%20Certificate%20from%20SBI%2C%20HDFC%20%26%20Other%20Banks%3F' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-get-home-loan-interest-certificate-from-sbi-hdfc-and-other-banks%2F&amp;linkname=How%20to%20Get%20Home%20Loan%20Interest%20Certificate%20from%20SBI%2C%20HDFC%20%26%20Other%20Banks%3F' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-get-home-loan-interest-certificate-from-sbi-hdfc-and-other-banks%2F&amp;linkname=How%20to%20Get%20Home%20Loan%20Interest%20Certificate%20from%20SBI%2C%20HDFC%20%26%20Other%20Banks%3F' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-get-home-loan-interest-certificate-from-sbi-hdfc-and-other-banks%2F&amp;linkname=How%20to%20Get%20Home%20Loan%20Interest%20Certificate%20from%20SBI%2C%20HDFC%20%26%20Other%20Banks%3F' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-to-get-home-loan-interest-certificate-from-sbi-hdfc-and-other-banks%2F&amp;linkname=How%20to%20Get%20Home%20Loan%20Interest%20Certificate%20from%20SBI%2C%20HDFC%20%26%20Other%20Banks%3F' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Know the steps required to download Home Loan Provisional Interest Statement for ITR filing or application of a new loan for all banks & NBFCs here.

How to Get Home Loan Interest Certificate from SBI, HDFC & Other Banks?

<h1 style='text-align: justify;'>Eligibility of Home Loan Subsidy Under PMAY</h1> India is a developing nation which, unfortunately, implies that many people across the country are either homeless or live in dilapidated houses, thus leading below average quality of life. It is for this very reason that the nation saw the launch of a new ‘housing for all’ scheme &#8211; the <a href='https://www.mymoneymantra.com/blog/all-you-need-to-know-about-pradhan-mantri-awas-yojana-gramin/' target='_blank'>Pradhan Mantri Awas Yojana</a> or the PMAY as it is popularly known. The project aims to offer access to permanent homes (pucca houses) to the economically weaker section from both, rural as well as urban areas by providing them with financial assistance. This assistance is slated to be offered in the form of subsidised interest rates on Home Loans under the Credit-Linked Subsidy Scheme (CLSS) of the PMAY. The cost for the subsidised construction of the pucca houses, under this scheme, will be divided between the Central and the State Government, in the ratio of 60:40.   <a href='https://www.mymoneymantra.com/home-loan.html?ref=hlblog-topbanner' target='_blank'><img class='alignright size-full wp-image-4481' src='https://d1lt2ralzv8247.cloudfront.net/Home_Loan_826c400e00.jpg' alt='Apply for Best Home Loan Deal Online' srcset='https://d1lt2ralzv8247.cloudfront.net/Home_Loan_826c400e00.jpg 868w, https://www.mymoneymantra.com/blog/wp-content/uploads/2017/10/Home-Loan-300x35.jpg 300w, https://d1lt2ralzv8247.cloudfront.net/Home_Loan_768x88_a7bea6ac3e.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> <h2>Eligibility Criteria for PMAY</h2> If you are willing to enjoy the <a href='https://www.mymoneymantra.com/blog/is-home-loan-balance-transfer-eligible-for-pmay-subsidy/' target='_blank'>Pradhan Mantri Awas Yojana Subsidy</a>, you must fall into one of the following categories, and fulfil all the criteria pertaining to your household income, position in the economic spectrum, as well as housing needs mentioned hereunder. <h2>Economically Weaker Sections (EWS)</h2> To qualify under this segment, your annual household income must be a maximum of Rs. 3 Lakh. Besides, the carpet area of your house must not exceed 30 square metre or 323 square feet in size. Under this segment, you will be entitled to a Home Loan amount of up to Rs. 6 Lakh, on which you will be offered a subsidy of 6.5% on the interest rate. You can repay this loan amount in a period of up to 20 years. At the end of the repayment period, your age must be 70 years or less. <h2>Low-Income Groups (LIG)</h2> qualify under Low-Income Group, your annual household income must be between Rs. 3 Lakh to Rs. 6 Lakh. Besides, the carpet area of your house must be between 30 square metre (or 323 square feet)to 60 square metre (or 645 square feet). In this case, you will be entitled to a <a href='https://www.mymoneymantra.com/home-loan.html' target='_blank'>Home Loan</a> amount up to Rs. 6 Lakh, on which you will be offered a subsidy of 6.5% on the interest rate. You can repay this loan amount in a period of up to 20 years. At the end of the repayment period, your age must be 70 years or less.  <h2>Middle Income Group I (MIG I)</h2> To qualify under this segment, your annual household income must be between Rs. 6 Lakh to Rs. 12 lakh. Besides, the carpet area of your house must be 160 square metre or 1700 square feet or less. Under this category, you will be entitled to a Home Loan amount of up to Rs. 9 Lakh, with a subsidy of 4%. You can enjoy an extended repayment period of up to 30 years; however, at the end of the repayment period, your age must be 70 years or less. <h2>Middle Income Group II (MIG II)</h2> To qualify under Middle Income Group II, your annual household income must be between Rs. 12 Lakh and Rs. 18 Lakh. Besides, the carpet area of your house must be 200 square metre (or 2150 square feet) or less. Under this category, you will be entitled to a Home Loan amount of up to Rs. 12 Lakh, with a subsidy of 3%. You can enjoy an extended repayment period of up to 30 years; however, at the end of the repayment period, your age must be 70 years or less. In addition to the above-mentioned criteria, you must also adhere to the below-mentioned aspects in a bid to prove your eligibility for Loan Subsidy, under the Pradhan MantriAwasYojana. <ul> <li> You can only avail the subsidy under this scheme if you do not own any pucca house any other part of the nation. Besides, no member of your family must own a home in any part of India. In this case, a family denotes a husband, his wife and their unmarried son(s) and daughter(s), if any. </li> <li> You are only entitled to avail of this scheme if you have not availed any other housing scheme offered by the Central or the State government. </li> <li> If you are a senior citizen or qualify as a differently abled person, it is a must that your housing accommodation is situated on the ground floor. </li> <li> It is mandatory to make use of eco-friendly material for the construction of the property. </li> <li> You must register the property in the name of the female head of the household. Alternatively, you can register the same in the joint name of the female and male heads of the family. If there is no adult female in the family, only then can you register the property in the name of a male head. </li> </ul> Your monthly EMI must not exceed 50% of your monthly household income. To make sure this doesn’t come in the way of your loan, you should either opt for a longer tenure or a smaller loan amount. Also Read: <a href='https://www.mymoneymantra.com/blog/10-important-faqs-about-pradhan-mantri-awas-yojana-answered/' target='_blank'>10 Important FAQs About Pradhan Mantri Awas Yojana Answered</a> To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit <a href='https://www.mymoneymantra.com/' target='_blank'>www.mymoneymantra.com</a>, the leading online lending marketplace that offers financial products from 70+ Banks and NBFCs. 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Are you opt for Home Loan, are you still eligible for Pradhan Mantri Awas Yojana Subsidy? Read here to know the eligibility.

Are You Eligible For Home Loan Subsidy Under The Pradhan Mantri Awas Yojana?

Omni Channel Content Specialist| enthusiastic personal finance writer | Top50 CM professional by WMC, CMO

Reshma Rawat

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<h1 style='text-align: justify;'>Loan against Sukanya Samriddhi Yojana</h1> In the times of crisis one often looks for less expensive loan options such as low cost secured loans against pre-owned car, fixed deposits, gold etc. In case you are searching for Loan against Sukanya Samriddhi Account, you must clearly know that you can not avail of loan against Sukanya Scheme. Only partial pre mature withdrawals are allowed, that too for either wedding or higher education of the girl child. Sukanya Samridhi should strictly be used for child’s welfare and future. You should refrain from withdrawing cash from the account for any other purpose. Whether you are finding it difficult to deposit annually in the SSY or have doubts about continuing this investment option, here is your guide to frequently asked questions on Indian government’s flagship scheme under Beti Bachao, Beti Padhao campaign. <a href='https://www.mymoneymantra.com/sbi-sukanya-samriddhi-yojana.html' target='_blank'>Sukanya Samridhi Scheme</a> is one of the highest yielding saving schemes and should be certainly used for the benefit of your girl child. <h2 style='text-align: justify;'>Sukanya Samriddhi Yojana: The Scheme Highlights</h2> <ul style='padding-left: 20px;'> <li style='text-align: justify;'>Sukanya Samridhi Account is a government backed saving scheme for a girl child.</li> <li style='text-align: justify;'>Currently the scheme yields 7.6% p.a.</li> <li style='text-align: justify;'>SSY account can be opened till the child turns 10 years. One year of grace is provided for this limit.</li> <li style='text-align: justify;'>A parent can open only one account for a girl child.</li> <li style='text-align: justify;'>The account can be opened in a Post office or any of the designated branches of authorised banks.</li> <li style='text-align: justify;'>The parent is required to submit birth certificate of the girl child to open SSY account.</li> <li style='text-align: justify;'>The minimum FY contribution should be Rs. 250/- and the maximum of Rs. 1,50,000/- in a financial year.</li> <li style='text-align: justify;'>Interest rate varies as notified by the government from time to time. It is calculated on yearly compounded basis.</li> <li style='text-align: justify;'>Single premature withdrawal for up to 50% is allowed on attaining the age of 18 years.</li> <li style='text-align: justify;'>The account can be transferred across India.</li> <li style='text-align: justify;'>The account matures on completion of 21 years.</li> </ul> <table class='table-bordered table'> <tbody> <tr> <td style='text-align: center; background-color: #8bc541;' colspan='4' width='621'>Sukanya Samriddhi Yojana- Deposit Limit &amp; Interest Rates(From 2015 till present date)</td> </tr> <tr> <td width='223'> Applicable time range </td> <td width='79'> Interest Rate </td> <td width='131'> Minimum Investment (in Rs) </td> <td width='133'> Maximum Investment (in Rs) </td> </tr> <tr> <td width='223'> 1 April 2014 to 31 March 2015 </td> <td width='79'> 9.10% </td> <td width='131'> 1,000 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 April 2015 to 31 March 2016 </td> <td width='79'> 9.20% </td> <td width='131'> 1,000 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 April 2016 to 30 Sep 2016 </td> <td width='79'> 8.60% </td> <td width='131'> 1,000 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 Oct 2016 to 31 Mar 2017 </td> <td width='79'> 8.50% </td> <td width='131'> 1,000 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 April 2017 to 30 June 2017 </td> <td width='79'> 8.40% </td> <td width='131'> 1,000 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 July 2017 to 31 December 2017 </td> <td width='79'> 8.30% </td> <td width='131'> 1,000 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 January 2018 to 31 March 2018 </td> <td width='79'> 8.10% </td> <td width='131'> 1,000 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 April 2018 to 30 September 2018 </td> <td width='79'> 8.10% </td> <td width='131'> 250 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 October 2018 to 31 March 2019 </td> <td width='79'> 8.50% </td> <td width='131'> 250 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 April 2019 to 30 June 2019 </td> <td width='79'> 8.50% </td> <td width='131'> 250 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 July 2019 to 31 March 2020 </td> <td width='79'> 8.40% </td> <td width='131'> 250 </td> <td width='133'> 1,50,000 </td> </tr> <tr> <td width='223'> 1 April 2020 to 31 March 2021 </td> <td width='79'> 7.60% </td> <td width='131'> 250 </td> <td width='133'> 1,50,000 </td> </tr> </tbody> </table> <a href='https://www.mymoneymantra.com/home-loan/kotak-mahindra-bank.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12160' src='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg' alt='Lowest Home Loan Interest Rates on Kotak Mahindra Bank' srcset='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> <h2 style='text-align: justify;'>What is minimum/ maximum limit for deposits in Sukanya Account?</h2> Each year you need to deposit at least Rs 250 to keep the Sukanya Samrishi Account. The maximum limit is capped at Rs 1.5 lakh for a financial year. The lock-in period for the account is 21 years and deposits need to be made till completion of 15 years. However, premature withdrawal for higher education is allowed once the child turns 18 years. The proof for clearance of class X will be required for such withdrawal. <h2 style='text-align: justify;'>Are multiple deposits allowed in Sukanya Yojana Account in a FY?</h2> The deposit frequency can be as per your choice. The maximum limit is capped at Rs 1.5 Lakh for a financial year. The first minimum contribution in a FY should be Rs 250 followed by amounts in multiple of Rs 100. The child can manage the account after 10 years of age. <h2 style='text-align: justify;'>What happens when I miss depositing in Sukanya Yojana in a FY?</h2> A fee of Rs 50 is applied if you discontinue deposits before the 15 years. Also the account turns in to a &#8216;Default Account,&#8217; yet interest as applicable will continue to yield. <h2 style='text-align: justify;'>How do I close Sukanya samriddhi Account?</h2> A parent can close the Sukanya Samriddhi Account prematurely for many reasons such as marriage, change in citizenship, country of residence etc. The account should be maintained at least for 5 years before making any such request. Pre-mature closure is also allowed in case of death of the account holder or when the account holder is suffering from a life threatening disease. <h2 style='text-align: justify;'>Is Sukanya samriddhi maturity tax free?</h2> Yes, deposits in Sukanya Yojana make you eligible for deductions under Section 80C with a maximum capping of Rs 1.5 lakh. The interest income is tax free and continues to accrue &amp; compounded annually. The withdrawals are also tax exempted. <h2 style='text-align: justify;'>Can I withdraw prematurely from Sukanya Samriddhi Account?</h2> Yes, you can withdraw partially form Sukanya Samriddhi Account for up to 50% of the total savings for purpose of marriage or higher education of the girl child. For higher education, proof for successful matriculation is required. Also, the child girl should be 18 years for this withdrawal. The total duration of Sukanya Yojna is 21 years. The amount can be withdrawal fully after the maturity or held as is to continue earning interest on the balance. Also Read: <a href='https://www.mymoneymantra.com/blog/post-office-recurring-deposit-interest-rates-in-2021/' target='_blank'>Post Office Recurring Deposit Scheme Interest Rates in 2021</a> To apply online for <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/' target='_blank'>Best Home Loan in India</a>, Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 7 million+ happy customers since 1989. <a href='https://www.mymoneymantra.com/home-loan.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12158' src='https://d1lt2ralzv8247.cloudfront.net/Home_Loan_Festival_offers_2_1_24d3e33e42.jpg' alt='Home Loan Festival Offers' srcset='https://d1lt2ralzv8247.cloudfront.net/Home_Loan_Festival_offers_2_1_24d3e33e42.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/10/Home-Loan-Festival-offers_2-1-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/10/Home-Loan-Festival-offers_2-1-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> <style type='text/css'> .home-content table p { padding: 0 !important; } @media only screen and (max-device-width: 768px) { .home-content .table-wrap { overflow-x: scroll; } .table-responsive>.table>thead>tr>td, .table-responsive>.table>tbody>tr>td, .table-responsive>.table>tfoot>tr>td { white-space: initial; } } </style> <script type='text/javascript'> $(document).ready(function () { $('.home-content .table').addClass('table-condensed'); $('.home-content .table').wrap($(' <div class='table-wrap'></div> ')); }); </script> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/can-i-get-loan-against-sukanya-samriddhi-yojana-know-rules/' data-a2a-title='Can I Get Loan against Sukanya Samriddhi Yojana? 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In the times of crisis one often looks for less expensive loan options such as low cost secured loans against pre-owned car, fixed deposits, gold etc. In case you are searching for Loan against Sukanya Samriddhi Account, you must clearly know that you can not avail of loan against Sukanya Scheme. <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/can-i-get-loan-against-sukanya-samriddhi-yojana-know-rules/' data-a2a-title='Can I Get Loan against Sukanya Samriddhi Yojana? Know Rules'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcan-i-get-loan-against-sukanya-samriddhi-yojana-know-rules%2F&amp;linkname=Can%20I%20Get%20Loan%20against%20Sukanya%20Samriddhi%20Yojana%3F%20Know%20Rules' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcan-i-get-loan-against-sukanya-samriddhi-yojana-know-rules%2F&amp;linkname=Can%20I%20Get%20Loan%20against%20Sukanya%20Samriddhi%20Yojana%3F%20Know%20Rules' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcan-i-get-loan-against-sukanya-samriddhi-yojana-know-rules%2F&amp;linkname=Can%20I%20Get%20Loan%20against%20Sukanya%20Samriddhi%20Yojana%3F%20Know%20Rules' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcan-i-get-loan-against-sukanya-samriddhi-yojana-know-rules%2F&amp;linkname=Can%20I%20Get%20Loan%20against%20Sukanya%20Samriddhi%20Yojana%3F%20Know%20Rules' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcan-i-get-loan-against-sukanya-samriddhi-yojana-know-rules%2F&amp;linkname=Can%20I%20Get%20Loan%20against%20Sukanya%20Samriddhi%20Yojana%3F%20Know%20Rules' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fcan-i-get-loan-against-sukanya-samriddhi-yojana-know-rules%2F&amp;linkname=Can%20I%20Get%20Loan%20against%20Sukanya%20Samriddhi%20Yojana%3F%20Know%20Rules' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Do you want to withdraw the amount in Sukanya Samriddhi Account or leverage it for a bank loan? Here are Sukanya rules to help you make most of this saving scheme.

Can I Get Loan against Sukanya Samriddhi Yojana? Know Rules

How long have you been living in a rented house in the city? Tired of shifting your belongings from house to house? Why not buy your own dream home when banks are ready to give you Home Loan? <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/' data-a2a-title='10 Best Home Loan Interest Rates in India'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-best-home-loans-in-india%2F&amp;linkname=10%20Best%20Home%20Loan%20Interest%20Rates%20in%20India' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-best-home-loans-in-india%2F&amp;linkname=10%20Best%20Home%20Loan%20Interest%20Rates%20in%20India' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-best-home-loans-in-india%2F&amp;linkname=10%20Best%20Home%20Loan%20Interest%20Rates%20in%20India' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-best-home-loans-in-india%2F&amp;linkname=10%20Best%20Home%20Loan%20Interest%20Rates%20in%20India' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-best-home-loans-in-india%2F&amp;linkname=10%20Best%20Home%20Loan%20Interest%20Rates%20in%20India' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2F5-best-home-loans-in-india%2F&amp;linkname=10%20Best%20Home%20Loan%20Interest%20Rates%20in%20India' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Top 10 Banks for Home Loan in India. Check ✓Lowest Interest Rates, ✓Processing fee, ✓Minimum EMI, ✓Home Loan Tenure, ✓Eligibility and the best offers for 2021.

10 Best Home Loan in India | Lowest Interest Rates @ 6.75%

Thumbs up to Budget 2021 for boosting affordable housing. MyMoneyMantra brings an exclusive Post Budget Guide for new Home Loan aspirants. Real estate was already facing doldrums due to large scale unsold inventory and COVID19 worsened the crisis. However, RBI &amp; GOI eased liquidity in banks to improve the credit flow among the customers. Continuing benefits for Home Loan buyers Finance Mister N Sitharaman has extended duration for additional tax deduction of Rs 1.5 Lakh for affordable homes costing up to Rs 45 Lakh in the Budget 2021. Furthermore, the FM has granted one year tax holiday to builders of affordable housing and also offered tax exemption for affordable rental projects to cater housing needs of migrant workers. Overall these steps will address a large base of housing customers and thus push the growth of housing &amp; construction work in the economy. FM said in the Budget Speech: In order to incentivise purchase of affordable house, it is proposed to extend the eligibility period for claim of additional deduction for interest of Rs 1.5 lakh paid for loan taken for purchase of an affordable house to 31st March 2022. In order to increase the supply of affordable house, it is proposed to extend eligibility period for claiming tax holiday for affordable housing project by one more year to 31st March, 2022. In order to promote supply of Affordable Rental Housing for the migrant workers, it is also proposed to allow a new tax exemption for the notified Affordable Rental Housing Projects. Let’s understand the extent of these benefits announced in budget 2021 on your home buying &amp; renting decision. <h2 style='text-align: justify;'>Affordable Housing Scheme Extended till March 31, 2022</h2> The government has already announced extension of credit link subsidy under PMAY affordable housing scheme till March 21, 2022. Thus a first time home buyer can avail Home Loan for affordable unit at a subsidised <a href='https://www.mymoneymantra.com/home-loan-interest-rates.html' target='_blank'>Home Loan Interest Rate</a>! The scheme has been extended till next year for low income group &amp; economically weaker section. It is Indian’s government’s pilot project ‘Housing for all by 2022.’ <h2 style='text-align: justify;'>Additional Income-Tax Deduction of Rs 1.5 lakh for FY 2021-22</h2> By extending additional rebate on Rs 1.5 Lakh on Home Loan Interest payment in the Union budget-2021, FM has offered more cash in the hands of new Home Loan borrowers. Thus fresh Home Loans for residential units costing less than Rs 45 Lakh will avail total of Rs 3.5 Lakh deduction on Home Loan interest payment. Borrowers will also be able to enjoy Rs 1.5 Lakh deduction for principal payment under section 80C. <h2 style='text-align: justify;'>Tax Holiday for Real Estate Developers on Affordable Housing Projects</h2> Budget 2021 has set up the right drivers for growth. With one year tax holiday for real estate developers on affordable housing projects, chances are high for further correction in real estate prices. Thus, if you are planning to buy first residential property and <a href='https://www.mymoneymantra.com/home-loan.html'>Apply for Home Loan</a>, you can save more in your pocket up till 31-March-2022. <h2 style='text-align: justify;'>Tax Holiday for Developers Engaged in Affordable Rental Homes</h2> The FM has also extended tax holiday of one year to real estate developers for building affordable rental homes. This again will boost the supply of small &amp; affordable homes. The increased supply will rationalise property prices and rentals, thereby ensuring more saving for retail buyers. In all, budget 2021 has clearly made conducive sentiment for purchase of property.  The reduced rentals will help migrant labourers and work force avail of cheaper residential units on rent. <h2 style='text-align: justify;'>Reduction in Basic Customs Duty on Steel and Iron</h2> The Budget 2021 has rationalised and reset custom duty on a large scale. With reduction in custom duty of Steel and Iron, you can further expect reduction in price of construction costs. The stamp duty of iron/ steel scrap has been made NIL from 2.5 % and that of steel has been drastically reduced from 10/ 12.5 % to 7.5%. Further the government of India has eased capital gains tax implications for developers and thus extended more relief to developers. The lowered cost of production will gradually be passed on to the property buyers. <h2 style='text-align: justify;'>Final Words</h2> In all, real estate contributes to 8% to GDP. The growth of many other sectors is directly and indirectly aligned with the growth of real estate sector. By turning on the wheel of real estate segment, government aims to turn on growth wheel for all multiple related sectors, thereby reviving the economy swiftly after the unprecedented pandemic shocks of 2020. Right steps for Atmanirbhar and Stronger Bharat in 2021! <a href='https://www.mymoneymantra.com/home-loan/kotak-mahindra-bank.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12160' src='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg' alt='Lowest Home Loan Interest Rates on Kotak Mahindra Bank' srcset='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/how-budget-2021-helps-your-home-buying-and-renting-decision/' data-a2a-title='How Budget 2021 Helps Your Home Buying & Renting Decision?'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

Thumbs up to Budget 2021 for boosting affordable housing. MyMoneyMantra brings an exclusive Post Budget Guide for new Home Loan aspirants. <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/how-budget-2021-helps-your-home-buying-and-renting-decision/' data-a2a-title='How Budget 2021 Helps Your Home Buying & Renting Decision?'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhow-budget-2021-helps-your-home-buying-and-renting-decision%2F&amp;linkname=How%20Budget%202021%20Helps%20Your%20Home%20Buying%20%26%20Renting%20Decision%3F' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Budget 2021 has good news for home buyers & developers. Let’s find out, how FM has assured low home loan rates & affordable houses till March 31, 2022.

How Budget 2021 Helps Your Home Buying & Renting Decision?

With the rising prices of residential properties across India, the dream of becoming a homeowner seemed like a distant reality for a common man. This is why the government of India took the initiative and incorporated several measures to make purchasing a residential property affordable for everyone. One of the biggest steps in this direction was the introduction of the <a href='https://www.mymoneymantra.com/blog/are-you-eligible-for-home-loan-subsidy-under-the-pradhan-mantri-awas-yojana/' target='_blank'>Home Loan Subsidy</a> in the form of Pradhan Mantri Awas Yojana 2021. <h2>About Pradhan Mantri Awas Yojana</h2> Pradhan Mantri Awas Yojana (PMAY) is a scheme launched by the Government of India to bring about positive disruption in the real estate sector by improving the affordability of houses. The aim of this scheme is to achieve the goal of “Housing for All” by March 31st, 2022. The government plans to fulfil this target by constructing 20 million houses across our country, thereby achieving many sustainable development goals and empowering all Indians financially. <a href='https://www.mymoneymantra.com/home-loan/kotak-mahindra-bank.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12160' src='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg' alt='Lowest Home Loan Interest Rates on Kotak Mahindra Bank' srcset='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> The scheme has four components- In-situ slum redevelopment with private sector participation, affordable housing through credit-linked subsidy scheme, affordable housing in partnership with the private and public sector, beneficiary led house construction/ enhancement. The central government promises assistance of Rs. 1,00,000 to Rs. 2,30,000 for the same. <h2>1. Pradhan Mantri Awas Yojana Urban (PMAY-U)</h2> This scheme covers about 431 towns and cities. It houses the urban development authority, special area development authority, notified planning, industrial development authority etc. and the other authorities who are responsible for urban planning. It has been following a three-phase process: <ol> <li>Covering 100 cities between April 2015 and March 2017</li> <li>Covering 200 additional cities between April 2017 and March 2019</li> <li>Covering the remaining cities between April 2019 and March 2022</li> </ol> <h2>2. Pradhan Mantri Awas Yojana Gramin (PMAY-G)</h2> It was originally known as the Indira Awas Yojana. It is aimed at promoting accessibility and affordability of housing for all people in rural areas. The objective is to provide financial assistance to the homeless and those residing in unfit houses. In an attempt to boost the purchases in the real estate sector, the Government launched PMAY, and this cost of this housing development will be shared between the Central and State Government. According to the Pradhan Mantri Awas Yojana, middle-class individuals are eligible for a subsidy on the interest of 3 percent to 4 percent on the Home Loan EMIs. Now you must be wondering how you can avail this Housing Loan subsidy. Will you be eligible for the subsidy? How can you apply for the scheme and get a Home Loan? Read on to know more. <h2>Eligibility Criteria</h2> These Home Loan subsidies fall under the Credit Linked Subsidy Scheme (CLSS) and allow the applicant to use the benefit of the subsidies on the <a href='https://www.mymoneymantra.com/home-loan-interest-rates.html' target='_blank'>Home Loan Interest Rates </a>basis the applicant’s eligibility. The conditions for the same are: <ol> <li>This should be the applicant’s first house.</li> <li>The applicant shouldn’t have already used a government housing scheme before.</li> <li>The carpet area should be between 645 sq. feet and 2150 sq. feet depending on the income.</li> <li>The applicant must fall under one of the following annual income ranges:</li> </ol> <ul> <li>Economically Weaker Sections (EWS)- up to Rs. 3 Lakh</li> <li>Low Income Groups (LIG)- between Rs 3 Lakh and Rs 6 Lakh</li> <li>Middle Income Groups-I (MIG)- between Rs 6 Lakh and Rs 12 Lakh</li> <li>Middle Income Groups-II- between Rs 12 Lakh and Rs 18 Lakh</li> </ul> <h2>Economically Weaker Sections and Low Income Groups</h2> Applicants who come under EWS &amp; LIG categories are given an interest subsidy of 6.5 per cent on a Home Loan up to Rs. 6 Lakh. The government has increased the time for repayment from 15 years to 20 years for these segments. The carpet area for people under EWS is allotted as 322 sq. feet while for LIG it is 645 sq. feet.  <h3>Middle Income Groups-I</h3> Applicants under the category MIG-I can avail a Home Loan interest subsidy of 4%, on loans up to Rs. 9 Lakh. The time of repayment is a maximum of 20 years. The carpet area allotted is 1722 sq. feet.  <h3>Middle Income Groups-II</h3> Applicants under the category MIG-II can avail a Home Loan interest subsidy of 3%, on loans up to Rs. 12 Lakh. The time of repayment is a maximum of 20 years. The carpet area allotted is 2152 sq. feet.  <h3>SPECIAL PREFERENCES</h3> Some categories are given special preferences under this scheme. <ol> <li>Single working women</li> <li>Widows</li> <li>Differently-abled persons</li> <li>Transgenders</li> <li>Scheduled Castes and Scheduled tribes</li> <li>Senior Citizens</li> </ol> <h2>How to apply?</h2> The application process is simple and easily accessible. It is user-friendly. Step 1: <a href='https://www.mymoneymantra.com/home-loan.html' target='_blank'>Apply for a Home Loan</a> with an eligible financial institution for your requirement with a subsidy. Step 2: Go to the official website of the Pradhan Mantri Awas Yojana and download the subsidy scheme application form. Step 3: Take a printout and fill the details with correct information. Step 4: Submit the duly filled form and the required documents to an office accepting them nearby. Step 5: If you are deemed eligible, your application will be sent to CAN, and they will send the subsidy amount to the lender. Step 6: This subsidy amount will be added to your Home Loan account. This will reduce the loan amount required by you, thereby making the EMIs more affordable. The existing beneficiaries of this Yojana will get the money in their Bank Accounts directly because of the Direct Benefit Transfer (DBT) program. It will be transferred in instalments, and this eliminates the need of going to banks to receive money. The key features of the Pradhan Mantri Awas Yojana are: <ul> <li>Home Loans will be offered at rates of 6.5% p.a with repayment tenure of 20 years</li> <li>As a benefit, senior citizens and differently-abled persons will be provided with houses on the ground floor for convenience.</li> <li>Eco-friendly and technology that focuses on sustainability will be used for construction.</li> </ul> With this handy information you can apply for a Home Loan subsidy in a hassle-free and convenient manner and realise your dream of becoming a homeowner soon. Also Read: <a href='https://www.mymoneymantra.com/blog/is-home-loan-balance-transfer-eligible-for-pmay-subsidy/' target='_blank'>Is Home Loan Balance Transfer Eligible for PMAY Subsidy?</a> To apply online for <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/'>Best Home Loan in India</a>,  Secured Loans and Unsecured Loans, visit MyMoneyMantra, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. 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With the rising prices of residential properties across India, the dream of becoming a homeowner seemed like a distant reality for a common man. <div class='addtoany_share_save_container addtoany_content_bottom'><div class='a2a_kit a2a_kit_size_32 addtoany_list' data-a2a-url='https://www.mymoneymantra.com/blog/here-is-a-checklist-for-home-loan-subsidy-2019/' data-a2a-title='Here is a Checklist for Home Loan Subsidy 2021'><a class='a2a_button_facebook' href='https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhere-is-a-checklist-for-home-loan-subsidy-2019%2F&amp;linkname=Here%20is%20a%20Checklist%20for%20Home%20Loan%20Subsidy%202021' title='Facebook' rel='nofollow' target='_blank'></a><a class='a2a_button_twitter' href='https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhere-is-a-checklist-for-home-loan-subsidy-2019%2F&amp;linkname=Here%20is%20a%20Checklist%20for%20Home%20Loan%20Subsidy%202021' title='Twitter' rel='nofollow' target='_blank'></a><a class='a2a_button_linkedin' href='https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhere-is-a-checklist-for-home-loan-subsidy-2019%2F&amp;linkname=Here%20is%20a%20Checklist%20for%20Home%20Loan%20Subsidy%202021' title='LinkedIn' rel='nofollow' target='_blank'></a><a class='a2a_button_whatsapp' href='https://www.addtoany.com/add_to/whatsapp?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhere-is-a-checklist-for-home-loan-subsidy-2019%2F&amp;linkname=Here%20is%20a%20Checklist%20for%20Home%20Loan%20Subsidy%202021' title='WhatsApp' rel='nofollow' target='_blank'></a><a class='a2a_button_wechat' href='https://www.addtoany.com/add_to/wechat?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhere-is-a-checklist-for-home-loan-subsidy-2019%2F&amp;linkname=Here%20is%20a%20Checklist%20for%20Home%20Loan%20Subsidy%202021' title='WeChat' rel='nofollow' target='_blank'></a><a class='a2a_button_pinterest' href='https://www.addtoany.com/add_to/pinterest?linkurl=https%3A%2F%2Fwww.mymoneymantra.com%2Fblog%2Fhere-is-a-checklist-for-home-loan-subsidy-2019%2F&amp;linkname=Here%20is%20a%20Checklist%20for%20Home%20Loan%20Subsidy%202021' title='Pinterest' rel='nofollow' target='_blank'></a></div></div>

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Home Loan Subsidy 2021. ✔Check Housing Loan Eligibility ✔Low Processing Fees, ✔Tenure 30 Years, ✔769 EMI Per Lakh, ✔Apply now.

Here is a Checklist for Home Loan Subsidy 2021

There is a famous saying, “Home is where the heart is,&#8221; and it holds true even in the present times where individuals spend a major part of their life savings on buying and decorating their dream home. With time, the construction of the house can start showing signs of damages, or you might wish to undertake a significant renovation project. There could be no better occasion than the beginning of the new year for this. However, the cost of construction and renovation has skyrocketed. The lack of funds might deter you from committing to an expensive renovation project. This is where a <a href='https://www.mymoneymantra.com/home-loan.html' target='_blank'>Home Improvement Loan</a> can be a suitable option for you. Many financial institutions now offer Home Improvement Loans for their customers’ requirements at attractive interest rates. <a href='https://www.mymoneymantra.com/home-loan/kotak-mahindra-bank.html?utm_source=google&amp;utm_medium=organic' target='_blank'><img class='alignnone size-full wp-image-12160' src='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg' alt='Lowest Home Loan Interest Rates on Kotak Mahindra Bank' srcset='https://d1lt2ralzv8247.cloudfront.net/Kotak_Mahindra_Bank_Home_Loan_54d3d11ac5.jpg 906w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-300x79.jpg 300w, https://www.mymoneymantra.com/blog/wp-content/uploads/2020/11/Kotak-Mahindra-Bank-Home-Loan-768x202.jpg 768w' sizes='(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px' /></a> <h3>Which are the best Home Improvement Loans for 2021?</h3> Here is a list of top Home Improvement Loan offers, which you can consider for your home renovation or home extension project. <h2>Tata Capital Home Renovation Loan: </h2> Tata Capital is a leading NBFC of India that offers high-value Home Improvement Loans for its customers. It is an unsecured offering, i.e., you need not provide any collateral to secure the loan amount. The loan amount available starts from Rs. 75,000 and can go up to Rs. 25 Lakhs. The repayment tenor offered by the company varies between 12 months to 72 months, and the rate of interest starts from 10.99% per annum. The one-time processing fee levied by the company is 2% of the loan amount plus GST. If you wish to foreclose the loan, Tata Capital levies a foreclosure fee of 2% of the outstanding principal plus GST. To reduce the burden on your finances, the company also offers flexible repayment options that allow you to choose your EMI payments based on your comfort and convenience. <h2>HDFC Home Improvement Loan: </h2> HDFC is the most prominent private-sector financial institution in India. The maximum amount available as a <a href='https://www.mymoneymantra.com/home-loan/hdfc-ltd.html' target='_blank'>Home Improvement Loan from HDFC Bank</a> can go up to 100% of the improvement estimate for existing HDFC customers, subject to the condition that the total loan amount does not exceed 90% of the market value of the property. The maximum amount available for new customers can go up to 90% of the improvement estimate. HDFC Bank offers maximum repayment tenor of up to 15 years for the Home Improvement Loan. Interest rates for female applicants start from 8% per annum, and for other applicants, it starts from 8.25% per annum. The processing charges for a Home Improvement Loan from HDFC Bank are 0.50% of the loan amount or Rs. 3,000 (whichever is higher). There are no charges levied on pre-payment and foreclosure by HDFC Bank. <h2> Bajaj Finserv Home Renovation Loan:</h2> Being a leading private sector lending institution, Bajaj Finserv offers Home Renovation Loans up to Rs 25 Lakhs for its customers. This is an unsecured offering; hence, no need to provide collateral to secure the loan amount. The repayment period available varies from 24 months to 60 months. <a href='https://www.mymoneymantra.com/bajaj-finserv/home-loan-interest-rates.html' target='_blank'>Bajaj Finserv Home Renovation Loan Interest Rates</a> start from 12.99% onwards, with the processing fee being 4.13% of the loan amount plus GST. If you wish to foreclose the Bajaj Finserv Home Renovation Loan, the company levies a foreclosure fee of 4% of the outstanding principal amount plus GST. The biggest advantage is the Bajaj Finserv Flexi Personal Loan facility, wherein you only need to pay interest on the amount utilized from the allocated fund. <h2>Bank of Baroda Home Improvement Loan: </h2> Bank of Baroda is a premier public sector bank in India that offers various types of loans for its customers, including Home Improvement Loans. The maximum amount available as a <a href='https://www.mymoneymantra.com/home-loan/bank-of-baroda.html' target='_blank'>Bank of Baroda Home Improvement Loan</a> is Rs. 10 crores in Mumbai, Rs 5 crores in other metro cities, and Rs 1 crore in semi-urban and non-metro centers. The maximum repayment tenor available can extend to 30 years, including a moratorium period of 36 months. Interest rates levied by the bank starting from 9% per annum with the processing charges varying between 0.25% to 0.50% (min. Rs. 8.500 and maximum Rs. 25,000). In case you wish to foreclose your loan account, there are no foreclosure charges payable to the bank. Bank of Baroda also offers a group credit life insurance cover, wherein the insurance company will reimburse the bank in the event of the death of the borrower, and the survivors need not pay anything. <h2>Canara Bank Home Improvement Loan:</h2> Canara Bank is a leading Indian Public Sector Bank that offers Home Improvement Loans up to Rs 2 Lakhs for its customers. The maximum repayment period offered by Canara Bank is 60 months, with the effective interest rates starting from 8.10% and going up to 10% per annum. The processing charges levied by the bank are 0.5% of the loan amount subject to a maximum of Rs. 10,000 and a minimum of Rs. 1,500. To avail of this loan, you must have <a href='https://www.mymoneymantra.com/home-loan/canara-bank.html' target='_blank'>Availed a Home Loan from Canara Bank</a> as the bank offers this facility by extending mortgage against the hypothecated property. <h2>IIFL:</h2> IIFL is a well-known private-sector financial institution that offers home improvement loans for its customers. The maximum amount available depends on the value of the property and the eligibility of the borrower. The interest rates for <a href='https://www.mymoneymantra.com/home-loan/iifl.html' target='_blank'>IIFL Home Renovation Loan</a> start from 8.70% per annum. The maximum repayment tenor available can go up to 20 years, with the processing fees being up to 1.75% of the loan amount. If you wish to foreclose your Home Improvement Loan account, the company does not levy any charges on pre-payment or foreclosure. These are some of the <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/' target='_blank'>Best Home Improvement Loans Available in India</a> in 2021, which you can consider for your requirements. But be a diligent borrower and borrow only as much amount which you require so that repayment is easy to manage, thereby causing only happiness in your life with a refurbished home and beautiful surroundings. Also Read: <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/' target='_blank'>Top 10 Best Home Loan Interest Rates in India</a> To apply online for <a href='https://www.mymoneymantra.com/blog/5-best-home-loans-in-india/'>Best Home Loan in India</a>, Personal Loan, Credit Card, Business Loan &amp; LAP visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. 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