A home loan is known as a Secured loan offered against the security of a residential property which is funded by a loan from a Bank or NBFC.

The Home Loan is a loan taken by a home buyer/ customer from the bank issued against the house/plot/flat intended to be bought on the part by the buyer giving the banker conditional ownership over the property i.e. if the buyer/customer is failed to repay the loan, the Bank/NBFC can recover the paid money by auctioning the property.