|The home loan section has proved to be one of the most revenue-earning sector for banks and financial service companies. Especially in India the demand for home loans is huge. A huge percentage of the people of India specially those who belong to the middle class need home loans mostly because it is difficult for them to bring out lacs of rupees from their bank balances. Residential properties are very costly in India especially in the capital, metropolitan and the developed cities as the price of land is higher there. And that is why people staying in these cities apply maximum for home loans. Located in the Northwestern part of India and a part of the state of Punjab, Ludhiana is a city where the demand for home loans is huge. Ludhiana is a beautiful and very populous city as it is a major industrial and educational sector. Large number of people are employed in the industrial sector of Ludhiana and as a result there is an increasing need for houses and apartments. To meet the increasing need for building houses, several banks and financial service companies are now offering home loans in Ludhiana and are helping people fulfill their dream.
Banks and financial service companies are now sanctioning huge amount of money as home loans in Ludhiana and as a result large number of real estate companies are also applying for it. Sanctioning of money within a very short time is also one of the reasons why so many people are applying for home loans in Ludhiana nowadays. Besides, the financial institutions are also decreasing the rate of compound interest on loan amount making it easier for people to repay the debt. Usually 20 years time is given to people to repay their loan amount along compound interest and they repay it in equal monthly installments.
Some of the leading providers of home loans in Ludhiana are given below:
Centurion Bank of Punjab Ltd.
State Bank of India
Browse through the site to learn more about home loans in major cities.