Your loan, explained.
What Myra found for you
From your documents · each figure opens its findingSix questions, answered
Tap an answer for the detail01Product identity
- ProductHome loan · purchase · ready-to-move
- ProviderGodavari Home Finance Ltd · housing finance company
- BorrowersAnanya Rao, Vikram Rao (joint)
- Document date12 Oct 2026
- Reference••••3317
- DocumentsDraft loan agreement · KFS · Sanction
02What this product is
A ₹48.00 L home loan repaid in 240 monthly EMIs of ₹42,418. The interest rate is 8.75% and floating, so your EMI or tenure can change when the benchmark moves. This is an offer you haven't signed yet.
03Key financial numbers
Before you sign04Important findings
The three most important · tap to expandIn tax year 2026-27, 4 EMIs carry ₹1,39,674 of interest and ₹29,998 of principal. Your 50% share: interest ₹69,837, principal ₹14,999. Interest: ₹69,837 deductible (limit ₹2 lakh for a self-occupied home). Principal: ₹14,999 counts towards the ₹1.5 lakh limit, shared with PF, PPF, ELSS and life insurance. At a 30% slab plus 4% cess, that's about ₹26,469. If the home is still being built, interest before completion is claimed in five yearly parts after it, and the interest limit drops to ₹30,000 if it isn't completed within 5 years. Rules: Section 22 and Section 123 of the Income-tax Act, 2025 (sections 24(b) and 80C before April 2026). A co-borrower who co-owns the home claims on the other 50% separately, within their own limits.
08What Myra could not verify
0Nothing essential is missing.
09Suggested questions
05What you're committing to
- 240 EMIs of ₹42,418 on the 5th of each month
- Keep enough balance in your account before each due date
- Tell the lender about changes in address, employment or income
06What can change
- Interest rateFloating: moves with the lender's benchmark
- ChargesOnly those disclosed in the KFS, unless you agree to new ones
- InsurancePremium paid upfront; any refund on closure depends on the policy
- Fixed option9.40% for 36 months, then floating
- SpreadFixed per Sanction letter p.1 · revisable per Draft loan agreement cl. 5.4
07Exit and closure
- Look-up period3 days after disbursement · repay principal and proportionate interest, no penalty
- ForeclosureNo charge
- Closure documentsNo-dues certificate and NOC after full payment
- During the fixed period2% prepayment charge (agreement)