Women empowerment & upliftment has been a prime motto of the government for quite some time. And why not? It’s time that the better-half gets its full share of benefits and perks. Then be it concerning to education, job or even buying a possession as big as a house.
Supporting women’s in fulfilling this dream both the public and private sector offer some advantages. So that the neglected section that was not considered worthy can now make a stand that’s stronger and bolder than ever.
Trimurty Builders salutes the heroic force called women and here trying to help get closer to your dream we present few home loan benefits. As a matter of fact, we are a twenty-two-year-old organization that builds real estate projects both residential and commercial. With a core focus on quality and care for mother earth, you can check our completed and ongoing projects, click here.
1. If a female candidate applies for a home loan, the borrower will be keen to provide with the same as women’s are considered to be more reliable than their male counterparts. In short, they are believed to have a low-risk profile than men.
2. Banks offer home loan to women folks at a concessional rate. Here, one has been to keep in mind that even a small variation in interest rate can have a significant impact on the monthly installments, EMI. However, it is to be remembered that low interest and high risk are related. Meaning, whether a man or a woman interest will be high if the applicant carries a risky profile.
3.Some financial institutions/ banks have special home loan schemes for women. Like HDFC ‘Women Power’ scheme, the SBI has named it ‘Her Ghar,’ and ICICI like its counterparts offers home loan at concessional rates to women.
4.Stamp duty charges applicable while home registration is slashed in some states for women.
Wrapping up, we’ll like to say that an applicant male or female has to have a satisfactory credit score before he goes applying for a home or any other kind of loan. As from interest rate to loan amount and even the loan tenure is associated with the credit score.
