Study on housing loan offered by public sector banks in Harur Taluk

  • Gomathi c Department of Commerce, Sri Vidya Mandir Arts and Science College, Uthangarai, India – 636902
Keywords: Housing loan;, Types of housing loan;, Attitude of housing loan borrowers.


Housing is a primary human need next in importance only to food and clothing. A first priority for a youngster who beings life is therefore to plan for a house. This takes precedence over other household expenditure and creature needs. Housing, however, is a major expenditure and cannot be funded out of a families normal monthly income or savings. The prospective homeowner must look for a loan substantial in size and so structured that he can repay it over a longer period of time, in many cases almost ones entire working life. Loan is offered to a borrower to purchase or build a new house on the basis of his/her eligibility and the banks’ lending rules. One of the important basic human needs is shelter. House is the ultimate dream of every middle class family. Government gave encouragement for house finance subsidiaries by offering number of tax concessions to individuals with the overall encouragement given to this sector, a number of players entered in housing finance. One of the most important benefits of taking a home loan is the interest rate that is allowed on the home loan. Fixed and variable interest rate options are also available for home loans. Many financiers also offer homeimprovement loans at the same interest rate as they offer the home loans