No EMI For 24 Monthsâ€œ, â€œBook Your Dream Home at Just 9% Interest Rateâ€� and â€œBook Now Pay Laterâ€�, Ever got your eyes hooked on to such hoardings? Doesnâ€™t it seem like some miraculous intervention, which is intending to help you fulfill your dream of owning a house? But wait! Letâ€™s come to terms with the reality. This miraculous intervention is called a subvention scheme. In marketing, creating confusion is the best strategy to convince the buyer and, in this case, a builder also confuses the buyer by offering the subvention scheme.
A subvention scheme is a new form of bank financing for home loans wherein an individual applies for a loan for a property under construction, the concerned person need not pay any Pre- EMIs till a fixed period or possession i.e., all the interest till the fixed period or possession will be paid by the developer.
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