Tips to choose the right home lender
Fixed or Floating interest rate
It is quite obvious to find yourself trapped in a dilemma whether to opt for a fixed or floating interest rate. Fixed interest rate which is supposed to be same rate throughout the tenure can alter after a certain period of time, provided which either your EMI amount or the loan tenure can increase. Therefore clear this dilemma with your lender. On the other hand, if you are opting for the floating rate loan, make sure that your lender's floating rate has come down at least over the past two years.
