HomeSaver is a unique home loan that enables you to pay your home loan in half the time, at half the cost.
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Features | How it works | Benefits | Useful Information

Features

  • Low-cost mortgage

    HomeSaver is a unique home loan that enables you to pay your home loan in half the time, at half the cost

  • Easy access to funds

    Deposit and withdraw your money (salary and other income) whenever you need, without any charges

  • Simple interest calculations

    With a HomeSaver loan, interest is calculated on daily balance and applied monthly

  • Free Debit Card

    Access your money whenever you want with a free ATM/Debit Card that works all over the world

How it works

The chart below demonstrates how HomeSaver works:

chart image

Benefits

The table and graph below show how you can save on interest costs as well as shorten the tenure on your loan by opting for HomeSaver:

  Normal home loan HomeSaver
Loan amount 1,000,000 1,000,000
ROI 14% 14.25%
EMI (Rs.) 12,435 12,617
Loan tenure (months) 240 240
Total interest repaid (Rs.) 19,84,448 12,59,260
Actual repayment period (months) 240 168
Savings on interest (Rs.) - 725,188
Tenure reduced by (months) - 72 months

Assumptions: Gross monthly post-tax income of Rs. 33,500; monthly expenses of Rs. 20,000.

The rates used above are just for demonstration purposes
The interest rate applicable to your loan will be specified in your Sanction letter

chart image

Savings compared to normal home loan
Savings on interest: 36.5% Reduction in tenure: 30%

Useful Information

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