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 Profile | Typical Interest Rate |
Women Borrower | 8.25% – 9.00% |
Regular Borrower | 8.50% – 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
- File timely income tax returns to claim deductions.
- Maintain accurate records of loan payments.
- Invest in prepayment options to reduce your overall interest burden.
- 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).