Home Loan

A home loan, also known as a housing loan or mortgage, is a type of secured loan where the borrower receives funds from a lender to buy, build, or renovate a residential property. The borrower agrees to repay the loan amount in regular installments, typically over a long tenure ranging from 10 to 30 years. The property itself acts as collateral until the loan is fully repaid.

Home loans often come with competitive interest rates, tax benefits, and flexible repayment options. They are commonly used by individuals and families looking to invest in their own home without needing the full purchase amount upfront. Different loan plans may be available based on income, creditworthiness, and property value.