RBI: If you too are cherishing the dream of your own house but hold back from taking the decision due to rising EMI and high interest rates, then now there is a great good news for you. RBI i.e. Reserve Bank of India has announced a new home loan scheme which has brought relief to millions of people. This scheme is especially for those who want to buy their dream home in low EMI and also want to increase their savings.
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Why is this scheme special
The biggest advantage of this scheme is that in this you can save up to ₹ 4 lakh on your EMI. This scheme has been designed to provide relief to home loan holders from financial burden so that they can take the most important decisions of their life without worry. Under this scheme, not only the monthly installments are being reduced but the interest rates have also been made very affordable. Along with this, the loan period has also been increased, which will make the monthly installments even easier.
How to avail the benefits of this scheme?
It is very easy to avail the benefits of this scheme. You have to go to your nearest bank branch and apply for this scheme with the details of your home loan. The bank will recalculate the loan interest rate and your EMI so that you can get maximum relief according to the new conditions. If your loan is already running in a bank, you can still avail the benefits of this scheme.
People’s reactions became the identity of this scheme
Many people have felt a change in their lives by adopting this scheme. Suresh Kumar, who is from a middle-class family, says that with the relief in EMI, he is able to save a lot every month. At the same time, Rita Sharma says that now is the best time to buy a house because this scheme is no less than a boon for them. Many other people like Anand Verma also believe that this scheme has strengthened the financial stability of their family.
Application process and important things
To apply for this scheme, you will need some common documents like identity card, income certificate and details of existing loan. Once these documents are submitted, the terms of your loan will be reviewed by the bank and the scheme will be implemented according to the new EMI.[Related-Posts]
Helpful in future financial planning
The amount you will be able to save from EMI through this scheme, you can use it for any other future need or investment. Such as children’s education, retirement planning or any other necessary work. This scheme not only makes the present easier but also secures the future.
This new home loan scheme of RBI is a great opportunity for all those people who want their dream home but were stopped due to financial pressure. This relief in EMI is a strong step towards making your dreams come true. Now is the right time when you can fulfill the dream of a beautiful house without making any major changes in your budget.
Disclaimer: This article is written for the purpose of providing information only. All terms and benefits of the scheme may vary as per the policies of the bank. Please get detailed information from your bank before taking any decision.
