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OPPO R13 with 64GB/4GB variant is available in silver, dark blue and midnight black colour

After the immense success of R11 and R11s, OPPO is working hard to update its R-series smartphones. From what we know so far, the upcoming R13 will have a design similar to that of the iPhone X, with vertically arranged dual camera and bezel-less display. OPPO R13 will be a high-end but mid-range smartphone. Read on to know more.

Premium Design

R13 will follow the latest trend of being bezel-less and offer an edge-to-edge display. R13 sports a premium metal unibody design with gradient finish which makes it eye-catchy. Moreover, there is a fingerprint scanner and an LED flash placed between the two cameras.

AMOLED Display

Moving on to the display, OPPO R13 features a 5.99-inch tall screen. It has a resolution of 1440 X 2880 pixels, offering a more immersive experience. The notch design helps the phone achieve a tall aspect ratio of 18:9 and a high screen to body ratio.  Furthermore, the integration of AMOLED screen gives you an all-round superior view. It delivers brighter and more vivid images as compared to IPS and LCD panels. The Corning glass version 5 protects the phone from scratches.

Performance

Hardware-wise, OPPO R13 is powered by a snapdragon 660 processor paired with Adreno 512 GPU. The duo is a mid-range chip with enough power to handle intensive games or to manage heavy workloads. Moreover, the 660 processor offers up to 30% higher graphics performance and twice downloading speed as compared to the previous version. OPPO R13 is speculated to come with 4 GB of RAM which makes multitasking faster and easier. Coming to the storage, you will get 64 GB of onboard storage to preserve your precious memories. You can expand it up to 256 GB via a microSD card. The smartphone is likely to come preloaded with ColorOS 4.0 based on Android 8.1 Oreo.

Dual Rear Camera

OPPO R13 ships with a dual-sensor setup of 20 MP and 16 MP on the backside. Also, the camera supports Digital Zoom, Auto Flash, Face detection, Touch to focus, etc. 

Selfie Camera

OPPO has been successful in producing phones to provide the best selfie experience to users. The brand has worked hard to earn the title of “Selfie Expert”. The front camera of OPPO R13 will come with a resolution of 24 MP. The camera also supports automatic scene detection, HDR and AI Beauty technology. These features will allow you to capture clearer selfies even in low light conditions.

Battery and Connectivity

OPPO R13 is powered by a 3,800mAh non-removable battery sealed inside its metal body. The device has hybrid SIM slots, meaning you can swap the second SIM for a microSD card.

Price and Release Date

The price of Oppo R13 for the base variant is expected to be Rs 34,990.

If your love for selfies is unending, you must grab this phone. Don’t worry about the cost. After all, Tata Capital offers consumer durable loans up to Rs 5 lakh.

Samsung Galaxy A91 with 8 GB RAM and 128 GB Memory Launching Soon

Galaxy A-series have indeed strengthened Samsung’s position in the mid-range smartphone segment. The popularity of this series has prompted the brand to add yet another premium smartphone to the Galaxy family. Fresh details of Galaxy A91 have surfaced online, months before its official release. A good screen, powerful performance, and advanced cameras, together sum up this highly-awaited device. The excitement for A91 is soaring high. Among the main attractions of the device are the blazing-fast processor and the super-fast charging support.

Let’s see if Galaxy A91 has the potential to carry on the legacy of the A-series and if it is indeed a competition to other mid-range smartphones.

Samsung Galaxy A91

Powerful Display

Galaxy A91 flaunts a high-quality display. As per speculations, the phone will sport a 6.7-inch display with Full HD+ resolution and an Infinity-U notch. The AMOLED screen has a resolution of 2,400 x 1,080 pixels, for an exceptional video watching experience. The colours are fairly vivid, with adequate brightness levels in videos, web browsing, gaming, and other applications. 

Samsung Galaxy A91

Built to Last

Samsung Galaxy A91 is a gorgeous, sleek phone. The glass body with thin-bezels makes it relatively light to hold. It is covered in Corning Gorilla Glass on both sides for protection from scratches and accidental drops. Galaxy A91 also has an optical fingerprint sensor which is considered a hallmark of a premium smartphone. A91 will house triple cameras on its rear panel, along with an LED flash. Samsung plans to launch the phone in variants of different colours. However, so far, we only have a confirmation on white and black. The phone will run on a 4,500 mAh battery that will support 45W fast charging.

Shoots like a Pro

The phone has a 48 MP primary sensor, a 12 MP ultra-wide sensor, and a 5 MP depth sensor with autofocus on the rear. Users have complete control over the phone’s camera settings with multiple shooting modes like digital zoom, auto flash, face detection, and touch to focus.  Apart from the three rear cameras, Galaxy A91 has another selfie camera on the front. The 32 MP selfie camera can take stunning photos even in the darkest conditions.

Effortless Multitasking

The phone’s powerful performance is certainly one of its USPs. Qualcomm Snapdragon 855 SoC is currently the best chip in the market. Reports suggest that Galaxy A91 is being developed with the latest Android 10, and it will run on the Snapdragon 855 chip, assisted with an 8 GB RAM.

When and how to get the phone?

Although, there is no word on the price yet. However, going by the speculations, A91 is likely to be launched at a price of Rs 52,990. The company has given no official statements on the launch date.

There is still time for Galaxy A91 to be launched. In the meantime, why don’t you check out Tata Capital’s consumer durable loans? With instant approvals and no foreclosure charges, you can bring A91 home as soon as it hits the market.

OPPO A11 with Octa Core Processor Launching Soon

OPPO has become a global pulse with tech centers all over the world. Its products include smartphones, Color OS, that covers different consumer segments. The said Chinese brand has developed a new smartphone, targeted for the mid-range sector – OPPO A11. The phone is all set to launch in the Indian markets this month. Read on to find the smartphone’s released features and specifications.

How does the phone look?

OPPO A11 sports a 6.5-inch IPS LCD display that has a screen resolution of 720 x 1,600 pixels and a pixel density of 270 PPI. Even though it lacks a full HD resolution, it has an amazing auto-controlled contrast feature. The phone has thin bezels and a water-drop display that gives it a sleek, premium look. Also, the screen is protected with durable Gorilla Glass that is scratch resistant. You can expect the phone to be released in Marine Green, Space Purple and Cloud White colours.

OPPO A11

How does the phone capture photos?

OPPO A11 has a 12MP rear camera with in-built camera modes and sensors for premium photography experience. It has a front camera of 8MP that is perfect for clicking captivating selfies. The camera supports face detection and HDR imaging as well. The image resolution of the camera is still a mystery but we know that the 4GB RAM and 64GB internal storage (expandable up to 256GB) is great for storing tons of photos, videos and files.

OPPO A11

How is the phone’s performance?

OPPO A11 is based on the Android 9 Pie OS and has an octa-core Qualcomm Snapdragon 655 processor. This chipset ensures the efficient and smooth running of multiple apps at the same time. The Adreno 650 GPU, a series of Graphic processing units, shares the load of the Snapdragon 655 processor and amplifies the graphics of the smartphone. This ensures that the smartphone runs in a lag-free manner even during tense games and multitasking.

OPPO A11

How long can the phone last?

The smartphone runs on a Li-ion battery that has a capacity of 5,000 mAh. This ensures that the smartphone lasts for almost an entire day and functions even without charging. OPPO A11 is a dual-SIM smartphone and supports 4G VoLTE networks of any brand. It can connect with other smartphones and smart devices as well, through Wi-Fi 802.11, b/g/n, Hotspot, Bluetooth, and A-GPS.

How much does the phone cost?

The smartphone has additional inbuilt sensors, including a basic fingerprint sensor, accelerometer, ambient light sensor, and proximity sensor. It also has a Dolby Atmos support for finer sound, and Gameboost 2.0 for a supercharged gaming experience. With such good features, A11 is expected to be priced somewhere between Rs 15,000 and Rs 17,000.

OPPO A11 is a mid-range smartphone with decent features. If you want this device but don’t want to dip into your savings, you can check out Tata Capital’s consumer durable loans. They are easily available and come with conveniently timed repayable EMI options. Check out your eligibility now!

What is MHADA How Does It Benefit Home Buyers

For a long time, the state of Maharashtra was sinking below the weight of rising living and accommodation costs. As a result, many were deprived of a standard of living basic to a dignified human existence. The Maharashtrian Government intervened with the MHADA Lottery scheme to tackle this problem. Let’s find out what exactly the MHADA is and how home buyers can benefit from its lottery scheme.

What is MHADA?

Established in the year 1977 under the Maharashtra Housing and Area Development Act of 1976, the MHADA or Maharashtra Housing and Area Development Authority (also known as the Bombay Housing Board) is the body responsible for the construction of residential houses under different housing schemes for various societal segments.

The first ever low-cost housing scheme provided by MHADA was introduced in 2012 where 2593 apartments in Mumbai were offered via a lottery draw system. Ever since then, similar schemes have been announced. Under the MHADA lottery scheme, low-cost housing units are granted in specified areas each year to people belonging to the EWS (Economically Weaker Section), LIG (Low Income Groups), MIG (Middle Income Groups), and HIG (High Income Groups) via a lottery draw system.

Additional Read: Home Loan in Mumbai

What is its Prime Objective?

Since the whole of Maharashtra in general and Mumbai in particular, had a reputation for being highly expensive in terms of living and accommodation, the MHADA lottery scheme was introduced to make housing affordable for all income groups, especially those belonging to EWS and LIG segments of the society. The scheme allows people to buy properties in the most sought after localities of Mumbai and Pune at costs that are much lower than that offered by private builders.

What are the Specifications under MHADA?

Every year, the MHADA allots a certain number of housing units for each income group of the society. This number varies each year and the EWS and LIG segments generally hold a higher share as compared to MIG and HIG sections.

The MHADA has also pre-set the price range of the residential units for each income group. All EWS housing units are priced under Rs. 20 lakhs; all LIG flats range between Rs. 20-30 lakhs, all MIG houses cost between Rs. 35-60 lakhs, whereas all HIG flats are priced between Rs. 60 lakhs to Rs. 5.8 crore.

Which Areas are covered under MHADA?

The MHADA scheme is applicable only in certain specified areas such as Andheri, Chandivali, Goregaon, Chembur, Borivali, Ghatkopar, Kandiwali, Dahisar, Jogeshwari, Kurla, Korekalyan Santacruz, Malad, Mankhurd, Powan, Sion, Wadala, and Mulund. One can apply for the lottery scheme by simply registering online in three easy steps provided they are eligible as per the eligibility criteria laid out by the MHADA.

Are you eligible for the MHADA lottery scheme? If yes, you have easy home loan options to cover your housing needs with Tata Capital Housing Finance Institution. You can avail home loan from Rs. 2,00,000 to Rs. 5,00,00,000 for a tenure of 30 years with home loan interest rates starting at just 9.25%! Simply check out your home loan eligibility using Tata Capital’s home loan eligibility calculator online and apply for your housing loan today.

Top Places to Visit in Thailand for a Memorable Holiday

Thailand, also popularly known as the land of smiles, is a jewel of Southeast Asia. Planning a dream vacation to Thailand is not that simple. There are various aspects involved like budgeting and preparing an itinerary. A travel loan can make your financial planning easier while planning a vacation to Thailand. If you are looking forward to a rejuvenating holiday in Southeast Asia, Thailand won’t disappoint. Interestingly, the attractions of Thailand are quite diverse, and each facilitates a memorable experience. Here is the list of places to visit in Thailand for an exhilarating vacation:

Pai

Pai, located in the Mae Hong Son region, is a perfect place to enjoy the varied flavors of Thailand. This small town has developed a reputation of its own as a hub for backpackers. The much impressive Pai Canyon is the main attraction of this place. Opting for a loan for travel and visiting this place should top your itinerary.

Ayutthaya

Ayutthaya gives you a peek into the grandeur of ancient Thailand. The haunting yet romantic ruins of the former Thailand capital are genuinely remarkable. The ancient ruins are of the Sukhotai period where you can admire the architectural delights. Ayutthaya is located near Bangkok, and planning a day trip is more fruitful. Moreover, if you are on a leisurely schedule, plan on spending a few days in the ancient capital. To take care of all your expenses, consider taking a travel loan.

The Railay Beach

The region of Krabi is home to some of Thailand’s most popular beach destinations, and this is where Railay comes in. It is widely regarded as one of the most beautiful beaches in the country. Railay promises of pristine sand beaches, clear water, and a feeling that you’re in paradise. You can also go for elephant trekking, snorkeling, white water rafting, etc. Avail a personal loan to make your trip to Thailand a memorable one.

Phuket

It is often known as the Pearl of the Andaman sea and is located in the southern part of Thailand. Phuket is blessed with more than 30 beaches and to visit all of them, you could avail a personal loan. It is one of the biggest islands in Thailand and is the most exquisite beach destination in the world. Its innumerable beaches, along with friendly people, make Phuket a perfect spot for a vacation. However, ensure that you assess your personal loan eligibility to get a loan for your travel expenses.

Just apply for a hassle-free loan for travel from Tata Capital to manage all your travel expenditure. Check your travel loan eligibility before you apply for a loan for travel, and enjoy a stress-free vacation!

Top Honeymoon Destination to Visit in 2019 in Australia

Boasting of scenic landscapes, diverse topography and adventurous sports, Australia has become the go-to vacation spot for newlyweds planning their honeymoon. The lush greenery, scintillating skylines and golden beaches serve as the perfect backdrop for love-struck couples to embark upon a romantic journey.

Fiddling with the destinations that you want to include in your trip? Take a look at our Australia honeymooning guide to ensure that you hit up the most romantic places for a dreamy honeymoon.

1. Melbourne

Packed with endless romantic spots, exciting adventures and rich culture, the vibrant town of Melbourne is what dreams are made of. Enjoy the hustle and bustle of this quirky city as you gaze upon the captivating street art on your laneway tour and indulge in some delectable Asian meals at Great Ocean Road. Head to Philip Island to witness flocks of adorable penguins, dolphins and seals. Thrill-seeking honeymooners can enjoy a romantic hot air balloon ride for sweeping views of the city or soak up the magnificent sunset from Eureka Skydeck 88.

Melbourne

2. Perth

Brimming with culinary experiences and charming hotels, the capital of Western Australia has emerged as the perfect honeymoon destination over the years. Witness the vivid Australian art scene or explore the untouched wilderness of this beautiful city. Cross the city borders to visit the El Questro Homestead in The Kimberly. It boasts of gorgeous hotels which offer rooms extending over a river for an enchanting stay. You can even explore the salt flats, thermal springs, gorges, peaks and waterfalls for a divine experience.

Perth

3. Hamilton Island

This secluded environs and tropical beaches offer the perfect setup for romancing with your lover. The beaches here boast of clear emerald waters, white sands and diverse marine life, making it a must-visit destination for all the beach babies. Go all out with a helicopter ride to witness the Great Barrier Reef in all its glory or splurge on a luxurious cruise to Whitehaven Beach for a fun experience. Head over to Whitsunday Islands to fulfil your lifelong fantasy of lounging on a lonely beach with just your and spouse. Visit one of the 8 inhabited beaches for water sports or hit up one of 66 secluded beaches for a romantic getaway.

Hamilton Island

4. Queensland

Offering a plethora of activities ranging from lounging at the beach to skydiving at the park, Queensland is an absolute can’t-miss on the honeymoon guide. Visit the Gold and Sunshine Coasts to experience their exquisite white sand beaches in the day or witness the coasts turn into mesmerising shades of crimson during sunset for a memorable moment. Head over to Kangaroo Point Cliff for spectacular views of the city paired with a romantic dinner at the Garuva restaurant. You can even visit the luxurious spas for a couples massage to melt all your troubles away.

Queensland

Want to plan a dreamy honeymoon for your spouse but financial constraints holding you back? All you need to do is apply for personal loan or loan for travel. At Tata Capital, we know life is full of micro-moments. So, we offer attractive interest rates on personal loan and travel loan along with a high personal loan, eligibility travel loan eligibility and flexible EMI options to help you live the life that you deserve.

Top 10 Luxurious Hotels in the Maldives for a Royal Holiday

Widely regarded as the planet’s most elite travel destination, the Maldives is the ultimate tropical paradise for travelers. The archipelago of the Maldives is blessed with some of the most astonishing beaches, crystal clear lagoons, and phenomenal underwater wildlife. Applying for a travel loan is the best way to have an exquisite vacation in the Maldives. A loan for travel will ensure that you can tackle the last minute changes in your budget. Here are the top 10 luxurious hotels in the Maldives to enjoy a royal holiday. Take a look:

1. The Huvafen Fushi

Ever wondered about pure escapism? The Huvafen Fushi offers a refreshing holiday. It is one of those resorts that provide you with a myriad of cool and entertaining experiences. It also comprises a famous underwater spa which is an iconic part of the Maldives. A travel loan is the best option to enjoy the luxuries of this resort.

The Huvafen Fushi

2. The Como Maalifushi

If you want to have a peaceful ambience in a luxury resort in the Maldives, then the Como Maalifushi would be your best bet. You can enjoy a rejuvenating session at the resort’s spa.

The Como Maalifushi

3. Soneva Fushi

The Soneva Fushi is located on the privately-owned tropical island of Kunfunadhoo in Baa Atoll. It is also a renowned UNESCO World Biosphere Reserve. At this resort, you would be acquainted with world-class luxury and lavishness. In keeping with the castaway theme, a lot of rooms in this resort are built to resemble tree houses. Ensure you take a stroll on the spotless beaches of this resort.

Soneva Fushi

4. The Soneva Jani

The Soneva Jani at Noonu Atoll is surrounded by quaint beaches. The water villas in this resort comprise swimming pools that open to a lagoon. Interestingly, the culinary delights are quite diverse and sure to tantalize your taste buds. However, assessing your personal loan eligibility is a great way to ensure that you can avail a personal loan to travel.

The Soneva Jani

5. The Velaa Private Island

It is a luxury hotel that offers a stunning ambience, excellent restaurants, and a plethora of private pools. This resort also has white sand beaches where you can pursue a range of activities. A loan for travel is a great way to have a luxurious stay at this hotel when in the Maldives.

The Velaa Private Island

6. The Cheval Blanc

It is an ultra-luxurious resort located at the Noonu Atoll. This popular Maldivian resort offers a myriad of options for fun and adventure. The resort features a variety of design elements with cathedral style ceilings and doors.

The Cheval Blanc

7. The Taj Resort and Spa

If you want an exhilarating tour of the Maldives, then staying at this resort should be your priority. A loan for travel would help you to afford the popular la carte dinner and avail the sunset cruise of this resort.

The Taj Resort and Spa

8. The Vommuli Resort at the Dhaalu Atoll

Thick tropical vegetation and picturesque beaches surround this luxury resort. The resort sports a mix of contemporary design along with local craftsmanship. It comprises 77 villas which are luxurious and give you a royal feel.

The Vommuli Resort at the Dhaalu Atoll

9. The Park Hyatt

If you want to have a barefoot luxury experience, then Park Hyatt is the place to be. The accommodation offered at this luxury hotel is only a few steps away from the turquoise waters of the Indian Ocean.

The Park Hyatt

10. The Reethi Rah Resort

It is located at the North Male Atoll and offers the best to its guests. It comprises more than 120 villas which are discreetly placed amidst beautiful landscapes. It is located apart from the rest of the world and comprises manicured gardens and lawns.

The Reethi Rah Resort

The Maldives comprises many places to experience, see and enjoy. However, the first step is to make that decision to travel. Analyzing your travel loan eligibility and getting a travel loan is a great way to tour the Maldives without worrying about your budget. You could apply for a loan for travel from Tata Capital and enjoy the best holiday at these luxurious hotels!

Realme X VS Realme XT

Oppo’s Realme is making waves among mid-range consumers. It is launching some of the best phones in the country. These top phones 2019 are cost-effective and are packed with great features.

The Realme X and the Realme XT are two of the top phones in the budget category. These are priced between Rs 16,000 and Rs 18,000 for the base variants.

Let’s make a quick comparison of these two best phones 2019.

  Realme X Realme XT
  Performance  
Processor Octa-core (2×2.2 GHz Kryo 360 Gold & 6×1.7 GHz Kryo 360 Silver) Octa-core (2.3 GHz, Dual-core, Kryo 360 + 1.7 GHz, Hexa Core, Kryo 360)
Chipset Qualcomm SDM710 Snapdragon 710 Qualcomm Snapdragon 712
RAM 4GB, 6 GB, 8 GB 4GB, 6 GB, 8 GB
OS Android v9.0 (Pie) Android v9.0 (Pie)
Battery 3765mAh 4000mAh
  Design  
Height 161.2 mm 158.7 mm
Width 76 mm 75.2 mm
Thickness 9.4 mm 8.6 mm
Weight 191 grams 183 grams
Color Punk Blue, Steam White Pearl White, Pearl Blue
Screen Size 6.53 inches 6.4 inches
Display Type AMOLED Super AMOLED
  Camera  
Main Camera 48 MP + 5 MP 64 MP + 8 MP + 2 MP + 2 MP 
Front Camera 16 MP 16 MP
Image Resolution 8000 x 6000 Pixels 9000 x 7000 Pixels
Camera Features 2x Digital Zoom, Auto Flash, Face Detection, Touch to Focus 5x Digital Zoom, Auto Flash, Face Detection, Touch to Focus
Video Recording 3840×2160 @ 30 fps, 1920×1080 @ 30 fps, 1280×720 @ 60 fps 3840×2160 @ 30 fps, 1920×1080 @ 60 fps
  Other Features  
Memory 128 GB 64 GB
Expandable No 256 GB
SIM SIM1: Nano, SIM2: Nano SIM1: Nano, SIM2: Nano
Fingerprint Sensor On the screen On the screen
Fast Charge Yes Yes
FM/Loudspeaker Yes Yes
Speaker Dolby Atmos Dolby Atmos
Price Rs 17,999 (4 GB + 128 GB) Rs 15,999 (4 GB + 64 GB)

Launched just two months apart, these are some of the best smartphones available today in India. There is a marginal difference between the two when it comes to core specifications, with Realme XT being slightly better.

The difference worth mentioning is the display and camera. Realme XT comes with Super AMOLED display while Realme X has AMOLED display. The former is stacked with 64 MP + 8 MP + 2 MP + 2 MP rear camera and the latter with 48 MP + 5 MP rear camera.

Buy the phone of your choice this festive season with Tata Capital’s mobile loans. These loans are quick to get with instant approvals, minimal documentation and attractive interest rates. Tata Capital’s consumer durable loan can help you buy the phone of your dreams in a matter of minutes. Easy and flexible EMI mobile loans can also be customized as per your convenience.

How is a Business Loan Disbursed?

A business loan is a savior for entrepreneurs who find themselves strapped for cash while starting a new business or expanding an existing one. While people also opt for a personal loan to finance the expenses of their business, it’s best to take one that’s tailor-made.

A loan for business is especially important for small businesses that don’t have the seed capital or funding to buy or upgrade machinery, meet operation costs, or for other expenses. Plus, most of the reputed loan providers offer unsecured loans, so you need not offer collateral security.

However, you must keep in mind that while numerous small and big lenders offer business loans, you should diligently research before choosing a provider. There could be a huge difference in a lot of essential factors, such as the interest rate, repayment tenure, type of security, etc. So, before you decide to get a business loan from one of these providers, be sure to compare all the details and pick the most feasible option for your business.

Another plus point of taking a business loan is that, if you have all the information, such as identity proof and business statements, then you can easily get the loan disbursed within just a few days. This quick disbursal also ensures that you don’t miss out on current opportunities due to a delay in availing funds. 

Typically, disbursing a loan for business doesn’t require a lot of steps, and this is why you can get it within a short span of time. For most lenders, the disbursement flow is as follows:

Loan application submission

All the major providers have an application form that can either be filed online or in person. The application form is the first step towards availing the loan, and it requires you to enter all the basic and business-related details, such as your address, authentication of the business entity, etc.

Document submission stage

Along with the application form, your provider will also ask you to submit documents attesting to the information provided in the form. Right from the business plan to the income flow statement, you’ll have to submit supporting documents for verification.

Credential check

After you’ve submitted all the information from your end, your provider will then check your eligibility, CIBIL score, etc. Some providers may have their own parameters for checking credentials and eligibility, and this is why it may take a few days to do a thorough check.

Contract and other paperwork

After your documents have been verified and your loan has been approved, the paperwork starts. This is the last stage before loan disbursal. This would typically take a day or two to complete.

Loan disbursal

After all the verification and paperwork is done, your loan will be disbursed to you within a few days.

If you’re looking to build your empire, a business loan can help you buy the building blocks for it. Just be sure to do your research before opting for a provider and choose the right terms that help you to grow. Tata Capital offers some great business loan options that you could avail. So, get started!

Can You Claim Both HRA and Home Loan Benefits?

As a homeowner, you may have at some point wondered whether you are eligible to avail the tax benefits of both HRA (Home Rent Allowance) and home loans simultaneously. “Do I mandatorily need an HRA receipt from my employer to avail HRA benefits?”, “I own two houses, of which my parents live in one and the other has been leased out. As for me, I live in a different city for work purposes and am living in a rented apartment. Will I be able to avail the tax benefits on my home loan as well as the HRA benefits of my rented apartment at the same time?” are questions too common. This article attempts to clear doubts in this regard.

Availing HRA Benefits

HRA tax benefits are available only to salaried employees who receive an HRA from their employer. Hence, the same will not be applicable to individuals who are either self-employed or those who have not received an HRA from their employer. Moreover, HRA benefits are available to those who self-occupy the residential unit. Meaning, HRA benefits cannot be claimed if your parents or siblings are occupying the property, even if they are fully dependent on you. The tax benefit on HRA is not available for those individuals who are partly or fully owners of the property. For instance – If you jointly own the property and make some rent payment to the co-owners, this amount cannot be claimed for HRA benefits. The question is, how is this applicable if the property is fully owned by you? Well, if you lease out a property fully owned by you to your employer and the employer in turn lets it out to again to avail tax benefits (in the form of 30% standard deduction and interest paid on home loan), you will not be able to claim HRA tax benefits. The HRA receipt from your employer is a mandate for availing the tax benefits on HRA.

Additional Read: All You Need To Know About the Tax Benefits on Home Loan

Prerequisite for Availing Home Loan Benefits

Tax benefit for principal repayment of home loan can be availed as per Section 80 C and interest deduction on home loan is available as per Section 24(b) of the Income Tax Act provided you are the legal owner of the property. This clause is applicable to houses that are under construction. This implies that the said two benefits cannot be availed for houses under construction. Tax benefits are available for only residential houses whereas interest benefits are available for both residential and commercial houses. For individuals owning more than one house, only one is regarded as self-occupied property while the others are treated as let out and one needs to pay notional market rent on the same for tax. It has been proposed in the 2019 Finance Bill to consider two owned properties instead of one as self-occupied.

Claiming Both HRA and Home Loan Benefits

The legal provisions for HRA, as provided under Section 10(13A) of the Income Tax Act and rule 2A of Income Tax Rules do not restrict an individual from claiming HRA benefits in case they own a house but there are certain conditions that must be met. You can claim HRA for a house located in the same city where you’re working and for which you have taken a housing loan and your parents are occupying provided you live in another house for which you pay rent. You can avail tax benefits on the afore-mentioned home loan.

Additional Read: What are the Home Loan Tax Benefits under Section 80EE & 80EEA?

In short, yes you can claim tax benefits on both HRA and repayment of housing loan but in such cases, the Income Tax Department will closely monitor the situation if the amount is high and may even discontinue claim allowance if adequate explanations are unavailable.

To avail easy home loans from Rs. 2,00,000 to Rs. 5,00,00,000 for a tenure of 30 years at home loan interest rates starting at just 9.25%, connect with Tata Capital, India’s leading housing finance institution. Simply check your home loan eligibility using Tata Capital’s home loan eligibility calculator online and buy your dream house today!