Home Loan Tax Hacks Every Indian Must Know

By | January 21, 2025

Subtitle 1: Tax Perks for Women Borrowers

Women in India receive exclusive benefits when taking home loans. Lenders offer lower interest rates, reducing the total cost. Additionally, properties registered in a woman’s name often attract lower stamp duty in states like Maharashtra and Delhi. This translates to both upfront and long-term savings.

Comparing Home Loan Interest Rates

Interest rates vary across lenders based on credit profiles and policies. Here’s a quick comparison of how rates differ:

Borrower ProfileTypical Interest Rate
Women Borrower8.25% – 9.00%
Regular Borrower8.50% – 9.25%

Always compare rates from multiple lenders before making a decision. A 0.25% difference can lead to significant savings over time.

Essential Tips for Tax Efficiency

  1. File timely income tax returns to claim deductions.
  2. Maintain accurate records of loan payments.
  3. Invest in prepayment options to reduce your overall interest burden.
  4. Seek professional advice to structure your finances.

Did You Know?

First-time homebuyers can claim up to ₹2.5 lakh in tax deductions if they meet specific conditions under Sections 80EEA and 24(b).