Recently, LIC Housing Finance has reduced the interest rate on home loans to 6.66 percent. If you are going to take a home loan from the bank, then it is very important to keep these things in mind.
LIC Housing Finance has currently reduced the activity charge on domestic loans. At the identical time, Kotak Mahindra Bank and Punjab and Syndicate Bank are presenting loans at 6.65 percentage pastime rate. Many banks are offering you loan at very low interest, if your credit score is good then you will get a home loan below 7 percent. If you are going to take a home loan from the bank, then it is very important to keep these things in mind
Take care of these things
- Most housing finance companies and banks offer home loans in the starting range of 6.65 percent to 6.75 percent.But your CIBIL rating have to be greater than 800 to get the domestic mortgage at the lowest rate. The financial institution additionally offers you loans at low fees if you take insurance plan insurance alongside with the loan.
- For some banks, the lowest interest income is for women. For men, banks can charge an extra 5-10 basis points on the cheapest interest offered by them. One basis point is one hundredth of a percentile.
- Some banks offer the lowest interest rates for loans up to Rs 30 lakh. For big amounts, the bank may impose a higher interest rate.
- Most banks choose to provide loans to salaried employees. If you are no longer a salaried employee, the financial institution may additionally cost you a greater activity rate. At the same time, the interest rates are different for business owners.
- Certain parameters have also been set by the banks, in view of which banks offer loans to their customers. The age and education qualification of the consumer is additionally protected for availing the mortgage. If you are going to buy an old house then the bank may charge you high interest rate or may reject the loan application.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.