How Can A Woman Enjoy On Home Ownership And Housing Finance?
Author : Agrim Housing Finance | Published On : 06 Mar 2021
International Women's Day is definitely not a single-day occasion. Preferably it is a reminder for an equal & gender-neutral world. This year, the subject for International Women's Day Choose challenge gender stereotypes & inequality is the theme for International Women's Day 2021. AGRIM Housing Finance wows the mission and promotes gender equality by guaranteeing gender equality in its employing society and drawing out its advertising content, including media articles, social campaigns, and blogs, highlighting financial inclusion messages throughout the world.
Whether you are a housewife or working woman, you are eligible for the lowest home loan interest rate and Stamp Duty and Property Tax concession. In any case, a larger part of ladies doesn't think about the available advantages.
Women are commonly good at saving money as they have been managing domestic budgets for hundreds of years. However, important money decisions in a greater part of Indian households are carried by male partners for several social reasons. The low percentage of women workforce in India could be one of the variables for the equivalent. The interest level of the ladies' workforce in India has been continually shrinking since 2004. Furthermore, the more regrettable has quite recently come. The year 2020 reinforced the distinct stark gender inequality that rests across the globe as more ladies lost jobs and took over unpaid household work.
Financial Literacy is the trademark for Financial Inclusion and Gender Equality. At the point when you teach a Woman, you guide the entire family. A financially savvy lady can best use the power of compounding and ensure her future. She can teach money talks from the get-go in the life of children. This is the reason financial institutions keep on giving unique advantages to ladies' clients. What is reliable for gender uniformity is beneficial for the economy and the country.
Let's have a glance at how a lady homeowner appreciates uncommon advantages on home loans. You shouldn't be a working lady to become a co-applicant for a home loan.
Lowest Home Loan Rates
Women candidates are recommended to apply for home loans. Most financial institutions offer a discount of around 5-20 bps on home loan interest rates for prime ladies applicants. In this way, a couple can save lakhs of rupees by locking a lower-rate loan deal with a lady as a prime applicant. A partial waiver of the processing fee, relaxed norms, repayment ease, and reducing balance monthly installments are some different areas which a borrower should explore before locking a home loan.
More Tax Advantage
Under Income Tax Act, 1961, a home loan borrower in India is qualified to have tax deduction under segment 80C and Section 24 for max up to Rs 1.5 Lakh and Rs 2 Lakh separately on reimbursement of home loan principal and interest amount. The advantage will be concerning the commitment of every borrower for reimbursement of principal and interest. When a couple applies together for a loan, both partners can guarantee Income Tax benefits while documenting the IT return. In this way, the advantages can essentially be bent over for the couple, consequently leaving more in their pockets.
Stamp Duty & Property Tax Concession
Furthermore, a few states, such as National Capital Delhi, Bihar, Punjab, Haryana, Uttar Pradesh, Orissa, Uttarakhand, give concession on stamp duty ladies homeowners. A lady property holder can save 0.5 to 3% on the stamp duty rate across the country. The slab rates fluctuate state-wise, so check the accessible advantage in your specific area. A few States considerably offer lower property tax slabs based on gender. Anyway, to acknowledge these advantages, ladies should be the proprietor of the property.
Credit Endowment On Purchasing A Home
Under the government's "Housing for all," it is necessary to book the property in the lady's name for availing a loan linked to PMAY subsidy. All these housing-related advantages are planned to strengthen women's participation in the housing sector.
Moreover, home loan interest rates are at decadal poor grade. It is thus the best and ideal opportunity to get keys to your dream home in 2021. This week many financial institutions have further slashed home loan interest rates. However, remember to check unique home loan offers on the occasion of International Women's Day. AGRIM Housing Finance offers the lowest home loan rates to turn the lower-middle-class families' dream into reality. To make your home loans affordable and easier on your pocket, this housing finance offering many schemes. Whether they are self-employed or salaried, to fulfill their dream of owning their own home.
AGRIM Housing Finance offers a wide variety of personalized options to you to select the best one. Their mission is housing for all; whether you are salaried or self-employed, they will assist you in every aspect of availing of a home loan at the lowest home loan interest rate.