Thinking about applying for a home loan? Check out this scheme!

Then you must explore the 'Home Loan Overdraft Facility'.

If you belong in a group with people having surplus cash or irregular/fluctuating monthly income, then this is your way to go, while taking a home loan.

The 2 key advantages offered by an overdraft facility loan are-

1) No prepayment charges.

2) The amount paid over and above the calculated monthly EMI, can be withdrawn back in case of any urgency.

Most banks, such as SBI, Axis, ICICI, Kotak, and maybe a few more offer this type of loan.

However, if you are taking a loan just for the sake of tax saving, then this is not an option since this loan facility does not provide Section 80C benefits.

Cheers!

#Homeloan #EMI #Flexideposit #Overdraftfacility #loan

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