In this busy world everybody is rushing up for their work for their need and for their satisfaction.

Everyone is after just one thing “MONEY”.  It is the only thing that if we have we are satisfied and if it’s not we are nothing. In our starting jobs we are not able to make enough money to satisfy our big wants like buying a car or a house. To ease this various financial institutions and banks have developed a segment “LOAN”. You can basically borrow some money from them and then slowly you can return back them along with the interest.

Now a days everybody wants their separate home and that too owned by themselves. Buying a house or a property is not easy as it requires a lot of money, and earning so much money in less time is not easy as it requires a lot of patience. To ease this one can apply for a “HOME LOAN”. Basically it is the money taken from bank for the purchasing of home at a certain rate of interest which is paid slowly  to the bank.



Various banks and financial institutions have their schemes regarding HOME LOANS. They have different rate of interests and policies for this. SBI and HDFC offer home lone policy with the cheapest interest rate of 8.35%.


The rates and procedures of interest may vary from the types of loan. For example if you own a house and you need home loan so  you have to submit your property papers to bank, for student loan you need to submit your parents bank statement, ID proof etc. also the rate of interest for students loan is 8.25%.


There are various tools available on the internet for the calculation of loan interest like ‘SBI Loan Calculator’, ‘HDFC EMI Calculator’ and many more. You can too easily calculate it by some mathematical formulas but as they are typical you can use the online tools.



There are various bank and financial institutions that grant loans to the people though many of them are fraud so you must ensure government approvals institutions only. Some of the renowned institutions and banks are SBI, HDFC, Lendbox, P2P loan etc. One can also apply for the loan online without going anywhere. Such types of loan are called as ‘‘eLoans” Few of the online loan lenders are “eloan India ‘’, “crunch base” etc.



If the interest money is not duly paid on time to the bank or any financial institutions then the interest sum is piled up which is called as accrued income. The banks have rights to sell your assets in order to clear up their funds landed.

Hence, home loans are a better option for you if you are looking for you own home.

By- Siddharth Vikram


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