Home loan interest rates, which have been declining ever since 2019, have started rising with banks such as State Bank of India (SBI) and Bank of Baroda (BoB) hiking rates. Both these banks have increased the interest rates of borrowers servicing...
Read MoreSmart Ways to Reduce Your Home Loan Interest Burden
The interest payment of a home loan can equal the loan amount you avail from a bank or a housing finance company over time. For example, an INR 50 lakh loan at 7.70% could lead to interest payments worth INR 48 lakh (approx.) over 20 years through...
Read MoreIs Your Home Loan Interest Rate the Lowest?
If you have taken a home loan before 1st October 2019, your interest rate must have changed recently. Many banks have cut the interest rate for such customers. Even then, is your Home Loan Interest Rate the lowest? Even if your interest rate is...
Read MoreHome Loan Interest Rates for People New to Credit or Having a Bad Credit History
Given the importance a good credit score holds to loan approvals, one may get surprised to know that home loans can be given to individuals who are new to credit or have a bad credit history. What makes lenders give a home loan to these applicants...
Read MoreWhich Rate of Interest is Best for Home Loans?
As the average home loan amount will most likely be around INR 30-50 lakh given the prevailing property prices, the interest rate needs to be substantially lower so that your homeownership cost remains to the minimum level. In case you choose a home...
Read MoreWhen Does the Home Loan Interest Rate Increase for Borrowers in India?
Home loan interest rates have come down substantially to 7%-8.50% now as banks cut rates aggressively in response to 250 basis point cut in the repo rate by the Reserve Bank of India since 2019. Even housing finance companies have cut the rates much...
Read MoreUnion Bank of India Home Loan Interest Rates
The affordable Interest rate of the Union Bank of India Home makes it attractive for borrowers. Ranging from per annum, the low interest rates help you in reducing your repayment amount. Individuals can make smooth repayment and also maintain a...
Read MoreDo You Know the Interest Rate on Your 3rd Home Loan Can be More than the Prevailing Rate?
Buying more than one home is common with most and, that too, on a home loan. While the interest rate for the first two homes can match with the prevailing market rate, the rate for the third one and furthermore acquisitions will be a few percent...
Read MoreEver Wondered Why Home Loan Interest Rates are More for Self-employed
Differences exist everywhere including your very own home loan. Even as the home loan is available to both salaried and self-employed, differences exist in their respective interest rates. This brings a difference in the Equated Monthly Installment...
Read MoreHome Loan Interest Rates Based on Different Credit Scores
A good credit score of 750 and above heightens the possibility of getting a home loan at a lower rate of interest. And, with lower rates, you can save a lot on the interest outgo on a loan that can potentially run for as long as 20-30 years. Lenders...
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