Published Paper Details:

A person's ambition of owning a home demonstrates the amount of work, luxury sacrifices, and most importantly, the gradual accumulation of finances needed to realise that dream. Everyone aspires to possess a home, among other things. A person's home is a haven where he can rest and feel at ease. Whether they are commercial banks or financial institutions, many banks offer house loans to those who want to own a home. In order to meet the people's diverse demands, India has been providing house loans for about 30 years at attractive and fair interest rates. Due to their extensive network of lenders, Housing Loans offers services at your doorstep and assists you in finding a property that meets your needs. In order to draw customers to them, many banks are offering house loans at the lowest possible rate. These banks, which have a more customer-friendly mentality, presently provide consumers the cheapest loans for homes. The RBI recommended banks to promote the flow of credit for housing finance in light of the severe housing shortage in the nation and the social-economic role that commercial banks play today. The house loan market rates have fallen by 50 basis points as a result of the RBI lowering the bank rate. The Indian Bank and Standard Chartered Bank have announced a house loan for a 20-year period, making them the first players in this market to do so. It will undoubtedly increase the overall cost for people to design their homes over longer time periods now.