Home Loan

Unlock Festive Joy with the Best Home Loan Offers at Piramal Finance


Do you dream of having your home under your or your parent’s name?

If yes, you are not alone in this wide world dreaming of making a home with your hard-earned money. However, buying a home requires a lot of money, calculations, perfect timing, and luck. And if one of the things from the list goes missing, you may never find your dream home.

Suppose you have been thinking of buying a home for a while, in that case, the festive season is the right time for you to go ahead and make your dream come true. The festival season is when most people look to buy a new home, car, electronics, etc. The festive season brings huge discounts and offers, making it an ideal time to purchase a new home.

Taking the benefits of the festival season allows you to reduce the cost of borrowing, making it a bit easy for you to pay for your dream home. However, these festive offers help builders and banks increase sales, making it a win-win for customers and businesses.

Now let’s look at the most amazing and beneficial festival season offers for home loan takers.

Benefits of getting a home loan in festival season

Money lenders are waiting for you in the festival season to get a home loan and fulfil your evergreen dream of building and making a home with your own hands.

You are applicable for taking a home loan if you are taking it as a new loan or creating a balance transfer. However, salaried and self-employed individuals can also apply for home loans and avail of the all-new benefits and offers of a home loan.

The following are the benefits you will get on applying for a home loan during the festival season.

Decreased interest rate

A festival season may allow you to build your dream home with fewer interest rates on home loans. For example, many lenders discount interest rates from 0.50% to 1.00% during festival seasons.

Therefore, a decreased interest rate may lead to fewer EMI amounts, resulting in fewer borrowing costs.

For example, If you take a home loan with a 7% interest rate of Rs 50,00,000 for ten years, the EMI will be Rs 58,054. However, if you take the same loan amount during a festival season at a decreased interest rate of 6%, your EMI would be Rs 55,510.

Fewer or zero processing fees or other charges

You may not count processing fees or count them as a miscellaneous cost while taking a home loan. But for many home loan takers, it increases the actual home loan amount and may increase the overall expense.

Therefore, taking a home loan during the festival season allows you to have fewer or zero processing fees on your home loan. On the other hand, the lenders decide to cut down the processing fees to acquire more new customers.

EMI waiver

Many lenders decide to waive off a certain amount of EMIs to be paid by the borrower. For example, XYZ lender waives off X number of EMIs from the total EMIs; you will directly save the X numbers of EMIs per month.

However, these discounts and offers come with specific terms and conditions. You must wait to foreclose the loan.

It is not prominent that every lender will indeed waive off certain numbers of EMIs. Remember that some lenders may come up with different offers and benefits for home loan seekers.

Easy to apply

Festival season is beneficial for both lenders and customers. And it’s a great opportunity for businesses to increase the number of applicants. However, applying for a home loan is a tedious task, and many customers find a secondary way of hiring an agent for the processes to tackle.

Therefore, the lenders, during the festival season, may decide to decrease a few steps for a home loan to make the application easy to apply.

As digitization happens, you can easily apply for a home loan online from the lender’s website, where you can submit the application form in a few minutes.

However, during the online application process, if you find any difficulties, the company will provide you with direct assistance online, or you can visit their office for further clarification on the process.

The best offers from builders

India is making rapid progress in every industry and sector. And the real-estate sector is booming with multiple high-rise construction projects to economy projects for middle to lower-middle-class people.

Due to the high competition in the real-estate sector, builders have come up with multiple offers to attract customers.

However, during the festival season, most builders decide to release a new offer or discount on the pricing of the home or sometimes decide to add complementary home furnishing items along with the home.

And sometimes, builders add freebies, including gold coins or free parking for the customers who pre-book the home during a specific period.

Final thoughts

It’s auspicious to buy anything new during the festival season, be it a new home, car, electronics, or anything you need. However, everyone dreams of buying their own home, so a home loan would immensely help you when you decide to process it during the festival season.

However, one should never decide to take a home loan by only looking at its offers and benefits; it provides, instead looks at its overall impact on your financial goals and conduct thorough market research before applying for it.

After all, a home loan is a loan you need to pay back. And you are bound to pay the money back, which isn’t yours until you repay all of it.

Are you planning to process a home loan? Visit Piramal Finance for smooth, and cost-saving home loan options.