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How to make the most of home loans with Moratorium Period?

Home! A place where four pillars strengthen the bond of a family. A place, where four walls witness countless stories of happiness, sorrows, celebrations and tears. A place, where we celebrate the freedom of being our own self cheerfully. A place, who’s décor reflects dreams. A place, where new beginnings are scripted each morning and bad days end with new hopes for tomorrow. Home, a four-letter word that holds endless emotions of each family member. In this era where nothing is constant, let your home be your permanent source of confidence and joy.

Do you live in a home of your own? If yes, you are one of those luckiest people who have conquered half the world’s happiness. If not, it’s never too late to apply for a home loan and make a move into a home you can call your own. These days, home loans have become extremely accessible, feasible and flexible. And why not? There are multiple lenders offering uncountable offers that are suitable to fill your needs and transform you from a home-buyer to a homeowner. If this was not enough, you can also get your loan approved within minutes and its credit goes to today’s speedy online services.


If you have plans to apply for a housing loan anytime soon, here's something you need to know which will prove to be beneficial for the long run and that is, ‘Moratorium Period’.

You are aware of the idea of home loan - taking credit from a lending institution and paying it back along with interest. However, sometimes a grace period is given to the borrowers by the banks during which one is not required to make any repayment. This is known as moratorium period. New to this term? Let's demystify it and understand its benefits. A moratorium period is a waiting period before which repayment by way of EMI begins. Ideally, the repayment begins after the home loan is disbursed and the payments have to be made each month, soon after. Moratorium period is also known an EMI holiday period. You can make the most of this grace period, too. How?


If you are a salaried individual, you are eligible to get a Moratorium Period. The lending organisation decides the grace period and based on your credibility, they can give the grace period of a longer duration. The interest starts getting accumulated even before your EMI starts. Home loan borrowers are burdened with paying house rent and home loan EMIs while housing companies are completing their projects. In these situations, postponing the EMIs until possession of the house helps borrowers to maintain their daily budget with ease.


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