Empowering your journey to financial success
with every milestone achieved.
Home Loan
National Pension System (NPS)
Comprehensive Overview
A Home Loan is a secured loan provided by banks, housing finance companies (HFCs), or other financial institutions to individuals for purchasing, constructing, or renovating a residential property. In India, it is one of the most popular forms of borrowing, as it helps people achieve their goal of homeownership by spreading the cost over manageable monthly installments (EMIs).
Key Features of Home Loans
Purpose
- Purchase: Buying a ready-to-move-in property or under-construction property.
- Construction: Building a house on a plot owned by the borrower.
- Renovation/Extension: Financing repairs, upgrades, or adding extra space to an existing property.
- Land Purchase: Buying a plot of land for future construction.
Loan Amount
- Generally up to 75%–90% of the property’s value, depending on the loan amount and borrower’s eligibility.
Interest Rates
- Fixed Rate: The interest remains constant throughout the loan tenure.
- Floating Rate: The interest rate varies based on the lender’s benchmark rates (e.g., RBI’s repo rate).
Repayment Tenure
- Typically ranges from 5 to 30 years, depending on the borrower’s age, income, and repayment capacity.
EMI Structure
- Borrowers repay the loan in Equated Monthly Installments (EMIs), which include both principal and interest components.
Security / Collateral
- The property purchased or constructed is mortgaged with the lender as collateral until the loan is fully repaid.
Tax Benefits
- Under Section 80C: Deduction of up to ₹1.5 lakh on principal repayment.
- Under Section 24(b): Deduction of up to ₹2 lakh on interest paid (for a self-occupied property).
- Additional benefits for affordable housing loans under Section 80EE and Section 80EEA.
Eligibility Criteria for Home Loans
- Age: Typically between 18 and 65 years.
- Income: Stable income source (salaried or self-employed).
- Credit Score: A good credit score (typically 750+) improves approval chances.
- Employment History: Consistent employment or business track record.
- Property Documents: Clear legal title of the property being purchased or constructed.
How to Apply for a Home Loan
Visit our Office personally along with all the documents and details of the Home & other information.
Or
Send your location and details along with Home Loan documents via softcopy (If possible). We will visit to your location as per your availability and will do the needful.
Withdrawals and Exit Rules
Before Retirement
(Premature Exit)
- Allowed only after 5 years
of joining. - 20% of the corpus can be withdrawn as a lump sum; the remaining 80% must be used to purchase an annuity.
At Retirement (After 60 Years)
- Up to 60% of the corpus can be withdrawn tax-free as a lump sum.
- The remaining 40% must be used to buy an annuity to ensure regular income post-retirement.
Partial Withdrawals
- Allowed for specific purposes (e.g., higher education, marriage, medical emergencies) after 3 years of subscription.
- Limited to 25% of the subscriber's contributions.
Key Benefits
Retirement Security
Provides a steady income stream post-retirement.
Cost-Effective
One of the lowest fund management charges compared to other investment options.
Flexibility
Subscribers can switch between fund managers and investment options.
Transparency
Regulated by the Pension Fund Regulatory and Development Authority (PFRDA), ensuring safety and transparency.
Tax Efficiency
Multiple tax benefits make it an attractive retirement investment tool.
How to Open an NPS Account
- Visit a Point of Presence (PoP), such as banks and other designated entities, and submit the filled NPS application form along with KYC documents.
- Register via the eNPS portal (https://enps.nsdl.com).
- Use Aadhaar or PAN for verification and link it to your bank account.
Start Investing Wisely
"Home is where the heart is, and a home loan helps you make it your own."
Our Company
Product & Services
Quick Links
AMFI Registered Mutual Fund Distributor | ARN- 265639
Disclaimer:– Mutual fund investments are subject to market risks. Please read the scheme information and other scheme related documents carefully before investing. Past performance is not indicative of future returns and future performance. Always Consider your specific investment requirements before choosing a fund, or designing a portfolio allocation that suits your needs. Investments in equity shares, debentures, etc., are not obligations of, or not guaranteed by – Future Savings
Copyright © 2025 Future Savings.. All Rights Reserved.
Developed by Best Advertising Agency
