In a fast-paced economy, housing loans have become an important and useful financial instrument to purchase a home. The Nivahana – Housing Loan by HNB FINANCE makes this type of loan all the more enticing, as it provides flexible options to build or purchase your dream home when compared to other financial institutions in Sri Lanka.
Simply put, a ‘Housing Loan’ is a financial instrument provided by banks or financial institutions that allows you to borrow money in order to purchase or construct a house. Just like any other loan, interest is charged and has to be paid to the bank after a period of time.
Other facilities such as quick loan processing, doorstep service, and other supporting services to help you build your home can also be offered with the housing loan.
The traditional method of purchasing or constructing your dream home would be to save up and use your own funds. Constantly rising house and land prices make it difficult to save enough finances to buy your own home. However, housing loans gives you the financial ease to buy or build your house in Sri Lanka.
The HNB Finance’s Nivahana – Housing Loan allows you to obtain the loan in stages when you are building your house. But if you are purchasing a house, the full amount will be provided. This is done so that no funds are wasted.
Housing loans come with a very flexible repayment period, along with a low-interest rate which makes it easy on your wallet too. The Nivahana – Housing Loan provides a maximum repayment period of up to 10 years, giving you sufficient time to repay the loan in full, without being financially burdened in the long run.
Obtaining a housing loan may seem like a major financial burden, but when looking at it in the long run, it is completely the opposite. Once a housing loan is completed and repaid in full, you do not have to worry about any expenses like rent, except for the usual utility payments.
Gone are the days of special rules and regulations imposed by your landlord, such as not keeping pets inside. You can now live free in your own home and on your own terms.
A house built by using your own funds can be very time consuming due to unexpected delays, and runs the risk of becoming more expensive to build due to external economic factors. A housing loan, however, avoids that problem by giving the loan amount when it is needed.
Since a home is built within a strict timeline and a proper plan using a housing loan, you do not have to worry about delays in construction. Moreover, since it is constructed on schedule, you can actually benefit from the rising value of your property in the long run, especially if you are looking to sell it.
In short, a housing loan is a very important instrument in today’s world due to its ease and flexibility. With the Nivahana – Housing Loan provided by HNB FINANCE, you will not only be able to enjoy several benefits, but also build your dream home with ease, as we provide all the necessary services to make sure you achieve it.
