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Home loans at banks and NBFCs in Agartala give you low EMIs and save money by transferring your existing home loans. Get attractive interest rates and quick processing. Balance transfer and top up facilities are available. Apply now.
Agartala is the capital city of Tripura in India. It is situated on the banks of the Haora River. It is the second-largest city in the north-eastern region of India. Agartala is made up of two words, Agar and tala. Agar is a type of perfume tree and tala is a storehouse. The city attracts many sightseers every year due to its many temples, palaces and rich heritage.
The city of Agartala has a strong population of more than 4 lakh people as it continues to attract traders and businessmen who prefer to settle in the city in the long run. This is when the need for home loans comes into the picture. The city is seeing an increasing demand for home loans as the demand for homes continues to rise.
A home loan is a secured loan that provides the necessary financial support to home buyers while purchasing a dream home. It ensures that the buyer’s financial condition is not impacted. Whether it is a multi-storied house or a commercial property, home loans can help an individual to buy the property of his/her choice. It can also be used for a home extension or renovation purposes. The interest rate of home loans is also influenced by the ongoing property rates.
Listed here are some of the top home loan providers in Agartala as per interest rate offerings:
Bank of Baroda
Bank of India
Union Bank of India
Kotak Mahindra Bank
Home loans in Agartala are generally sanctioned against 70% to 85% of the property value. Home loan eligibility can differ across banks and lending institutions. These may also vary as per the loan schemes. Here are some of the eligibility criteria followed by most lenders while filtering home loan borrower applications:
Apart from the one’s listed above, home loan eligibility in Agartala can also depend on the property being bought and the location of the property.
Recommended read: Tips to Improve home loan eligibility
There are many tax benefits associated with home loans. People in Agartala can avail these under the Income Tax Act of 1961. These home loan tax benefits allow home loan borrowers to save a substantial sum of money annually. Here are some of the tax benefits that one can get on home loan EMI payments:
Home Loan Tax Benefit 2021-22
Section of Income Tax Act
Nature of tax deduction
Max. deductible amt.
Rs. 2 lakhs
Principal (including stamp duty and registration fee)
Rs. 1.5 lakhs
Additional interest (for first-time home buyers)
Additional interest (for affordable housing)
Apart from Section 24(b) of the IT act, home loan borrowers can claim tax benefits on home loan interest either under Section 80EEA or Section 80EE.
Since home loans are generally larger sized loans, banks and lenders do a thorough assessment of a borrower’s credit history, income, property to be purchased, etc. Borrowers seeking a home loan must be aware of the various factors that lenders consider while processing a home loan application. Low-interest rates may come with more eligibility conditions. Mentioned below are factors that can help borrowers in improving their eligibility for lower interest rate home loans in Agartala:
Recommended read – Learn about different home loan scheme
Buying a home in Agartala may no longer be a dream for many as people can avail of home loans at reasonable interest rates in the city. With an increasing number of home loan providers in the city, the people of Agartala can now apply for a home loan with a bank of their choice.
1. What is the EMI for a 20 lakh home loan?
The EMI for an Rs. 20 lakhs home loan could differ as per the loan tenure and interest rates offered by the bank. To know the exact EMI amount, you can make use of an online EMI calculator.
2. Which bank gives the maximum home loan in India?
Some of the top home loan banks in India are ICICI bank, SBI, Indian bank, IDFC bank, etc.
3. How can I buy a house with no money in India?
Having a regular income could mean easy access to a home loan in India. If you want to buy a house with no money, you may have to pay higher interest on a secured personal loan since banks and lenders may not be willing to lend money in absence of income.
4. What is the maximum repayment time of a home loan?
Most banks offer a maximum repayment tenure on home loans of 30 years. This could differ across banks and depends on specific terms.
5. Is it good to clear a home loan early?
Prepaying a home loan or repaying it early could reduce the debt burden of the borrower. It can also have a positive impact on a borrower’s credit score.
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