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Personal Objective :

I choose this project in order to have the detailed study of the topic Home Loansas

it comprises of many formalities and legal deeds.

To have the practical knowledge because in future every second person will be

inneed of Home Loans

ICICI Bank specializes in Home Loans so to gain knowledge regarding career

prospects.

It helps in calculating Income and eligibility of the customer, Study of ITRs,Legal and

Technical study of any property and even profile check

Home loans in India have made people Buy Property in India in spite of

theskyrocketing prices. Today, we find considerable Real Estate Investment in India,

either inthe field of Residential Property in India or Commercial Properties in India.

Home Loansin India are disbursed by many Banks as Loan Banking is on of the mostimportantfunction of the Financial Services in India.

Property Dealersand Real Estate Consultantsin India usually recommend that we

undertake appropriate Home Loan or Mortgage Loan counseling so that we can Buy

Apartment in India at an affordable MortgageRate.Purchasing the home of your

dreams is not an easy task. Especially when you plan to buy a home on loan. Home

loan means that you buy a house on installments. In simpler terms when you want

to own a home and cant afford to pay the amount in lump sum, youcan pay it in

monthly installments with an interest rate.

The interest rates of home loans are expected to go down even further accordingtoanalysts who foresee a cut down in the rates by the RBI in the wake of the

decision taken by US Federal Reserve to cut its rates by a significant margin.There

are number of companies offer cheap home loans at a low interest rate. You

canavail loan against existing house for renovation or expansion etc. There are

manynationalized banks that offer finance for affordable housing. India Housing has

put together a comprehensive data to provide you with the cheapest Home Loans

available in themarket. We have listed all the important housing finance institutes

and some of the tophome finance banks providing lowest interest rates.In the last

few years, housing loan scenario in India has changed drastically. It hastaken a

front seat and people are looking forward to owning their own houses. It is no morea

dream that required lifetime saving and a difficult decision to make. Today thenew

home purchase loanis much easily available and is much cheaper than what was

available earlier.Banks are now everywhere and the schemes are implemented

even in villages and smaller towns. The housing loans are popular there too,

however, the activity of building flats islittle slow. It would not be wrong to say that

there has been a boom in the home loanmarket and with this boom; there is also a

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boom in the Number of home loans mortgage brokers in India.Rukmini Devi Institute

of Advanced Studies40

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The important variables that influence the selection of a loan were age, income, savings, existing

debts, interest rates, tenure, convenience, and other commitments regarding expenditures of an

individual. The research questions were centred around decision drives for a home loan,

attributes that influence in selection of loan provider, knowledge about financial institutions

among respondents, assessment of satisfaction level and factors affection satisfaction and

dissatisfaction of the applicants, service expectations, suggestions for service improvement and

finally to assess the customer loyalty.

Hypothesis is used to test the independence of attributes viz., tax benefits, low interest rates

,convenience on decision to go for a housing loan by an individual from middle income group.

Statistical tool used was chi-square; the outcome was that the decision to go for a housing loan is

dependent on tax benefits, low interest rates and convenience.