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About a Loan Against Property
What Are the Tax Benefits on a Loan Against Property
Why You Should Apply for a Loan Against Property
Although a home loan and a loan against property may sound similar, they are quite
different from each other. A home
loan can be used to address either homebuying costs, or to fund a home renovation,
however a loan against property comes
with the prospect of many end uses – functioning a lot like a personal loan, but without
the exorbitant interest rates
levied. What’s more is that all you need for a loan against property is already with you
– a property you can use as a
collateral. And not just that, applicants opting for a loan against property can also
benefit from tax benefits that
come with this loan type – resulting in plenty of savings.
A loan against property can be termed as a mortgage loan, and the loan to value ratio
depends on the lender’s evaluation
of your property.
There are no tax cuts for a loan against property, whether the loan is used for business
or personal purposes. When you
get your loan against property application approved, you have borrowed money with your
property acting as collateral and
thus, it cannot be tax-exempt. Note that tax cuts and tax benefits mean two different
things and as such carry distinct
Bajaj Housing Finance offers several attractive deals for the loan
against property option. Eligible applicants can
receive a sizeable loan sum of Rs.5 crore as a loan against their property to fund
anything they’d like. Being a secured
loan, the loan against property interest rate are a lot more affordable than their
Bajaj Housing Finance offers a lengthy repayment tenor of 18 years to applicants basis
eligibility, which gives them
ample to time to comfortably repay the loan without compromising their existing and
future financial plans.
Read on to learn more about the loan against property income tax benefits and how you
can enjoy them today.
While the direct benefits of a loan against property is known to borrowers, many fail to
take note of the tax benefits
it can also afford them. Although tax benefits on a loan against property come with
certain conditions, we will show you
how to meet those conditions, making the process that much easier for you.
The tax exemption can be claimed on the interest paid to get the loan.
points below will tell you how to claim the various loan against property tax benefits
and what don’t fall under the
purview of a tax exemption.
The loan against property tax benefits is part of the features of the loan against
property option. There are many
reasons for you to apply for a loan against property, and here are 5 major reasons:
So, now you know the ways in which you can avail the tax benefits on a loan against property, take advantage of Bajaj
Finance Housing's lucrative loan against property deals and start enjoying the numerous tax benefits. Remember that to
enjoy the tax benefits, you must have no current loans. So, click here to apply for the loan against property option
that suits you today.
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