123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL Ľ Internet-Marketing >> View Article

Donít Let Your Home Loan Deal Turn Too Expensive With High Interest Rates

By Expert Author: Jayden Smith

Everyone dreams to own a home but in the ongoing economic scenario owing a home is not as easy as it sounds. But in the current scenario of inflation, the prices of plots and houses have jumped in the recent past and this has raised the demand for home loans. There are various financial lenders, public and private sector banks that offer home loans. Buying a dream house is not tough anymore as banks and financial service companies stand by you offering you home loan with lowest interest rates. Loan applicants always look for lower home loan interest rates. One can easily get a home loan if he/she falls under the set eligibility criteria. In order to be eligible for the home loan, one should be either salaried individual or self employed or should be a professional. In precise, one should have a regular income source so as to meet the eligibility criteria because if the borrower is an earning person than there are high chances to get the loan repaid.

Besides aforementioned qualifying categories, there are some other factors that determine home lone eligibility such as income, age, interest rates, loan tenure existing loans and credit history. Although there are plethora of resources that provide you loan but searching a reliable bank and financial lender is imperative because buying a new home requires a huge amount and one can not afford risks in such huge money. There are many home loan providers in the country that offer lowest home loan interest rates and allow you to own a home within your own ease.

The home loan providers understand the specific needs and requirements of every individual client and hence they offer customized loan solutions that suits their lifestyle and requirements. Besides providing appropriate and right services to loan seekers these financial service providers also offer best consultation and stress-free processing of home loan applications. Interest rates for home loan differ as per the different financial lenders and banks. The rate of interest is based on two factors; the quantum of the loan and the loan period. Apart from this, interest rates for housing loan also depend on availability of money in the market, inflation and monetary policies of the Reserve bank of India. Banks provide two types of interest rates- floating interest rate and fixed interest rate. If a borrower opts for floating rate loan than his/her home loan installments will keep changing as per the fluctuations in interest rates. On the other hand, in fixed rate loan the monthly EMI payment is calculated at a fixed rate of interest irrespective to market liquidity and cheap funding. The decision to choose between floating and fixed rate depends on various economic factors and outlook. Floating rates offer more flexibility in regard with pre-payment while fixed rates provide protection from interest rate fluctuation and give a sense of security to the borrower.

Generally, interest rate for most loans is associated to the lenderís base rate which is determined by the banks based complying with the RBIís guidelines. As the base rates of the financial lender are assessed quarterly by banks, this review oscillates the interest rates.

Author Bio

Propertyloanguru provides you service to find out lowest home loan rates in India from any bank. Check and compare by our EMI Calculator for Home Loan and know about the home loan interest rates of all major banks in India.

Total Views : 40Word Count Appx. : 570See All articles From Author

Internet Marketing Articles

1. If Youíre A Small Business, You Need Local Internet Marketing
Author: KwikAdvertising

2. Create Facebook Page And Make Your Dream Spread Among A Mass
Author: Maicle Desuja

3. Get Your Business Profiles Through Likes And Grow More In Stipulated Time
Author: Maicle Desuja

4. Expand Your Business With The Help Of Social Media Marketing
Author: Maicle Desuja

5. What Businesses Should Understand In Stall Design
Author: Optimist

6. Facebook Marketing
Author: Joe Brown

7. Why Guest Blogging Plays An Important Role In Promotion
Author: Webclickindia

8. What Challenges The Healthcare Marketers Are Facing?
Author: Titty William

9. Managing Corporate Emails Using Email Hosting Solutions
Author: Rosario Berry

10. Using Latest Technology To Make Ecommerce Solutions Simple And Secure
Author: Rosario Berry

11. Efficient Service Without Poolside Waiters
Author: Edmund Brunetti

12. How To Improve Waiter Efficiency And Customer Satisfaction
Author: Edmund Brunetti

13. Appropriate Use Of Custom Variables Make Your Affiliate Business Dream Simplified
Author: Arnab Dutta

14. How To Boost Customer Loyalty In Ecommerce
Author: Maulik Shah

15. Affordable Domain Names For Your Ecommerce Website
Author: Rosario Berry

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: