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Bank Loan Assistance

Buying a home is very difficult with the current market rates in most cities being very high. One will consider him/herself lucky if they are able to get a home that they like and are able to pay for the home. But there are a few who make their own luck by buying a piece of land and constructing a house the way they want it to look with all the amenities they desire.

A home construction loan is a loan given exclusively for the purpose of constructing a house on a piece of land already owned by the borrower.

The biggest advantage of a home construction loan is the lower interest rate and longer tenure. Currently the home construction loans have interest rates ranging from 8% to 12% with tenure to a maximum of 20 years.

Having worked in housing loan section in Canara Bank, our Team Leader, N Thangavel,Retired Senior Manager would make the process simple but foolproof.