Frist Things First!
The number of people availing a home loan for purchasing their dream home has risen in the recent past. One of the major reasons for people opening up to the home loan is the availability of the housing finance at a lower home loan interest rate.
When people are able to get the facility of a home loan at a lower housing loan interest rate along with a longer tenor, people pay lower EMIs and realize own home dream.
If you have the required home loan eligibility, you can apply for home loans and get up to Rs.3.5 crores to fund homes such as villa, bungalow, and row houses and more.
Talking about the features and benefits of a home loan to help you secure your own home in your city also comes with a Flexi Hybrid Home Loan facility. Want to know more about it? Continue reading:
What is a Flexi Hybrid Home Loan facility?
Leading online non-banking finance companies (NBFCs) have come up with the Flexi Hybrid Home Loan facility to help home loan customers to plan their EMIs effortlessly.
The major benefit of the Flexi Hybrid Home Loan facility is that you only need to pay the interest as EMI for the initial home loan tenor and pay the interest and principal on the utilized amount for the rest of the tenor.
The Flexi Home Loan features to delight you
- Flexibility – You can enjoy the flexibility of flexi-interest and flexi-term loan in the same loan. You have the freedom to withdraw from any part payments that you made
- Interest only EMIs – You can enjoy paying only the interest during the initial tenor of the flexi-interest loan
- Loan limit – There is absolutely no loan limit during the interest only period
- Repay anytime – There is no restriction on principal amount of repayment
- No extra charges – You can make part prepayments, withdraw and even foreclose the loan figure without coughing up any extra charges
- Reasonable yearly charges – You only need to pay reasonable maintenance fees at the closure of each year so that you can make the most of the hybrid flexi loan
Flexi Hybrid Home Loan Benefits at a glance
The Flexi Hybrid Home Loan facility comes with a slew of benefits such as:
- Enjoy up to 4 years of principal holiday period –When you avail the Flexi Hybrid Home Loan facility, you are required not to pay principal payments up to a period of 4 years
- Interest only EMIs– When you get to pay only the interest portion of the EMIs, it lets you plan and manage your EMIs and monthly finances even better
- Part-payment – You can also enjoy making some part-prepayment and also withdraw quickly via the provision of the digital customer portal
- No limits – There are no limits and zero charges on the number of part-prepayments and withdrawals that you make
- Minimum loan default chances – With so many benefits and features available up for grabs under the Flexi Hybrid Home Loan facility, the probability of anyone defaulting on the loan repayment is negligible.
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Flexi Hybrid Home Loan Eligibility Criteria
You need to fulfil some eligibility criteria if you want to avail the Flexi Hybrid Home Loan facility such as:
- The loan applicant applying for this facility should not be below 50 years of age
- The Flexi Hybrid Home Loan can’t be availed for purchasing an under-construction property
The Bottom Line
With so many benefits of the Flexi Hybrid Home Loan facility available while helping you buy your dream home, why wait and let your dream die down? You can avail the Flexi Hybrid Home Loan facility online and get started!
