A mortgage loan is a good choice because of its long repayment term, low interest rate, higher loan amount, ability to deduct interest on income tax returns, part-payment facility with no fees (up to 25% of the outstanding loan amount once per year), and numerous other significant benefits. Mortgage loans are used for a variety of purposes, including expanding a business, paying for home improvements, reducing unsecured loan debt, and more. The requirements for mortgage loans vary greatly between banks and NBFCs. SME and project loans are excluded from the maximum 55% market value offered by nationalized banks. Along with multinational banks, up to 65% of the market value is generated. Additionally, NBFC gains 75% of market value. The interest rates vary from bank to bank.