Indian Bank Loan for Home Repairs

Indian Bank has launched a new home loan product — IB Home Enrich — for repairs and renovation of houses. Customers can avail this loan up to 36 times their gross monthly income, subject to a maximum of ₹10 lakh. There is no need for mortgage of the house property under this loan facility.

Axis Bank Home Loan

The loan can be availed against liquid securities like LIC, NSC and term deposit, according to a statement.

Income tax exemption upto ₹30,000 under Section 24 of the IT Act will be available for the interest on this loan product, which was launched by Kishor Kharat, Managing Director & CEO, Indian Bank.

Source: The Hindu Businessline