Find Out About Marginal Standing Facility: Explained Simply

When it comes to buying a home, home loans are the most preferred option. But did you know that availing a home loan not only helps you get your dream home but also comes with tax benefits? Yes, you read that right!

Home loan tax benefits are provided by the government of India to encourage home ownership. As a home loan borrower, you can enjoy tax benefits on both the principal amount and interest paid. However, the amount of tax benefit varies depending on several factors, including the loan amount, income tax slab, and property’s location.

Important Details about Home Loan Tax Benefits

One important thing to note is that the tax benefits are applicable only if you take the loan from a bank or a financial institution. Moreover, you can claim tax benefits for the financial year in which you started paying the loan interest or EMI.

And now, with the recent announcement of the marginal standing facility (MSF), there has been a rise in interest rates. However, the tax benefits on home loans remain unchanged. There is still a lot to gain from availing a home loan, especially regarding tax benefits.

Explore Home Loan Solutions with HomeFirst

If you're still confused about where to avail these benefits, HomeFirst can help you with their home loan solutions. Not only do they offer home loan solutions at competitive interest rates, but HomeFirst also assists you in understanding the tax benefits and how to avail them.

Conclusion

In conclusion, availing a home loan not only helps you achieve your dream of owning a home but also provides you with tax benefits. With the announcement of the marginal standing facility (MSF), it's important to know that the tax benefits remain unchanged. And to ensure you get the best home loan deals and get your tax benefits, consider taking the expert advice of HomeFirst.