When taking a loan, two factors greatly impact your financial journey: choosing the right loan tenure and understanding tax benefits. Many borrowers focus only on interest rates but forget that tenure length and tax savings can make a huge difference in long-term financial health.
At Vizzve Finance, we help borrowers make smarter choices so they enjoy affordable EMIs and maximize tax benefits.
Choosing the Right Loan Tenure
Short Tenure Loans
Higher EMIs but lower total interest outgo.
Suitable for those with strong, stable income.
Long Tenure Loans
Lower EMIs but higher total interest over time.
Best for borrowers needing affordability in monthly budgets.
💡 Vizzve Finance Tip: Strike a balance—choose a tenure that keeps EMIs comfortable without overpaying in interest.
Tax Benefits on Loans
Home Loans
Deduction on principal repayment (u/s 80C) up to ₹1.5 lakh annually.
Deduction on interest paid (u/s 24(b)) up to ₹2 lakh annually.
Additional benefits for first-time homebuyers under section 80EE/80EEA.
Education Loans
Interest paid is deductible under section 80E for up to 8 years.
Personal & Business Loans
Tax benefits may apply if used for business, investment, or asset creation.
💡 Vizzve Finance Tip: Always link your loan type with available tax sections to save more while repaying smartly.
The Vizzve Advantage
Expert guidance on optimal tenure selection.
Transparent EMI schedules so you can plan better.
Assistance in understanding tax-saving opportunities.
Smart tools like EMI calculators and eligibility checks.
With Vizzve Finance, you don’t just borrow—you borrow smart, ensuring affordability today and tax benefits tomorrow.
FAQs
1. How do I decide the right loan tenure?
Choose a tenure that balances affordable EMIs with manageable total interest. Vizzve Finance advisors can help you pick the ideal term.
2. Do long tenure loans cost more?
Yes. Longer tenures reduce EMI burden but increase overall interest payout.
3. What tax benefits can I claim on home loans?
You can claim deductions under 80C (principal repayment) and 24(b) (interest payment), plus extra benefits for first-time buyers.
4. Are there tax benefits on education loans?
Yes, under section 80E, the entire interest paid on education loans can be claimed for up to 8 years.
5. Can personal loans offer tax benefits?
Yes, but only if the loan is used for purposes like business expansion, investment, or asset creation.
Published on : 13th September
Published by : SMITA
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