Promotions and offers in home loans in India refer to special deals or incentives provided by banks and financial institutions to attract new customers or encourage existing customers to take out home loans. These promotions and offers can take various forms, such as:

1. Low or zero processing fees: This type of offer can save the borrower money on upfront costs associated with the loan application.

2. Reduced interest rates: Banks and financial institutions may offer lower interest rates to attract new customers or retain existing ones.

3. Flexible repayment terms: Some promotions may offer more flexible repayment terms, such as longer repayment periods or the option to make partial prepayments without penalty.

4. Cashback or reward programs: Some promotions may offer cashback or reward programs for taking out a home loan, such as discounts on future loan repayments or other financial products.

5. Free insurance coverage: Some home loans may come with free insurance coverage, such as life insurance or loan protection insurance, as part of a promotional offer.

6. Subsidized or waived processing fees: Some banks and financial institutions may offer promotions where they subsidize or waive certain processing fees, such as appraisal fees or legal fees.

WHAT TO DO IF THE HOME LOAN APPLICATION GETS REJECTED?

Your home loan application may be denied for a variety of reasons, including a low credit score, an error on your credit report, a delay in loan repayment, frequently changing jobs, an employer who does not fall into the lender's lending category, insufficient documentation, problems with the property, a high level of debt, the borrower's age, and so on.

To prevent having your home loan application rejected, make sure that:

• Your job or company is secure (at least for the last 2 years).
• You have a decent credit rating (650 or above).
• Your documentation is thorough and correct.
• The property to be acquired is on the lender's list of authorized properties.
• You receive a 'No Dues Certificate' from your former lenders.