house loan interest

It is every person’s dream to buy a house that they could call their own. To many people, they aren’t just some simple bricks and walls but so much more than that. However, the gap between the income of the people and the cost of living is quite high and this rift is expected to increase even further. Thus, it is almost impossible for the people of working classes to buy a piece of property for themselves with the help of their savings. Thus, for many of the people, the dream of owning a house never transforms into reality. However, unlike the earlier days when the people had no other support other than the traditional financiers; there are now a number of banks and NBFCs (non-banking financial companies) providing assistance to the people by lending them money. The home loan interest rates provided by banks and NBFCs (non-banking financial companies) are much lower than those provided by the traditional financiers. These are the reasons because of which the impact of home loan

House loan interest rates are one of the most important aspects while opting for home loans.   It varies based on your principal loan amount, credit score, market scenarios and how good is your relationship with the lender. It is the crucial factor to decide the housing finance as well as the monthly installment of your home loan. While quoting the house loan interest rates your income source, job stability, organization type, additional income source, credit score, age and number of dependents, property location and its value are taken into consideration. Today, there are hundreds of players in the market and the competition is really getting intense in the mortgage markets. Therefore, banks and finance companies are catering loan with customized solutions and at lower interest rate deals. They come up with various attractive schemes to lure potential borrowers or retain the existing customers. One can compare the deals online, in terms of interest rates, processing fee,

Mortgaging your own property, especially the one which is bound to rise in the near future is a great way to meet your financial requirements. You get the funds without selling off your asset and also pay very low-interest rates compared to unsecured loans or traditional finances. Borrowing finance on your owned property would be termed as a loana gainst property . And in India; there are leading banks and finance companies who offered loan against property on your residential as well as commercial property at substantially lower interest rates, flexible repayment options and lengthy tenure for repayments. Here are some key points that you have to consider while taking a loan against property: Interest Rate Well, since it’s a loan product the interest rate would form the crux part and the low-interest rates is possibly an important selling point for Loan against property . The interest rates are generally low at around 9-11% with a nominal processing fee of 1-2 on the

A loan against property is not the first thing that comes to mind when you think of ways to finance a further education. However, if you are going to take a loan, you should look at all the possible alternatives and an LAP is definitely worth your consideration. In fact, an LAP holds an advantage over student loans in three areas, and this article will highlight them to ensure you make sound borrowing decisions. 1. Loan amounts. Now though most student loan promise 100% financing, getting complete funding is not as straightforward as your think. Firstly, you need to be eligible for such an amount to get 100% financing without any terms and conditions. For this, you’ll either need to have an amazing academic record or a strong financial background. If you lack in any of these fields, you may be levied with higher interest rates or required to provide security to avail the loan. However, with an LAP, you will get 60 to 70 percent of your property’s value as the loan amount. T

There are a number of instances in our lives, when we may suddenly run out of cash, or face with an immediate emergency of funds. In such times, we all look for a way to overcome those financial hurdles. But, even at such times, there are a lot of people who are waiting to take advantage of our precarious situation and tap into our problems; mostly loan sharks. These people often offer financial assistance but with higher collateral and interest rates. However, people of today’s times have a lot of options to choose from. One of such options is making use of loan against property which is provided by a number of banks and NBFCs (non-banking financial companies). The interest rates of these loans offered by financial institutions are way lower when compared with the interest rates offered by loan sharks and other traditional financiers. Also, there are a number of banks and NBFCs (non-banking financial companies) which offer special discounts for women, in order to encourage and e

Are you looking forward to purchasing your dream home? It’s very obvious shopping for your home would be an exciting, yet exhausting job as you have to identify the home, good home finance and the interest rates lenders offer you. It’s the crux of your home loan. Interest rates are like a double-edged sword. While reducing rates are bad for lenders it’s good news for borrowers. An increase will be vice versa. While availing your home loan there is a number of factors that are taken into consideration. However, your house loan interest rates form the crux of your loan. The loan amount you choose, your occupation, the salary, credit score are some of the important factors to decide your interest rates. Loan Amount decides the interest your pay. The more amount you take, lesser would be your interest rate. Salary: It is again one of the deciding factors for lenders to offer you a particular interest rate, higher your salary, better job stability, lower would be interest rates.

Opting for a loan is a very important decision, which needs to be taken only after proper deliberation. There are various aspects to a home loan. You need to go through and understand each one carefully before choosing a loan scheme. One of the important aspects of home loans is the interest rates. There are two types of interest rates; fixed and floating. People often get confused which one should they choose and mostly end up taking the wrong decision. This article will take you through both rates in detail so you can compare and know which one is best for you. Fixed Interest Rate This interest rate remains same for the entirety of the tenure of the loan. It does not get affected with the up and down swinging rates of the market. This one is thus perfect for people who do not like taking risks. If you opt for fixed home loan interest rates , you can do proper budget planning before making each payment. This interest rate will help you pay your monthly EMIs smoothly withou