Home Loan vs Personal Loan
Compare home loan EMI, interest rates, tenure, and tax benefits against unsecured personal loans.
| Factor | Home Loan | Personal Loan |
|---|---|---|
| Typical rate | 8–9.5% p.a. | 12–18% p.a. |
| Tenure | Up to 30 years | 1–5 years typical |
| Collateral | Property pledged | Unsecured |
| Tax benefit | Section 24(b) interest deduction | No tax benefit |
Verdict: Never use a personal loan for property when eligible for a home loan — the rate difference saves lakhs over tenure.
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