• India CSR Awards 2025
  • Guest Posts
Friday, August 8, 2025
  • Login
India CSR
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
India CSR
No Result
View All Result
FKCCI Announces India CSR & Sustainability Conference &  Awards 2025 FKCCI Announces India CSR & Sustainability Conference &  Awards 2025 FKCCI Announces India CSR & Sustainability Conference &  Awards 2025
ADVERTISEMENT
Home Finance

Home Loan or Personal Loan – Which Should You Choose?

Housing and personal loans are flexible financial instruments that any Indian citizen with an excellent repayment capability can avail.

India CSR by India CSR
February 15, 2021
in Finance
Reading Time: 3 mins read
India CSR
Share Share Share Share

NEW DELHI (India CSR): Home loan and personal loan are the two most popular loan options in India. Although both loans provide you with funds, the usage and terms are poles apart. Here is a quick guide to the difference between a home loan and personal loan and how you can choose the best loan for your needs.

FKCCI Announces India CSR & Sustainability Conference &  Awards 2025 FKCCI Announces India CSR & Sustainability Conference &  Awards 2025 FKCCI Announces India CSR & Sustainability Conference &  Awards 2025
ADVERTISEMENT

What is a Home Loan?

Home or housing loan is a secured loan which gives you funds for house construction or purchase, home renovation or improvement, or land purchase. Home loan interest rate is usually the lowest of all loans. However, as it is a secured loan, the lender may liquidate the property after serving notice if the borrower stops the loan repayment.

***

What is a Personal Loan?

Unlikehousing loans, personal loans are unsecured, and you do not need to pledge any asset to avail the loan. However, as personal loan repayments are riskier than a housing loan, lenders often charge a higher interest rate than a home loan. Although there is no risk of property liquidation, defaulting on personal loan repayments may have a devastating effect on a borrower’s credit score.

***

Home Loan or Personal Loan – Which One Should You Choose?

To pick the right loan, you need to know the differences between the two. Here are the three primary differences between a home loan and personal loan.

***

End-Use

A housing loan’sprimary purpose is to make house purchase or home renovation easier and more cost-effective. You can also use the loan amount to buy land. In contrast, there is no limitation to the end-use of personal loan funds. Borrowers use it to meet short-term financial emergencies or purchase anything they want. Usually, the amount you can get from a housing loanis much larger than a personal loan.

Hence, you can apply for a home loan when you need a larger amount and personal loan when the requirement is less.

***

Tax Benefits

Unlike personal loans, a housing loan can help you save up to INR 3.5 lakh on taxes. The Indian Income Tax laws do not have any provision for tax deductions on personal loan. However, Section 80C of the Income Tax Act allows you to claim a tax deduction of up to INR 1.5 lakh every financial year for repaying the principal component of a housing loan. You can also save up to INR 2 lakh for repaying the interest. 

Hence, if you are a taxpayer and want to reduce your net tax liability, choosing a home loan with an attractive home loan interest rate will be a better option.

***

Eligibility

The eligibility of a housing loan is slightly more complicated than a personal loan. The maximum term of a housing loan is thirty years, and hence, it is a long-term liability. In contrast, personal loans generally come with a maximum term of five years. As housing loan requires more commitment from the borrower, lenders verify the borrower’s income source and stability. On the other hand, personal loans require nothing more than a high credit score and decent monthly income.

Hence, if you are worried about your eligibility or have a history of bad credit, opting for a personal loan will be prudent.

Housing and personal loans are flexible financial instruments that any Indian citizen with an excellent repayment capability can avail.  However, the nature and purpose of the two loans are entirely different. As an informed borrower, you need to analyse your requirement, read the terms, and apply for the most appropriate loan option.

(India CSR)

IndiaCSR Whatsapp Channel
Tags: Home LoanPersonal Loan

India CSR offers strategic corporate outreach opportunities to amplify your brand’s CSR, Sustainability, and ESG success stories.

📩 Contact us at: biz@indiacsr.in

Let’s collaborate to amplify your brand’s impact in the CSR and ESG ecosystem.

India CSR

India CSR

India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

Related Posts

Personal Loan Interest Rates
Finance

Factors That Affect Your Personal Loan Interest Rate: A Borrower’s Guide 

1 hour ago
Bhaskar Reddy Vemireddy
Finance

Bhaskar Reddy Vemireddy: Judicial Member of GST Appellate Tribunal

1 day ago
motor insurance
Finance

8 Step-by-Step Guide to Renew Motor Insurance Online in India

6 days ago
Building Algorithmic Crypto Portfolios with Quantitative Trading and Automated Execution
Finance

Building Algorithmic Crypto Portfolios with Quantitative Trading and Automated Execution

1 week ago
Pay Off a Rs 50 Lakh Home Loan in 17 Years and Save Rs 34 Lakh: A Smart Strategy Explained
Finance

Pay Off a Rs 50 Lakh Home Loan in 17 Years and Save Rs 34 Lakh: A Smart Strategy Explained

1 week ago
SBI Personal Loan
Finance

SBI Personal Loan Rs 2.5 Lakh (2025): Interest Rates, EMI, Eligibility & How to Apply

2 weeks ago
Interest Calculator
Finance

Using an Online Savings Interest Calculator: What It Tells You

2 weeks ago
Retirement calculator
Finance

Retirement calculator: Know how much you need to save monthly

1 month ago
Drive Financial Efficiency with The Power of Smooth GST Payments
Finance

Chhattisgarh: Coal Trader Arrested in Rs. 512 Crore GST Fraud

1 month ago
Load More
India CSR Awards India CSR Awards India CSR Awards
ADVERTISEMENT

LATEST NEWS

CSR: MBD Group Rolls Out Robotics Lab on Wheels to Boost STEM Learning

Factors That Affect Your Personal Loan Interest Rate: A Borrower’s Guide 

CSR: Motilal Oswal Foundation to Give Rs 172 Crore to IIM Raipur and NIT Raipur for Education and Innovation Hub

Bosch CSR Spending Report of Over Rs 32 Crore for FY 2025

CSR: Toyota Kirloskar Motor Strengthens Sustainable, Inclusive Growth

Happy Raksha Bandhan 2025: 120+ Rakhi Wishes, Messages, Quotes, And Images To Make Your Sibling Smile All Day

HZL HZL HZL
ADVERTISEMENT

TOP NEWS

How Project Management Can Ensure the Achievement of Environmental Goals for India’s Green Wall Initiative

Happy Raksha Bandhan 2025: 50+ Heartfelt Rakhi Quotes, Shayari, Wishes & Messages for Siblings

Bhubaneswar to Host First-Ever TiEcon 2025 on August 9-10

CSR: Career Mosaic Aims to Expand STEM Learning, Education Access

Zydus Lifesciences CSR Spending Report of Rs 64 Crore for FY25

Raksha Bandhan 2025 in UAE: Date, Time, Rituals, and Celebrations

Load More

Advertisement

Image Slider
content writing services Guest Post Top 5 Reasons to have Sponsored Posts at India CSR – India’s Largest CSR Media stem learning R2V2 Technologies Private Limited

Interviews

Himanshu Nivsarkar, Senior Executive Vice President and Head of CSR & ESG at Kotak Mahindra Bank
Interviews

Driving Sustainable Impact: An Interview with Himanshu Nivsarkar, Kotak Mahindra Bank

by India CSR
May 22, 2025

By Rusen Kumar NEW DELHI (India CSR): Himanshu Nivsarkar, Senior Executive Vice President and Head of CSR & ESG at Kotak...

Read moreDetails
Balamurugan Thevar, CSR Head at Shriram Finance

Empowering Women Drivers: An Interview with Balamurugan Thevar, CSR Head at Shriram Finance

May 20, 2025
N E Sridhar, the Chief Sustainability Officer at Titan Company Ltd.

Empowering Rural Craft Entrepreneurs: An Interview with N E Sridhar, Titan Company

May 15, 2025
Geetaj Channana, the Head of Corporate Strategy at Vivo India

Empowering Young Innovators Across India: An Interview with Geetaj Channana, the Head of Corporate Strategy at Vivo India

April 25, 2025
Load More
FKCCI Announces India CSR & Sustainability Conference &  Awards 2025 FKCCI Announces India CSR & Sustainability Conference &  Awards 2025 FKCCI Announces India CSR & Sustainability Conference &  Awards 2025
ADVERTISEMENT
Facebook Twitter Youtube LinkedIn Instagram
India CSR Logo

India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium services, we invite you to partner with us.

Follow us on social media:


Dear Valued Reader

India CSR is a free media platform that provides up-to-date information on CSR, Sustainability, ESG, and SDGs. They need reader support to continue delivering honest news. Donations of any amount are appreciated.

Help save India CSR.

Donate Now

donate at indiacsr

  • About India CSR
  • Team
  • India CSR Awards 2025
  • Partnership
  • Guest Posts
  • Services
  • Content Writing Services
  • Business Information
  • Contact
  • Privacy Policy
  • Terms of Use
  • Donate

Copyright © 2025 - India CSR | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers

Copyright © 2025 - India CSR | All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.