Must Know Facts Before Taking a Home Loan

By SiliconIndia   |   Monday, April 30, 2012   |    10 Comments
19
Separator
28
Separator
34
Separator
9
Separator
Print Print Email Email

Bangalore: Home loans have become much cheaper eventually because of the RBI’s downward revision of policy rates by 50 basis points. This notion has started to nudge home seekers to go for more home loans, reports Preeti Kulkalni of ET Bureau. This cheaper home loans tactic goes for the existing home loan borrowers as well. They should review their policy and modify it, if necessary. Here are few factors you need to know before taking a fresh home loan or evaluating your existing loan structure:

1. Fixed or floating?

Though many banks have discontinued the practice of providing home loans with fixed rates, there are still some of them who provide such loans. There are many loans seekers as well who want to go for such loans with fixed rates to avoid the stress involved. Presently the interest rates are in a back seat, so it’s best to opt for floating rate loans. Apart from this, the differential between the floating and fixed rates in 2 percentage points, which primarily depends upon the lender. Thus it is best to choose the former.


Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
SPOTLIGHT
Bharti Airtel board approves
Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising ..
Banks need to raise own capital
Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth ..
90% of developing economies
Ninety per cent of developing economies, including India are falling behind or are at risk of fall..
Brookfield to buy RIL E-W Pipeline
Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Amba..
Previous
Next